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Martin Lewis Loans

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avfc82
avfc82 Posts: 83 Forumite
in Loans
Why doesn't Martin Lewis provide loans, since he has sold the website he has money in the bank. He'd be hailed as the Robin Hood of this generation.
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Comments

  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    avfc82 wrote: »
    Why doesn't Martin Lewis provide loans
    Because he understands his customer base.

    They'd all be squealing mis-sale before they've made a single repayment.

    It would be a very quick way for him to lose his £80m.
  • forgotmyname
    forgotmyname Posts: 32,931 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Because he is sensible? Or because he doesnt want to or maybe he does and you have not done your research?
    Censorship Reigns Supreme in Troll City...

  • Clive_Woody
    Clive_Woody Posts: 5,940 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Because a huge proportion of people who visit his website are looking for ways to not repay their loans.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • avfc82
    avfc82 Posts: 83 Forumite
    He can do credit check reports on the users, then he can see which users have had missed payments or anything like that. Sensible? He's just stating the obvious, people though are led by temptation! If everyone was sensible then there be no banks out there!?
  • NobodysChild
    NobodysChild Posts: 226 Forumite
    Has he really got £80 mil?!

    Or is that a joke? :D
    No debt left now. Saved £111 in our sealed pot last year. And £272.13 this year! Also we have £2300 in savings. :j

    SPC #468 :D Target £250 for 2015.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Because when the next PPI scandal comes around he would be telling people how to screw himself over because he made a small mistake on their loan agreements.
    Changing the world, one sarcastic comment at a time.
  • avfc82
    avfc82 Posts: 83 Forumite
    About that yes
    http://m.bbc.co.uk/news/business-18295587
  • bsms1147
    bsms1147 Posts: 2,276 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Loans cost money.

    This website is about saving money.
  • theoretica
    theoretica Posts: 12,691 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    avfc82 wrote: »
    Why doesn't Martin Lewis provide loans, since he has sold the website he has money in the bank. He'd be hailed as the Robin Hood of this generation.

    He does or has done, though perhaps not in the way you mean http://www.moneysavingexpert.com/savings/peer-to-peer-lending

    "For over a year-and-a-half, MoneySavingExpert.com founder Martin Lewis has been using all three big peer-to-peer lenders"
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    the site is mainly about how to avoid debts, so he would lose it all. Plus maybe not prepared to put his money where his mouth is
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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