Stupid Loan

Dave101

A stupid friend of mine has recently approached one of those "Bad Credit, we don't care!" companies and has taken out, unwittingly, a £5000 loan with 39% APR.

Any ideas how I can bludgeon him to death or, failing that, solve the actual issue?

jace22

are they still within the 30 day cooling period

Zeusie

Dave101 wrote: »

A stupid friend of mine has recently approached one of those "Bad Credit, we don't care!" companies and has taken out, unwittingly, a £5000 loan with 39% APR.

Any ideas how I can bludgeon him to death or, failing that, solve the actual issue?

39%? OMG? Is that legal? :eek: :mad:

Dave101

jace22 wrote: »

are they still within the 30 day cooling period

I imagine so. My friend said that the cash just suddenly turned up into his bank account the other day. I haven't had chance to read any of the details yet, I'm just seeing if anyone here has any ideas for when I do get to check over the Terms and Conditions etc...

savage

39% APR.

!!!!!!! Thats a touch high.

My dad had a flyer come through the door ages ago for a credit card with 59.9% APR however that loan is horrific!

AJolly

welcome finance by any chance? YOu should be able to cancel if its still within 30days and he obviously hasnt spent it.