SHOCKING LOAN REPORT.

SHOCKING LOAN REPORT.

SHOCKING LOAN REPORTS ARE BEING RELEASED SLOWLY WITHIN SCOTLAND.

Shocking loan reports are being released slowly in Scotland and being reported to Scotland News Information. It seems that some desperate people
are being systematically bombarded with loan offers that make some back street loan sharks look like angels.
The economic climate is certainly bringing out the worst in High St "Personal Finance", offers and deals and being targeted at those who can afford it least.
Here is an example of one such offer;
One lady we know received the letter headed; Have an extra £2000+ and keep your payments the same.
She thought this looked good as a bathroom upgrade was in her plans. She phoned up the despondent gentleman quoting a code number which was in
big bold letters on her letter. He proceeded to take down all her details and was told she could certainly have the extension, after which she was informed
the extension, ie; £2000+ would carry on at her existing payment but the £2000+ would cost her at the rate of 23.9%
She was horrified and completely baffled how the banks interest rates were less than 2% and yet these company's could charge extortionate 23.9% rates.
Although I had never personally seen these exorbitant rates anywhere I have wondered why during these times of financial hardship that credit cards are
still as high interest as they were before we hit this economic crisis, in fact the credit cards upped their rates to compensate for compulsory changes
even before this.
It seems the government need to review credit and loan card rates, before the poor people get any poorer, or alternatively employ more debt councilors
and request more volunteers to man the distress telephones.
As for the LLOYDS - "Black Horse, Personal Finance", 23.9% is simply daylight robbery and desperately needs reviewed.