NEED A LOAN BUT BEING REJECTED

[jambo1707]

What do you have to do to get a loan???????

DH an I had a loan with our bank around 2 years ago which was paid in full, Circumstances are bllek right now and we would like to consolidate all our outgoings to 1 e.g car, catalogue dh loan

We are being constantly rejected even when lowering our amount.

DH dad has got a loan for us but we would like to clear that so we have 1 outgoing and maybe a bit to spend on us and the boys each month.

Is it true that the more you apply your credit limit is reduced?????

We rent our house and all loans we have seen are for home owners, there was a tenants loan company but for £15000 you paid back after 3 years 24000

we want to lessen our debt not increase by using these kind of companies.

HELP!!!!!!!!!!!!!!!!!
Getting very desperate

You can check your credit rating by signing up with experian for a free 30 day trial. You have to remember to cancel otherwise they charge you for a years membership - about £50.

Everytime you apply for a loan a credit check is carried out and recorded. Each credit check will count as a black mark, it is not stated that you have been refused merely that you have been applying for a lot of credit.

What do they take into account:

How much credit you presently have?
Have you defaulted in the past on payments?
Are you on the electoral roll?
The amount of applications you have made in the past 12 months?

It is possible to get unsecured loans for £15000. Companies like Egg for instance will give you good rates and flexible payback plans.

It maybe that you need to leave this for a while, check your credit rating and allow the dust to settle. We have just used an independent financial advisor to find us a mortgage where because of DP's strange bonus scheme we had failed. It cost us £125, he knew someone who could help us. That might be worth considering.

Sorry a bit disjointed but a glass of wine or two has relaxed my fluency. Hope that might give you some pointers.

Kaz how do i find tis credit scoring thingy?

Jambo have you tried cahoot ? they have very good rates but i would check your credit forst with experian

www.creditexpert.co.uk and then follow the links throuugh, just remember to cancel it after you have used it.

Lloyds TSB have good rates.

I used to work for a credit company - it was a long time ago but in those days they did a credit score where you get certain points for ceratin answers and then they deduct points for some answers. Things like having a mortgage, cheque card, credit card etc gave you more points, if you didnt have a cheque card they took off points, no credit card was minus points. At the time my grandma and grandad who were quite well off, owned their own home but no mortgage and no other credit were turned down much to my grandad's disgust! If you dont have any CCJs or arrears or anything it was usually due to credit scoring that people were declined.