Career Development Loan

yorpington

I've been accepted onto an MA starting in September this year, and I have phoned up the careers line to get an application pack for a CDL. DH and I are snowballing at the moment, and our current projection is that by the time the interest-free period on the CDL is up in 2015, we will be debt-free and have saved enough to pay it off in full.

My concern is whether or not I may be turned down for the CDL because of other credit agreements in my name. I have had no missed payments or anything, it's just that there have been quite a lot of agreements! I've been trying to streamline recently, so as well as paying off our sofa early, which was in my name, I've closed down extra bank accounts which had O/D agreements but weren't being used.

Of the debts in my signature, the ones in my name are Apple, the overdraft, university and the lower-balance credit card. The loan and higher-balance credit card are both in my husband's name.

My current overdraft will be paid off at the end of this month, and Apple will be paid off early during April. My remaining undergraduate fees (I'm an OU student using OUSBA) will be paid off slightly early at the end of April.

That should mean that when I apply for the CDL in June, the only things in my name should be my credit card (which I hope to have almost paid off by then) and my mobile phone. Well, and household bills I guess. I've never had a late payment or anything like that.

Do you think it will affect my chances to have had all these credit agreements, even though I will have paid most of them off by then? The guy on the phone said they're used to dealing with undergraduates who have debt coming out of their ears. I'm worried I'll get declined for the CDL, after doing all this work to get accepted on the MA!