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Black Horse Ltd - Can they do this? URGENT HELP REQUIRED
My dad bought a car around 3 years ago through Black Horse. As with any car finance agreement, I told him that he could send the car back to them after he has paid half of the balance. He then phoned Black Horse, they told him that he cannot do that as it is a personal loan agreement, not car finance. He accepted this and…
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Calculating apr
I remember something about this from my school lessons, but can sombody tell me what the calculation is for APR? I think it involves Principle (amount), Time (in months) and Rate (flat rate interest). Or am I talking nonsense? WM
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bridging loans
I've recently had the buyers of my house here in the UK pull out of the purchase. The proceeds of the sale were going to fund my purchase of a property in Portugal. As a consequence i need to raise the funds on a short term basis before a new buyer for the UK house can be found. I've heard of open and closed bridging…
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How easy is it to cancel plpp
I have just taken out a loan through my bank to consolidate some credit card debts. When the form came through it had the payment protection automatically added with no obvious way of opting out. What I want to know is how easy is it to cancel this protection (it's over £70 per month and I'm sure I can get it cheaper from…
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Flat Rate Fool
Hi, I wish I'd visited this site before buying my used car yesterday. Basically I feel conned by the car salesman as I asked him what the finance rates were and he said 5.8%. This is of course is the flat rate (I am now a flat rate fool!). I was told that they can usually better rates offered by banks etc. etc. turns out…
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PCP - Early Termination question.
Hi, my wife currently has a PCP with Mercedes Finance for a 51 plate A - Class which this October we will give back after the 3 years are up. The PCP has a guaranteed value of £5,100 at the end of the contract but the car will not be worth that come October as it is loosing 100 pm and its book price is already below…
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Promise finance - anyone heard of them?
Hi, hubby has gone to yet another loan company - first plus , who then referred us to Promise finance , second phone call today , saying they could help us out by ledning us 25,000 ( that is total amount owing on numerous credit cards) and then they would pay off all our credit cards debts, but we only(!) want to borrow…
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Unsecured loans for poor credit people
Hi, On November 18th 2003 I went bankrupt for various reasons. I was discharged on April 1st 2005. Since being discharged, I have not had any loans or credit cards. We bought our first house together (I married my wife in March 2005) on Feb 2006, so our only debt is a mortgage that we have been paying on time since…
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Is a LPI the same as a PPI ? Please help
Please help, I haven't a clue about loans and I need advice on what to do, thank you. My 18 year old son has come up to me today with his loan details that he took out on his own. (I thought he'd been saving for the last few years, but it turned out that he'd been spending his savings :( ) He has got a loan out from…
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A bit of a shock!
Hello. I've got a bit of a worrying situation - I took out a loan with First National Bank years ago for double glazing (approx. £4k). I got into some financial difficulty and couldn't afford to pay it back, so I asked to go onto a reduced payment plan (I had a few other debts, which I have also gone onto reduced payment…
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Admin charges on unsecured loans
Hi, im looking for some advice. I have quite a poor credit rating and need to consolidate my debts into easier payments. I did a google search and found 'yes' loans. They have accepted my loan and the repayments dont seem too bad, but they said i will need to send a payment of 49.00 back with my signed agreement, im just…
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unsecured loan/ self employed
I need an unsecured loan for around £4000, My circumstances are as follows: I am a home owner but don’t want a secured loan I already have a joint secured loan on my home, but still have about 20% equity I am self employed with no proof of income but earn around £26000 per anum I have had 1 ccj and 2 defaults three years…
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Advice choosing a loan...
Hi people. I've made a similar post in the credit card forum because as yet I'm unsure as to which method of borrowing I intend to use. I need to borrow between 3 and 5 thousand in the next month (probably sooner rather than later though) and expect to be able to have it paid off soon. Really a short term loan. I know…
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6 months interest free credit
I have caughtup in the 6months interest free credit option. I thought I have paid the money within the interest free period by sending a cheque. 2 months later i had a letter from the finance company stating that they couldn't get any money from the bank and that I have been charged further £25, when I inquired about the…
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Need cash injection
Hello! I require a cash injection to get my home project up and running again, but as I've worked on it for almost 2 years - and not earned I cannot get a 'conventional' mortgage - no salary! The property is worth £300k as it stands and I need some £60k to finish it when it will be worth c.£475k. Where would I best go to…
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Does anyone know about cash reserve loan?
I have heard about loans where you can get approval for a certain amount of money and not have to take it all at once! You only pay interest on what you have taken. Does anyone know about this type of loan if so where do I go to apply. The reason I ask is my daughter has been given the opportunity to go to the Royal Ballet…
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Northern Rock
Just applied for a loan with Northern Rock and the quoted 5.7% is not available. They get you filling in forms, press you for their insurance (which I refused) and on acceptance their rate went up to 8.9% - apparently they have their own internal method of working out your credit score. I am lucky enough to have an…
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Bank not handling loan properly
Here's the story.. between 2002 and 2004 my Father had a Car Loan - £7200. In 2004 he traded it in for another, and took a loan out which consolidated the original loan and the new one - £11500 (£5000 remaining from original + £6500 new) The Bank said this new loan would pay the balance of the old one, which one would…
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Missed HSBC credit card payment by 4 days now
I should have funds in my account to pay it tomorrow. Does anyone know if this is a 'black mark' against my credit record (almost certainly yes for hsbc credit scoring) Do they share this data with, say, barclaycard or marbles? Do these organisations share data like that?
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Loan "Fully paid and closed" - then they demand more money!
Hi, I took a loan out in February with a High Street lender who was offering the most competitive interest rates at the time. I applied for £5000 and took their same day transfer service at a cost of £35. In March I unexpectedly found that I was able to repay the loan. I rang for a redemption figure on 22nd, and was…
