Thread: Co-operative Bank Debt

Hello all!

over the past few years I got myself in a bit of a mess with debt and really was too young to understand the consequences! I also understand things are done a little differently in scotland hence why i've posted it here.

I started off getting a career development loan with the co-operative bank must be a good 3 years ago and it was the worst decision i've made! I was completelty mis sold it by a training company and the interest on the loan was huge!

The total amount was £5000 but to be honest they made the interest up on it! if I can remember it was around 15%

I had left my job and became unable to find a new one so I had to stop paying most of my bills just to survive. I have since moved house but was really too scared to ever contact them (daft i know!)

Now I am in a good position and currently plan to have everything paid off by 6months, well apart from this loan!

Is there anything that could have happened in those 3 years? I can imagine I have defaulted.

I really want to begin to get everything sorted and move forward. What would the best steps be?

Thanks for the quick reply,

The last time would have been before I moved a good 2 years ago now:S

I haven't checked my credit rating for about the same amount of time, head in the sand!

I think that may be worth a shot, would atleast tell me where I stand.

This would have been the co-operative themselves advising I had missed some payments and issued a default notice, it was shortly after this I moved.

Well yea its just like a normal bank loan expect you had a year break to finish studying what the loan paid for.

As I understand its just a typical loan with a few differences

Professional and Career Development Loans: what are they? : Directgov - Education and learning