Mobile Money Limited/ Advice needed

littlemissr

Hi all,

i stupidly took out a loan with mobile money limited 10 months ago and havent missed a payment so far, the original loan was for £1500, the document i signed stated that i would make a first payment of x with 4 more installments of the same amount with and end payment of x (the end payment was around £3,500), i came to the end of my 5 months and they asked for the end total, my cirumstances had changed dramatically and could not pay, so they offered to extend my loan by me taking out even more money with them, with that been my only choice i did so. Any way another few months down the line i had to take out a further loan with them, so all in all i have signed 3 credit agreements with them because i cannot get out of this loophole that they seam to have me in, the repayments have completly gotten out of control and i am getting to the point where i cannot pay any more. I have made quite a good bond with the people who i am dealing with at this particular branch as i am not having baylifs coming round my house asking for my car. There dosent seam to be away out of this for me unless i raise the total amount that they are asking for and in this climate thats nigh on impossible. I was determined to pay this loan off and have every intention to sort it out, but i just cant get out of it and there interset rates are out of this world, im sure they are illegal.

I have contact the CAB and have an appointment with them on the 28th May to talk about my options,

i would really appreciate it if some one could give me some adivce on what i could be doing in the mean time or point me in the right direction.


thanks

(p.s, im new here so if im in the wrong place, please diect me to where i need to be)

littlemissr

any one willing to help??