Tag Archives: credit rating

Debits & Credits

The cost of relocating to London has caused me manys a sleepless night. Before I even set foot in the office of my new employer, I owe a couple of grand. This unnerves me. To ease the pain of cash flow issues, I decided to apply for a loan from Ulster Bank whom I’ve banked with – but never bank on – for the last six years. I made an early appointment in the Athlone branch one Monday morning.

Helen, the lovely customer advisor, and I sat in her cubby-hole office, equipped with printer and photocopier. I clutched a large coffee and marvelled at the blandness of her small space. Numerous sheets of paper churned through the spool of the printer. Helen highlighted and narrated the legal jargon on each form. I confirmed my personal details and she responded, clicking and tapping on her keyboard, throwing a cursory glance my way.

She paused. “Hmmm, that’s strange,” she said.

I sat up in my chair. “What is?” I asked. Paranoia was evident.

“The system has instantly declined your application”. Line by line, she scrutinised the information on screen. She clicked again. And again. “Have you any financial issues you’d like to tell me?”

Blood rushed up my neck. My cheeks glowed. “I may have missed the odd credit card payment here and there.”

Helen thought for a moment. “That’s not serious. It shouldn’t prompt an instant decline. There must be something wrong with the system.” She shrugged it off. She pulled a glossy blue and white application form from her drawer and reached for a biro. She completed the form on my behalf. “Have you any shares? Have you a car? Do you own any property?”

I answered each question negatively.

Completed form in hand, Helen turned to her computer. “Ah,” she said. “It is as I guessed. The reason you are getting an instant decline is because the system doesn’t like you.”

“What do you mean?”

“It doesn’t like your details. In the interest of being open and upfront, I will talk you through it. Stephen, you are twenty eight years old. You earn quite a good salary. You’ve exceeded your overdraft limit twice in the last six months. You have no savings! Where is your preparation for the long-term? Have you no interest in owning a property?”

I sighed. “Sorry if this offends you, but you now sound like my mother.”

“I often hear this. Your mother is right. What do you have to show for all this expenditure?”

“Helen, I live quite a good life.”

“I bet you do, Stephen.” She laughed. “It’s reflected in your bank balance. You could turn your position around in three months. Set some money aside each month and start saving!”

I endured the remainder of Helen’s lecture before leaving her cubby-hole disheartened. I have never been good with money. I have an amazing ability to rid myself of debt, but like the typical Irish person of the Good Times of Old, I fail to appreciate a bank account with a credit balance; why debit when you can credit? I need to redress my views on finances. Helen’s words echoed through my mind for days. It was, while sorting through clothes for the move, did I come face to face with my problem. Hanging in my wardrobe were jackets and coats, ranging in price from half to a full month’s rent. I felt anger.

Screw you coats and jackets. It’s your fault! Helen is right! I have nothing to show for all that money I spent. I have nothing, but a wardrobe of coats. Exactly how many coats do I need? Who am I, Johnny Fucking Forty Coats?

I left my bedroom sickened by the sight of those tributes to thoughtless frivolity. I visited the kitchen for a glass of water to quench the hot, fiery anger in my belly. Within seconds, I was back in my bedroom.

Sorry, coats and jackets. I caressed their sleeves fondly. I really didn’t mean it. Helen is wrong. She is very wrong. No matter what happens we will always have one another.

Advertisements