Welcome to PetForums

Join thousands of other pet owners and pet lovers on the UK's most popular and friendly pet community and discussion forum.

Sign Up

Personal Loans

Discussion in 'General Chat' started by CharleyRogan, May 10, 2011.


  1. CharleyRogan

    CharleyRogan PetForums VIP

    Joined:
    Feb 20, 2009
    Messages:
    10,846
    Likes Received:
    121
    Argh Lloyds TSB screw people over. £5500 loan over 4 years only £1300 paid off in 4 years despite taking £149 a month.........
     
  2. bexy1989

    bexy1989 PetForums VIP

    Joined:
    May 10, 2009
    Messages:
    3,488
    Likes Received:
    54
    i no what you mean :frown:


    2500 over 3 years, paying back 6000 at 101 a month. no idea how much ive paid back yet :frown:
     
  3. thedogsmother

    thedogsmother PetForums VIP

    Joined:
    Aug 28, 2008
    Messages:
    20,845
    Likes Received:
    509
    Flippin eck, those figures are really shocking, Im glad we dont have a loan but surely those repayments are wrong, thats loan shark repayments.
     
  4. harley bear

    harley bear PetForums VIP

    Joined:
    Feb 20, 2010
    Messages:
    13,472
    Likes Received:
    273
    Mine is 3500 paying bk 97 per month over 5 yrs :mad:
     
  5. lifeizsweet

    lifeizsweet PetForums VIP

    Joined:
    Jun 7, 2009
    Messages:
    10,843
    Likes Received:
    96
    I don't understand??

    We had a loan with lloyds for 5k over 2 years and after 2 years it was paid back and done with
     
  6. Lavenderb

    Lavenderb PetForums VIP

    Joined:
    Jan 27, 2009
    Messages:
    9,412
    Likes Received:
    395
    Banks are one of the worst for higher interest rates Ive always found. Credit cards can work out cheaper if you find the right one, but never pay only the minimum amount back each month.
     
  7. snoopydo

    snoopydo PetForums VIP

    Joined:
    Jan 19, 2010
    Messages:
    3,712
    Likes Received:
    66
    I've just been researching again This is an Example of Credit card Repayments



    Illustrative example For a purchase of £250 on your credit card
    Monthly Payment Minimum Payment each month
    £50 each month

    Without taking into account any introductory rates, how much interest will you be charged in the first year? £79
    £27

    How much interest will you be charged in the second year? £66
    £0

    How long would it take to clear the balance? 7 years, 3 months
    6 months

    :eek: Doe's this REALLY mean it Would take 7 years and 3 months to pay off a £250.00 purchase?


    I'm So pleased I have not got one.
     
  8. CharleyRogan

    CharleyRogan PetForums VIP

    Joined:
    Feb 20, 2009
    Messages:
    10,846
    Likes Received:
    121
    Yep! It would!!

    £149*48=7152

    So £1300 actually off the balance so £5852 in interest and PPI which currently claiming back for!
     
  9. bexy1989

    bexy1989 PetForums VIP

    Joined:
    May 10, 2009
    Messages:
    3,488
    Likes Received:
    54
    I took out that payment protection thing but i was asked if i wanted it and im not paying anything for it so dont think i can claim back for it :(
     
  10. CharleyRogan

    CharleyRogan PetForums VIP

    Joined:
    Feb 20, 2009
    Messages:
    10,846
    Likes Received:
    121
    Yeah but say you didn't know so try! They screw you, screw them back!
     
  11. bexy1989

    bexy1989 PetForums VIP

    Joined:
    May 10, 2009
    Messages:
    3,488
    Likes Received:
    54
    hmm i might well have to haha!
     
  12. CharleyRogan

    CharleyRogan PetForums VIP

    Joined:
    Feb 20, 2009
    Messages:
    10,846
    Likes Received:
    121
    I hate banks the way they get away with I everything!
     
  13. snoopydo

    snoopydo PetForums VIP

    Joined:
    Jan 19, 2010
    Messages:
    3,712
    Likes Received:
    66
    I can't get my head around taking 7 YEARS to pay £250.00 off :confused:
     
  14. Nithnell

    Nithnell PetForums Senior

    Joined:
    Aug 22, 2010
    Messages:
    604
    Likes Received:
    14

    Their loans work on the basis of whatever your interest rate is say 3% (the actual interest rate, not the comparable apr) of the balance each month, plus if your ppi was taken out before last year it would have been a lump sum on top of the original amount. Miss a couple of payments early on in the loan, (i'm not saying you have) and 3% of your balance ends up being more than your repayment, hence where peeps get into a mess.

    If the company agree the PPi was missold and refund the difference off the balance, that'll help :) I find it odd that the loan hasn't been paid off already though, if everything's up to date and there's no previous late charges or anything. If you need any help give me a shout, i used to work for this lot :001_smile:
     
  15. harley bear

    harley bear PetForums VIP

    Joined:
    Feb 20, 2010
    Messages:
    13,472
    Likes Received:
    273
    I want to pay my loan off as quick as i can but even of i do to close the loan i have to pay a fee of £60 for paying it off early:mad: ROBBING BARSTEWARDS
     
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice