Had been that loan affordable simply because you been able to repay it?
No! If spending a loan kept you therefore broke you had to borrow again вЂ“ through the lender that is same a different one вЂ“ it absolutely was unaffordable!
The regulator claims:
вЂњthe debtor will be able to result in the needed repayments without undue difficulty, whilst continuing to satisfy other financial obligation payment responsibilities and reasonable regular outgoings.вЂќ