Refused for loans???

donna1987

Hi there. Just wondering if anyone can shed any light onto my situation. Im needing to get a loan for about £5000 as Im about to move from a furnished house to unfurnished from the south to the north, I need the deposit and I figured I may as well pay off my credit cards while Im in the process (just under 2k). We dont have any savings at all which would pay for the move so I think a loan would be my best option.
Obviously I checked my credit reports with experian and equifax first to see where I stood, and they where very good with only 1 late payment on a catalogue over 16 months ago. Im 21 so I dont have tons of credit history, but what I have is good.
Problem is the companies I've tried have refused, saying its not that I have bad credit, but they can't tell me why. Other than maybe my history not being very long, I can't think why else they would refuse. Any ideas? I don't want to keep applying to places and ruining my credit files by being refused even more. Also any ideas of where I could apply where they're not too fusy about these things?
Thanks in advance
Donna
xxx

Phantom_Flan_Flinger

donna1987 wrote: »

Other than maybe my history not being very long

That could well be a factor.
Are you on the Electoral Register where you are??

Also any ideas of where I could apply where they're not too fusy about these things?

Unforunately, the sort of companies that aren't too fussy aren't the ones you want to be borrowing money from.

donna1987

yes im on the electoral register at my current address and have been since we moved here over 2 1/2 years ago. I was also on the register for my previous address from the day i turned 18.
lol, yes i know I wouldnt want to borrow from the non-fussy ones, but surely there is a middle of the road lender around, as opposed to just the really good ones and the really bad ones???

donna1987

just a bit of info that might be useful to some people on the forum, I just had a call back from a company called uk finance who deal with loans for tennants. they wanted some information to determine whether its likely id meet their criteria, before they did the credit check(which is good in my opinion) but then they said they wouldnt go ahead, because although i have a good number of creditors, im not in enough debt!!! apparently i needed to have £47 more of debt before they could consider doing a credit check.
so the solution seems to be, if you need a loan- go over your credit limit and spend more on your catalogues!

Darjo

Be very careful with companys that ring you out of the blue, by them saying you need to be further in debt for them to carry out checks sounds like they are more of a company who deals with people with ccjs bankruptcy etc

If they rang you out of the blue it seems that one of the companys you have applied to has sold/passed your details onto them

donna1987

thanks for the warning, it was a company that i had filled in an online enquiry form for though. the website was http://www.tenant-loan.com/ and the website doesnt say anything about having to be in debt trouble to qualify, just that bad credit and ccjs etc will still be considered. but i think your right in that they dont deal with you unless you have those. silly really! lol. at least they had the good practise to check i met their criteria before leaving a search on my credit file, unlike most places. i dont get why they cant just tell you before the credit search if you meet their criteria from what you have told them and then if your credit file doesnt match up, then refuse you. makes no sense to me.
looks like im going to have to look for a different place to move to cause i cant get the deposit in time and im not wanting any more searches on my credit file for a loan if they're just going to decline.
thanks for your help though guys!