Bad loan company need help 😔

Candyapple

Beccapuglove wrote: »

Thanks for all your replys , Iv explained to her about 1300 won't stay that amount if not paid off now! We have also phoned her bank to go in and see if anything can be done with transferring the debt to a low rate credit card! she is nervous telling her bank manger her problems but I'm pushing her to go and ask if anything she can do to help! And yes she has defaulted a few times hence is spiralled out of control 😔

The company still very rude on the phone to her was on loud speaker took going through to 4 people to get settlement sum! They would not give no more information after that as we asked for a break down of the charges said she is paperless so can't send out! Load of rubbish xxx

No point wasting your time going to the bank as your friend's credit history is going to be shot.

Also, you said the loan was with a loan company, the bank giving your friend a credit card is not going to clear the loan, unless the loan company accepts payment via credit card? If they do, then that is one avenue to explore but I don't hold out much hope as like you stated, your friend has already defaulted so once the bank did a credit check for a card or loan on her it would more than likely end up declined.

What your friend needs is a money transfer card and since no banks offer one only MBNA or Virgin, plus you need a good credit history to even get one in the first place, again, your friend's situation isn't looking too good.

ViolaLass

Can't see your friend getting any kind of low rate loan if she's been defaulting.

Does she have a plan for paying it off? Can she manage more than £50 a month? If she will let you, you could go through her monthly outgoings or post them here and we'll find more money for repayments.