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Loans

Archives for August 2016

Loan overpayment query
Hi, I have 4 years left on a 7 year 15k loan 8.9%apr. I have been overypaying in odd amounts since the loan was took out and now am in a better financial position I am aiming to try and overpay more each month. My question is if I overpay £130 it knocks one months payment off and saves say £69 interest (online it tells me…
advice about a loan from ex in laws
Hi I found out that I had a ccj against me this month and managed to get it set aside for non service, the court has given me until 12th Sept to file a defense. The only information I have is that my ex in laws submitted an online claim form stating that I owe them £3850 for a loan. No other information provided. The only…
Loan negative balance
I had a persona loan with Lloyds and have recently ( a few days ago ) made the last payment to pay it off early as it was my last month anyway so I paid the final balance £247, but today it has taken out another £247 automatically so it shows -£247, I assume this will automatically be given back to me or will I need to…
Ao vs Paypal Credit
Hey guys, I am thinking of buying a tv on finance through Ao's finance or Paypal credit. The TV is £800 If I buy it from Ao's its a set monthly payment of £40 for 24 months (20% apr) so it ends up being £940 But if I buy it from paypal credit they is not a set monthly payment in plan. The APR is 17.9% so how much would I…
Help needed for loan application
Firstly can I say that I wasn't sure where to post this so I have put it on 2 forums so forgive me if you see this twice. My mortgage term with the Halifax is coming to an end in October. We at first thought about moving but decided to stay put. I have just been accepted for a new mortgage for 150k with another society,…
car finance payment device
so had a car for 30 months of a 36 month agreement with a payment reminder device fitted . The company turned off my car with no prior warning the other day as I was 7 days late paying . quick legal question as this is finance and I have paid more than 2 thirds of it , can they legally turn the car off without a court…
Loan vs Debt
Hi, Just looking for some advice please. For various reasons of which I wont go into the detail on, I have needed to use an overdraft and build up some credit card debt most when my wife was unable to work. I am now paying interest on both. The overdraft is £3k and the CC is £2k so totals £5k give or take. The interest…
Am I being asked to repay too much for my Amigo loan?
Hello and thanks for reading this..... I have a guarantor loan with Amigo Loans. The loan was paid out on 1/2/12 for £55000 (£5k loan plus £500 brokerage fee). I was happy with the monthly repayment of £217.39. I was asked for my pay date, and a DD was set up to collect this from 21/3, and the 21st of every month ongoing.…
Reporting a loan by deception
Hi A former friend of mine managed to get approved for a loan by applying online and lying about his income. He was and still is unemployed but was approved for a 5000 pound loan. I know he has done this on at least one other occasion. Should I report this to the police or directly to the bank?
Actual Loan Rates
Hello All I am doing some research into personal loan rates. I can see all the headline rates for the various loan sizes but I'm trying to find out what % of applicants actually end up with actual personal loans at these rates. Conversely, has anyone any accurate data on personal loan rates achieved over, let's say, the…
Replacing original loan documents
Hello all, A quick query.... ...would love some advice! I have recently moved property and in transit managed to misplace documentation relating to a fixed-term loan taken out with Co-operative Bank back in 2010, which I am still re-paying. Upon approaching my new local Co-op branch to change my address, I simultaneously…
Receiving Money
Hi, I am getting a loan and want to know when I have to take the money? I don't want to get the money and start re-payments too early - is it possible for the company to agree the loan and then have the money and pay back at an agreed date in the future, probably 2 months later? Never had a loan before so not sure how it…
Bank loan disappeared from credit score
Hey peeps....new here and first post YAY ME!!! Basically years ago i had alot of debt, got into a IVA and paid into that for 3 years until they decided to double the price of my monthly payments. I refused to pay and soon after my IVA defaulted. Most of my debtera got in touch and was either able to pay them off or set up…
Car part exchange dealer wants more money!
Hi I'm not sure if this is correct section sorry! New poster! I'm a bit angry and annoyed as I recently did a long distance car part exchange for my wife! I went for an approved used car from Land Rover dealership! The deal was done on the phone as it was 100 miles away and the salesman agreed to deliver and collect part…
Need help - first time loaner!
Ok, So I'm a recently university grad, who has just started work at IKEA, I do 34 hours a week at £16,619 Gross income per year. If I do overtime to top it up to 40 hours a week which is 99% possible but not contractual it bumps it up to around £19.5k. I'm looking to borrow a loan of around 5000 split over 48 months, which…
Old Loan But Not Any More ...
Hello Everyone, Right going back about 15 years ago i took a loan out with Lombard Direct and the fell behind with payment so it got past on to a collection company which we agreed a payment plan and from then met all dates on time, then it got past on to another company, then another company and it's just changed again…
Erudio student loans claiming arrears
Hi guys, Need some advice about Erudio Student loans. I am resident in Spain and have been since I left Uni in 2000. I have always deferred my loan no problem as I don´t earn enough to pay it back. In march 2014 I got a letter saying that my loan had been bought by Erudio and that I would receive in due course my deferment…
Chances of getting another loan
Hi everybody, I took out a £5000 loan at the beginning of 2014. I have got a bit of money saved up and I am going to settle the loan but I wanted to take out another £5000 loan. I rang Sainsburys bank today and they said it would be £1840 to settle the loan early. If I settle this loan do I need to wait a few months and…
LOAN - HELP (outrageous APR rating/personalised)
Hello all, So some of you may already know, as I've already posted several related questions, I am looking for a loan for necessary home/property repairs. My flat is owned by myself (no mortgage), in the value of around £110,000, and it's a part of a management company (I own 4% of the building, sharing the same proportion…
Nationwide Loan Early Settlement
Good Evening, I got a 8k loan out with nationwide last April. It was a 3 year loan 8%. I have been overpaying my loan every month to clear it as I have found myself in a better paid job. I currently have 560 left and the monthly DD is 250. I want to clear it this month. What is the best way of clearing this. Shall I…

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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
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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
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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
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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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Loans

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