Hello, im hoping for some information for a friend. Were in the UK btw. So, im helping my friend get on top of their finances and fix their credit score. I got them to sign up for Clear score (Credit rating of 240) and saw that they had a loan with a bank that they are no longer with for £2000. I asked them about it and they said they got a loan to go travelling in 2010. It was originally 5K. It went up to 6K with interest. They paid it off to 3K and then decided to just stop paying it. Then 2 years ago they were contacted by the bank and pretty much forced to pay off another grand or so and it is now at £2000.
Im wondering whether they have any options. Ive never taken a loan or owed anyone that much money before so dont know whats best. Is their only option to pay it off? Is there a possibility of paying it off for less in a lump sum maybe?
Thanks for any help and advice
Submitted February 01, 2018 at 08:57AM by checkT http://ift.tt/2EtBXTU
