flummoxed

snapdogs

Got a credit report today as were declined a loan, we have one loan which is less than £1500 recently paid off a loan which was running in arrears. I found 21 different insurance company names obviously whilst searching online for car insurance that was over a period of 2 years. There is a CIS General insurance - another quote never taken out but it has 'Money Laundering product' written above it?
No CCJ's nothing else flags up why we have been declined, and are completely perplexed?
The company we applied to for the loan said to get the report, I have never bothered doing this before as we have never been declined any credit... so what are we supposed to do now?
Answers on a matchbox please........

[Deleted User]

It you have had recent arrears on a loan, that will be a very likely reason for you being declined new credit.

Tixy

The insurance quotes will not have impacted on the credit decision.

If your credit file shows that you have not maintained payments recently on past loans that may well be the reason for the decline. Or part of the reason for a decline.

As an aside - which credit reference agency file have you viewed? does the search by the lender who declined you show on there? if not then they have probably used one of the other 2 credit reference agencies anyway.

snapdogs

Deleted_User wrote: »

It you have had recent arrears on a loan, that will be a very likely reason for you being declined new credit.

The AR were from 2012 and the company just told us that the £110 would be added at the end of the term, so it has been running with this small AA from 6 months after it started. Would probably have been better just to have paid the underpayment but we had never defaulted on any payments it was arranged with them...

snapdogs

Tixy wrote: »

The insurance quotes will not have impacted on the credit decision.

If your credit file shows that you have not maintained payments recently on past loans that may well be the reason for the decline. Or part of the reason for a decline.

As an aside - which credit reference agency file have you viewed? does the search by the lender who declined you show on there? if not then they have probably used one of the other 2 credit reference agencies anyway.

call credit.

Thrugelmir

snapdogs wrote: »

which was running in arrears.

Red flag to any lender.