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I have been offered a 2k loan with 118118 - total repayable £4653 - Obviously im not going to take it - more to the point it got me thinking, that's as high a APR as companies like Provident - I thought the max repayable now was 1 x what you borrowed, so in the case above 4k - It shouldn't be allowed.

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moved to the pdl forum

 

that's only if you default

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi Tezza - Not quite the case. PDLs are limited to 2 x what you borrowed including the interest charge & default charges.

These loans from 118 are not classed as PDL and arent subject to the same rules.

 

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**Fko-Filee**

Receptaculum Ignis

 

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