Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Virgin Money - TPA for Personal Loans
Old 12-28-2008, 06:48 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,075
Virgin Money - TPA for Personal Loans

In these times, it is not uncommon for people to get a request for a personal loan.

It looks like you have the option for Third-party Administration of the loan.

Virgin Money is a TPA for servicing personal loans. There are fees for tiered levels of administration and service.

It looks like the will TPA a retirement mortgage between family members also... could be a reverse mortgage.

Welcome to Virgin Money

However, unless there is a credit problem... I would think the family member would be able to borrow directly from a Mortgage lender. I suppose it puts someone else in the position of collecting. But if the family member was having problems, they would probably ask to have the loan forgiven.

I am not seeing the advantage of using the service.

chinaco is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-28-2008, 10:01 AM   #2
Recycles dryer sheets
SteveL's Avatar
Join Date: Aug 2005
Posts: 380
I used to do a lot of volunteer work for the SBA. Some folks would come in to get a business started with a loan from a relative. Generally, I would ask to talk to the relative, to make sure they understood the risk, and to suggest that they put the loan on a business like basis, with prom. note, UCC filing etc. Virgin Money might make this easier.

SteveL is offline   Reply With Quote
Old 12-28-2008, 04:36 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
Join Date: Mar 2007
Posts: 8,490
My step daughter came looking for a handout loan. I sent her to Virgin, though she seems to have ended up with some other debt consolidator. I think the advantage is that it enables people to get an unsecured loan from suckers friends, yet have the formality of a written agreement.
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Student Loans haha FIRE and Money 12 05-13-2008 04:55 PM
401k Loans rogerc1944 FIRE and Money 13 02-17-2007 02:12 PM
Personal Umbrella versus Personal Excess Liability policies ? Linney FIRE and Money 25 11-28-2006 07:06 PM
TPA kickback scandal mickeyd FIRE and Money 3 10-30-2006 07:44 PM


All times are GMT -6. The time now is 07:23 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.