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A few years ago I received a phone call from HFC bank. I had bought a computer on hp and the 6mths interest free credit had run out. HFC were offering me a loan to pay off the computer and also pay off my credit card. They asked me to come into the branch for a meeting. Very bewildered I went in the next day. I went in taking with me payslips from the last 6mths. At the time I was working two part-time jobs. They accepted me for a loan for £1500, a loan that they gave me a cash-card, and a cheque book!? It was too easy. They also encouraged me to take out a 5yr life insurance policy. Then they hit me with it, after everything was signed I found out that the interest rate I was paying was 27.9% !! What!! I had that loan for a couple of years not strong willed enough to not take money out anytime it was someones birthday or I was going on holiday. The interest I paid ate up my monthly payments and at the time I couldn't afford to pay off any more. The best thing feeling was when I paid off the last of my loan and I asked them to close the account. "We could keep it open for you, you might want to use it again" they told me, in the two years I had that loan I had given them almost £1000 in interest, and they were not getting a penny more out of me!