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Interest on loan - advice please
I took out a loan from Sainsburys bank a few years ago, and defaulted on it. The loan was for £8k.
They sold it on to a company called Marlin Financial who immediately sent me a letter saying they were instructing their solicitors to try and obtain a charge over my house.
This was done, and the amount was passed by the court for £11,171 plus court charges of £210.
I then received letter from marlin a few days after, to say they were now adding interest on the load at a rate of 8% (£77 monthly at the moment) which will accrue and just make the debt bigger, the longer it takes me to pay it off.
Has anyone been in this situation before, and is there any way I can freeze this, or do you have any other advice for me please?
Thank you in advance!
Katie
They sold it on to a company called Marlin Financial who immediately sent me a letter saying they were instructing their solicitors to try and obtain a charge over my house.
This was done, and the amount was passed by the court for £11,171 plus court charges of £210.
I then received letter from marlin a few days after, to say they were now adding interest on the load at a rate of 8% (£77 monthly at the moment) which will accrue and just make the debt bigger, the longer it takes me to pay it off.
Has anyone been in this situation before, and is there any way I can freeze this, or do you have any other advice for me please?
Thank you in advance!
Katie
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