FabSwingers.com forum: Loan Companies are scum!

By (user no longer on site) OP
over a year ago

I was just reading a letter i got there from Black horse who i have my loan with, and it says that my balance for the last year has dropped by ONLY £56!!

I pay £350 pm to the bastards, but because i had a default when i was going throught some hard times when my mum died and missed a payment or 2, and decided to go for the option they gave me of putting those payments to the end on my agreement, they are charging me £218-£250 each month in INTEREST ALONE!!!!! HOW IS THIS ALLOWED??? they never told me that it would affect me like this!

Surely there's something i can do?? If not, i'm gonna have to go Bankrupt!

By *1cebren4uWoman
over a year ago

clydebank

Go to the CAB office and ask them to help you

brennie xxxxxx

By (user no longer on site) OP
over a year ago

I don't think they'd be able to, do they deal with financial stuff?

By *imfromGlasgowMan
over a year ago

er...guess

"I don't think they'd be able to, do they deal with financial stuff?"

Yes, but see my comment above about the pressure they're under at present.

By (user no longer on site)
over a year ago

Hey jim..those payments seem really unfair. Have a look at the Martin Lewis website they have a section about payments and debts...lots of good advice and some about this particular company. Take care

By *oonboyMan
over a year ago

livingston

best thing to do is to read the terms and conditions of your agreement , they will be listed specifically under 'default'

if the terms of this default do not match what they are charging you , they have no right to enforce this under the cunsumer credit act....good luck