No news is what news ?

I lodged my consolidation loan application on the 25th of July. Since then I’ve had a few phone calls seeking to verify some of the information I’d provided. I sent the last piece of info off last Thursday and haven’t heard anything since.

At this stage I’d say my odds of getting the loan are around 50/50. I definately have the capacity to make the repayments, If you combine the monthly repayments on the two cards I’m intending to pay off and add in the payrise I got last month then I’m pretty much in a cashflow neutral situation when I start making loan repayments.

However I don’t think financial institutions see things the same way, they punch a bunch of numbers into a computer, come up with a risk rating and that makes their decision for them.