What's the likelihood of me getting £15k loan in the next 6 months?

dervyx

I have a surgery scheduled for November this year and i'm thinking about getting a loan for around £15k (over 4-5 years) to pay for it. I'm currently 22 and have lived with my parent at the same address for the past 6 years. Current salary is £16k.


Current credit cards:


Aqua since August 2015: Balance £0 (Credit Limit £1600) - went over limit once in 2015. Looking to close soon as APR is high and closed accounts should hopefully count as a plus.


Barclaycard Initial since Oct 2015: Balance £0 (Credit Limit £800) - went over limit twice when I was struggling. Closed last month in hopes to apply for Barclaycard Platinum in 6 months.


Vanquis since Jan 2016: Balance £600 (Credit Limit £1700) - Looking to close as soon as I clear the balance as they have increased my APR recently.


Marbles since Oct 2016: Balance £0 (Credit Limit £1800) - Will close soon as don't need it


Lloyds Platinum since February 2017: Balance £700 (Credit Limit £750) - Applied to make a balance transfer but they only offered £750 limit.


Never missed a payment.


Experian score shows as poor - average. Noddle shows 8 positives with 1 negative (that I went over credit limit few times). I've had my Lloyds current account for the past 5 years and have opened Barclays current account in January (kind of regret it now as I didn't realised I would have been hard searched).


If I manage my cards well, clear all debts and leave only Lloyds Platinum in case I ever need it would it be likely that I would be accepted for such a loan in October-November?

lovinituk

I reckon you have zero chance.

IAmWales

Do you need £15000 of surgery or do you want it?

Taking out that amount of debt on such a low income is going to lead to years of misery.

DCFC79

Take out a loan for a small amount and save the rest you need. Live like a hermit if you need too. Beans or cheese on toast, pasta for tea, live really frugally for the next 5 months.

Cant see you getting a £15k loan on a salary of £16k myself.

What is the surgery for ?
Is it really needed ?

Caz3121

how much have you saved to date and how much will you be able to save before your operation? Do you have anything you can sell to raise funds? Have you considered a second job?
You may be able to get a loan of about £5k-£7k based on income and current debt balances but £15k is very unlikely

dervyx

Thanks for all the replies.

It is a double jaw surgery and yes, it is needed as it's the only way I will ever end up with correct bite.

I guess I wil re-schedule for next year then and save up certain amount every month. Hopefully by then I could get a loan to cover remaining amount.

Gambler101

One of my best friends had maxillofacial jaw surgery on both upper and lower jaw. (Involved breaking both jaws and re-alligning to solve an overbite condition.)

It was a major operation and unfortunately he suffered a severe haemorrhage a week later and had to have a life saving operation and jaws re-set.

He is left with loss of sensation in his bottom lip and part of his face, has trouble eating and drinking, lots of pain and lack of sleep etc, also he had to quit his job and suffers terribly 5 years on.

Be aware this operation is risky, if the NHS dont deem it necessary then I wouldnt have it without seriously thinking about it.

enthusiasticsaver

You would be better off saving up for at least half of this. Taking out more than one years salary on a loan is not likely to be agreed.

enthusiasticsaver

Also it is not wise to have 5 cards at your salary level. Why not just stick to one or two and pay them off every month. That will help your credit rating. 5 is not sensible.