Any help hugely appreciated

Foxy13_2

Hi All,

I'm having a very hard time in getting a loan to purchase a car.

I did have one previous loan for £1000, which I was to repay over 1 year. I ended up missing 4 payments on this due to going out of work, but immediately after finding work, I contacted the underwriters and agreed to pay extra each month so that the loan was paid back in full, on time. Wish it was.

I was ignorant to how much it would have a knock on effect to my credit score and now I'm badly stuck.

I applied then for a second loan from my bank (Bank of Ireland), which was rejected. That was pretty much straight after I had repaid the first loan. They advised me to try again in 4 months time, which would have been October '13.

A few weeks ago I then seen a car I liked and applied for finance through a dealership, which came back as rejected. I then went into the bank and applied there, with a a guarantor, which was also turned down (6 months after originally applying).

I then obtained a copy of my credit report from Experian. It's now showing 11 late payments? Last week it showed 10.

Now I have no direct debits or standing orders from that account and my working wage is paid in each month.

I took this to the bank to question them about it, to which they said that I went into an overdraft in February '13. When I purchased an item from Argos, I had credit. The payment didn't come out till a few days later (I assumed it was instantly withdrawn) and in this time I had spent more money, meaning when the payment was eventually taken out, it knocked me into an overdraft. I argued that I didn't have an overdraft facility on my account and she basically said it's up to me to manage my finances.

Each time this occured I was also charged £40. The same happened next month with Sainsburys and in total I think I had 4 months of this in a row. I assumed the total amount was instantaneously withdrawn from the account.

It also shows I have no settled credit. I obtained a copy of my payment/loan history with the underwriters to ensure the balance on the loan was nil and that it was repaid in full and on time, which was confirmed via letter from them.

Basically I have no idea what these other late payments are that keep being added, the bank are simply washing their hands with me and to be honest I have no great understanding of my report and where I stand so any advice or input would be hugely appreciated.

Thanks for taking the time to read this.

KR,
Ciaran

CLAPTON

stop
think
cut spending
start to save
only spend what you have saved

Thrugelmir

Foxy13 wrote: »

I argued that I didn't have an overdraft facility on my account and she basically said it's up to me to manage my finances.

Never too late to change ones ways. Start tomorrow. With a new approach.

forgotmyname

With all those applications in such a short space of time you dont want to be applying for anything credit related for at least 6 months.

No loans, Credit cards, Phones and especially not payday loans etc.

No idea you were being charged for going overdrawn? No letters, No emails or no statements?

I assume payments by debit card were taken fairly quickly, Sometimes i would goto the supermarket and come home to see the transaction. But once I did some shopping at Asda on a Sunday and the payment didnt show until Thursday.

The previous loan doesnt show as settled? What is it being shown as? Ask them to update it.

But if i were you start building up a safety net. This Friday i will be putting money into the bill account to cover the direct debits in March + some extra to cover my usual Ebay essentials that i spy.

No need to rush around putting money in the day before the bills come out.

And dont apply for credit for a couple of years, Ideally..