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Loan Refusal, Appeal

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  • 05-01-2016 5:48pm
    #1
    oB1
    Registered Users Posts: 706 ✭✭✭


    Hi

    A few months ago i was refused an overdraft, for whatever reason. Last week i applied for a loan, a small amount (1700) to cover some post-Christmas financials - over a 6 month period of time.

    Rang today (because i had heard nothing back) - i was told that i can only apply for a loan every 6 months. 

    I thought an overdraft and a loan where separate ?

    anyway, my main question is, how do i appeal this, or push this up the approvals ladder?

    I got the usual "you where refused based on a number of decisions, please contact the ICB for your credit rating etc etc"

    I was confused at this, but just took it on the chin was i wasn't in a desperate situation at the time.

    I also requested my credit rating from the ICB, which came a week later. Checked that and all was clear and fine. I have no outstanding loans or bad credit. The only thing i have is a credit card which is always cleared on time.

    When i rang back today to appeal the decision, i was basically told i cannot do that and to try again in another 6 months.

    I totally understand that there is proccesses / procedures in place, but i find this a little frustrating to be honest. I earn a good salary which is mandated to my account on time every month, i have no bad credit and no false statements on my ICB that would be causing this to be an issue.


    could you direct me to someone who could help? i'd like to appeal the loan refusal as well as find out why exactly i was refused.

    thank you


Comments

  • Options
    #2
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Good Morning oB1,

    Thank you for getting in contact with us here on Boards.ie.

    We're sorry to hear of the recent decision on your lending application. As each application is assessed on a case by case basis we would suggest contacting a lending advisor in your local Bank of Ireland branch who will be more than happy to sit down with you to discuss the reason and the next course of action.

    You can make an appointment using this link on our website. https://form.bankofireland.com/personal-banking/help-centre/book-an-appointment/

    We hope this helps and if you need anything else, please don't hesitate to post again.

    Thanks,
    Elaine


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