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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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DCA
Last year I submitted a complaint to Mercedes on behalf of my friend using the Martin Lewis template for DCA claims in respect of two cars and they acknowledged it ok. However, their response is now that the car finance for these cars was not regulated and therefore they are not subject of any FCA ruling. Even though…
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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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pensioner loan
Hi, need advice..I need to take out a loan for £20,000.00. I am 69 years old, a home owner (No mortgage) Property value £400,000.00 . Am on a gov pension & work part time 2 days per week. What is the best option?
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Student loans 1995-99
I took out I think 4 student loans 1995/96 1996/97 1997/98 1998/99. I have not had any letters or correspondence from any loan companies for a decade, the loans are not marked on any credit files. I am now 50. I hadn’t finished paying loans back and think last payment was c a decade ago - from memory there may be £4k…
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Car Finance Claim
I leased a car in 2016 and I received today a cheque from a car company for compensation for car finance claim, but unfortunately my company now does not exist so I cannot pay the cheque into my account as it is now closed. I phoned the company and basically they cannot reissue the cheque to me even though the address is…
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Moneyway Car Finance - Support During Arrears Claim
Hi All, Out of the blue I received a letter from Moneyway owned by Secure Trust Bank to say that they are currently reviewing the support that they offered to customers during times of arrears as they admit that they may not have supported customers as well as they could. A while back I had a £20k car loan eventually…
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Car finance and mortgage help
Hello, My partner and I are looking to buy our first home and have found the house that we want to buy. We will have around a £250,000 mortgage and were told we could borrow £350,000 in our mortgage in principle. The issue has arisen that the new build will be finished and ready to move in, in March, the same month my…
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Home improvement loan, SMI etc
Bit complicated - sorry. Please bear with! I have a mortgage from a house I bought last year using a substantial loaned deposit from my mum. All done via solicitors. We have a declaration of trust/second charge charge in place and I have agreed to pay her 5% interest (matched to the savings account where her money was…
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Travelled with a friend who hasn't settled expenses
Hi everyone, I travelled with a friend in December to Asia and she has not settled her side of the expenses. She told me when she gets back to London she will be moving house but I don't know her new address - she's been ghosting me ever since. Total amount £350. I have the splitwise app which shows how nuch she needs to…
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How do you overpay a loan to avoid paying the early repayment charge?
For example, Zopa loans let you overpay and it consistently recalculates the monthly payments over a 4 year term every time I suggest I am overpaying online to see the monthly figure change, but as soon as I request an early repayment figure, it auto includes 2 months interest on top....
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Interest free credit - product hasn't arrived - how to proceed?
TL;DR bought a watch as a present on 12 months interest free back in June. It hasn't arrived. Not sure how to proceed? A detailed timeline: * 19th June: Bought a watch, apparently in stock, Paid £145 to the credit company (V12) * 26th June: Became clear it wouldn't be happening (not in stock, no longer in production) - was…
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Loan overpayment help
Hi there, inexperienced borrow here, looking for some help or advice (and please not criticism). In a bit of a bind, I took out a loan with Loans2go at an eye wateringly high level of interest. The loan sum was £1500 over 24 months, with a repayment amount of £4848. It was (and still is) my intention to pay this loan off…
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Northern Rock car loan compensation
I took out a loan with Northern Rock to purchase a car. Loan period 2005 - 2010. Paid in full. Who do I contact regarding potential compensation re hidden commission on this loan? Any help would be appreciated. Thank you
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Repaying Loan off Early - Extra payments Vs Money Transfer
Good morning all, I'm looking for a bit of advice with regards to paying my loan off early, and would also like a double check of my maths to ensure I'm getting this right. Current outstanding loan balance: £8,358 Monthly Repayments left: 33 at £283 (so total left to pay = £9339) Settlement figure today: £8363 (just made…
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Financing a car purchase
This has probably been asked a million times before but I would like to hear some opinions on this. I had to have my 12 year old Astra written off and the insurance gave me around £2k for it's value. I'm looking to buy a family car (nice size) that is around 4-5 years old. Firstly, any recommendations? Secondly, what is…
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Student Loan Process When Moving Abroad
I have a student loan that I am never going to be able to pay back. This is not by choice, I just can't afford to in my current situation at the time of writing this (yes I am working, no I cant afford to live in a place of my own). The interest is going up and it's not stopping. I have a 3 year, long distance partner who…
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Loan or savings to buy car
Hello all, Looking to purchase a new car but don’t know whether to use savings or get a loan. The money is currently in a Santander 123 account which I believe is paying 2% interest. The car/loan amount is £25k. I can get a loan with Nationwide or Santander at 5.9%. I am of the thinking that paying cash would be better…
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Requested A CCA this was my reply, help
We do apologise for the previous communication that may have caused confusion, kindly treat this as a follow up email. The original creditor has sold this debt to us on 2022/06/30, and it is within their legal right to pass this debt to a recovery agency as per your contractual agreement. As per the terms and conditions of…
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Paying off a longer term loan early
Hi, This seems too easy and probably wont work but would love to hear some advice. I'm looking to take out a personal loan with the bank and ideally would like it over 5yrs but my budget is £380p/m £21k over 5yrs is £417, rate is 7.4% fixed. £21k over 8yrs is £288, same rate 7.4% Is there a way of working out how much I'd…
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I need a very short term loan
Hi I need a £1500 very short term loan
to cover some DDs going through on Saturday. £900 is going in
tomorrow and £400 on Monday, which is too late. I have several items
for sale on eBay, amounting to £2000-£3000. A £1500 item has
almost sold. I hope to pay down the loan next week. I have no credit
cards and nearly at…
