credit agreement?

zoelouise88

I currently have a catalouge debt im paying of at a very high intrest rate, its so high atm that all my payment covers is teh actual interest so teh debt isnt reducing.

Anyway i remember when i first signed up with them they sent me a credit agreement which i was ment to sign and return but i never did, what was this for? i may be wrong but im sure i read somewhere (possibly here) that it can effect my account and repayments. If i didnt sign the agrreement can they still make me pay the high interest.

sorry if it all sounds confusing but not sure how to put what im trying to say into words.

Browntoa

theres a thread here about CCA's and enforceability

http://forums.moneysavingexpert.com/showthread.html?t=1868507&highlight

bumpoowee

zoelouise88 wrote: »

sorry if it all sounds confusing but not sure how to put what im trying to say into words.

Thats ok I can help..

"I borrowed a load of money which I had a great time spending and now I'm looking for a loophole to avoid paying it back as per the terms I agreed to before I spent it."

Blacksheep1979

Grow up and honour what you agreed to.

zoelouise88

Blacksheep1979 wrote: »

Grow up and honour what you agreed to.

oh thankyou for your advise extremely helpful

zoelouise88

bumpoowee wrote: »

Thats ok I can help..

"I borrowed a load of money which I had a great time spending and now I'm looking for a loophole to avoid paying it back as per the terms I agreed to before I spent it."

do you want me to call yur opticians for you???

zoelouise88

before anyone else decides to jump down my throat please read carefully, you will see i am repaying the money but at 49% interest the payments are not reducing the debt. which is why i asked if there was anyway to not pay such a high rate. no where did i say i didnt wantto pay the money back.

Blacksheep1979

This

zoelouise88 wrote: »

i asked if there was anyway to not pay such a high rate.

kind of contradicts

zoelouise88 wrote: »

no where did i say i didnt wantto pay the money back.

If it's not paying off the initial loan then here's an amazing idea - pay more each month...

zoelouise88

Blacksheep1979 wrote: »

If it's not paying off the initial loan then here's an amazing idea - pay more each month...

wow how on earth did i not think of that idea myself?

obviously if i could afford to pay more then i would but im to pay just the interest atm myself and my son are going without.

bumpoowee

SueSueSue wrote: »

Going without Sky Tv?

or the internet?

bumpoowee

Seriously though.. are you saying it wasn't in the terms and conditions to pay back the loan at this high interest rate? 49% is a shocking interest rate but that is why I would never agree to it in the first place.