LoqBox?

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LoqBox?
 

sandybrowneyes2002

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Joined: Wed Mar 29, 2017 4:37 pm
Post by sandybrowneyes2002 » Mon Oct 28, 2019 7:51 pm
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Nearing the end of IVA, Have not got a completion certificate yet.
I wanted to join up to LoqBox, I'm unsure if this is seen as credit or not?!

Anyone know ?
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Foggy

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Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Mon Oct 28, 2019 8:05 pm
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I would say it was credit -- even though the loan is 'locked away' from you -- you are still borrowing ... which is why you get the green ticks on the credit report for repaying a loan. Personally I see no merit in LoqBox.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Marty171

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Posts: 74
Joined: Sat Jul 20, 2019 12:18 pm
Post by Marty171 » Mon Oct 28, 2019 10:43 pm
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I've had one for 2 months as i heard it helps improve your credit score.

My credit report shows that i have a £240 loan at which i pay £20 per month back, i havent actually had a loan however i think its the way they work it so it shows you're keeping up with repayments and can boost your score by doing this.
IVA Started 07/07/2017
F & F Accepted 06/09/2019
Completion Certificate 16/12/2019
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