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Hi Folks I am trying to help sort out my father’s finances. He defaulted on a boiler loan, and the loan was sold on to another company who want £3000. Im suggesting he appeal either to fin ombudsman [though I have read here that they are not much use] or court eg. The decision to sell on the loan, the repayment levels. He took out a loan for a new boiler in 2008, and has defaulted. The loan term was 120 months/10yrs. Apr 20.8%. ‘Current monthly rate 1.468%’ My father paid on time by direct debit until he defaulted in late 2013, early2014. He defaulted as he as didn’t keep
Hi all, First of all I have been a bit cheeky, but if anybody could clarify the below it would be appreciated. I returned to the UK last month and the SLC want 5 grand off me upfront for loan arrears and additionally I need to pay the remainder of the debt off via the PAYE system. The amount to be paid off via the PAYE is for around another 10k and will be paid off in due course. My question, as I cannot afford to pay off the full 5k. Has anybody been in this position before and if so what was the outcome? I hoped that the arrears would be consolidated with the remainder and I