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Secured Loan early repayment jargon
I've enquired about a secured loan to get me out of immediate struggles. I will, hopefully be paying it off before the end of it's term. The paperwork has just arrived and in the section for early repay it states that "The amount payable per £100 of the Amount of Credit if the Borrower chooses to repay early is : After 45…
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Would this be a missold loan?
Hi! My first thread. I think I may have been given bad advice and taken up a secured loan which I have been struggling to pay for a long time. Please help! In November 2006 I took out a secured loan for £20000 to pay off credit cards. The loan is through GE Money. I have just found evidence in my files (OK, bad filing…
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Help! Loan Expired, Lender Recalling Loan!
I have an interest only loan secured against 2 commercial properties which produce a good income. The loan has expired but the bank didn't give me written notice before or are the time it expired and have been very underhand and unprofessional in their conduct. They are now saying that they want the borrowing repaid in…
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Credit report advice - default accounts
Hi all I was hoping someone could offer me some advice regarding my husband’s credit report and suggest if there is anything we can do in relation to an entry on there from Tesco Bank. My husband look out a loan with Tesco in early 2004 and by the end of 2004 was in financial difficulty will all his creditors. As a result…
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Default by Payday UK
Hi all. This is my first post but i have been lurking for over 4 years!!! So yes, it has taken me a while to build up courage to post. I wanted to ask someone about a loan I took with Payday Uk about a year ago. I couldnt meet the requirements of the loan and failed to pay a single penny on the account due to some severe…
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help please!! Mini credit
Okay so i've had a few payday loans and am on track to sorting them all out myself. Although obviously as i've come to find Mini credit are not very helpful! I've sent them an email or two and just keep getting the same automated messages back saying they are not interested in payment plans etc. Here's the main problem…
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partnership loan wanting out, advice please
hi everyone, my first post in this section of the forums so please be gentle!!! i'm just wanting a bit of advice i am a GP, I along with 6 of my partners invested in rennovating a property and converting it to a conference centre. We took out a loan of £850000 for purchase and cost of renoovations. All the loan has been…
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Pension Backed Loans.
I am looking for some advice regarding this company Pension Backed Loans (PBL) I had heard that you could unlock some of the value of your pension early if you were under the age of 55. I am 29 and currently have a pension of around £21000 and was looking to get some money by using it as security. I have really bad credit…
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Rejected a loan.. more detail contained within!
Hi there, I have recently passed the six years in which a bad debt was added to my account. I have had not one single bad thing in my credit hisory and as such on Friday last week my credit rating became 921... I was thrilled to say the least as I've been battling with debt for 10 years. I owe £196 to Very.co.uk (£2000…
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The UK APR formula explained
Is there anyone out there with the skill and patience to write out the UK APR formula and explain it for a five year old? I say this because I'm reasonably intellegent but I just don't understand it largely because no-one has bothered to expaain all the terms. For example I see the term (1+R/100). I fully understand you…
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APR on Flexible loan
Good morning, I am new on here and am after some advise please. I had a national window company come and see me for a quote on new windows and doors and am interested in going ahead. They offer finance through Hitachi and I receive a discount for using their finance which I don't get for paying cash (The sales person…
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FLM - Are their actions legal?
Hi, Looking for some advice please. A friend of mine took out a loan with FLM with her Mother as Guarantor. All payments fine until December when she couldn't pay the full amount. She tried to speak with them but got nowhere. She cancelled her bank card (debit) but they managed to take the funds (in instalments) and when…
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Loan Advice
My dad died on Sunday and although he was very good at having financial details clear - what goes out and in, when etc, one thing I am not sure about. He had a small loan of about £3000 in his name. It wasn't secures against the property and my mum's name's not on it. She will be struggling financially as she'll only get…
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Joint Loan v Guarantor Loan
Hi there Please could you advise what the difference is between a joint loan and a guarantor loan? Also, does a guarantor loan also mean that you are financially associated with that person? Thanks so much for your help. Lolly0117 x
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Overdraft vs. Loan
Hi all, I am currently £3,000 overdrawn per month, at an EAR of 19.89%. Would it be cheaper for me to take out a personal loan to pay off the overdraft then pay the max loan repayments per month? I am currently paying between £35-£40 per month in interest on my arranged overdraft. Thanks!
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Cooling off period - changed mind
Hi I am looking for some urgent advice please ..... Just over a week ago I took out a loan for a new car with Black Horse finance. The APR of 11.3% was significantly higher than I believed I could get elsewhere but I was informed of the 15 day cooling off period so I went ahead with the loan. I subsequently called Black…
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I'm stuck n that nasty loop
Evening all Not going to make up any excuses for the hole I've got myself in. Basically I have payday loans with pduk quickquid and wonga. I always said I wouldn't be one of those people. But greed and certain circumstances after that have got me stuck. I'm not at the point where what I have borrowed is more than my wage…
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Self employed personal loan
Hi, Just looking for some advise; I am looking to apply for a personal loan as I have some unexpected expenses coming up :-( I want to apply for £10,000. I run my own company so I guess I am classed as self employed, I have a good income and own my own home. I was looking at my credit files to see how they looked as I was…
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Please Help
Hello.. This is my first post so please be easy on me.. So im 23 years old and in December 2011 i completed my protected scottish Trustdeed. Yeah 23 and finnished a trust deed. I got into 20k of debt by the time i was 19. credit was just flung at me from everywhere. 5k limits on credit cards. Needless to say i couldnt pay…
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welcom finance, should I?
I've got a loan application through for Welcome finance. £100 over 12 months @ £93.59 with an upfront fee of £69.95. My question is are they trustworthy and is this all I'm going to pay? Will I definitely be accepted? Has anyone got any pearls of wisdom here? Got myself in a rut with payday loans and just want to sort…
