Can't get a loan or any answers

Bearcott

Sorry if this is in the wrong section but I'm new to this and I'm at my wits end I don't know where else to turn.
I have been trying to get a loan for nearly two years, and I'm always straight refused but I can not get an answer why. I've been through it all with my bank and they will not give me an answer and don't have to. I have a great credit rating and history, on the electoral roll, I'm self employed but I have full time work and regular pay etc...
I just need to find out what the problem is so I can fix it as I still need to b able to get the loan, but no one will tell me the reason or how to go about finding out what it is.
Any help will be greatly appreciated

MovingForwards

Have a look on your credit reports:

MSE credit club
Credit karma
Clearscore

Ignore the scored / ratings as they are not seen or used by institutions, they have their own internal scoring.

How much are you looking to borrow, what's it for and how often are you trying?

[Deleted User]

Bearcott wrote: »

Sorry if this is in the wrong section but I'm new to this and I'm at my wits end I don't know where else to turn.
I have been trying to get a loan for nearly two years, and I'm always straight refused but I can not get an answer why. I've been through it all with my bank and they will not give me an answer and don't have to. I have a great credit rating and history, on the electoral roll, I'm self employed but I have full time work and regular pay etc...
I just need to find out what the problem is so I can fix it as I still need to b able to get the loan, but no one will tell me the reason or how to go about finding out what it is.
Any help will be greatly appreciated

What's actually showing on your credit history? Are you a home owner and which lenders have you tried?

jonesMUFCforever

If you have managed for two years without a loan - why do you need/want one now?; also if you had a loan the monthly repayments you have not been making must be held up in a savings account - right?
If not you may not be able to afford one.

Ben8282

How often have you applied over the last two years?
How much are you looking to borrow?
What did your bank say to you exactly when you went over it all with them?

DCFC79

Been trying for 2 years, I wonder if its because your self employed but just a hunch.

foxy-stoat

Have you been making an application once a month for 2 years? After the 3rd time it will more than likely be an instant decline - maybe you should of come on here in early 2018 for advice.

Bearcott

I have used experian, Equifax and clear score, the only blemish I can find is a missed phone bill payment about 5 years ago. I am not a home owner. I was initially trying to borrow £7000 for a car but I dropped it to £2500.
At the start I tried a few times with the AA, post office and a couple others but then I just went to my bank barclays to get some answers.
I found out that when I opened my account nearly 9 years ago for some reason I was set up for an account for people who had bankruptcy in their name which I've never had and also I'd never had any finance or loans, we went through my credit rating and history with all 3 companies and there was nothing there apart from an excellent credit rating and history.
A new account was set up for me and on the banks advise I managed to get finance on some tyres for my car to show I could make the repayments, I was advised to wait for 2 months then so I had 2 months of activity in my new account. I waited for 6 so the loan applications were long enough ago and tried again with the same answers, no loan and no reason.
So I made complaints to my bank which took a couple of months to still get no answers. I next went to the ombudsman but used resolver to make my case and they just wasted my time and didn't do anything. So I went to the ombudsman direct waited for another few months to finally get the same answers but the girl will look into seeing if I was treated right by barclays. But there is no law for them to give me a reason for refusal so they don't.
So I'm stuck with a problem which I don't know what it is and I don't know how to find it out, I've managed to kinda sort my car situation so I don't need the loan now as desperately as I did but I need to get this sorted for my future like for a mortgage.
Again any help will be appreciated
Thanks

[Deleted User]

Checking CIFAS would be my next port of call.

Ben8282

At the start I tried a few times with the AA, post office and a couple others but then I just went to my bank barclays to get some answers.
So you went to Barclays to find out why the AA, the Post Office and a 'couple of others' had rejected you. How would you expect them to know?

on the banks advise I managed to get finance on some tyres
Odd advice from a bank to get finance to buy some new tyres. What sort of finance was it? But you got it though so you are not being rejected for everything are you?

I'd never had any finance or loans,
This could well be a factor in the rejections

we went through my credit rating and history with all 3 companies and there was nothing there apart from an excellent credit rating and history.
Did you really sit down with a member of the bank staff and go through all your credit reports in detail? If they were being that helpful I wonder why this ever so helpful staff member didn't as much as speculate as to what the problem was. You are after all a current account customer of the bank. Presumably your earnings pass through the account? Also what history ... you have never had any finance or loans.

I next went to the ombudsman but used resolver to make my case and they just wasted my time and didn't do anything. So I went to the ombudsman direct waited for another few months to finally get the same answers but the girl will look into seeing if I was treated right by barclays.
I really don't understand the purpose of all this complaining to the ombudsman that you were refused a loan. Where did you expect it to get you?

Have you considered applying for a credit card rather than a loan? It may be easier to get.

foxtrotoscar_2

Where is the money you would have used to repay the loan over the last two years?