My sister in law is a single parent on a council estate who has been totally ripped off by these people. They knock on the doors of people they suspect will struggle to obtain loans elsewhere, or may not have time to do so, and get them to sign up for loans at 177% APR !!! I know she has to accept some responsibility, but the premiums are so high, we are going to have to organise her a new loan with a longer term and lower interest rate so she can afford the monthly premiums. In the past, when she is near to completing paying off one loan, they turn up on her doorstep and offer her another, no affordability checks, no credit checks, etc, they take their NI numbers so if they stop paying, they can get the money straight from their salaries. I would really like to complain about these people, but I looked them up on the internet and as far as I can see they aren't even regulated! Has anyone else had any experience with these 'Lenders'? Any advice greatly appreciated.
2006-11-13
00:24:37
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7 answers
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asked by
Anonymous
in
Credit