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Loans

Archives for June 2016

Advice on making a settlement with debt agencies
Hi, In the past I got into some credit card debt and after some tooing and froing I agreed to pay a fixed amount to each through what was CCCS at the time. Over a few years the various companies have either merged or bought my debt so that I am down to 5 payments to 4 companies including Robinson Way, Cabot, Marlin and…
Student Loan - Drop in Interest to Balance
Hello, I have a post-1998 pre-2012 student loan with a fixed interest rate of 0.9%. I am now coming to the end of a PhD program conducted in the USA and have thus not paid any of the amount off so far. It has therefore gradually been increasing over the years since I graduated in 2011. I recently received my annual…
Business Loans for Beginners
Hi - I don't really know where to start with this one, or if it would even be a possibility, so any advice / opinions would be appreciated. My husband is in a trade and a family member has a business which he helped build up a few years ago but he now works for someone else (same trade). Anyway family members business is…
MSE News: Student loans petition given the go-ahead for parliamentary debate
A petition calling for the end of retrospective changes to the student loans agreement has sparked a Westminster debate...Read the full story: 'Student loans petition given the go-ahead for parliamentary debate' Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all…
Land Loan
My partner and I want to borrow £15,000 to purchase a piece of land which will eventually be used to build on. However, this will be in several years and we are not in a position to get a self-build mortgage at this point as we will both be changing jobs come September/October which makes getting a mortgage impossible. We…
Help - I can't conact finance provider
Hi all I purchased a bike from Wiggle about 15 months ago on 0% finance under an agreemenet with a provider called "V12 Retail Finance". I'm in the process of changing bank accounts (manually) and wish to give my new payment details to this company so they can continue collecting direct debits. I've phoned their number…
Made redundant - can't pay car finance.
Hi, the company I worked for went bust in February and I have struggled to find a job since, I have been paying the finance on my car through savings etc but it's all dried up and I can't pay it. I have made 6 months worth of payments on the car of a 48 month agreement. I have read various conflicting opinions/advice and I…
MSE News: Student loans repayment threshold discussed in Parliament – but petition co
Loan settlement future prediction
Hello, I've just paid off my car, and had a settlement on the missus. By getting a loan, we have managed to save around £2,500 by paying the car off early based on the rate I had, and in a few months will be good to do that to the 2nd car, thus trying to bring the payments down from £600p/m to around £550p/m (currently,…
Bring your own car PCP loan
Hello I have recently been looking into PCP deals on used cars from main dealers and the interest rates are ridiculous - for example bmw want 10.9%! The total cost of credit is £4233 on £15350 loan. This is based on £223pm for 36 months with a final payment of £11761. I have had the idea of taking advantage of a low…
Poor Credit Score - Need a Loan- Help
Hi MSE community! So I basically need a loan to clear old existing bad debts but the problem is I have a 403 credit score due to a credit card I defaulted approx 2 years ago. My debts are well managed (I pay them) currently due to me receiving a nice consistent income which had been happening for 14months + now and is at a…
Old HBOS loan
I took out a loan with HBOS in 2011, it was 2 year term and the term ended in my opinion in June 2013. June came and I made the last payment but HBOS insisted it ended in October 2013 and after many letters and threats with debt collectors and all sorts I paid them 4 more payments in one lump sum and thought nothing more…
Student loan interest when income drops
My wife has recently stopped earning (made redundant before maternity leave, then decided not to return to employment, and stay home to look after our son). We have informed SLC that she is no longer earning, so will not be repaying her loan for the foreseeable future. However, all information surrounding what happens when…
APR negotiation
I have just been approved for a personal loan, and I'm awaiting the paperwork required to complete the formalities. The APR advertised was 3.4%, but my offer came in at 10.9%. I'm not all that surprised that the reality was different from the advertised rate, but i wondered if lenders have been known to be open to…
Post Graduate Loan Help
Hello, I wonder if you can help me please. I will be studying a part-time MSc this September for one day a week, I will still need to work 4 days a week. I have been considering taking a post-graduate loan in order to do this, what with the recent referendum I have a few questions. I have been saving for a depost using the…
Provident loan
My partner was given a provident loan even though he had no income the agent put on his form that he was in employment and happily handed over £800 pounds.would this come under irresponsible lending? Any advice please
Info about student Loan
I was checking my repayments and just started wondering what percentage I am paying through paye. I am a bit confused on how this works. According to the student loan website http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678642&_dad=portal&_schema=PORTAL I fall under the plan 1 category(because my course…
New car finance before old car sold
I have a car on PCP at the moment, and would like to replace it with another one of similar value. I'm only a few months into a 3 year agreement currently although I'm in positive equity. I haven't decided if I'll sell privately or trade-in yet. If I ask a dealership for a new PCP for a new car... Can they put a note on…
Sunny loan help
Hi I'm looking for some help regarding a sunny loan that my wife took out two weeks ago. My wife applied and was accepted for two hundred pounds online but she made a mistake with her account number, one of the buttons stuck and duplicated a number, so the money never made it into her account. She phoned sunny who told her…
Quick, short term, small loan.
What is the cheapest way to quickly (next 48 hours) borrow a small amount (£500) that would be repaid in full after one week? Thanks.

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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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