Credit Union Loan

I know, another Credit Union loan thread! But I need to get info for my personal circumstances so any info woad be great

I have currently €1200 saved, I have been saving every week for the past few months and have got a couple of small loans in that time, both paid back fairly quick and on time every week.

I am unemployed but able to save regularly and have proof of that. So basically by next month I should have €2000 saved and I would hope to get a loan of €6000 or as near to that as possible. What are my chances of getting this or am I looking for too much?

unclebill98

Ok,

Firstly how are you managing to save money and not work? If its saving some of your social income then that's not income as far as a loan goes.

Lastly, no respectable cu should loan anyone any money without solid income. Cu loans policy are being heavily looked at by their regulator, so I'd say your outside of the leading criteria.

Yes I save some of my social income weekly. Why isn't this considered solid income?

I have been saving every week and paid back my loans with no problems. This loan would go towards helping me get back to working so I thought this should count for something no?

unclebill98

Social welfare is for you to live on and not to fund a loan, in the eyes of banking.

Well turns out you were right Uncle, I was refused my loan. I enquired about appealing the decision today with no joy so that's that.

Pretty bummed about it though..

I cannot even apply for a loan for anything more than what's in my account.. Pretty pointless after all these months of saving and the fact that I paid back a couple of small loans in the mean time which I was advised to do.

Anyone

Deleted User wrote: »

Well turns out you were right Uncle, I was refused my loan. I enquired about appealing the decision today with no joy so that's that.

Pretty bummed about it though..

I cannot even apply for a loan for anything more than what's in my account.. Pretty pointless after all these months of saving and the fact that I paid back a couple of small loans in the mean time which I was advised to do.

Well its not pointless, you have €2,000 saved, which you may not have saved otherwise.

Anyone

Anyone wrote: »

Well its not pointless, you have €2,000 saved, which you may not have saved otherwise.

I meant its pretty pointless to me now to get a loan of €2000