My boyfriend defaulted with a loan?
my boyfriend defaulted with a loan and now he can't get a proper bank account, only one with a cash point card, is there anyway , he can get a current account with debit card and cheque book.
Answers:
It's not very likley he will get a "proper" account until his credit rating improves.
If you were the bank, would you trust him as a stranger?
All loans are signed agreements, with warnings written in about this very thing. If he defaulted thirough no fault of his own, eg redundency, the lender would have listened and helped, if he had asked BEFORE failing behind with payments. If he simply stopped paying they are well within their rights to blacklist him.
not at the moment,he needs to prove he can control the account he has, this will give him a better credit rating
I feel sorry for you but whats wrong with the cash point card you know here you are with them.
he may be able to get a solo card (UK) which means he can use it as a debit card but it wont let him go overdrawn or over his overdraft limit.
Once the bank is satisfied he can operate his account responsibly they may review his case and allow him a cheque book and proper debit card in a few months time (6 or more).
To get a current account with a cheque book and debit card, a credit check will eb done, if its negative reporting, he wont get one
A "secured" credit card will get you a card..
It basically means you give the bank $1000 they then give you a credit card with a $1000 limit. you go shopping, and pay the credit card bill when it comes monthly like normal credit cards. The $1000 sits in the bank and does not get touched, that's where the title "secured" comes in.
In a few months you have credit built up and you can ask for a higher line of credit. Knowing now what he did, he needs to learn from his mistakes and not screw anyone one else over on any loan !! You are exactly where you CHOOSE to be in life. so choose to be in a good spot !!
Switch cards are dangerous beings, very easy to lose control.
I suggest that your boyfriend contacts the loan company and makes an agreement with them to repay the default. This would help repair your b'f's credit rating. It's something that has happened to a lot of people and it can take a long time to get back a good credit rating.
If in the UK try WWW.SUREFIREFINANCE.CO.UK they can help with Bank accounts, credit cards Loans and Mortgages for bad credit.
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Answers:
It's not very likley he will get a "proper" account until his credit rating improves.
If you were the bank, would you trust him as a stranger?
All loans are signed agreements, with warnings written in about this very thing. If he defaulted thirough no fault of his own, eg redundency, the lender would have listened and helped, if he had asked BEFORE failing behind with payments. If he simply stopped paying they are well within their rights to blacklist him.
not at the moment,he needs to prove he can control the account he has, this will give him a better credit rating
I feel sorry for you but whats wrong with the cash point card you know here you are with them.
he may be able to get a solo card (UK) which means he can use it as a debit card but it wont let him go overdrawn or over his overdraft limit.
Once the bank is satisfied he can operate his account responsibly they may review his case and allow him a cheque book and proper debit card in a few months time (6 or more).
To get a current account with a cheque book and debit card, a credit check will eb done, if its negative reporting, he wont get one
A "secured" credit card will get you a card..
It basically means you give the bank $1000 they then give you a credit card with a $1000 limit. you go shopping, and pay the credit card bill when it comes monthly like normal credit cards. The $1000 sits in the bank and does not get touched, that's where the title "secured" comes in.
In a few months you have credit built up and you can ask for a higher line of credit. Knowing now what he did, he needs to learn from his mistakes and not screw anyone one else over on any loan !! You are exactly where you CHOOSE to be in life. so choose to be in a good spot !!
Switch cards are dangerous beings, very easy to lose control.
I suggest that your boyfriend contacts the loan company and makes an agreement with them to repay the default. This would help repair your b'f's credit rating. It's something that has happened to a lot of people and it can take a long time to get back a good credit rating.
If in the UK try WWW.SUREFIREFINANCE.CO.UK they can help with Bank accounts, credit cards Loans and Mortgages for bad credit.
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