It’s well well well worth emphasising if you’d an unhealthy personal credit record, particularly if it got even worse while you carried on borrowing from the home loan provider.

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It’s well well well worth emphasising if you’d an unhealthy personal credit record, particularly if it got even worse while you carried on borrowing from the home loan provider.

It’s well well worth emphasising because you borrowed more that month from the same doorstep lender if you repaid some loans early. This will be often called “refinancing” your loan.

In this situation you may possibly have compensated more in interest if you had just been given an extra loan because of the way the “early settlement calculation” was done than you would have. If this isn’t explained for your requirements by the representative (and I also bet it absolutely wasn’t!) you then paid more interest than you need to have.

Additionally it is well well worth pointing off towards the Ombudsman if it absolutely was constantly your representative suggesting you borrow more, maybe as it had been getting close to Christmas time, or in August once you could need more cash for brand new college uniforms, or as you had paid down a large amount of a past loan.