Single Father In Need of Help!!

Sharad1a

Here is a doozy for you,

Recently separated from Wife and we 4 have children. All the bills came from my bank. Now because of miss management of the bills by the wife when they get paid. Late payments have show up. This has now made it completely impossible for me to get any kind of credit even for a small loan despite being debt free.

For context I am trying to obtain a small loans of between £2000 - £3000 for a run around car due to having small kids and running around after them at 3 different schools is a nightmare. The issue stems from me having the care of the kids with me at home and she moving to a new flat of her own but taking our 7 seater car which was bought with money in her name. Our Divorce is not final and the financial separation hasn't even begun yet and can take some time.

So I have tried some bad credit lenders and no one will accept me. What can I do? This is fast becoming a nightmare scenario for me and where we are living the public transport is poor.

Any Magicians out there with advice?

MorningcoffeeIV

Not sure what the doozy part is.  You have a poor credit file so are unable to get a loan. That's pretty standard.

The solution is to cut costs, save and buy the cheapest car you can for the time being.

Head for the DFW boards for budgeting help.

Sharad1a

MorningcoffeeIV said:

Not sure what the doozy part is.  You have a poor credit file so are unable to get a loan. That's pretty standard.

The solution is to cut costs, save and buy the cheapest car you can for the time being.

Head for the DFW boards for budgeting help.

Its because the bills were in her name not mine but the money was coming out of my named bank account. The only one that was in my name was a phone bill that was always paid on the 14th but was due on the 11th when the money was coming. I looked at credit file and I don't see any marks showing missed/payments. I was hoping someone had alternate places or lines of credit and I hadn't explored yet as its all well and good pointing out the obvious cut and save policy but in short term to medium term that doesnt help me at all. 

MorningcoffeeIV

There aren't alternative lines of credit that won't assess your risk apart from a bloke down the pub, but their collection methods are more direct and to be avoided.

If you've already tried the bottom rung of the credit ladder, then using your own money is the only route forward.

eskbanker

Sharad1a said:

So I have tried some bad credit lenders and no one will accept me. What can I do?

Sharad1a said:
I was hoping someone had alternate places or lines of credit and I hadn't explored yet as its all well and good pointing out the obvious cut and save policy but in short term to medium term that doesnt help me at all. 

If you wanted specific alternative suggestions then it would make sense to clarify who you've tried so far.  Is your bank unwilling to offer anything?  Have you tried eligibility checkers, etc?

https://www.moneysavingexpert.com/eligibility/credit-cards/search/
https://www.moneysavingexpert.com/eligibility/loans-calculator/search/

Sharad1a said:
I looked at credit file and I don't see any marks showing missed/payments.

Have you checked all of the credit rating agencies?  Were there any negative factors mentioned that might explain why you're being rejected, e.g. presence on electoral roll, etc?

https://www.moneysavingexpert.com/loans/check-free-credit-report/

redrosebud

Sharad1a said:

Now because of miss management of the bills by the wife when they get paid. Late payments have show up. This has now made it completely impossible for me to get any kind of credit even for a small loan despite being debt free.

Late payments have shown up - where? On your credit report or on her credit report?

Sharad1a said:
Its because the bills were in her name not mine but the money was coming out of my named bank account. The only one that was in my name was a phone bill that was always paid on the 14th but was due on the 11th when the money was coming. I looked at credit file and I don't see any marks showing missed/payments. 

If the bills were in her name they should not be showing up on your credit report, it doesn't matter that they were coming out of your bank account.

You said above that late payments have shown up but now you're saying you don't see any marks on your credit file - which is it?

Sharad1a said:

Our Divorce is not final and the financial separation hasn't even begun yet and can take some time.

Do you have a joint bank account or mortgage? Is she shown as a connected person on your credit reports?

I'm trying to understand a little more about where your inability to get credit is coming from. If there are no missed payments etc on your credit file then the only way the bills could have an effect would be if your wife is a "connected person" on your credit reports - is this the case? Even still, many utility companies don't report to the CRAs. 

The phone bill that you mention that's in your name - is this on your credit reports?

What lenders have you applied to?

How many lenders have you applied to, and was this in a short space of time? How many hard searches are on your credit reports?

What's the rest of your credit file like? Are you on the electoral roll at your current address, and is this reflected in your credit reports? Do you have a mortgage, any credit cards, loans, and are these in good standing?

From the information you've given I'm not sure that the "mismanagement of the bills by the wife" is what's causing your problems.