Hello and welcome --- for a start 25% is exhorbitant for a personal loan and, secondly, not many posters here take credit any longer -- so recent experiences will be few and far between.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If you have been offered a loan at this rate then your credit score may be a bit lower and hence the reason for the APR of 25%. I agree with Foggy and it is on the high side
Credit scoring - is very much up to the provider - unfortunately they wont publish their acceptible scores due "sensitive business information". maybe useful to use a comparison site - but be careful to dont make multiple application - as this will go against you
Hi from me too. An offer at 25% suggests they see this customer as high risk. All lenders' criteria is individual but similar so you can try elsewhere but I suspect the rates offered will be in the same ballpark. Credit score will be just one element that goes into the customer's risk profile. x
Have you been in an IVA Tom? This will make a difference to any lending criteria.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Unless you are extremely desperate don't take out a loan at that level of interest. My stomach churns at the thought. You will end up paying christ knows how much. These rates should be outlawed. I saw something in a money lending shop window yesterday on my travels, and it quoted some horrendous APR of over 2000%, how can that be legal. The money will be in you account in 15 minutes, i bet it will, and within half an hour you will owe them a fortune!
I imagine that would be a payday loan Howard and I wouldn't touch them with a ten foot barge pole!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I know they will all profess to use secret codes and algorithms but i wonder if they just pick a ludicrous number out of thin air, double it, add a bit, have a giggle and double it again just for a joke!?! X
Possibly! I never even entertained such loans, even when I was desperate!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
There is one on TV ("Wo****")that has a APR at 4212%