i used to sell payment protection on credit cards...

worked out the mounthly premium was basically the same as 9.9% apr interest rate!... and to claim was as hard as eating 5 or more crakers with no drink!

Nice one.

Jay - I think they are on commission, yes. They certainly appear like they are.

They gave me it anyway :)

:lol:

i just say i work for the NHS, so i get 12 months full pay and lifetime half pay. they dont care.

When my dad was self employed in the shop HSBC tried to get him to take out payment protection and he said ive read the terms and the protection doesnt apply to self employed people, the fella in the bank insisted he couldnt have a loan without it, told him to get his manager and the manager confirmed self employed people cant use the protection, do they get commision for selling you loan protection?

No I was applying, Barclays.

quote:

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Originally posted by Ian
Him - "Do you want protection on the loan"

Me - "No"

Him - "For only this much a month blah blah sell sell"

Me - "Its cheaper without it"

Him - "How will you manage without it"

Me - "Because I'll spend less time insuring it and more time settling it"

Him - "How are you going to pay it off if you can't work"

Me - "I get 6 months full pay"

Him - "What about after that"

Me - "Half pay"

Him - "So if you fall in to arrears"

Me - "I'll sell my car"

Him - "What if that depreciates and doesn't cover it"

Me - "I'll sell my other car"

Him - "How will you get around"

Me - "In my other car"

Him - "What if that breaks"

Me - "Stop worrying on my behalf AND SHOW ME THE MONEY ALREADY"

[Edited on 15-01-2008 by Ian]

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I'd have walked out at the "What about after that" stage tbh

Him - "Do you want protection on the loan"

Me - "No"

Him - "For only this much a month blah blah sell sell"

Me - "Its cheaper without it"

Him - "How will you manage without it"

Me - "Because I'll spend less time insuring it and more time settling it"

Him - "How are you going to pay it off if you can't work"

Me - "I get 6 months full pay"

Him - "What about after that"

Me - "Half pay"

Him - "So if you fall in to arrears"

Me - "I'll sell my car"

Him - "What if that depreciates and doesn't cover it"

Me - "I'll sell my other car"

Him - "How will you get around"

Me - "In my other car"

Him - "What if that breaks"

Me - "Stop worrying on my behalf AND SHOW ME THE MONEY ALREADY"

[Edited on 15-01-2008 by Ian]

quote:

---

Originally posted by Tom
He aint got any :lol:

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He aint got any :lol:

Don't lie, but why cant you use your savings to pay some of your debt off

You may loose interest earnt on savings, but that will be alot less than a loan at 6/7/8% etc in the long run

yeh thats what i want to do, but ive done it before and theyve asked if I have savings etc. should i just say no or lie?

So you want to apply for a new loan to clear exisiting debts, and externd the term of your current one?

Call the loan company, ask to borrow more on top of your current loan, then extend the term of it?

Anyone who has done this before, did you lie when they asked if you have any savings for if you get sacked/have long term sick leave.

The reason I ask is i'm wanting to lend extra money on my loan so I can get rid of my credit cards etc. But I know this question will come up. Makes no sense to me why they ask like as if I had savings I wouldn't lend money in the first place :lol: