career development loans

rcman

My wife has just started an Open University degree course - (she is aiming eventually to become a teacher). For the OU degree she is looking at 5years or more study. I read matins article on CDL's and he says the term is for 2 years. Can someone tell me how this could then apply to my wife's degree course? Any tips on applying in order for her not to get turned down?

Lillekat2

Some of you may already know that my beloved and I are in a LOT of debt and are trying our best to get out of it but at the moment all we seem to be able to do is stay stable (at least we are not increasing our debt?!)

Anyway, 3 years ago, my beloved started a course with Computeach and took out a career development loan to pay for it. Unfortunately the course wasn't what he had expected and he got so little support from computeach that he stopped doing it. He tried and tried to get in contact with computeach to see if they would change the course but could never get through to the people he had to deal with. This month Barclays have started taking their money for the loan. My partner has no income of his own as he has started a new business about a year ago.

My question is -- Given the lack of service he received from Computeach, is there anything that can be done about the loan?

Apologies if this doesn't make sense -- I am trying to type it v quickly at work!

Any advice gratefully received as always

Lillekat

nh

Who is the loan with? A bank? If so, I am not sure if anything can be done as I would assume it is not the bank's responsibilty to make sure the course you are borrowing the money for is up to scratch.

I assume that is your partner's responsibilty.

I am really sorry to hear about your situation and I hope you can get out of it with the help and support of people on this site, but I am not sure there is anything you can do about this particular loan.

Has he been in touch with Computeach since, by letter? Is there a solicitors near you that does free consultations? I am not sure if this is the type of issue they might deal with but it is worth a try. Maybe the CAB could help also?

Good luck.

jammy_jam_jam

I am also having problems with a Career Development Loan...

I was contacted by Britannia IT Training and, much to my shame, was completely blinded by all their talk of high-paid jobs and the like, so I sogned up for a CDL with Barclays.

I came to my senses after a while and decided to cancel it because even though the repayments didn't start for two years it was just too much money. I cancelled before I had booked any courses. I phoned Barclays and cancelled the loan then contacted Britannia to get the money back from them, but they said that I have missed the statutory cancellation window and will not refund the money. SO here I am, repayments due to start on the 22nd and £7180 *more* in debt!

I have pleaded with Britannia to give me the money back but they won't budge - does anyone think that it's worth me contacting a Solicitor to see if there are any ways to get the money back from them?

I mean I cancelled very early on and hadn't even booked any courses, so I couldn't have cost Britannia that much money!

Any help would be very greatly appreciated.

Debt_Free_Chick

I mean I cancelled very early on and hadn't even booked any courses, so I couldn't have cost Britannia that much money!

You need to read Britannia's terms & conditions VERY carefully to see what happens when you cancel. If they are clear that you lose your money then, I'm sorry, but these are the terms you accepted at the time. Though it seems unfair, you'd be wasting your money with a solicitor.

Read the T&Cs ...before you act.

zcaprd7

I feel really bad for you - those adverts are highly misleading.


It seems that almost without exception anything advertised on daytime TV is a bit of a sham?

Loans, secured loans, legal 'aid', IT traing etc.

JennyHennyPenny

I owe 9,876.60 to Barclays for career development. I pay 12.9% apr. Should I get a credit card with a low apr and pay it all off and cut the card up and pay it off monthly if I can or should I get a personal loan with the same apr? I'm confused about what to do or who will give me the best deal.

tom_ace

Hey, some loan advice needed.

I am training to be an airline pilot, and need a loan of £25,000 to complete my training. It has to be unsecured and ideally payments would be deferred by about 3 months.

I am currently in a 'stop gap' job and only earn £12000 a year. I also have a career development loan with about £7000 outstanding.

Can anyone point me in the direction of a lender that I would have a good chance of getting the money from?

All advice greatly appreciated.

jonesMUFCforever

Unless your own bank will help I cannot see you geting the funds unsecured.
Years ago I use to deal with the setting up of security for loans like these.
Basically You get the loan from a bank but they require a guarantor (mother, father?)who would repay the loan if you defaulted. Problem with guarantees is they are worthless unless secured (usually on property, although some were secured on 'blue' stocks and shares). Therefore technically the loan is unsecured as there is no come back for the company providing you with the pilot training.
By the way do you have to sign a contract of employment stating that you will not work for any other company as a pilot,for a certain number of years, after your training? If so this should be mentioned in discussions with your bank as it is declaring a material fact, although it may make it harder for you to get the loan.
Eric

tom_ace

Hey, I am not training for one particular airline. When I qualify, I will be able to work for any airline/flight school I wish.

If I got one of my parents to be the guarantor, but not secure it on a property, would the bank not legally be able to make my parent repay the loan if I could not?

CTT_2

I bank with LLoyds and applied for a loan of 25k last week and was accepted on the internet at 6.1 percent and repayments deferred for three months.