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loan over 10 years and still paying

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  • Nasqueron
    Nasqueron Posts: 10,761 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    since typing in cahoot flexi loan in mse search bar .That is why i am asking because things change which people like me are unsure about ,hence that is why i said about the financial ombudsmen .
    how many people got miss sold ppi (i know nothing about ppi) as the trust was with the banks

    So from the questions you are asking me i take it my own stupidity about finance has got me here (which i know)

    Certainly with credit cards if they up the interest you can refuse it and the card is frozen and then closed once paid off. To be honest it might well be cheaper if you are in a better financial state now to just take out a cheaper loan and pay it off or try and overpay. Even at 9% an £8600 loan over 10 years is going to cost £18571.20 to pay back let alone 23%

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • Ok thanks for helping I'm in financial difficulties now so will probably need to seek advice as another loan is not a option
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