We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

hsbc loan

2

Comments

  • Shelldean
    Shelldean Posts: 2,423 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    When did you go into DMP? As if the loan was taken in 2006 for 6 yrs then surely you must be nearing the end of the term?
  • saleschick
    saleschick Posts: 23 Forumite
    thanks - but my dmp advise me im paying of a 23k debt to them - i WILL get a copy of the agreement and see what I can do- it may well of been more I was paying - i cant really remember -just know its haunted me since the charge was put on my property-
    x:cry::cry::cry:
  • Shelldean
    Shelldean Posts: 2,423 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I hope you're using one of the free DMP companies not one that charges.
  • saleschick
    saleschick Posts: 23 Forumite
    Shelldean wrote: »
    When did you go into DMP? As if the loan was taken in 2006 for 6 yrs then surely you must be nearing the end of the term?

    No they tell me out of the £23k I still have £17k to pay -it will take me near 20 years to pay as I pay the dmp who pay the solicitor £123 a month now

    Im bewildered really x
  • Shelldean
    Shelldean Posts: 2,423 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    And ALL our HSBC Loans in last ten plus yrs have had interest front loaded so would assume it's something they always do. I have copies of our various loans with them ( kept consolidating ) and all state the interest so yes you're best making the formal request for a copy of your agreement
  • saleschick
    saleschick Posts: 23 Forumite
    Shelldean wrote: »
    I hope you're using one of the free DMP companies not one that charges.

    No I didnt know they existed - who are they - the one im using at the mo- doesnt have a consumer credit licence it expired on 3 jan 2012 - im about to try another one but yes they charge ???
  • Shelldean
    Shelldean Posts: 2,423 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    from memory they are called CCCS and payplan???? Read the debt free wanna be board to confirm this first.
  • Shelldean
    Shelldean Posts: 2,423 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    yep

    CCCS info HERE
    Payplan info HERE

    Please use one of these two companies who help you FREE of charges. ALL your money goes on you debts then. But do go and read the debt free board.
  • jonnyd281
    jonnyd281 Posts: 569 Forumite
    Part of the Furniture 500 Posts
    All front loading means is the interest for the whole life of the loan is added to the account straight away, instead of calculating the interest on a monthly basis. Is the account in arrears?
  • Firefox1975
    Firefox1975 Posts: 461 Forumite
    Well you must have signed the agreement?

    and it will always say the final value of teh loan including interest?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture