Personal loan

[chocolatelover]

I took out a personal loan last month. I need the money for a number of things

A) a new place for myself and when fiance when he arrives!
B) Also I've been able to put a lump sum away into my savings

My monthly salary makes it very easy for me to make monthly repayments and its handy to havea lump sum. What Im worried about now is on my bank statement is just says transfer next to the loan MONEY. Im worried about sending my loan papers along with these bank statements as they are highly confidental and I cant get copies.

Will they querie the amount in my account?

[antontony]

Hello,

Entry Clearance Officers are always suspicious about lump sums of money out of the blue.

Do you mean you had to specially take those money to facilitate your fiancee's arrival into the UK ?

[chocolatelover]

Yes he wont be working when he gets here until after we are married. I didnt have enough savings to put money down for a flat and I didnt want to go into my overdraft. Although I earn £24,000 a year. It was easier to take out a loan and then make repayments.

[OL7MAX]

Borrowing to "invest" is something even canny investors sometimes get burnt on. This goes further. You are borrowing to "save"?! I've never heard of people borrowing (presumably on commercial interest rates) to put a lumpsum into their savings.

Im worried about sending my loan papers along with these bank statements as they are highly confidental and I cant get copies.

This comes across as strange. Your loan paperwork is more confidential than your bank statements? Why? It's also unusual that your loan company won't give you copies of paperwork. Why? If they are a proper, above-board setup you shouldn't have that problem at all. And I can't envisage a situation where you'd not want the immigration dept to see any papers (e.g., proof of earnings) that you've supplied to the loan company. Could you explain?

If, on the other hand, you have borrowed solely to show a higher bank balance to support your application for your fiance - which is possibly not the case at all - then you're best to drop that idea, repay the loan and show bank statements to include that reversal.

[chocolatelover]

Sorry if it seems Im doing something dodgy to you but its all above board. I can get millions of copies of my bank statements. I took the loan out with the same bank I bank with. The loan forms I have are signed by the bank manager its a contract. I cant see how if those are lost I can get replacements.

I will explain again. Maybe in a bit more detail. I took out the loan to help me sort of some accomadation I couldnt do it soley on my salary as I would of gone into my overdraft. The amount I have borrowed is just a few thoousand pounds. I already have an ISA account which I have been using for 3 years and I had money in there already. The money I didnt really need for gettting accomadation I put into my ISA account.
I find this much easier as I can afford the monthly payments and I have been able to use the money.



I am providing an ISA bank statement for the tax year April 2005 to April 2006 so its well before I got the loan. My bank statements show that as soon as the loan money went in it went back out almost immediantly to various things. So its not sitting in my account. You can see from my bank statements where I have made loan repayements.



And I can't envisage a situation where you'd not want the immigration dept to see any papers (e.g., proof of earnings) that you've supplied to the loan company. Could you explain?

Sorry where did I say I wasn't going to supply proof of earnings. My main worry is these documents are being sent by DHL. I have been told to prevent Identity fraud, I have been told to black out my account numbers and sort codes which is no problem on my bank statements. But I can hardly scribble black marker over my Loan contract if I cant get the exact same copy.

I hope that makes more sense.

Thanks

[OL7MAX]

I have been told to prevent Identity fraud

Ah, if your main problem is worry that the courier will lose your documents you should have the option of delivering them yourself.

In any event I fail to see the concern about losing your copy of the contract with the bank. I lose those all the time and the bank doesn't withdraw any facilities.

e.g. = "for example"

[chocolatelover]

No can't really go all the way to Lagos to deliver them myself which would of been the best.

I know what e.g means I just went on the defensive sorry