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Found 5 results

  1. Hi all, I made a big mistake and took out a Ladder Loans loan for £400. Two days later I awoke in a sweat and knew I needed to make good this awful error. I telephoned them and notified them of my intention to cancel under the CCA 1974. I paid the balance of £401.61 and asked them if it would be registered to the CRAs. They said it would, which I found hard to swallow. I have cancelled the credit agreement in the cooling-off period and believe they cannot record the loan with the CRAs. Am I right in thinking this? Also, they have emailed me confirming settlement of the loan, not cancellation of the credit agreement. Are they trying to pull a fast one here? Any help is gratefully received. Thanks.
  2. Hi, I'd really appreciate some advice on how best to tackle Ladder Loans. In summary I borrowed £2000, have missed a few payments but even so have paid them more than £4000. I'd now like to know whether a full and final settlement is the best option, or whether I can fight this and pay nothing more The details are as follows: 1 - Ladder Loans is part of Inventive Finance Ltd, which I've found out runs a network of payday lenders. I was offered £2000 in July 2013 on an 18 month repayment schedule 2 - The APR per annum is an eye watering 299%, meaning that according to the CCA (which I now have), I agreed to pay them £5031.36 for that original £2000! 3 - I made 15 payments of £279.82 on time, so I've already paid them £4192.80 4 - Due to further financial difficulties (problems with my business), I missed payments no 16 (end Nov) 17 (end Dec) and what would have been final payment no 18 (end Jan). They've added £12 penalty charges for each of the missed payments 6 - They've never written to me about these missed payments or about adding penalty charges, I suspect they have been trying to call my mobile though. I asked for the CCA about 10 days ago and it arrived on Friday. I'm now thinking of doing one of two things. 1 - Offering them a final settlement on the £862.56 they say I still owe, to get them off my back Or: 2 - Making a formal complaint and seeing if I can eventually take it to the FOS. I'd base this on them adding on penalty charges but not writing to me as well as the fact that I already paid them more than double. Am I correct in thinking that payday lenders can't now charge more than 100% of the original loan? Or did I read that wrong? Can a hugely inflated interest rate be challenged? I'd really appreciate which is the best of the two routes to go down. Do I have a leg to stand via the complaints route, or would I be best just offering maybe £300 (so a third of what's still owed)
  3. Got the following from Ladder Loans, and someone please explain the arrears balance to me, and what I actually owe? Thank you for your email. The total amount remaining to be paid under your agreement is: £733.95 After looking at your completed Income and Expenditure Form, I can confirm that we will be willing to accept a reduced offer of repayment for a temporary period of three months. I can confirm that the agreement has been set into place on your account and repayments will be collected as follows: 01.06.2013 £20 (£61.55 will fall into arrears) 01.07.2013 £20 (£61.55 will fall into arrears) 01.08.2013 £20 (£61.55 will fall into arrears) After the successful collection of the above three repayments the arrears balance on your account will be £184.65 and the total amount remaining to be paid under your agreement will be £673.95 (this figure also includes the arrears that will have accrued to that point). Each month that you do not make the contractual repayment your account will fall into arrears, however as long as the above repayments are made as agreed and on time then no additional charges or fees will be applied to your account. After the 1st of August 2013 we will contact you to discuss your account going forward and see if you are able to increase repayments to avoid the account falling further into arrears. If you have any questions or for further information, please feel free to contact us by telephone on 08715592909* or email us at customer.services@ladderloans.co.uk. Our opening hours are 8am to 7pm Monday to Friday or 9am to 3pm on certain bank holidays excluding Christmas day, Boxing day and New Years day.
  4. We explain benefits and drawbacks of options ranging from special mortgages to outright gifts First-time buyers are rushing to the property market for fear that prices might spiral out of control before they can get a foot on the ladder. Figures calculated for The Telegraph by Halifax, one of Britain’s biggest lenders, suggest that record numbers of buyers aged 20-45 are turning to their parents – or grandparents – for help. But what is the best way for families to lend a hand to young people in their twenties or thirties? There are various options, from special mortgage products that put your savings to work to giving cash towards a deposit or acting as a guarantor. Each has its benefits and drawbacks. We run through the best solutions. More: http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10775065/How-to-help-children-on-to-the-housing-ladder.html
  5. Hi everyone, I was just browsing through the internet last night (as you do when the weather is against you) and came across a site: http://www.ladderloans.c o.u k. Apparently, they are a trading name of Inventive Finance Ltd and offer loans between 6 and 18 months at around 299% APR. I've searched to see if there was any other information on them on the web but can't find anything other than [problem] checks saying the site is okay, but nobody's personal experience of using the company. Apparently, they are a direct lender as there is no mention of brokering anywhere on the site. Just interested to know if anyone's had any dealings with either them or Inventive Finance. Cheers, MB78
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