Everyday Loans

Ive_A_Horse_Outside

RichGold wrote: »

You didn't believe that did you? Variable means exactly that, both up and down.

Never underestimate the predictability of stupidity

Xbigman

17% on a variable loan with interest rates at historic lows is a disaster waiting to happen. With all their charges, and presumably over a longer time period too, I'd think it would have worked out cheaper not to consolidate.

Secured loans are never included in an IVA. If you try to write anything secured off they just repossess whatever they're secured on.

If you've had a revue where your income has fallen and expences increased then your payments really should have dropped. Your IVA company is being remiss in letting the IVA continue in such a way as it is likely to fail. I'm also wondering what equity the IVA requires you to release when it ends and how much equity there is in your property.

I'd like to have a good look at all the figures involved because a lot of this makes little sense.





X

ollie48

Xbigman wrote: »

17% on a variable loan with interest rates at historic lows is a disaster waiting to happen. With all their charges, and presumably over a longer time period too, I'd think it would have worked out cheaper not to consolidate.

Secured loans are never included in an IVA. If you try to write anything secured off they just repossess whatever they're secured on.

If you've had a revue where your income has fallen and expences increased then your payments really should have dropped. Your IVA company is being remiss in letting the IVA continue in such a way as it is likely to fail. I'm also wondering what equity the IVA requires you to release when it ends and how much equity there is in your property.

I'd like to have a good look at all the figures involved because a lot of this makes little sense.

X

Hi, Am I OK to give you the figures for you to have a look at, Can I PM you them?

ollie48

Does anyone know of someone that I can get legal advice about my secured loan agreement?

chanz4

yup a solicitor

scooby75

I'd make an appointment with the CAB. Get all your paperwork together and prepare a budget sheet of your actual income and outgoings.

Don't go with anyone who promises to write off loans / have them declared illegal - especially if they want a fee at any point. They do not exists to help you - only to make money for themselves.

I'd say your situation is one that requires the help of a debt specialist, not strangers on an internet forum.

ollie48

scooby75 wrote: »

I'd make an appointment with the CAB. Get all your paperwork together and prepare a budget sheet of your actual income and outgoings.

Don't go with anyone who promises to write off loans / have them declared illegal - especially if they want a fee at any point. They do not exists to help you - only to make money for themselves.

I'd say your situation is one that requires the help of a debt specialist, not strangers on an internet forum.

That's what I was thinking of doing. Thank you.