Why cant i get a loan!

crackster

I keep getting rejected for 11,000 pound loan i have credit score of 932 and i repay every thing on time.. i get around 1,000 pay every month and atn living with parents and pay nothing.. only thing i have is car finance which was for 3,000 i think which am paying back on time think i only o 900 pounds left cant any one give me a link were i have a better chance to get excepted thanks

poppasmurf_bewdley

First of all, your credit score means diddly squatt to any loan company. They all have their own method of credit scoring and they are all different.

Secondly, most loan companies look on anything over 50% of your annual salary as too much. Wanting £11k on top of the £3k you already have is the reason you have been turned down.

Sorry it's not what you wanted to hear, but it's what others will also tell you.

gb12345

Your credit score is just a meaningless number - lenders will not consider it.

Lenders will look at affordability, reason for loan and previous credit history.

Is the £1,000 per month your take home pay or your gross salary?

What is the loan for?

Are you on the register of electors at your parents house and apart from your car finance have you ever had any other credit?

Where have you been applying for the loan? Have you tried the bank that you hold your main current account with.

Also, you say "keep getting rejected", how many times have you applied - each of these applications will show up on your credit file, which may count against you with lenders.

opinions4u

So you want to borrow your net annual salary?

That could be the reason.

DCFC79

crackster wrote: »

I keep getting rejected for 11,000 pound loan i have credit score of 932 and i repay every thing on time.. i get around 1,000 pay every month and atn living with parents and pay nothing.. only thing i have is car finance which was for 3,000 i think which am paying back on time think i only o 900 pounds left cant any one give me a link were i have a better chance to get excepted thanks

Everything I would have said has already ben said, have a think and I mean a really hard think about the amount of money your asking for copmpared to what your salary is. Can you not see the 2 figures are pretty much the same ?

Either ask for much less or save up half and then get a loan for the rest.

I know its not what you wanted to hear but its the truth.

Whats the loan for ?

stephane_2

No one will lend you 11k on a 12k annual salary.....no chance whatsoever.

Hazzinho

You need to be earning over £28k to borrow that amount on top of your £3k loan.

SnowTiger

opinions4u wrote: »

So you want to borrow your net annual salary?

That could be the reason.

Probably. Allthough this is a pretty good contender for the reason too:

crackster wrote: »

From the top i got a 800 pound loan from WONGA Yes i no stupid!!

then i lost all my over time and work and had hardly no hours and loads of other bills to pay i rang wonga and they said i could set up a payment plan and pay so much off a month i said that's great and i did that any ways its all paid off i paid the amount they asked for every month. but now i have a default on my account. but which also says satisfied i contacted wonga saying i paid all the money monthly on the payment plan they made and i never broke that. they said it was set to as it took over a year to pay back and they can remove it. they never said i would receive and default over the phone or did i get any letters is there any thing i can do to remove this or am i stuck with it?

:rotfl:

crackster

but its over 5 years 209 pound a month which is easy to repay... i am on the register of electors 900 pounds after tax and tried my and co-oop bank

i had credit for a tv 1,300 like 3 years ago paid back on time and full

crackster

SnowTiger i have had the default removed every things is fine now and i did not want to say this but the wonga loan was not even for me it was for a friend that !!!!ed up! and he had to pay monthly for it ! but the default is now been removed

DCFC79

crackster wrote: »

but its over 5 years 209 pound a month which is easy to repay... i am on the register of electors 900 pounds after tax and tried my and co-oop bank

i had credit for a tv 1,300 like 3 years ago paid back on time and full

Did you ask your own bank ?