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🎓 Got a student loan question? Head to our Student MoneySaving board
For discussion of everything to do with student loans and student finance, please head to our Student MoneySaving board.
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New to the Loans board? Start here
Useful links within the forum * Credit File & Rating board * Debt-Free Wannabe board Useful links to MoneySavingExpert.com guides * Cheap Personal Loans * Loans Eligibility Calculator * Cut Existing Loan Costs * Cheap Car Loans * Short-term and payday loans * Should I get a loan if I have a bad credit score? * Bridging…
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Loans - Important links - please read
Hi folks :) This is the new Loans Board Sticky where links to all current important threads will be kept. Links: This thread is for quick links to threads in this board. IMPORTANT - Problems with debts, payday loans etc? Payday Loan Survival Guide from Govan Law Centre Lending money to friends & family Cheap Credit Card…
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Can I really save £2K by taking out car finance & cancelling tomorrow?
Hi all I am buying a brand new car from a dealership if a well known, huge European Car Brand. Basically, I was going to buy a car year old for over £50K. The dealer man said to me “You can have this brand spanking new one for the same price if you take out the finance”. I said “I don’t want finance. I want to pay cash”.…
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Risk another loan?
I applied for a £25k loan to buy a car as it was cheaper than the finance from the car dealership (loan rate 6.2% Tesco). They text to say it had been accepted but the rate on the letter than has come through is 8.7%. The letter says they will do some final checks once they get back the paperwork. Do I risk applying for…
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Big Motoring World £750 EV offer
Hi All I purchased an EV from Big Motoring World with PCP finance to take advantage of the £750 offer they have. T&C here https://www.bigmotoringworld.co.uk/news/make-the-jump-and-go-electric-with-this-limited-time-offer/ I'm happy with the car, but only took the finance to get the discount. This was a few days ago so I'm…
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Car finance cooling off period
Hi all, I took car (PCP) finance through a broker, the garage on day of collection said car faulty electrics and unable to release car as couldn't solve issue and said best look for something else, so I informed my broker and finance provider which is now 12 days ago I wish to cancel during 14 day cooling of period, they…
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Apple / Barclays loan
Hi - I recently applied for the interest free loan for a new iPhone on the Barclays / Apple offer but was declined, I have a good credit rating, no debts, or missed payments. I have been in same job and lived in same property for last 6 years so I don’t know why I was declined. I spoke to both Barclays and Experian to see…
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Welcome Finance charge on property
Hi all, looking for advice on how to remove a charge on my property from a Welcome Finance loan. The loan was fully repaid over 12 years ago, unfortunately, I have lost any documents to confirm this. Have tried contacting administrator, they put me on to a random finance house in Luxembourg who failed to engage at all.…
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Best rate
I have one credit card and 1 loan total £40.000. They cost me £1,191 per month. Would I be better trying to pay off with a lower rate loan?
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Loan to 0% credit card transfer
I'm currently paying £170a month on a personal loan the loan ends I 12 months. I would like to transfer it to a 0% credit card over 24 or 36 months to reduce my monthly payments, can this be done?
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Stuck in Caravan sale! Pls help!
So my mum bought a caravan, 39k brand spanker.. without liaising with any of my siblings or me. Now, shes locked in a 67k loan for the caravan. Id like to get your advice on how I can make it pay for itsself and get it set up on her behalf. Not looking to make a profit more just to get her out of the !!!!!! hole shes dug…
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DMP and credit union
Hi all Im just starting out my self managed DMP journey. I stopped paying for all credit 3 months ago 3 loans I credit card. I didn’t realise my one loan was a credit union? My community finance? I’ve been getting letters about it defaulting and then a formal notice. Nothing on credit file yet. Am I wrong in thinking I…
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Moved: Student Finance Appeal for Second HND – Cybersecurity vs Songwriting
This discussion has been moved.
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Pay back or get new loan
We took out a loan of 25k back in may for some house repairs. Over 5 years paying back £525 a month. The APR is 9.9%. We are now in a position to pay back around 10k of this. Question is do we pay back 10k and continue with the loan, or once paid off the 10k, take out a new loan for the remainder, which will drop the APR…
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Boiler via finance not installed properly
I had a boiler installed 2 years ago by a company that has now gone into administration. I have recently started having issues with water hammer which I am advised would be sorted by having a limescale remover and a mini expansion vessel fitted. The documentation I had from the boiler installers indicated that these were…
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Loans for people over 75
How can you obtain a loan when you have reached the age of 75 have no mortgage but own your own home but do not have any spare money to pay for a new roof on your house?
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Loan to family member and repayment
Not sure if this is the right board, please move it, if not. If I make a personal loan to a close family member and they make repayments of between say £500-£1000 a month into my bank account, does this have any implications for me? Is there a better way to do it? Repayment period circa 24 months.
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Black horse commission claim
Hi everyone, im after a bit of info to see if anyone else’s is having the same thing happen. Last feb/march time I emailed black horse using the template with as much info as I had. I got an automated email almost straight away. Since then I’ve had a monthly email saying the same thing. Along the lines of “we have your…
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Extortionate interest
I’ve got a personal loan with Transave at12.9%apr and the current balance is around 12k. I’ve just had a look at my transactions. I’m paying back £53 a week but £30 a week is being gobbled up by interest! Surely this can’t be right? I will be paying this back for the rest of my life if only roughly £23 a week is paying…
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Borrow more to cut interest rate and repayments, but extend the term?
Just under 2 years ago, I applied and got my first ever loan for £13.5k from NatWest, at 11.9%. After making consistent repayments(And managing a credit card as sensibly as possible) my credit rating has risen, the remaining balance is £9.5k and now NatWest are sending me adverts asking if I want to borrow more. I've had…
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Klarna fraud still "investigating" and refusing to sign for letters
Earlier this year someone at Royal Mail was intercepting my post, which included my personal details. Royal Mail has admitted to this breach. There were several attempts to apply for credit cards in my name which were thankfully denied. I only found out because one of the letters for the fraudulent credit card application…
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I have a new car but weeks later dealer says I have no finance
As the title suggests, just over 3 weeks ago I bought a new car and part exchanged my old one as part of the deal. I used some of the value of the p/x as a deposit for the PCP deal and was due thousands back in cash back. I haven’t received the cashback for my p/x so have been chasing this with the dealership. After weeks…
