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Max Debt Amount

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  • Max Debt Amount

    Hi,
    I just had a question and couldn't find much about it online.
    If you had say a loan of £100 to pay with 10% interest, does this loan ever have a cap (so does interest stop once it reaches say £200) or does leaving it for 50 years will result in it being ridiculously large?
    Thanks for your help.
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  • #2
    on and on = unless of course and which is liable to happen failure to keep up repayments then a company will either take you to court or sell the alledged amount to a debt purchaser for pennies and they chase you! what do you think would a company loan £100 and not seek it returned + interest>

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