exorbitant APR

daddy1

Thanks to those that replied supportively. No thanks to those who made judgmental spiteful comments. who are you to judge the frame of mind of a stressed out single mum burning the candle at both ends to support herself and her toddler without running to me for help ever time she's broke. She made a bad decision and I still believe was ripped off when she most needed good advice and the cheapest option to consolidate her debt
Some good tips gleaned, but if this is the level of vitriol dished out in response to (admitedly naive) requests for help then I won't bother with the site again

opinions4u

I still believe was ripped off when she most needed good advice and the cheapest option to consolidate her debt

Is there any evidence that the lender had a cheaper option available to her?

What would her outcome have been had they refused to consolidate her other debts?

antrobus

daddy1 wrote: »

Halifax, Aug 2009 30%.....

That's not a particularly 'exorbitant' interest rate. On the contrary it seems quite a fair rate for a "working single mum on some benefits" who is looking to "consolidate her debt". The loan will have been priced to include the risk of borrowers defaulting on the debt, and defaulting on the debt is exactly what the daughter has done.

If some of the responses here appear to be harsh, it's only because people are trying to get you to understand that it's your daughter that is the problem; she's the one that is borrowing money that she can't afford to repay. She's not the only single parent in the country that's struggling to make ends meet, and a lot of them manage to do so without landing themselves with a CCJ.