How Do I Get Out Of Debt To a Loan Shark?

shark in a suit

Question I need some help. I am in debt but to just one person who visits my neighbourhood and lends money. The interest rates are very high, I don’t even know how much they are. I borrowed £500, and every time I make a payment, the balance is not going down. He keeps saying I […]

How Do Lenders Determine Affordability For a Loan?

When you apply for a loan, the bank or lender looks at two main factors: Your credit and credit score. Affordability, can you afford to repay the loan. When you apply for a loan and a lender looks at your credit report and credit score, it is a done deal. Your credit score is what […]

What Is a Loan Shark and What To Do If in Debt To One

In technical terms, a Loan Shark is someone who lends money outside of the legal and regulated government bodies. The FCA/Financial Conduct Authority is the regulator in the UK for all things credit and lending. A company must jump through the FCA’s hoops, and be in compliance with their rules and regulations in order to […]