no loans

richierich007

hi all 1st posting here so here goes
defaulted sept 2007 cleared in 2008. so that drops off my file this sept
no other bad credit on my file, barclaycard 8,500 credit on here to use inc 6 months 0% balance 0
barclaycard no2 3000 limit balace 750 0% offer, payback 150 per month reg DD
so good so far , 5 payday loans last june all paid on time no probs there
current acc not on file (lloyds) dont know why , reg income on election roll same job for years same house etc etc
900 on experian scores
and refused for a lloyds loan at my own bank hmmm
im in no other debt than ive shown on here
so checked to see if i can get a loan using experian adverts and yes got accepted (10k) only prob is the rate (23%)
went and tried my luck at barclays and intresting enough no i didnt get the loan i asked why i had been refused i was honest with barclays straight away informed the clerk of my default and another adviser entered the convo and said according to the result that its not the default thats refused me infact that hasnt even had anything to do with it looking at the screen and there internal codes the default had nothing to do with it , its down to that ive got so high credit in my wallet to go wild as i like even if i was given the loan, so it looks like it not good to have high CC as its dead cash if i cant get a loan
i called lloyds today and i was told to bring all experian reports in my branch and they will look at my case
im just a bit worried with the payday loans from last year are showing

so to me if your in your in default for say the last 6 months of the 1 and only default on your file you should be fine if its just for a loan or cc, oh yeah and ive had a proper loan (tesco) for 12 months 3 years ago all paid on time plus phone contracts etc all showing 0`s

help pls will this be over turned as i really dont want to pay and extra 100 a month for 4 years to the offer thats been made from experian adverts

oh and when will it be i can start getting loans again ??? sept this year or after i close my CC down

oh and the loan was for 10k

gb12345

richierich007 wrote: »

hi all 1st posting here so here goes
defaulted sept 2007 cleared in 2008. so that drops off my file this sept
no other bad credit on my file, barclaycard 8,500 credit on here to use inc 6 months 0% balance 0
barclaycard no2 3000 limit balace 750 0% offer, payback 150 per month reg DD
so good so far , 5 payday loans last june all paid on time no probs there
current acc not on file (lloyds) dont know why , reg income on election roll same job for years same house etc etc
900 on experian scores
and refused for a lloyds loan at my own bank hmmm
im in no other debt than ive shown on here
so checked to see if i can get a loan using experian adverts and yes got accepted (10k) only prob is the rate (23%)
went and tried my luck at barclays and intresting enough no i didnt get the loan i asked why i had been refused i was honest with barclays straight away informed the clerk of my default and another adviser entered the convo and said according to the result that its not the default thats refused me infact that hasnt even had anything to do with it looking at the screen and there internal codes the default had nothing to do with it , its down to that ive got so high credit in my wallet to go wild as i like even if i was given the loan, so it looks like it not good to have high CC as its dead cash if i cant get a loan
i called lloyds today and i was told to bring all experian reports in my branch and they will look at my case
im just a bit worried with the payday loans from last year are showing

so to me if your in your in default for say the last 6 months of the 1 and only default on your file you should be fine if its just for a loan or cc, oh yeah and ive had a proper loan (tesco) for 12 months 3 years ago all paid on time plus phone contracts etc all showing 0`s

help pls will this be over turned as i really dont want to pay and extra 100 a month for 4 years to the offer thats been made from experian adverts

oh and when will it be i can start getting loans again ??? sept this year or after i close my CC down

You've got 11.5k credit available to you already, which will be considered by the loan underwriters - if you're applying for 10k then you would need to be earning in excess of 43k for them to consider you.

Add to that the default and the mere fact that you used PayDay loans and you are not looking a good risk for the mainstream lenders. And 3 recent loan applications on your credit file will not help either.

richierich007

thanks for the quick reply
as for my wages is near enough that mark you mentioned , which goes in my acc bang on time every month for a v long time and work looks v good
yes 3 searches but now no more , infact my lloyds didnt show up on my file 3 weeks ago
as i said its the payday loans that worries me, if it means to close my CC down to get the loan or to keep 1 open at 1k id be happy with that
lets see what my bank comes up with

somethingcorporate

The salary value is only if you are a squeaky clean borrower, so I'd suggest losing some of the available credit if you are not using it.

richierich007

i had a thought and see if my barclaycards would lower there rates
so i called barclaycard up and the 0% is there for transfers but none for buying stuff
i said whats the difference your still getting bank charges from the seller, but they wouldnt have it , unless i applied for a new card on 0% for everything , which is pointless as ive been refused for 2 loans

so looks like im going to have to see what lloyds says or then drop my limits in total to 1k till sept when the default drops off to see if that pushes my score up a bit past the 900 mark
shaking my head getting knocked back at score of 900
ps its like getting 90% in a exam and still failing yet other people pass on 70%

gb12345

richierich007 wrote: »

see if that pushes my score up a bit past the 900 mark
shaking my head getting knocked back at score of 900

Forget the scores they are just meaningless numbers assigned by the credit agencies - lenders do not consider them, they have their own criteria.

richierich007

so after this time building my credit upto 11.5k in 5.5 years i get kicked in the teeth for playing ball and then getting knocked back for playing by the book
yes i`ve got credit but in the wrong dept lol
i might aswell start the default off again

gb12345

richierich007 wrote: »

so after this time building my credit upto 11.5k in 5.5 years i get kicked in the teeth for playing ball and then getting knocked back for playing by the book
yes i`ve got credit but in the wrong dept lol
i might aswell start the default off again

What do you actually need the 10k for?

Your problem is that you've gone about improving your history in the wrong way, so you've now got an unused credit level that means that you aren't attractive to the mainstream lenders.

If you get rid of the large unused credit card, keep the other one and spend and repay in full on it each month (the fact that you only appear to be able to currently pay back part of the balance each month is also a negative) then you will build a good history over the next 6 months.

richierich007

using the loan to get a new car 18k (8k p/x) 10k loan
im paying back 150 per month as its intrest free not often u get that off a bank , i could pay it off in full but thinking ive got a free loan , so yes i could pay it off not a problem
but my bank sees my wages going in the same day everymonth for 20 years now if thats not telling you something i dont know what is
i would have payment date set for payday
so its start of the 6 months countdown again i started that last month
only been waiting 5 nd a half years so far whats an extra month
so time to close my 8500 card and lower my 3k down to say 1 ??

btw am i wasting my time at my own bank on mon ??

sistafromanothermista

So, you earn 45k ish, have the money so 'don't really need a loan' but took PDL's out last yr.....?
Might be an idea to look at your spending habits first....

Thrugelmir

richierich007 wrote: »

i might aswell start the default off again

Seems as if lenders have your attitude well sussed then. Credit profiling of applicants is improving all the time. So there's fewer places to hide now. Days of easy credit are rapidly disappearing.