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Loans

Archives for December 2014

Account statements - CCA 1974 refunds
All, I have received a letter regarding a finance package I took out not to long ago which has been paid off stating that they owe me money due to statements not being sent on time: "we were obliged to provide you with account statements under the consumer credit act 1974, unfortunately we recently discovered that a number…
HSBC Loan Refunds due to lack of transparency on lump repayments
Hi All I've just received a very interesting letter from HSBC concerning the longer running of my two loans saying a sizable refund is due because the annual statements omitting the option/right on partial repayments. This refund is interest to date, and is a great windfall. I just called HSBC and pointed out I had two…
First Direct personal Loan Interest refund, dont understand, advice please
Hi I have just received a letter from First Direct who is the bank I use for everything, it says:- Important information about your Personal Loan We recently reviewed our Personal Loan annual statement and found it didn't include important information reminding you about your right to make partial prepayments of you loan…
Help with juggling finance and sorting loan
Hi everyone, I currently have credit card debt of £15,500. I used to juggle between 0% but a new engine in my race car last year after it blew before final meant I loaded card to a point they couldn't switch around due to varying limits on the 3 cards. I've now sold the 2nd car and have cash to clear all my debt but want…
Settling a £30k debt with Sainsbury's
Hello, I have searched around but cannot find the exact advice I am looking for. I have a loan for 25k from Sainsburys, unfortunately soon after taking out the loan, I lost my job and have never found a role that has been permanent, or paid above minimum wage since. As a result I have been paying a reduced amount every…
Nationwide personal loan. Claiming back interest
My wife and I had got into quite a bit of debt a few years ago and decided to take the bull by the horns and take out a personal loan to pay off these debts and then cut up our credit cards etc. We took out a £24,000 personal loan with the Nationwide on the 02/08/2011 and we now owe just over £10,000 on it and apart from…
Is is realistic to get 15,000 joint personal loan?
Hello everyone, Me and my wife are looking for opportunities to take out a joint personal loan of £15,000 to pay back over 60 months. Purpose of loan: new high configuration animation hardware+educational course (motion graphics and animation) for wife. We both work full time as well as develop our own business in evenings…
Loan Settlement Fee
I'm looking to pay off my loan today in full and online banking has provided me with the current breakdown. Current loan: £16,216.12 Interest accrued: £119.67 Early settlement fee: £211.18 Total loan settlement: £16,546.97 If I was to pay off 16,200.12 and leave £16 on the account would the final direct debit but just for…
Loan advice needed
Thanks to people who have responded. I have made a decision so no longer need advice.
student loans-which scheme do you pay first?
I completed my first undergraduate degree in 2007 (scheme 1) and I am currently paying back my student loan through paye. Next September I am going to start a teacher training course and will require another student loan (scheme 2) to cover tuition fees. When I eventually get a job does anyone know what happens to my…
Voluntary Termination Cashback?!!
Hi there I took out a HP contract with Mitsubishi Shogan Finance and paid a set amount each month for 3 years and then I paid off the final balloon payment at the end of the contract, as I wanted to keep the car. I paid that off over a year ago and received aetter saying that the finance was fully paid off and the car was…
Reclaim fees for written off Wonga Loans - customer wins case
http://www.bbc.co.uk/news/business-30538162
PPI Car Loan
Afternoon All I hope i am in the right place. Happy Christmas to all I am after some help with a car loan we took out in 2003 with a garage and the finance was with GE money / capital. At the time we made 30 payments of £397 to finance our car. We are at abit of a dead end and in all honesty don't know what to do. All we…
Interest Free Loan, a good idea?
Brief background Info. I am 21, male, Living in London and studying a degree at home. I have a part time job and I earn roughly 800 a month of which I save 500 each month. I have zero expenses apart from Gym (£15/per month) and Petrol which is roughly £100 a month. I currently have £7000 saved. I own a car which I can sell…
Martin Lewis Loans
Why doesn't Martin Lewis provide loans, since he has sold the website he has money in the bank. He'd be hailed as the Robin Hood of this generation.
Mis sold loan as a guarantor ??
My Mother - in - law was mis sold a loan through a double glazing company to pay for her daughters windows , basically the salesman at the point of sale told her that the first payment would have to go through her bank account because her daughter could not get credit and any payments after that were to be made in cash…
Tesco Bank loan.. early interest payments?
hi I took out a loan of £12000 with Tesco bank, plus interest it totalled to £15000 payable over 60 months. To date I have paying it off for 19 months at £250 per month, totalling £4750. When I called for a settlement figure, they advised that i still had £10.250 outstanding on the loan and I would need to repay that…
Natwest Loan - agreed in principle
Hi All This is the first time I have posted here, and after some advice? I have applied for a NatWest loan for £7000 and it says it has been AIP. the paperwork will be sent through the post, I received an email off them saying welcome to NatWest loan, we are here to help etc... Now..I have poor credit with Experian - 609.…
Secured loan against home.
Hi, Please help if possible Should the spouse living in the house have been made aware of a secured loan on their home? Their spouse signed for the loan. Many thanks
Debt Consolidation the Answer??
Hi All, Can anyone advise on whether a debt consolidation loan would be a good option for me? My current debt is; £500 credit card @ 39.94% APR £900 credit card @ 39.94% APR £700 credit card @ 28.95% p.a (variable) £307 payday loan @ 1,221.96% APR fixed Ideally I'd like to squeeze all of the above into one place with loan…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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