Being refused for loans...

edited 30 November -1 at 1:00AM in Loans
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hevaaahevaaa Forumite
4 Posts
edited 30 November -1 at 1:00AM in Loans
I am currently looking for a loan of £5000. I have just paid off an Egg Loan of £8000, on which I never missed a payment.

I called up Egg to see whether I could get a new loan and they have refused me. I have also tried the Post Office and they refused me as well.

I can only think that they are refusing me because last year I got into a pickle with my overdraft and incurred quite a few charges.

The loan is to pay off a friend who basically paid off all my debts to help me out, but now needs the money back. I thought at the time it would be easy for me to get a new loan to pay him back whenever he needed it, but I am struggling to get accepted.

I'm not sure what to do, I am not keen to keep applying to different loan companies and keep getting refused...as this will surely effect my credit rating even more?

Any advice appreciated.

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