I am currently trying to get a loan to pay off everything that I owe and to buy a car, however I am finding it difficult as I apparently "don't meet the criteria" but they never actually tell me what the "criteria" actually is.

I have a personal loan for a computer that I have never missed a payment on, 4 catalogues, one I paid off completely and the other 3 I have never missed a payment on and my credit on all of them has been increased upto £800. I also have 2 contract phones with 2 different companies.

Also I paid £6.99 to look at my credit scoring with experian and was told that my score was 997, 1 point off being excellent.

my gross earnings are £700 per month and I currently live with parents

Could you tell me what could possible be the reason why they won't give me a loan? Because I know alot of people who have worse credit statuses that mine and still get loans?

my first loan at 18 was very difficult to get also, i tried my own branch to no avail, the best one i found was nationwide for accepting me with low wages (i was making around the same as yourself). Also the more you apply for loans the more you will get knocked back as the companies inform eachother when they knock you back for finance. As you have so much outgoings i think this may also be detrimental to your applications as the banks are being even more careful who they give money to now.

natzwdw1:

Agree with the last reply. You should cut some of your current outgoings and pay off your current loans if early payment is allowed without penalty. With less financial commitments on your credit record, you will then be in a much better position.

Don't be tempted to go to any of the sub-prime type lenders such as Welcome. They charge silly interest rates and if you default they will make your life hell. Read other posts on this site.

Huckster