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Joint loan application help

Last post Wed, Jul 04 2007, 3:39 PM by gemmatt. 4 replies.
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  •  Wed, Jul 04 2007, 3:39 PM

    Re: Joint loan application help

    How much do you need to borrow? Whats it for? are you a homeowner? how bad is your credit rating?

    Sorry for all of the questions, it will be easier to answer if we all have a little insight in to your background.

    • Post Points: 5
  •  Wed, Jul 04 2007, 2:18 PM

    Re: Joint loan application help

    interesting reading, this is a god site. i have been turned down so many times and am worried that many more applications will kill my credit score. i had a offer from logbookloans but their apr was 277 % they was going to give me 3500 and charge me 6950 for it. im desperate but would never do that. can any one help or now of anyone that is willing to listen. i have seen a few companies on here like yes finance, but the reviews on here seem so bad. has any one else used this cash medic company and what are they like. Id realy appreciate any help.
    • Post Points: 20
  •  Fri, Jun 22 2007, 3:20 PM

    Re: Joint loan application help

    I was advised this too, but on this site there was something about not doing it as it will just rouien my girfriend's credit rating, which she doesn't really have anyway.

     Let me know how it goes... Thanks for the reply.

    • Post Points: 5
  •  Fri, Jun 22 2007, 2:41 PM

    Re: Joint loan application help

    Hi

    I have recently been looking to apply for a joint loan with my partner.  I have been advised that making a joint application will increase my chances of being offered a loan. 

     However, I was advised that once a credit check has been performed based on the joint loan application this sets up an association with my partner.  I have been told that this means that when someone performs a credit check on either of us in the future they will see my association with my partner and this could affect any future credit applications by either of us if one of us has not got a good credit rating.

     

    • Post Points: 20
  •  Fri, Jun 22 2007, 1:28 PM

    Joint loan application help

    Hi folks,

     I've got myself into a bit of a pickle. The last few months i've found it hard servicing my debts, mainly because one month i missed a payment and then the chearge meant i went over my limit the month after. I currently have a £6,000 loan and £5,000 on credit cards. I need to get rid of the credit cards becuase they are costing me £400 a month, whereas the loan is only £150. I want to take out another loan to cover the cards only, but my credit rating is in the gutter. (i have applied for a loan in the last 6 months and been rejected).

     My Girlfriend has offered to make a joint application with me, but she has little to no credit history becuase she has never had a loan or any credit cards.

    What is the best course of action? I don't want to mess her credit rating up and i don't want to be rejected again. Is there any point in me doing this? Also, if she were to take the loan out on her own, could i set up the repayments through my current account?

     Thank you in advance for any help you can give.  

    • Post Points: 35