Mis sold loan from wife.

LameWolf

YorkshireBoy wrote: »

However, if you're going to avail of these be aware that Wife Finance 'searches' (of pockets, mobile phone text messages, hotmail accounts, etc) are far more thorough than those of conventional lenders.

(apparently)

I would like to point out that representatives of WFI are required to carry out such searches, in order to avoid inadvertent money-laundering.

27col

Is WFI better or worse than POFL(Pound of Flesh Loans), or should they both be avoided.

Jojo_the_Tightfisted

POFL tend to have issues with enforcement.

lawrie28

I borrowed £10 from Other Half Loans (Girlfriend Division) about 12 years ago. After agreeing for repayments to be made in a non cash format (cleaning, ironing etc.) the loan was then sold on to Wife Finance. I have been making similar repayments ever since, and having asked for a statement recently I was told the debt now stands at approx £100,000 !!!! I don't know how to repay this debt, anyone help?

Valli

@ Lawrie

Unfortunately your failure to keep track of this debt, and making only the minimum repayment (it would seem) means that this debt has continued to increase.

I suggest you post a SoA and get a statement from your lender specifying the interest rates being applied to this loan.:p

opinions4u

Valli wrote: »

I suggest you post a SoA

I would recommend doing this anonymously.

A Statement of Affairs shared with Wife Finance runs a high risk of leading to legal action or at the very least loss of other rights.

(apparently)

cord123

I am a director of WFI and I feel that all charges applied are fair and just.... if however, you do have any complaints please feel free to write them down and file in the brabantia in the corner of the kitchen.

lawrie28

I have done some more research and it turns out I can apply for a Debt Initiative Verification Optional Repayment Clarification Enforcement......Anyone shed any light on it?

cajef

lawrie28 wrote: »

I have done some more research and it turns out I can apply for a Debt Initiative Verification Optional Repayment Clarification Enforcement......Anyone shed any light on it?

Very expensive.:eek:

kazwookie

I am informed that the WFI interest rates have just gone up, you owe her even more now!!