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Rescheduling a Morgan Stanley loan
Hello,
The wife and I are trying to reschedule a loan with Morgan Stanley (which is in her name) to make our monthly payments more affordable. We recently tried to increase the value of the loan (which they unfortunately refused), and now they are telling us that they cannot reschedule the existing loan because we have made an application in the last six months. We weren't told at the time of making the original request that this would stop us from being able to reschedule the existing loan, not realising that rescheduling counts as a loan application in their eyes.
Do you know if this is a legal thing, or just a company policy? If it's just a company policy then does anyone know if its worth writing to them - it would be in their interests to reschedule our loan becasue otherwise we'll just have to take our business to another provider, and MS will miss out on the interest we would have paid.
Any help appreciated!
Cheers,
Mark
The wife and I are trying to reschedule a loan with Morgan Stanley (which is in her name) to make our monthly payments more affordable. We recently tried to increase the value of the loan (which they unfortunately refused), and now they are telling us that they cannot reschedule the existing loan because we have made an application in the last six months. We weren't told at the time of making the original request that this would stop us from being able to reschedule the existing loan, not realising that rescheduling counts as a loan application in their eyes.
Do you know if this is a legal thing, or just a company policy? If it's just a company policy then does anyone know if its worth writing to them - it would be in their interests to reschedule our loan becasue otherwise we'll just have to take our business to another provider, and MS will miss out on the interest we would have paid.
Any help appreciated!
Cheers,
Mark
0
Comments
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I'd just take it to another finance company and save the hassle
0
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