Secured Loans: cheapest lending of last resort

in2deep_2

Barclay's bank have a good rate for secured loans(up to £100000), i just wonder if its a safer option going to a bank rather than a TV company.

You should be able to get an unsecured loan for up to £25000.!!

marshallka

kellymundy wrote: »

Because of what is going on with First Plus at the moment I'm really worried about them putting up their interest rate because they now don't need to protect their reputation.
Stupidly 18 months ago my husband and I took out a £20,000 secured loan with them thinking it was our last resort. We know it will cost us slightly more than that to pay them off even though we've been paying £171 a month for the last 18 months but we are trying to come up with options to raise the money to clear it just to get away from the (we can't afford for them to hike up the payments)!
Has anyone ever paid of a secured loan with a couple of unsecured ones or does anyone know if this is even possible?

I would not worry about that. Barclays own firstplus and still will do i think. You could always make a complaint to Barclays about it. They will be worried about their rep. Also about paying them off too. When was the loan taken out because they are known for using rule 78 on older loans when you settle with them. This can bring about a settlement figure more than what you borrowed. Have a look at your agreement and see what it says for settlement as if you request a figure they often raise the interest the month after. They did with me.

marshallka

san_uk wrote: »

http://www.ukfinancialsltd.co.uk may be useful for you.

Are you touting for business here. Seems to me the only posts you make are ones including the above:rolleyes:

kellymundy

marshallka wrote: »

I would not worry about that. Barclays own firstplus and still will do i think. You could always make a complaint to Barclays about it. They will be worried about their rep. Also about paying them off too. When was the loan taken out because they are known for using rule 78 on older loans when you settle with them. This can bring about a settlement figure more than what you borrowed. Have a look at your agreement and see what it says for settlement as if you request a figure they often raise the interest the month after. They did with me.

What do you know, I got a letter from BARCLAYS FIRST PLUS this morning putting my interest rate up!:rolleyes:

marshallka

kellymundy wrote: »

What do you know, I got a letter from BARCLAYS FIRST PLUS this morning putting my interest rate up!:rolleyes:

I'm sorry, i do not understand your post here

marshallka

marshallka wrote: »

I'm sorry, i do not understand your post here

If you read my posts they did that with me and everyone else anyway and it was not anything to do with their rep. They just do it anyway. I really doubt it was to do with them closing to new business. I had mine rise everytime i asked for a settlement figure just to make sure i could not pay them up.

I have noted a couple of people on here say today that their rates have gone up with Firstplus.

I never said i actually KNEW they would not put up your rates only that i doubted that they would put them up because of their rep and closing to business. I only tried to help.

kellymundy

You've taken it the wrong way it wasn't meant as a dig hun. I was just saying they've put my rate up which doesn't really leave me with a warm fuzzy feeling about where they're going in the future. Sorry you took it as an offensive remark, I promise you it wasn't.:o

(I didn't even ask for a settlement figure!:()

marshallka

kellymundy wrote: »

You've taken it the wrong way it wasn't meant as a dig hun. I was just saying they've put my rate up which doesn't really leave me with a warm fuzzy feeling about where they're going in the future. Sorry you took it as an offensive remark, I promise you it wasn't.:o

(I didn't even ask for a settlement figure!:()

Thats Firstplus all over, they always have done this and that is why there are so many complaints with the FOS about them. They have their own law book by the looks of things. If i was you i would complain to Barclays about it and see if you get any joy there.

Good Luck

MikeTomlinson

Hey.. Im wondering if anybody can help me at all. I have 2 credit cards and the total balance is £700 for both combined.. these accounts have been passed to debt reclaim companies.. who are obviously pestering me for payments!. I have missed more than several payments on both of these credit cards and therefore it has tarnished my credit profile. I do have a loan aswell but i have kept up with all payments on this and will continue to do so. I dont earn enough money to pay these debt companies of in full. Or even over the course of a few months or so.. as they will continue t add on interest. Therefore after thinking about my situation carefully i feel if i could get a £1000 loan. To pay both credit cards and the small overdraft i have off.. then i can pay back over 12 months the £1000 borrowed. So that then after the year is up i will only have my loan left to pay. I live with my Step-Dad who cant help me.. and also other family and friends cant either. I feel like im stuck in a rut that will never pass.. Does anybody know of any specific loan company that will be give the loan amount i need without dragging out proceeding's.. somebody that has used them before ??.. please any views advice or anything to help me would be highly appreciated ... Thankyou

Faanaraj

MSE_Andrea wrote: »

The following is the area to discuss or ask questions about the site article on secured loans, which you can click here to read.

Hey,

Thanks for providing this great information and it is nice to hear that the secured loans are cheap...