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Candyapple

For someone on £28k with only a small credit card debt, on electoral roll and no late payment markers or CCJs or defaults, something seems amiss that you were declined for finance on a TV (assuming the TV wasn't 10 grand or something silly).

Check your Experian and Equifax files. Do you have any financial associates on your files?

What ‘notes’ or pointers show on your Noddle file that they explain why they have given you a ‘Poor’ rating?

mrB_3

Candyapple wrote: »

For someone on £28k with only a small credit card debt, on electoral roll and no late payment markers or CCJs or defaults, something seems amiss that you were declined for finance on a TV (assuming the TV wasn't 10 grand or something silly).

Check your Experian and Equifax files. Do you have any financial associates on your files?

What ‘notes’ or pointers show on your Noddle file that they explain why they have given you a ‘Poor’ rating?

Ahh ok I can see here this is what noddle is saying:

1. Open and/or closed defaulted accounts
2. The total balances on your lending have increased over the last few months
3. You're currently over your credit limit on one, or more, of your accounts (Not anymore - this was one day which I paid it straight back)

Candyapple

So you do have defaults. That’s the big red flag right there as to why you’re being declined. Also being over your credit limit is a massive no-no.

Why not clear your credit card balance and then save the £250 per month for 1 year? That way you don’t have to worry about taking out finance unnecessarily and in any event, considering your file shows you have a default(s), I doubt you would be accepted regardless.

CLAPTON

mrB wrote: »

The ring is 3k
And my anual salary is 28k + Bonus here and there, I'm not really in any debt apart from a credit card that I'm paying off, but if I wanted to settle that I could any month really.


Hi Chanz,
I was told you should roughly spend two months wages on a ring, which I am essentially doing, just under.

The reason I wanted to do 3 years is because 3k over 3 years is practially no strain whatsoever on my income, should I have something extra to buy 1 month. The ring also comes with a wedding band, so its kind of worth it.

I could pay it off in less time if I wanted really.

you need to rethink your attitude to money

pay off the CC debt asap even if it means having a no spend month

start saving at least 10% of your income to build up a saving pot.

Paully232000

the more you drip-feed information, the more it is looking unlikely you are going to get this finance.

Gaz83

mrB wrote: »

Ahh ok I can see here this is what noddle is saying:

1. Open and/or closed defaulted accounts
2. The total balances on your lending have increased over the last few months
3. You're currently over your credit limit on one, or more, of your accounts (Not anymore - this was one day which I paid it straight back)

Why not just be honest from the start?

Would you go to a financial advisor with half the information missing and expect to be given accurate advice?

mrB_3

Candyapple wrote: »

So you do have defaults. That’s the big red flag right there as to why you’re being declined. Also being over your credit limit is a massive no-no.

Why not clear your credit card balance and then save the £250 per month for 1 year? That way you don’t have to worry about taking out finance unnecessarily and in any event, considering your file shows you have a default(s), I doubt you would be accepted regardless.

Thanks for your help Candy, I just noticed the section showing why its affecting my rating. You wouldn't happen to know how I can find out what the default is for in Noddle? or will I have to go on Experian to find this out?

Paully232000 wrote:

the more you drip-feed information, the more it is looking unlikely you are going to get this finance.

Yeah I realise this Paully, there were a few things I hadn't notice, just read up on this whole default situation which is really bad, must be why I have had these issues in the past. Thanks

mrB_3

Gaz83 wrote: »

Why not just be honest from the start?

Would you go to a financial advisor with half the information missing and expect to be given accurate advice?

When asked about defaults I thought you meant missed payments, which I don't have, I didn't notice the section on Noddle where it was saying whats affecting my score (Right under my nose):eek:.

I didn't realise I had a default on my account, sorry about this misinformation guys

Candyapple

mrB wrote: »

Thanks for your help Candy, I just noticed the section showing why its affecting my rating. You wouldn't happen to know how I can find out what the default is for in Noddle? or will I have to go on Experian to find this out?

Yeah I realise this Paully, there were a few things I hadn't notice, just read up on this whole default situation which is really bad, must be why I have had these issues in the past. Thanks

If you click on the link 'Financial Account Information' it should show all your current credit agreements. Look for the one with status 'Default' in red on it and expand it to see who the lender is and how much you owe/date the account defaulted.

You really need to have copies of all 3 credit reports to see what is on them, however don't pay for the 'score' as this is pointless. Just the £2 to obtain your statutory copy.

mrB_3

Candyapple wrote: »

If you click on the link 'Financial Account Information' it should show all your current credit agreements. Look for the one with status 'Default' in red on it and expand it to see who the lender is and how much you owe/date the account defaulted.

You really need to have copies of all 3 credit reports to see what is on them, however don't pay for the 'score' as this is pointless. Just the £2 to obtain your statutory copy.

Ughh I found the !!!!!!, it was under closed accounts, from natwest in 2010! It was when I was astudent, but I thought this was settled, looks like it was settled as a default.

Am I right in saying this will be removed soon in like a year? as a default lasts 6 years?