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Worried about CIFAS
long story short, my wife is self employed and had a medical issue which meant she needed treatment and couldn’t work for a year. I was therefore having to cover bills etc until it became too much and I had to enter a DMP. One of the companies I had a loan with I was only able to make 1 payment to, we had hoped that by this point my wife would be receiving regular income but that didn’t happen. The loan company have agreed to the dmp to be reviewed in 6 months, however I’ve had a letter through demanding arrears paid by end of month. I’m just wondering what the chances are of a cifas marker are as the loan was only recently opened.
Comments
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If she took the loan out knowing she would shortly have to stop work and struggle to pay it could be application fraud but it's a high bar for the lender to prove. If she took it out in good faith they should not by looking at CIFAS
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.
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