applying for credit - means score goes down

rintyrad

All the above information was confirmed at the time of your application and would have left you with
a disposable income of £600.00. We can confirm that based on the information provided your highest
instalment would never have exceeded 32% of your monthly disposable income. This is in accordance
with Mr Lender’s responsible lending policy and suggests the loan was affordable.
We can confirm that although we were not obliged to conduct a credit check, as a responsible lender
we carry out credit checks on all applications. The results of your credit check showed you had a credit
score of 576. This score is considered average when compared to the scores we had seen during 2015.
You also had no accounts registered as defaulting or in delinquent status within 12 months prior to
your application date and there was also no evidence of any IVAs or Bankruptcy on your credit file.
During your loan agreement you failed to make your scheduled repayment due on the 25th January
2018. We attempted to contact you on several occasions to offer help and support. However all our
attempts were unsuccessful. Due to non-payment and no communication your account was eventually
passed onto the third party Debt Collection Agency SLL Capital Solutions.
Having reviewed and investigated your complaint, we believe that all checks were carried out in line
with the company’s responsible lending policy. All the assessments conducted by Mr Lender were
completed in accordance with the regulatory requirements and guidance at the time of your loan set
out by the Office of Fair Trading.

Willing2Learn

That shows they scored you against their own independent criteria and policies using the data held in your credit file, added to the data you submitted in your credit application, added to the data Mr Lender may have already held on you as an existing customer.

Nasqueron

Interesting that the lender let you know their own scoring data (hint - it's not the one you get from Experian unless the lender has no internal systems of their own!)

Willing2Learn

rintyrad wrote: »

how do i attach an image so i can show you?

that will shut some of you score idiots

Well, I guess this post demonstrates that you will never shut this idiot down lol

Ben8282

rintyrad wrote: »

All the above information was confirmed at the time of your application and would have left you with
a disposable income of £600.00. We can confirm that based on the information provided your highest
instalment would never have exceeded 32% of your monthly disposable income. This is in accordance
with Mr Lender’s responsible lending policy and suggests the loan was affordable.
We can confirm that although we were not obliged to conduct a credit check, as a responsible lender
we carry out credit checks on all applications. The results of your credit check showed you had a credit
score of 576. This score is considered average when compared to the scores we had seen during 2015.
You also had no accounts registered as defaulting or in delinquent status within 12 months prior to
your application date and there was also no evidence of any IVAs or Bankruptcy on your credit file.
During your loan agreement you failed to make your scheduled repayment due on the 25th January
2018. We attempted to contact you on several occasions to offer help and support. However all our
attempts were unsuccessful. Due to non-payment and no communication your account was eventually
passed onto the third party Debt Collection Agency SLL Capital Solutions.
Having reviewed and investigated your complaint, we believe that all checks were carried out in line
with the company’s responsible lending policy. All the assessments conducted by Mr Lender were
completed in accordance with the regulatory requirements and guidance at the time of your loan set
out by the Office of Fair Trading.

rintyrad wrote: »

My question is once you've applied for credit how long after does it take for your score to go back up? as in its gone down by 46 points. seems a large amount.

Getting confused here. You say in your OP, where you make no mention of a recent loan default, that your credit score has dropped as a result of making an application for credit. Has it not occurred to you that the drop could be due to your having defaulted on a loan agreement?
The letter from the loan company mentions a credit score, but which credit score? This number 576 is meaningless as it doesn't say what it is out of. Is it 576 out of 577 or 576 out of 9999? Who knows? Who cares (as it is a meaningless number)?

Takmon

rintyrad wrote: »

how do i attach an image so i can show you?

that will shut some of you score idiots

So you don't know how to upload an image to an image hosting site yet we are the idiots :rotfl:

rintyrad wrote: »

The results of your credit check showed you had a credit
score of 576. This score is considered average when compared to the scores we had seen during 2015.

What a strange thing for them to include. They could have said your credit score was "2 Apples plus a Banana" and it would give you the same information as giving you that number in a letter.

But out of interest can you explain where you think this "credit score" has come from, i want to see if you understand what it is.

[Deleted User]

Only an average score?

Oh dear you need to work on improving that.

If you ask nicely someone might donate you some of theirs.

Or we can send the unicorn that poops them out.

stevelo

your attitude stinks!!! extremely rude so why should anyone offer any help or advice baffles me.