Stupid flippin banks!

[Littleslimmingbee]

Argh, i am so mad!!!


As some of you know, some silly woman drove into my car little over 2 weeks ago now. After much diliberation we decided to take out a 4grand loan, (under my bf's name as i am not 18 till jan)

So, last weekend we went to the bank and made all our accounts joint.. and made an appointment to come and see the same lady about the loan today.

So we go in, and we fill out all the stuff etc.


And the bloody bank, has declined us.

We have no credit cards, outstanding loan, missed payments etc.. NOTHING. They worked out that on Oh's wage we have more than double, almost triple 'spare money' as they see fit to cover the repayments after bills etc.
Oh's borrowed a few grand of of them before, since completly paid off and he never missed a payment.


The woman was even shocked herself, and even after re-applying entering all of our 'assests' being some savings and Oh's car..
it still declined us,


so then she turns round and says its because OH, applied to reducse his overdraft limit from 1500, to 500 as we didnt need an over draft that big. Apparntley the system just sees it as an application for an overdraft, and will then give us less points toward being eligable for a loan. . and to top it off they'v up'ed the amount of 'points' you need to qualify.


I'm fuming. She says all we can do is come back next month and re-apply. But she cant garentee they'l accept, .. so i am without a loan, no were closer to having a car....


i just dont understand, joes track record with them is gleaming.

 

[NIKI]

Oh sorry to hear bad news, its interesting how the banks work out all this stuff - I had a friend who used to work for a loan company and you were more likely to get accepted the more debt you had- go figure!! - Hope that you get your car soon

 

[tfmd]

I hate the banks too, we were told to get credit cards and debt because we had no credit rating (we used cash for everything). We did that and have debt whereas we never had any debt before....It doesn't make sence...If I had 2 people in front of me who wanted to borrow money..1 had loads of debt and the other none...I know who I would lend the money to!!
Banks seem to work backwards!!
Hope it gets sorted soon hun.
Good luck

 

[mommyB]

oh banks are really rubbish. I changed banks about a year ago cos i was really unhappy with the service i was getting. changeover went smoothly except i have a loan with old bank,which obviously i couldnt afford to just pay off but..... They dont accept payment by cheque (WTF?) ,they wont let me have a direct debit with them cos i dont have a current account with them,they dont accept them from other banks, i could ring up each month and pay with my debit card,but my debit card has too many digits and their system wont accept it !! So each month i do it by bank transfer,and every month they ring me the day fter the payment id due to ask why its late!! They are the ones who have made it virtually impossible to make the payments. i hav caller display-i dont answer when i know its them anymore.

The final irony is that i used to work for them!!

 

[lentil2]

It is true, the less credit you have, the less likely you are to be accepted for loans etc. Having a credit card doesn't mean you have to get in debt but it does build up your credit rating and thats what banks use to see whether you are worthy enough!
I can understand totally what you are saying but how can a bank rate you if they have nothing to go on? Just because you use cash to buy everything doesn't mean you are good at paying back a monthly amount does it? But once you can prove that you are a good customer then they will lend...infact they'll keep offering you money that you don't even want, ironically!!!

 

[Happy Holidays]

If you are buying your car from a dealer you could get a 0% 'on purchases' credit card for x amount of months & then see if you can get a loan & pay off the cc with the loan before you start to pay interest on it. Or you could transfer the balance to another 0%.

Bear in mind each time you apply for credit a 'footprint' is left & the more footprints you have the less likely you are to get credit as the companies wonder why you were declined by other companies (makes sense?).

You will get your car or what about car craft I think they do loans.

 

[CornishPisky]

Apologies if you have already posted this info, but what about the Polish person who hit you? Is she insured? If you dont know, you can apply to the MIB at Milton Keynes if you have her name, address & car reg, & they can trace her insurers UK handling agents, who should deal with a claim for you. If she isnt insured, are the Police prosecuting? Certainly should be!

 

[missyxx]

its true wot they say if you owe thousands they chuck money at you but wot they dont realise is you have to start somewhere so having no outstanding debts etc they should be seeing you as a excellent borrower hope things sort there selves out soon for you

 

[Brightonrosie]

Banks like people who don't pay their debts as they get more interest that way. If you pay on time it means they lend you money and get nothing extra back. Banks aren't there to help people they are there to make even more money. Sorry to hear about your car though. how annoying x

 

[Littleslimmingbee]

Oh gosh! sorry to hear about your bank problems also!


i know its so rediculous, im so annoyed!!!!! the more in debt you are, they practically throw it at you in cash, yet your a debt free, loyal and reliable customer and they wont even concider it!!!



as for the woman who hit me.. she spoke no word of english, and suprisingly, there isnt one scratch on my car that wasnt there before, and with the distraction of my youngest brother who was in the car at the time, i saw there was no visable damage and stupidly let her drive off..

only to realise 2 secounds later, i had no powersteering and the car was most deffinatly unsafe to drive £120 later to a bloke to trailer my car back home and to have a friend tell me its not worth fixing, if it were to be fixable at all.. i was like.. bugger ..

tbh, i doubt she even had insurance, looking back now, she was very quick to leave and when i saw a massive dent close to impact point, i asked her if that had been caused by this crash, and she told me (from what i could understand) that it was a result of another crash.. Lovley..



Unfortunatly because i am a few months short of 18, everything has to be in my OH's name, if we take out finance with a garage, his name will be on the log book, and so my insurance company will refuse to insure me untill its all paid off and in my name so it isnt plausable.

even more of a bugger is, if i waited untill jan my car would be 100% eligable for scrappage scheme, even in the state its in now.. but right now i havnt owned it long enough.

i start my new job as soon as i turn 18, and i need a car as soon as i start, so had i tunred 18, and then had a few weeks to play with.. find a loan, take finance and sort car.. that would have been fine and coud have used old car on scrappage scheme, but i dont have that sort of time .. and after today, if my OH cant get a loan now, (even though they loaned him 3 grand little over 2 years ago?!- work that one out!) .. i have a storng suspicion i would struggle to get finance or a loan in my name, in my circumstances!!!




ahhhhh, its a difficult life... and to top it off i just broke my nail. damn it! lol

 

[Starlight]

Oh Fern thats awful. What about shopping around and seeing if any dealers are doing 0% on car finance? Sometimes theyre not as strict as banks for the criteria. I take it you didnt get the other drivers reg no or anything

 

[nerys-]

I have ONE word for you all to look up that explains ALL of the banking problems we have

USURY