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Employee loan repayment

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Comments

  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 20 December 2022 at 11:41PM
    How long will it take you to repay in full at the current rate? How much are you repaying per month? Sorry, but it's naive to think that they would continue to grant you an interest -free loan for a large amount once you are no longer employed by them. No company would offer this facility.
    Once you are no longer an employee, they have no security on the loan. It becomes an unsecured loan that they can only recover via a CCJ.
    Don't ever take a loan without reading the contract, whoever the creditor might be.
    No free lunch, and no free laptop ;)
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