loans

[paulyoung666]

a reminder to everyone to check what they are getting into before they sign for it

[Bex]

Originally Posted by paulyoung666

a reminder to everyone to check what they are getting into before they sign for it

that is terrible, you should ALWAYS check the terms and conditions and go with a company with a good reputation

[Mick]

The news article ends with, No-one was available from the loan company earlier today.

Probably sitting in the sun on some beach abroad.... Rip off merchants.

[paulyoung666]

Originally Posted by Mick

The news article ends with, No-one was available from the loan company earlier today.

Probably sitting in the sun on some beach abroad.... Rip off merchants.

my thoughts exactly

[kronas]

Originally Posted by bexy

that is terrible, you should ALWAYS check the terms and conditions and go with a company with a good reputation

thats why when i have dealt with banks, i have always asked questions throughly even read the t&c and ticked the relavent boxes, i think banks need to be more clearer about a hard figure at the end of your loan repayment period, rather then going on percentages........

[Bex]

Originally Posted by kronas

thats why when i have dealt with banks, i have always asked questions throughly even read the t&c and ticked the relavent boxes, i think banks need to be more clearer about a hard figure at the end of your loan repayment period, rather then going on percentages........

i guess it depends what bank you go to and whom you see

[kronas]

Originally Posted by bexy

i guess it depends what bank you go to and whom you see

it also depends on what policies or 'credit' they push at you, when you go in and ask for a loan, the immediate thing that will happen is they will check your income etc.....

they will get you on a percentage of your income higher then what you can ultimately payback, it doesent always happen but if they see an opportunity..... cases like this one arent that uncommon.

i know how banks work i have dealt with them.

The question remains though, how on earth could someone sign up for, and how on Earth are companies allowed to charge £90,000 for an £8000 loan?

Surely this should eb made Illegal? it is extortion.

[paulyoung666]

Originally Posted by timewarrior2001

The question remains though, how on earth could someone sign up for, and how on Earth are companies allowed to charge £90,000 for an £8000 loan?

Surely this should eb made Illegal? it is extortion.

exactly

[kronas]

Originally Posted by timewarrior2001

The question remains though, how on earth could someone sign up for, and how on Earth are companies allowed to charge £90,000 for an £8000 loan?

Surely this should eb made Illegal? it is extortion.

its the consumers fault for signing such a contract in the first place.

[paulyoung666]

Originally Posted by kronas

its the consumers fault for signing such a contract in the first place.

so when you are gullible and old dont forget you wrote that

[Bex]

Originally Posted by kronas

it also depends on what policies or 'credit' they push at you, when you go in and ask for a loan, the immediate thing that will happen is they will check your income etc.....

they will get you on a percentage of your income higher then what you can ultimately payback, it doesent always happen but if they see an opportunity..... cases like this one arent that uncommon.

i know how banks work i have dealt with them.

as i said it does depend on that bank

i also know how banks work since i work for one

was the loan from something the women saw advertised on the tv i wonder? one of those "are you a house owner?" type ones

i'm very cynical about those types of adverts

Originally Posted by kronas

its the consumers fault for signing such a contract in the first place.

OK if its the consumers fault for signing such a contract its the laws fault for making such a contract legal.

[Kneebs]

Originally Posted by kronas

its the consumers fault for signing such a contract in the first place.

And of course you'd say the same thing if it was your 80 your old relative, wouldn't ya ?

Unfortunately people only usually end up with these type of companies when they have no other option - ie the major high street banks have refused them credit due to the fact they think they will be unable to afford repayments etc. The loan sharks will quite happily accept some 80 year old dear who owns their own house, knowing quite often that they can disguise the figures.....

[kronas]

Originally Posted by Kneebs

And of course you'd say the same thing if it was your 80 your old relative, wouldn't ya ?

no i am concerned that banks take advantage of the elderly.

Originally Posted by timewarrior2001

OK if its the consumers fault for signing such a contract its the laws fault for making such a contract legal.

if you dont make the necessary checks it is YOUR fault, remember compaines are out for profit, you HAVE to be careful

Originally Posted by paulyoung666

so when you are gullible and old dont forget you wrote that

he doesent seem that old, i was only commenting on this case ofcourse, there are elderly people who are taken advantage of, but they should have someone with them that knows what is going on and explain.