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A loan with no credit rating.

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  • 16-05-2011 11:27pm
    #1
    peteypop
    Registered Users Posts: 194 ✭✭


    I am due to get married in 8 weeks time,due to not assesing the true cost of the wedding ,i am 5000 euro short,i have no credit rating as i dont have a credit card,or any loans.will it be possible for me to get a loan off the bank.I appreciate any responses.


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    #2
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    peteypop wrote: »
    I am due to get married in 8 weeks time,due to not assesing the true cost of the wedding ,i am 5000 euro short,i have no credit rating as i dont have a credit card,or any loans.will it be possible for me to get a loan off the bank.I appreciate any responses.

    It's not all about your credit rating. Banks will also look at your savings history, account standing (unauthorised overdrafts, bounced cheques), income (salary) & expenditure (rent, car expenses) and also the collateral you can put up for the loan (probably not applicable in this case).

    Personally, I think it's a bad idea to sink €5000 into one day. Try making some last-minute cuts, even if it means phoning a supplier with a sob-story and asking for a discount - scrap the complementary drink at the reception, spend less on flowers, change the honeymoon to blackpool...

    You should also remember that you will probably receive a lot of money on the day, so this should reduce your need for a loan if some of the suppliers don't insist on all cash upfront.


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