Repaying a loan goes unrewarded!

rickandmer

Thanks for the replies. It's not the loan being declined that irks, it's the fact that good behaviour is completely ignored, whilst poor repayment incurs years of suffering.
As to the reward, she now has to repay almost £80 more per month through Audi Finance as a result of being turned down by her own bank, whose customer service incidentally, is shocking. I'm sorry if £20K doest seem responsible, drbesty, what would you feel is more appropriate, £40. The amount you borrow is irrelevant and determined by your financial standing, it's how you repay that counts, or it used to be anyway!

RuthnJasper

I think the reward is being loaned the money in the first place!

rickandmer

Apples2 wrote: »

4 years ago lenders were falling over themselves to find customers to throw money at.

IMO opinion I think it a good idea to base all applications as if it is a first, of course, they can (and did) see the excellent history when basing their refusal.

The days of responsible lending does have a downside, as you have discovered.

Hi Apples2. Here's the weird thing, do you know how long repaid bank loans show on Experian for? This one doesn't show on her credit profile 8 months after being settled. Love to hear your feedback on that.

nursingassistant

My husband took out a secured loan approx 18 yrs ago and have just found out from him that it wasnt paid in full. My mortgage ends in August and the loan companys name Cedar Holdings is still on the title deeds. I have tried to find a phone number for Cedar Holdings, but to no avail. My other half says that they havent been in touch for over ten years, but I would like to find out how much we still owe them so that I can pa it off.
I have struggled for years with debt finally get it paid, get near to my mortgage finishing and now I'm hit with this. Can anyone give me advice.
It seems the loan was for £1,000 over three years.
Thanks

CH27

rickandmer wrote: »

Thanks for the replies. It's not the loan being declined that irks, it's the fact that good behaviour is completely ignored, whilst poor repayment incurs years of suffering.
As to the reward, she now has to repay almost £80 more per month through Audi Finance as a result of being turned down by her own bank, whose customer service incidentally, is shocking. I'm sorry if £20K doest seem responsible, drbesty, what would you feel is more appropriate, £40. The amount you borrow is irrelevant and determined by your financial standing, it's how you repay that counts, or it used to be anyway!

Good behaviour counts for nothing if circumstances have changed.
Nobody would let someone lend £29k unsecured at the momment.

Foggster

nursingassistant wrote: »

My husband took out a secured loan approx 18 yrs ago and have just found out from him that it wasnt paid in full. My mortgage ends in August and the loan companys name Cedar Holdings is still on the title deeds. I have tried to find a phone number for Cedar Holdings, but to no avail. My other half says that they havent been in touch for over ten years, but I would like to find out how much we still owe them so that I can pa it off.
I have struggled for years with debt finally get it paid, get near to my mortgage finishing and now I'm hit with this. Can anyone give me advice.
It seems the loan was for £1,000 over three years.
Thanks

You would probably be best starting a thread of your own.

A quick google of "Cedar Holdings" came up with the name address and telephone number.

http://www.cylex-uk.co.uk/company/cedar-holdings-13232084.html

The reason they stopped chasing is because they had a charge on your property and knew they would be settled when you came to sell or pay off the balance.

CLAPTON

rickandmer wrote: »

Thanks for the replies. It's not the loan being declined that irks, it's the fact that good behaviour is completely ignored, whilst poor repayment incurs years of suffering.
As to the reward, she now has to repay almost £80 more per month through Audi Finance as a result of being turned down by her own bank, whose customer service incidentally, is shocking. I'm sorry if £20K doest seem responsible, drbesty, what would you feel is more appropriate, £40. The amount you borrow is irrelevant and determined by your financial standing, it's how you repay that counts, or it used to be anyway!

no, it 'used' to be that people saved for things they wanted; it's only during a a recent mad insane period that people suddenly thought that 'afford' meant 'borrrow'.

hopefuly people will go back to the previous century and save for un-necessary luxuries like expensive cars.

opinions4u

nursingassistant wrote: »

My husband took out a secured loan approx 18 yrs ago and have just found out from him that it wasnt paid in full.

How has this come to light?

My mortgage ends in August and the loan companys name Cedar Holdings is still on the title deeds.

It's possible that the debt has been repaid, but the charge not removed at the Land Registry. If this is the case, you simply need them to do this (once you've tracked them down).

I have tried to find a phone number for Cedar Holdings, but to no avail.

Perhaps contact the Land Registry?

My other half says that they havent been in touch for over ten years

I thought they'd ceased trading. If that's correct, somebody will have bought their assets at some stage - so if money is owed it doesn't just stop being owed. Several years of interest will have rolled up.

Interestingly, this link comes up with an address of 25 Gresham St - home of Lloyds Banking Group.

nursingassistant

Thanks for the replies. It came to light when talking to the building society regarding what happens when the mortgage is paid I have started a new thread in the hope that someone may have contact details for Cedar Holdings.

Apples2

rickandmer wrote: »

Hi Apples2. Here's the weird thing, do you know how long repaid bank loans show on Experian for? This one doesn't show on her credit profile 8 months after being settled. Love to hear your feedback on that.

There are three CRA's. Not all accounts are reported to all three so it will be worth checking the other two.
As for how long they remain visible for, I was astounded at just how much I could see on my credit file, some of them were well past 6yrs (even an old Rumbelows agreement for a washing machine I bought just after the old King died).

Whether they should be removed after 6yrs as opposed to ignored after 6yrs I suppose is up for debate.