Have made a big mistake!! Please help.

[crazydazy]

I had a very large overdraft and had gone £200 over my limit. Daren't tell DP as I honestly couldn't justify how it happened anyway decided to get a loan to clear the overdraft and now have confessed to DP and he has gone absolutely ballistic with me . He is angry because we now have to pay £45 for the next two years because of the high interest on the loan. TBH I didn't really listen to how much it was going to cost in the longrun (am truly hopeless with money) and just wanted to sort my overdraft out. DP has since pointed out that at least the overdraft was interest free!!!!

He is so angry with me and now I think I am going to have to go into the bank on Monday and ask if they will withdraw the loan. DP said he will give me some money to pay into my account so I am not so badly overdrawn.

Do you think the Bank will agree to take the loan back off me?

Have you used any of the money from the loan yet ??

I think you have a certain amount of time to cancel.

www.bbc.co.uk/consumer/guides_to/credit_cancellation.shtml

The above might help

im sure you get time to cancel the loan.please check with your bank asap and check out the site below.check any paperwork you have relating to the loan.shold have it in the small print how many days you have so you can cancel it etc.i dont think anywhere is allowed to lend you money without giving you a certain amount of time to change your mind.
good luck

Thanks everyone for your advice. I am so very relieved....we are due to get married next year and I seriously think that DP will call it off. Right I am going to check this website out and then tell him.

Thanks again guys.....

I went into the website and it made reference to hire purchase credit. I am assuming that it will be the same for a loan from a Bank? They all work in the same way don't they?

God I sound so thick don't I

Nutcracker - yes have used some of it as I made a couple of purchases but only about £30 so I am going to offer to pay £100 into my account to start to pay the overdraft off iyswim?

And learn a bit about money. I don't think any women ever in the UK in 2006 should be able to say "I am hopeless with money". A good chance now for you to learn all about it etc.