-
Consolidating Debt - New Overdraft Charges
Recently I've been stung badly by the introduction of Lloyds Banks new planned overdraft charges - 1p for every £7 you're indebted with them too. I've been working on reducing it over time and using surplus incomes I reduced it to £1600 from it's height of £2500 around 4 months ago. It's a curse of mine that arose from…
-
Advice on paying off loan
I am seeking advice as to whether or not pay extra towards a car finance loan I currently have. I owe approx £6000 and pay around £249 per month with 28 months remaining (4.9%) I was thinking of paying £2000 lump sum towards it. Is this wise?
-
PLEASE help me!!
Hi all, Please help. My mum brought my Partner, son and I a family photoshoot for my birthday yesterday and we attended 10.11.17 (so two days ago). We were entitled to one free print as part of the deal, a photo shoot, make up and hair and then a voucher for afternoon tea after. We were pressurised in to buying a digital…
-
Could PCP car loan affect a remortgage application?
My wife and I want to remortgage our £250k house to borrow another £10k for home improvements in March / April Could our chances of being accepted be affected in any way by trading in my car to move to a new four year car PCP deal now? I currently have two years of a car loan remaining costing £340 a month. The proposed…
-
Repay student loan or debts?
I wish to understand if I should pay my student loan off or my debts off. I have managed to save about £6,000. I also rent (some day would like to save for a home). I have the following student loans, which is over £4000 in interest since 1997. The total now is £8,340.73.. I have also contacted Erudio to ask when my debt…
-
Final Notice of Removal
I had a visit yesterday from an "Enforcement Agent" (from a debt collecting agency) who handed me a "Final Notice of Removal". When I pointed out that it was addressed to my son who no longer lived here he said that it was irrelevant as this was the address that had been given to him by the court (apparently my son was…
-
Can I cancel car finance after 6-8 months
Hi, Quick question. I'm looking to buy a fun car (M5 E63 AMG etc) to run for 6-8 months for circa £35-40k, Then I will sell / PX for a family 7 seater (XC90 / GLS New Discovery). I'm looking at different finance options, and wondering which would be the best one for lower payments and ease of repaying when I sell the car.…
-
DWP Crisis loan
Hello and please help DWP have contacted me after 25 years saying I owe about £7. It was from a crisis loan I had in 1995. This has come out of the blue. For me there is a point of principle in settling this. So I have some questions Does the 7 year no contact rule apply or is a crisis loan on they can chase until I die.…
-
Lloyds have cornered me
I have always run a lloyds current account in a authorised overdraft facility. I know this isn't the best way to save money but this is the position I have been in for the last couple of years whilst starting and trying to grow my business. I opperate anywhere between £2500 and £4500 into a £5000 authorised overdraft. My…
-
Have I been approved
Hi there, Just after some advice. I applied for a personal loan with my bank Natwest today. I received an email saying they were delighted to tell me that my application had been approved. I have to sign the agreement and then subject to final checks the money will be in my account. There was also a paragraph at the bottom…
-
Can I put payments on hold for a while without it affecting credit rating?
I have just been made redundant at the same time as being given notice by my landlord so am in a !!!! situation, making finding a new place difficult, i will most likely have to pay 6 months in advance of rent which will mean i won't be able to keep up with my monthly loan repayments until I have found a new job. Will I be…
-
Is there a legal time frame loans companies must reply to loan applications.
Good afternoon, I need to know is there a legal time frame loans companies must reply to loan applications in the United Kingdom? So if a person applies for any type of loan (e.g. business or personal) is there Legislation or case law precedents that provide a time frame which companies have to answer by?
-
Sainsbury loan
Hey everyone Applied for a sainsburys loan last Friday afternoon. Was approved at a rate of 5.7% and the paperwork arrived with me on Saturday! Signed and sent back to them straight away and they received my completed form yesterday and transferred the funds around 3pm yesterday They advised me it is usually 3 days for the…
-
Zopa loans - high interest rate?
I used the Zopa tool to calculate your likely interest rate without harming your credit score. Their advertised representative rate is as low as 2.8. I was given an estimate of around 20%!! I have a good credit rating (checked this recently) and can't see why it would be so high. I recently applied for a Sainsbury's loan…
-
Family loan tied in with inheritance
I and my brothers co-inherit my parents house, which is on the market at present. I am sole executor on the estate for convenience. Meanwhile I have offered to lend my brother £25K to cover the costs of his own mortgage renewal, which gets paid back to me when we sell the house. Any advice on the format of a letter between…
-
PCP Car Hire Coming to an end
Hey, Not sure if this is the best option to help decide what to do but any advice would really be appreciated! I have a PCP finance agreement with ford that ends on beginning of January so ill ideally have to decide and do something next month. They have given me 3 options which are.... 1) Part Exchange - get another new…
-
Satsuma loans enquiry
Hiya was looking at taking a loan out with satsuma loans Can anyone help with how satsuma loans work out there interest as looks like it’s cheaper to borrow same amount over a year then pay it off in 7 months For example a £1000 loan would cost 3 months - £1,476 4 months - £1,612 5 months - £1,760 6 months - £1,896 7…
-
Loan money to a friend
A family friend has asked me to loan her some money to help her with a house move. She has requested £50000 which she will pay back on the sale of her own property. Can anyone please give me the best advice on safeguarding my money if anything should happen to her. For example if she suddenly decide not to pay me the money…
-
Wait between applying for lower interest rate
OK, I'll try to cut a long story short. Went bankrupt a few years back, the 6 years has just passed so bankruptcy has dropped off the record (very recently). I'd been using credit cards responsibly but a decent contract I was working on was cancelled and I ended up going back to a normal full time job, obviously with lower…
-
Borrowing less than £1000 - Nationwide?
Hi All, Currently have a £10,000 loan with Nationwide which is half way through it's term (£5,000 left :beer:). I require a top up of around £400 to pay for a burglar alarm for the house following on from an attempted burglary but did not realise the minimum loan is £1000. Does anyone have any suggestions for any…
