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"Managed Loans"
Chris555_2
Posts: 2 Newbie
in Loans
Can anyone help me please. Through no fault of mine my business had to close 2 years ago. At the time I had a business loan and personal loan with HSBC They talked me into having a managed loan to pay it off but warned me that the interest would be high and that as soon as I could I should convert to a conventional loan to settle it. 2 years later I am in a highly paid job but the bank won't convert my managed loan to a personal loan saying my credit rating is not good enough. Upon checking, my credit rating is c..p because of my managed loan. I have also tried to get a new credit card but have been refused by 4. I think the bank are acting unfairly - advice would greatly appreciated. I am paying £450.00 per month and only about £17.00 comes off the capital
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