Declined a Loan?

Declined a Loan?


If you have been declined a loan then there are two things you will usually ask yourself, for example if you apply for a short term loans like Wonga and you are refused it would be why has Wonga refused me a loan or why won't Wonga give me a loan but this would be try of any short term loan that you would have applied before but then been declined a loan.



Example "Wonga refused me a loan"


Being declined Wonga or any loan is never a great feeling, what you naturally want to do is find out why you have been declined, just using the Wonga example again they do provide a page with information on which allows you to look further into why you may have been declined a loan, the link is below:


Declined a loan? Check your credit score


The other option is to get a credit score check done with companies such as Experian, which may be able to give you an idea of how strong your credit  score actually is. It will show in detail all your credit and lending and usually give you a credit score to indicate how strong your credit profile is, so when for example you are declined Wonga or Wonga refused me a loan you can investigate your own credit score and see if there is anything you can to do improve your score before reapplying for another loan.


Declined Wonga? Wonga Alternative


The other option if you don't have access to your credit score is to list all your out goings and borrowings, then make sure you have made your repayments on time and it may even be worth contacting the creditors to check they are up to date with payments, the other option is to look at Wonga alternatives as lenders sometimes have different lending criteria, using a broker is another option as this allows you to get access to multiple lenders in one place and saves time trying lots of different lenders, so if it happens to be the case that Wonga decline me then you do have options to check your credit score and find out with a little bit of home work why "Wonga declined me".


Loan alternative


Short term loans are designed to be exactly that a short term loan, when taking a loan or short term loan then to find you have been declined a loan or your asking yourself why won't they give me a loan?  As well as checking your credit score and outgoings it's important to budget to make sure you can afford to repay your loan or ask if you even need to loan, can you change what you spend your money on or budget differently so you don't get a for example declined Wonga and you can work out another solution. The links below may also be helpful if you have even had  Wonga loan for example but when you apply again why wont Wonga accept me again?


If you feel you may benefit from some independent advice, below are some of the UK’s free debt advice services, such as:


Step Change Debt Charity on 0800 138 1111

National Debtline on 0808 808 4000

Citizens Advice – visit the website for your local branch


Late repayment can cause you serious money problems. For help, go to

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APR Explained

Representative 277.6% APR

  • Representative Example:
  • Amount of credit: £850 for 11 months at £146.30 per month. Total repayment of £1,609.25. Interest: £759.25. Interest rate: 150% pa (fixed). 277.6% APR Representative. APR rates range from 45.3% APR to 1575% Max APR
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