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Loan refusal (rant rant rant)

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    #32
    Culchie
    Registered Users Posts: 5,047 ✭✭✭Culchie


    ronbyrne2005 wrote:
    get a parent to go garuntor,i was in college and got a 6grand loan without having any income! my mother signed a letter garunteeing she would cover the loan if i didnt pay so there was no risk and they couldnt refuse me,actually they gave me another 3k a year later as i was paying loan off on time every month.

    You got to stand on your own two feet sometime.
    I wouldn't ever of dreamt of doing this, fair enough if it was a student loan, but after that .. no way.


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    #33
    TempestSabre
    Registered Users Posts: 4,142 ✭✭✭TempestSabre


    Culchie wrote:
    You got to stand on your own two feet sometime.
    I wouldn't ever of dreamt of doing this, fair enough if it was a student loan, but after that .. no way.


    If you have the choice thats great. For many they simply don't.


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    #34
    Culchie
    Registered Users Posts: 5,047 ✭✭✭Culchie


    TempestSabre wrote:
    If you have the choice thats great. For many they simply don't.

    There are some genuine cases and I'm not trying to be smart, but more often than not it's taken as the easy way out as well.

    Alot of people

    (a) Don't bother saving towards anything, and just want the bank to give them money

    (b) If the bank says no, get Mammy and Daddy to guarantee it (often 'kid' in their 20's) and

    (c) Which is never discussed on forums like this ...... Is the loan needed? .... e.g For a holiday/car loan they can't afford... if they could afford it, why did the bank say no?
    It's estimated that it takes €10000 a year to keep the average car on the road for a year, so it is never an investment.

    This is in no way pointed at the OP, as he appears to be a genuine victim of the 'computer' ... but I'm just making a general point.


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    #35
    TempestSabre
    Registered Users Posts: 4,142 ✭✭✭TempestSabre


    In my experience theres little logic to what the banks do. They'll refuse you a loan but allow you an overdraft of the same amount. Or refuse a smaller loan but approve a bigger one. It seems to depend on who your talking to in the bank and if the're having a good day or not. I remember in the past being refused a credit card in the Bank of ireland when I'd banked there for years, (all accounts being in good order) and then got one from the AIB where I'd no history at all.


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    #36
    gerrycollins
    Registered Users Posts: 1,799 ✭✭✭gerrycollins


    here is a good one
    my wife works in the bank (dont kill me ha ha)
    my friend was applying for a mortage with a different institution and they refused
    my wife did a credit check for him and the details that she entered for him drew up another person with the exact details job name DOB but address was different and that person had a bad record but my mate had no record at all ,so the mortage bank assumed that it was him

    some of the details on the credit system,which has nothing to do with the banks, are sometimes delayed but they can only use what they are given its up to u to sort it out sadly, best ask to speak personally with the loan manager in the branch and explain it still need a human to read the info that the computer returns its not the computer that decides ur application in the whole


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