I've had a gambling addiction which has lead to thoughtless borrowing and large amounts of debt. Earlier this year i decided to do something about it and I've currently got the gambling under control, put in complaints with all the PDLs i borrowed from and joined StepChange. The CAG guides have been a massive help, so thank you to all those involved.
One problem I still have is a £7500, 4 year guarantor loan with UKCredit. I've currently paid UK Credit £3,800 but have fallen short on the payments since March. I've found the guarantor loans really cause problems on a dmp, as StepChange are suggesting £97pm and UKCredit are making my guarantor pay the rest. When trying to go back to StepChange to get this increased to full 281.50pm, they've refused.
Jan 16 | £7,500 | £281.50 a month | Current Balance £6998.09. My guarantor is my partner.
My question is can I claim irresponsible lending like I did with the PDLs or does having a guarantor stop that claim?
When I applied for a loan with UKCredit I had the following outstanding:
118 118 MONEY | £2500 | £190pm
AVANT | £3800 | £175.42pm
Sunny £900 |
MyJar £1000 | £495.29 pm
Payday UK £800 | £969.36
Marbles £900 - £25.36pm
Mr Lender £250 | £274
Satsuma £300 | £88.40pm
Santander Credit Card £1900 | £30pm
Vanquis £450 | £45pm
My credit file was littered with missed payments and my bank statements showed my gambling situation.