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LoqBox?
Posted: Mon Oct 28, 2019 7:51 pm
by sandybrowneyes2002
Nearing the end of IVA, Have not got a completion certificate yet.
I wanted to join up to LoqBox, I'm unsure if this is seen as credit or not?!
Anyone know ?
Re: <t>LoqBox?</t>
Posted: Mon Oct 28, 2019 8:05 pm
by Foggy
I would say it was credit -- even though the loan is 'locked away' from you -- you are still borrowing ... which is why you get the green ticks on the credit report for repaying a loan. Personally I see no merit in LoqBox.
Re: <t>LoqBox?</t>
Posted: Mon Oct 28, 2019 10:43 pm
by Marty171
I've had one for 2 months as i heard it helps improve your credit score.
My credit report shows that i have a £240 loan at which i pay £20 per month back, i havent actually had a loan however i think its the way they work it so it shows you're keeping up with repayments and can boost your score by doing this.