Advice Needed ---personal Loans

zodan

Hello,
wonder if anyone has any advice as it is driving me and my husband to despair :eek:
me and my husband are both working ---have a few debts that we can manage we get around £2000 p/c/m
we tried to get a loan with natwest (my husband got a loan in 2004 from halifax--and since then we cant seem to get any credit, have they put something against his name ?), which got refused we have been in touch with equifax which has nothing on the report and shows that we have made all the payments from the previous loan , my credit rating isnt bad as i have a couple of credit cards and a catalogue, but its seems my husbands is the problem --he cant even get a crapy credit card
when we spoke to natwest they gave us all the spiel that they wont give you a loan to pay off your other debts (((isnt that purpose of debt consildation))), need to leave money in your bank account etc etc
we also spoke to there lending department --which we got told that they cant understand it and cant see any problems,
so if anyone can give us advice to try and get round this ---its not that we need a loan --its the principal of it now --that why are we being discriminated against as we dont see that theres nothing wrong --we can mange the payments easily --
hope anyone can help

jonesMUFCforever

Your loan application may have been declined on affordability grounds.
You say you have some debts- can you be more specific with amounts outstanding and the APR's charged.
We also need to see exactly your incomes and outgoings - this excercise alone should show you whether you have enough surplus income each month to affor a loan.
(Consolidation is not a good idea unless the root cause of the debt is eliminated otherwise you will be back here in a couple of years with the same enquiry).

zodan

hello,
thanks for reply
ive have worked out all the bills and yeah we can afford it the loan we want is £8000 paying back at (£195.00 per month )
god knows what the aprs are lol we have m/s more credit £60.00 p/m card ,natwest £6.00 p/m,capital one £6.00 p/m credit cards, halifax loan (175.30 p/m) and littlewoods direct catalogue at £103 p/m
what we have got on credit isnt that much --we probably pay out on debt about £350 give or take , rent is £355.00 , council tax is £122.00
my husband earns £24000 a year which we get £1300 odd every four weeks and i get around £10,000 a year which i get weekly ---what we want to do is get a mortgage and move but if we cant even get a loan , then we cant get a mortgage --the halifax loan finishes in 2 yrs ---ive done all my workings out (as i do it all the time lol ) and if we got this loan for £8000 then every 4 weeks well will have £1000 left to play with after bills have been paid
natwest who we are with, cant understand it either as we have spoken to them ---and have said to get in touch with halifax as it seems weird that since we have had that loan he cant get a bloody thing--not even capital one or get in touch with citizens advice as neither us or natwest can understand it ---at halifax husband cant even get a current account --went to natwest got an advantage gold account ---it seems to me that he hasnt got a good enough credit rating ---seems were in a catch 22 situation as he needs to get more credit rating but cant get credit if no one gives him any ,
little britain must be true ---computer says no lol
thats what we want to do clear the little debt we have keep paying back the 2 loans and with the rest of the money from earnings put aside for mortgage in 5yrs time ---its frustrating as we dont know where to start ---i could clear up all my credit cards as the limits arent in the 1000 of pounds but then if i do that i wont have a credit rating
so dont know what to do

zodan

hello,
thanks for reply
ive have worked out all the bills and yeah we can afford it the loan we want is £8000 paying back at (£195.00 per month )
god knows what the aprs are lol we have m/s more credit £60.00 p/m card ,natwest £6.00 p/m,capital one £6.00 p/m credit cards, halifax loan (175.30 p/m) and littlewoods direct catalogue at £103 p/m
what we have got on credit isnt that much --we probably pay out on debt about £350 give or take , rent is £355.00 , council tax is £122.00
my husband earns £24000 a year which we get £1300 odd every four weeks and i get around £10,000 a year which i get weekly ---what we want to do is get a mortgage and move but if we cant even get a loan , then we cant get a mortgage --the halifax loan finishes in 2 yrs ---ive done all my workings out (as i do it all the time lol ) and if we got this loan for £8000 then every 4 weeks well will have £1000 left to play with after bills have been paid
natwest who we are with, cant understand it either as we have spoken to them ---and have said to get in touch with halifax as it seems weird that since we have had that loan he cant get a bloody thing--not even capital one or get in touch with citizens advice as neither us or natwest can understand it ---at halifax husband cant even get a current account --went to natwest got an advantage gold account ---it seems to me that he hasnt got a good enough credit rating ---seems were in a catch 22 situation as he needs to get more credit rating but cant get credit if no one gives him any ,
little britain must be true ---computer says no lol
thats what we want to do clear the little debt we have keep paying back the 2 loans and with the rest of the money from earnings put aside for mortgage in 5yrs time ---its frustrating as we dont know where to start ---i could clear up all my credit cards as the limits arent in the 1000 of pounds but then if i do that i wont have a credit rating
so dont know what to do

mrs_deadline

Are you reducing the credit card balances at the moment or just paying the minimums?

jonesMUFCforever

What you are saying about not clearing your credit cards because it won't give you a credit rating is utter rubbish. Paying off debt on time will certainly make your report look good!
Since god won't lend you any money I'm sorry the reply that you do not know the APR etc on the cards is probably one of the reason you are in debt.

You have to take charge of your finances - get rid of the highest charging cards first - then cancel them - don't just leave them in a drawer where it might be tempting to start again.

zodan

hello,
thanks for replies,
regarding credit cards---i normally pay halfway not the minimums and not the full lot ,

i'd also like to state that when i got my credit cards,catalogue i was in receipt of benefits --now how can they give some one on benefits credit cards etc and not people who are working full time ??

i think there is alot of conflicting advice out there as from one site to another states different advice from one site i found this --re credit cards

On your credit cards keep the debt to available spend to a minimum. If all your credit cards are maxed out and you have been refused new credit cards (and your credit search will show all these) your overall score will be lowered.

If you have credit cards you don't use that often, don't be tempted to close them as this may work in your favour. It is prudent though to not have too many credit cards. Keep 6 or less.

now with regarding the APR i keep all my statements in a draw and cant be a**ed to go and search for them --and although we are in debt , we still have around £400 per month to treat ourselves and kids once bills are paid off ---we have taken charge of our finances as i have a budget plan on the pc so i know all the ins and out of my bills ---my credit limits are not high on my credit cards i think the only one is m/s which is £2000 --capital one is only £200.00 --we have no overdraft so are never in the red --i pay over on my phone bill and rent so always in credit

anyway with alot of phone calls and constant getting on there backs i have now found out the problem with my husbands credit rating ---its nothing to do with what i have ---its his credit scoring as he has only one loan and household he has nothing in his name --thats about to change ---- he has now opened up a current account in halifax which they have never done before --so slowly we are getting there
what we are going to do is combine 2 loans with halifax ---so interest wont be so high on that and pay off all credit cards etc get rid of them and just have the halifax which is no problem ---and with the £800-£900 pound we save each month ---once bills are paid save £500 each month for a mortgage in 5 yrs so if we do that will have around £30,000 to put down on a mortgage --the fact that i only work part time at the moment --once son goes full time --will be working full time near enough ---so be rolling in it lol and once my husband has finished his RMA ---we wont have any problems ---although we havent at the moment ---its just the principle of the credit scoring ---not history as we dont have problems with that side
i suppose it all takes time and you never know how things work untill go to pillar and post .:rotfl:

jonesMUFCforever

Enough said I think.
I can't be a**ed to help you further!

chani1

sorry if this sounds a bit rude but why are you actually on here?? correct me if im wrong but you wanted to no how to improve your credit score so you can take out MORE debt. At the moment it seems you are presuming you will get a loan with halifax just by opening a current accounts name just to advise that this may not have the affect your thinking of as it takes time to build a good credit rating. Why can't you just manage the debts you already have? As for planning to take out a new loan and how little you no abouts your current debts this seems a tad irresponsible to me. I think you have quite a bit to learn about the world of debt.
Honestly don't mean to be harsh just sound like you don't actually want the help offered.
Just to add you pointed that soon you will "be rolling in it" this is never gonna happen whilst you contine to take on more debt on top of what you owe.

zodan

actually we do manage our money well --the fact of it is that we get money all at different times of the month (so its never a lump sum to live on ---so you never know where your at )---what we are trying to do is get rid of all the credit cards etc and have 2 little ones ---that way we can save £450.00 a month for a mortgage in 5 years time ---but still have money to live on for the month/four weeks and actually know where we are ---i know it sounds mad to you for actually trying to get another loan ---but i have sat down and done two budgets what we do now and the future as daft as it might seem ---it does make sense its not about getting into more debt (although it will be for 5 years ) --- the other loan finishes in a couple of years ---we have a 5 year plan to move forward in our lives and move out of london ---im not going to get a loan and carry on with all my other debts that would be digging another hole for ourselves - if we can save £450.00 a month for a mortgage in 5 yrs we will have £28,500 to put on a deposit----and as for being on this site ---arent all people asking questions regarding loans,credit scoring etc ---as of taking on more debt yes to get rid of the catalogue etc but not to have nothing to live on ---to save ---i know it does sound mad

---

but we can save and also live at the same time ----although the plans we could do that now but we would have to let all the money coming in each month/weekly build up into a lump sum for the month but the problem we get 5 different lots of money each month ranging from the beginning to the middle to the end ---so you cant save on that --with regarding halifax and current account husband been to see the manager ----and has sorted something out with him so has to go back ---its aint my credit scoring im fine ---its husbands
its not that im trying to be an !!!! ---yeah i did want to know how credit scoring worked and so does everybody else!!!!
but thanks for your replies