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Help - Is there a 'cooling off period' with loans?
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Okay that's great. My concern was that you only get a short cooling off with PPI and I didn't want you to be stuck with it."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Astaroth wrote:My understanding was that there was a 10 day cooling off period for loans but I may be wrong (as Consumer Credit Act 1995)
http://www.moneyextra.com/dictionary/cooling-off-period-004050.html
Just an update ...grumbler wrote:Hmm... I am not an expert and don't know whom to believe now....
After my inquiry the above moneyextra.com article has been changed and the information about 10 day cooling off period for loans has been withdrawn.0 -
Should be okay if there are no repayment penalties etc....
However, I would consider making a compliant to the Bank as this would appear quite close to a misale - esp if the interest rates on the previous credit were less than 19%......thats about as steep a rate as LTSB offer0
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