Showing results for tags 'loan payments'.
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Hi, I had a few questions on loan agreements. I was considering lending a large sum of money by virtue of a loan agreement (commercial purposes). However, I am unsure as to its enforceability and I am concerned about this. I was considering putting a clause under enforceability that enters into a secured loan agreement of property. My question is that how do I enforce this clause if for example, the borrower ends up selling the property without me knowing. Will just mentioning the secured loan in the agreement be sufficient or do I have to take other steps?
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I took a loan of £500 with Creation Finance over 10 years ago, and now am experiencing huge problems. I paid £35 a month to this date, never really noticing the fact that I should have paid it off many years ago. I just put it down to interest, as to be honest I'm not too clued up on exactly how it is dealt with. Recently I missed a payment, and they charged my account (of which I haven't used since), and put me over my credit limit, even though it's not been used. I believe I took the loan 14 years ago, but let's just say 10 for simple math, is I believe £4200. Like I said, I put it down to interest. It didn't occur to me until today how truly messed up this is. Because of this miss-payment (due to job pay day changes, which I spoke with them about), I now apparently have 36.9% interest, of a monthly payment of £65.71 and interest of £21.38. I really need help. Now I think about it I've paid this loan off, and now me and my family are being harassed with phone calls from 7am till 10pm at night, up to 20 times a day. Sometimes it is even as bad as ringing a handful of times in the same hour. If there is anybody who knows what I can do to stop the phone calls and this ridiculous amount of money I'm paying, please advise so. Basically, I've paid the loan off almost ten folds, and now being charged almost £90 a month. Please, help.
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