I don't mean to pry but does anybody have any experience of or with these things. I am wondering if I am being fiddled? The situation is one in which the broker we arranged a deal with told me he needed to prersent a list to the lender of the the outstanding credit items we wished to consolidate. I indicated to the broker that I did not wish to consolidate any of my outstanding credit as to do so would have the effect of stretching the payments out over a stupidly long period of time. For example I did not wish to end up paying the outstanding finance on the car as it would work out cheaper to continue paying for the credit over 5 years than having to consolidate and end up paying an amount over 25 years in the amount I wish to loan. The broker indicated to me that I would not have to consolidate but it would look good if I said yes.He also indicated that I would get the full amount I wished to borrow and that it would be entirely up to me if I wished to consolidate any existing credit agreements This was indicated in writing viz a viz email. The problem is I have just received notification that the deal is now completed and the cheques will be with me anytime soon. Well there should only be one cheque and certainly not any more than one which was the initial amount I wished to borrow. I certainly did not wish to receive a number of different cheques written out to the companies I already owe money too. Does anybody work or know anything about these credit deals? Thanks.
loans
- Thread starter ethan
- Start date
It was a secured loan of approx £10.000 whereby I was told in written form that I would receive the full amount and that it would not be a condition in receiving it to consolidate (by the Broker)....Intelligent loans company.
In fact it would not make any sense to consolidate and I would be insane to stretch an outstanding car finance deal from five years to over twenty because this is what it would amount to in terms of paying of the new loan deal.The broker simply told the lender that we would be looking to consolidate whatever credit agreements we had outstanding, just to push the deal through. Well I am going to be mightally cheesed off if this turns out to be a consolidation deal.
In fact it would not make any sense to consolidate and I would be insane to stretch an outstanding car finance deal from five years to over twenty because this is what it would amount to in terms of paying of the new loan deal.The broker simply told the lender that we would be looking to consolidate whatever credit agreements we had outstanding, just to push the deal through. Well I am going to be mightally cheesed off if this turns out to be a consolidation deal.
Whenever I have taken a consolidation loan, it has been down to me to pay off the other companies, having said that, I have only had unsecured personal loans.
What you have posted sounds a little strange, it could be the way I have read it or read into it, but it just sounds 'dodgey'
Scort.
What you have posted sounds a little strange, it could be the way I have read it or read into it, but it just sounds 'dodgey'
Scort.