Loan Refusals

It’s disappointing for you and us when we have to turn down a loan. There are many reasons for this, but here are the chief ones.

  • You are requesting a loan which, in our opinion, you would struggle to repay given your level of income.
  • Your Loan Application form has not been completed correctly and we can’t make a proper assessment.
  • Your financial commitments are too high at the moment.
  • Your Credit History is not satisfactory enough. A low credit score could be due to several things such as:-
    • You have no credit history (you have never taken out a loan with a bank, building society, finance house or other financial organisation)
    • You have other loans which have not been repaid or not repaid on time
    • You have County Count Judgements (CCJs) against you.
  • You’re currently bankrupt, in an Individual Voluntary Agreement (IVA), Debt Management Plan (DMP), Debt Relief Order (DRO), or Administrative Order.
  • Your payment history on previous loans has been poor.
  • You have not met the basic criteria for our type of loans.