Managed Loan

BigDebtBoy

Hi
does anyone know much about managed loans my bank is trying to get me to have a managed loan to cover my personal loan/credit card and business loan/ business overdraft
would i be better sorting out a dmp/iva/bankrupcy as i cant see them greedy barstewrds doing it out of the kindnes of there hearts so will probally be looking to charge me 1000% interest

anyone know much about them ?

Montymoo_2

HSBC tried to do this to me after my claim for my PPI was rejected. I refused as they wouldnt explain the load to me

craigp_2

I've got one of these with HSBC and they completely lied to me about it.They said I could go on it for 6-12 months and sort myself/finances out and then come back to them when I have and they would let me go back to the way I was with my old loan with a lower APR and a credit card if I wanted.So when I asked about it it turns out I am stuck with it till it finishes and I am allowed no other lending with them,not even a small overdraft.

BigDebtBoy

DONT GET ME STARTED ON HSBC
They are liars through and through
2 weeks ago i rang them up about extending my loan/overdraft and they said they would work it for me so i had a spare 3 grand for my business as i needed it for stock and wages and to pay off my pc before the interst free ends as i was having some cashflow problems
i rang them up at least 7 times last week to sort it out each time i was told someone would ring me back to sort it
NOT ONCE DID THEY RING ME BACK :mad: :mad: :mad: :mad: :mad: :mad:

Then today they phone me and say the 14 days as expired as i hadnt contacted them !!!!!! LYING SCUM and they could no longer offer me anything at all
now i had ordered the stock and everything and i needed to pay myself to cover THERE Personal loan/cc bills

so hsbc have screwed me over and probally put me out of business by going back on there word and i will be sure to kick up as much fuss as possible and teel everyone i ever meet never deal with them cause they are !!!!

sorry for ranting i am very !!!!!! off at the moment

Montymoo_2

craigp wrote:

I've got one of these with HSBC and they completely lied to me about it.They said I could go on it for 6-12 months and sort myself/finances out and then come back to them when I have and they would let me go back to the way I was with my old loan with a lower APR and a credit card if I wanted.So when I asked about it it turns out I am stuck with it till it finishes and I am allowed no other lending with them,not even a small overdraft.

Oh dear, looks like im in trouble as i have an overdraft with them as well (mine a graduate account). This really annoys me! I have paid them a lot of money to insure my loan and now they wont let me claim on it