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Major money headaches

  • 15-03-2011 11:57am
    #1
    LegacyUser
    Registered Users, Registered Users 2 Posts: 166,026 ✭✭✭✭


    In the bad weather in Jan I wrote off my work van, which I got a few years ago and was 9 years old anyway, and not totally suitable for my job. So I got my insurance money and had a chunk of savings from the Christmas period where I was very busy, and I went to my local garage where I'd seen a van for 7k, second hand. Had mechanic friend check it out etc, perfect for my job, great condition, so I applied for a loan for the 4k that would be left on it. Garage said no problem, said I could pick up the keys next week etc. Then I got rejected, as I never had a loan, then they applied again for me with two other companies, but no luck, then I applied to the credit union, rejected as now had bad credit from all the loan applications. Never had a loan/credit card/overdraft before, left school after the Leaving and worked. Fast foward 10 years-

    Now I'm stuck without a van, which means I am stuck doing office work which annoys my boss as I'm much better out selling, I have to pay 20 euro/day for taxies to work, and I now have bad credit!! Is there any way out of this? I need a van for work, but I can't get a cent in loans, how will I ever get a mortgage? :(


Comments

  • #2
    Peanut2011
    Registered Users, Registered Users 2 Posts: 1,001 ✭✭✭Peanut2011


    OP, as far as I know you can not end up with bad credit record as a result of loan refusals. Loans can be refused for so many different reasons. Especially these days.

    It would depend on your earnings, type of the job, house status.......

    The way it sounds to me is that you are self employed rather than by the company as it would make sense for them to provide you with the vehicle.

    I'd suggest you have a look at http://www.itsyourmoney.ie/

    This is very bad time for looking for loans unless you can prove that you don't need the money.


  • #3
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


  • #4
    Permabear
    Closed Accounts Posts: 39,022 ✭✭✭✭Permabear


    This post has been deleted.


  • #5
    ManOfMystery
    Registered Users, Registered Users 2 Posts: 2,394 ✭✭✭ManOfMystery


    The mortgage is a whole other issue entirely, and ahead of you.

    With regards to your immediate problem with the van, surely you could buy a cheap 1-2k van in the meantime to tide you over until you get a better arrangement in place to replace it with a newer one? There's always demand for vans so you shouldn't have any issue selling it on.


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