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Borrow £500... Pay £88000 Back...


fkofilee
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Ladies & Gents... Please don't use Loan Sharks...

 

There are warnings that millions of Brits will slide into debt this Christmas because of the pressure to spend more than they can afford.

 

An investigation by Good Morning Britain found that instead of banks, many people are turning to illegal lenders. Almost half of those who've borrowed money for Christmas this year have used loan sharks, with more than three quarters already struggling to pay it back.

 

It comes as the National Debtline today warned that nearly a quarter of us feel under pressure to overspend during the festive period.

 

We're joined by Debra Wilson who ended up paying back £88,000 after borrowing just £500 from a loan shark 15 years ago along with Tony Quigley from the Illegal Money Lending Unit.

 

HERE

 

Please watch the 7 minute Video on Daybreak's Site....

 

The Article was run by the BBC after the original case in 2009....

 

HERE

Edited by fkofilee
Original Article From BBC

 

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**Fko-Filee**

Receptaculum Ignis

 

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Oh and er.............. Legal lending is just as bad...

I wrote a thread about On Stride Financial who are a PErsonal Loan Company who are under the CashEuroNet Umbrella... Oh WAIT! Thats Quickquid!....

 

FYI They have changed their Lending Amounts... Check this out...

 

Borrow £10000 at 89% Repres...

 

Monthly payment:£ 565.54

Number of payments: 60

Total to repay: £33932.40

 

[ATTACH=CONFIG]60492[/ATTACH]

 

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Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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Quite shocking that the Illegal Loan Shark received a suspended sentence only !

 

Good find fko.

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1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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