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Loan Refused for 1/3 of my monthly wages with BOI since 2005/6

  • 19-01-2015 2:59pm
    #1
    ibstar
    Registered Users, Registered Users 2 Posts: 373 ✭✭


    Hi.

    Recently applied for a small personal loan of €750 which is about 1/3 of my monthly wages after tax, to buy a TV for my home. I applied to have the repayments spread over a 1 year period.
    This is my first ever loan or credit purchase/loan of any kind in my life, and I was surprised to see this small amount refused. Unless monthly car insurance installments are considered credit/loan which I was never late for repayment. 
    As it goes in the financial world, I wasn't given any reason for the refusal.

    I would like to know how do I receive a detailed reasoning for my refusal, as in near future I would be looking to apply for mortgage etc.  

    I am not sure if matters, but my account is still showing as 3rd level account?
    Not sure whether it means that I am still considered a student?
    There was 1 or 2 "late" rent payments which were caused by banks moving to SEPA, which could have been logged towards bad credit rating. 

    Thank you. 


Comments

  • #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Hi ibstar,

    Thanks for your post.

    All loan/credit applications are dealt with on a case by case basis and a range of factors are taken into account. If you wish to discuss the decision on your recent application, we would suggest contacting a Customer Advisor in your account holding branch. The advisor will be happy to go through this with you and provide advise. Contact details for your branch can be found here.

    Thanks
    Tara


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