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Advice on loan

  • 04-02-2018 9:41pm
    #1
    Johnnyfan666
    Registered Users Posts: 4 ✭


    Ive recently been turned down for a loan from my credit union for €4000 for urgent home repairs (new boiler ,floors etc) and bank also declined. Im very very stuck in situation and my only option seems to be a cash lender . Does anyone have any advice for me to get through to one as it needs urgently to be fixed with a kid living here ?
    Seems to be my only option at the minute and interest rates dont bother as ive steady income for years


Comments

  • #2
    perry stanley
    Registered Users, Registered Users 2 Posts: 122 ✭✭perry stanley


    They (CU +bank) for some reason don't see your ability to repay:confused:
    Since the crash they have some hoops for us all to jump through. Have you other committments that may appear to absorb any 'spare' income.


  • #3
    Johnnyfan666
    Registered Users Posts: 4 ✭Johnnyfan666


    perry stanley wrote: »
    They (CU +bank) for some reason don't see your ability to repay:confused:
    Since the crash they have some hoops for us all to jump through. Have you other committments that may appear to absorb any 'spare' income.

    I seen a sign in my credit union 99% approvals made me laugh I've heard so many turned away lately


  • #4
    perry stanley
    Registered Users, Registered Users 2 Posts: 122 ✭✭perry stanley


    They have soooo many boxes to tick in the applications. The slightest 'tilt' and it out, so I am led to believe. Have you been saving: (1) enough to raise the loan, (2) long enough at that branch?


  • #5
    rgace
    Closed Accounts Posts: 479 ✭✭rgace


    What reason did they give for refusal and is there any thing you can do to fix it or can you provide a guarantor?

    4K from Provident is going to cost you an awful lot of money.


  • #6
    MaudL
    Registered Users, Registered Users 2 Posts: 231 ✭✭MaudL


    Johnnyfan666 wrote: »
    Ive recently been turned down for a loan from my credit union for €4000 for urgent home repairs (new boiler ,floors etc) and bank also declined. Im very very stuck in situation and my only option seems to be a cash lender . Does anyone have any advice for me to get through to one as it needs urgently to be fixed with a kid living here ?
    Seems to be my only option at the minute and interest rates dont bother as ive steady income for years

    Won't help for your floors but some of the boiler installers do credit, you'll have a good chance to get financing from them.
    I just did that research as I needed a new boiler too. I think we can't name names here so pm me and I'll tell you which ones did


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  • #7
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    apply to www.icb.ie for a credit report at least you will see if your credit rating is impaired. If it's not you should ask both bank and CU reason why you were declined.


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