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Change to terms of loan
OK this is my first post and its a question.
Can a loan company change the terms of your load after 8 years??
My gf took out a flexible loan with her x 8 years ago and she is still paying for it now, the loan company was cahoot at the time she was a house wife with no job and they gave her a 7k loan. Now they have been taken over so the flexi loans must now go to fixed. Can they do this?? and should she have been given a loan in the first place as she has no income of her own when she took it out??
Any advise would help as she is still paying £130 a month and its not taking anything off the loan. I think a loan shark would of been paid off by now
thanks for your time and martin you the man :T:money::T
Can a loan company change the terms of your load after 8 years??
My gf took out a flexible loan with her x 8 years ago and she is still paying for it now, the loan company was cahoot at the time she was a house wife with no job and they gave her a 7k loan. Now they have been taken over so the flexi loans must now go to fixed. Can they do this?? and should she have been given a loan in the first place as she has no income of her own when she took it out??
Any advise would help as she is still paying £130 a month and its not taking anything off the loan. I think a loan shark would of been paid off by now
thanks for your time and martin you the man :T:money::T
0
Comments
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She will be liable for any loan she took out.
If she had no income why did she take out the loan? What happened to the money??
You need to find out what the flexi rate is and what the proposed fixed rate will be.
If she is not happy she could try to re-arrange the loan with another provider.
If you are looking for a get out clause to stop repaying - it ain't gone to happen.0
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