Assistance?

Sparklemonkey

Hi there!

First post, am very impressed with this site and the fabulous information I have been taking in!


Here is my wee tale of terror :eek:
We have a £11,500 loan that was taken out in a moment of madness over 5 years ago....we fell into money hell and have only just started to recover...debts were £30,000 and now all we have left is this loan!We couldn't afford to keep up the full repayments and the loan amount is as high now as the first time we took it out! the company refused to change the 10% APR when we were struggling!!!

Can't get a new loan due to very poor credit ratings...defaults ahoy! any suggestions?

We are on a credit repair mission using Capital One....tiny purchases and pay off in full, it's a start eh? I learned that here, thanks!

Thanks for any suggestions

Willsnarf1983

presumably if u have been paying it u hve paid the interest of and now hitting the actual loan.....

may post a Statement of Affairs detailing exact income and expenditure and i mean exact...ie food, petrol, tv, luxeries (not that u shud have to many )

etc etc and people may be able to help

Cheers

Will

Sparklemonkey

Thanks!

I have just tried the snowball repayment calculator page and have figured out that if we pay £250 pcm on this loan we should be clear in 4 years! :j

Cool! :cool:

Will contact the lenders on Monday to check the current state of play.