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Student Loan Payment Terms
Due to the recent threshold change it has transpired that I will now have to start paying my pre-1998 mortgage style student loan back. My 25 year loan write off is very imminent (Oct 2022) and I wondered if anyone could advise what will happen when I start paying this loan back - i.e. if it will negate the write off of…
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Family member taken out phone contract in my name and not paid it
Hi all, I've recently received a letter and relentless phone calls from a debt collection agency regarding a fee I knew nothing about. After getting in touch with them via email I was told that it was for a GiffGaff account opened back in 2015 in my name that hasn't been paid since and I am not expected to pay over £100. I…
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MOT fail and car finance
Hi, was wondering if we can get some advice. Our car has just failed its MOT and its going to cost a quite a bit to fix and we also have things that need fixing on the car. we have already spent money on the car getting fixed but its still not right. we still have a small amount of finance to pay which is less than the…
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Student loan repaid... no better off?
I finished repaying my student loan in March. The deductions (Surprisingly!) seamlessly stopped from my payroll and all is good. I, probably wrongly, assumed that once I stopped making these deductions, that I might see an improvement in my overall pay, however the vast majority of the amount I now don’t pay in student…
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To understand loan
Hi guys, Please help me to understand the loan. How much you are borrowing (this is the amount of credit) £17,500.00 The fixed amount you must pay back every month. Your last repayment may be different and we will write to you to let you know what this will be £316.41 How many monthly repayments you will make 60 How much…
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Wonga and DMP - payment returned
I currently have a DMP due to end next month - finally. One debt I had on there was for Wonga - I have since received a refund from them, however Clearscore is showing an outstanding/default debt to them of £53.00. I have updated my DMP to reflect this and the payment has been returned from Wonga on numerous occasions and…
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Multiple purpose loan
Hi everyone I have a couple of questions about taking a loan. First of all, I am considering taking a loan to replace my car - it won't pass the MOT I am sure - and to refurbish the bathroom. Over a 7 years term, with my credit score of 989 (Experian), if I usedcused AAcAA, it could come up payments of about £330/month for…
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Pre 1998 Student Loans - have the SLC/Government changed the 25 year rule?
I began University in 1997 and graduated in 2000. I understood that when I took out the 3 loans then they would be written off after 25 years (so 2024) and that is what MSE website seems to suggest too. However, if you look at the SLC/UK Government website it makes no mention of the 25 year rule for pre 1998 loans and says…
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Will I have to start repaying my doctoral loan before I graduate? And for 37 years, not 30?
I took out a doctoral loan for my master's course which I graduated from last year. I am now working (earning £40-50k per year) so am repaying the loan, however I am also doing a part-time PhD and taking out a loan for this, which is added to the same balance. In theory, repayments should start for the PhD borrowing from…
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Virgin money loan online process
Frustrated as not sure what’s happening! I started a loan application and got all the way to the point of submission for a decision, pressed the button and it appeared to crash, telling me to try again later. I then got an email with loan agreement attached... so presume I have been accepted? However no instructions on how…
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Loan eligibility results... thoughts/advice please!
Soft search eligibility giving guaranteed loan at 9%, or 95% likelihood of acceptance on a couple of others from 2.9% (rate not guaranteed so could be higher).., If I try for the lower rate one and either don’t get accepted, or get offered a poor interest rate, this is going to leave a hard search and potentially mean I…
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Bensons for beds interest free credit question
Can i just grab some advice pleaseWe ordered a bed on the 20th June and left a deposit on a debit card for £368 pound and had the bed on 3 years interest free finance.Delivery was meant to be on the 24th Aug then goto moved to the 28th Aug now moved again to the 5th October.Given the nature of benson and harverys, what…
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Sunny loans administration
Hi there I’m aware of sunny loans going into administration. I had several loans which based on the FCA would more than likely have been classified as unaffordable. Im wondering if I make a complaint ther I can look to have these removed from my credit file? I have no interest in getting the money back since they are in…
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Loan to relative and partner to help buy first house / flat and how to approach any agreements.
I have a relative nephew who is self employed and successful and living with a partner. As a couple they would like me to help them out with a personal loan to buy their first property in an up and coming area of Manchester. I am not mad on the idea but am open to consider it. I am not sure quite how to go about it. How to…
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The money shop claims form
So a good couple of years ago i had a payday off the money shop regularly each month as couldn’t live without renewing some how must of paid back been that long cant remember but a few weeks ago received a letter saying owed money back so signed up to the money shop home portal had nothing to lose now ive received a email…
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APR confusion
Hi everyone, I applied for a £5000 loan this morning for home improvements, and using the legibility calculator on mse I had a 95% chance of a loan from the Bank of Ireland (boi) and a 100% chance of a loan from someone else, but with a 14% Apr rate. Boi was from 4.3%. Naturally I applied for the boi one and it's been…
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Student Loans Maturity Date
Having received a settlement offer from student loans, they have brought up something new. Apparently, the loan is set to "mature" on 28/03/2024. Currently, the loan is deferred due to income being too low to pay it. It suggests that on this date, regardless the whole amount would need to be paid back. This also suggests…
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ex demanding money
I've recently received a letter from my ex (nearly two years now), demanding I pay back a loan he took out 14 years ago to pay some of my debt. He told me at the time not to worry about it and he would sort it. He just asked that I continued paying money into his account to cover the mortgage and household bills. I ended…
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CCJ ADVICE PLEASE
Hi, I took out a payday loan with cash float (Western circle) in 2016 I defaulted and got into trouble with them in NOV 2018 they took me to court and obviously I lost despite my plea to court for help against this ruthless company my defence was “struck out” anyway I was issued with a CCJ and awaited recovery action from…
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Best route?
Hi folks I lost my job in March and have been unemployed since. The company and industry I worked in was a niche market selling a brand name to the uk. They have stopped selling this product which has left a gap in the uk. I want to set up a company but need the initial investment to purchase the product. My issue is we…