hi all loan help

snatcho

i am after a loan to consolidate,my rating is fair but still cant get acceptance,i earn 25000 per annum no ccj's or defaults or missed payments.can any one help??thanks

Rafter

snatcho,

There must be another reason why you are being rejected.

How much debt have you got versus your income?

Are you on the electoral role?

How long have you been in current job or at current address?

Have you asked your own bank?


Because of the amount of people going bankrupt and the problems at Northern Rock, Banks are being more cautious about who they lend to and how much. It may be that you have to try a different route such as snowballing......

Work out all your debts with minimum payments and interest rates. Give yourself a tough budget each month. Pay the minimum on everything and then any left over pay off the highest interest rate debt.

That way you should start to reduce the amount of debt you have and the interest you are paying as quickly as possible and hopefully don't need a consolidation loan to spread your current borrowing over a longer period.

R.

Ahmed

I was in exactly same position as you. I earn reasonable well and have about £1000 in disposal able income. I have over £3000 in saving. I applied to my bank (HSBC) and was turned down. I checked with Experian and my record was fine - never a late payment or CCJ etc. I applied with Egg and loan (£25,000) was granted with any need for a referral. (Ihave a card with them prior) Needless to say I am in the process if shifting my CA away from HSBC after 20 years.:mad::mad: