Managed Loan No Way

1st_lemming

All this halabaloo about getting your money back from banks who've overcharged you at some point in time is a bit disapoingting. I came to Lincoln 5yrs ago with only a few pennies in my pocket but found somewhere to live and got my benefits sorted out.

Then I took out a loan with my bank HSBC for £10,000 to get all those things you need when you set up home. The only thing I really got was grief. After 2yrs I was struggling with the repayments due to the fact that because my back is broken (after an industrial accident in 1994) I can't work, so I must rely on benefits which don't match the rate of inflation. So I had to change to a managed loan.

Now, after 3yrs Ive only managed to pay off £1,500 because the bank takes £110.97 in interest after I pay my £151.64 a month. Is this fare, I think not.
I've worked it out to 17yrs of paying back this loan at the current rate of interest. I'll have jumped off that cliff a long time before that.

No ones to blame but me for the things I've done and I'm glad for the people who got the chance to turn the tables on their respective banks.

Thanks.

Brassicks

You were on benefits and LLoyds give u a loan for 10 000 pounds.....I think ,like a lot of people here,uve been had.......

1st_lemming

Never had an account with LLoyds but if they give loans to those on benefits I'll be in there on Tuesday to see what the repayment fates are.

Thanks brother.

Lemmings against the Loansharks, we shall not be pushed over the edge.