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Loans

Archives for May 2018

Loans Help
Hi My brother has highlighted an issue which I was not aware of and I want to help him the best I can, as always, but on this occasion I'm not sure of the best way to approach / deal with the issue... The following loans / credit cards are outstanding...any hints or tips on how to approach this and get the debt paid off…
'Closed Accounts' on Noddle
Hi, I am not sure if this is in the right section but I am wondering if you can be chased for debts shown in your 'closed accounts' section on Noddle. 2 separate companies have been sending emails chasing debts that are considered 'settled' or 'satisfied' on my Noddle account. Can someone please shed some light on to what…
Pay off my car loan?
Hi, I have bought a car last year on a 46 month payment plan which I am paying off with no problem. However, the interest rate is 7.4% and now that I have finally wrapped my head around the idea that a 0% credit card does not have to be a dangerous thing, I am wondering if I should pay the car loan off early with the 0%…
MSE News: Rent-to-own sector faces price cap as high-cost credit reforms proposed
The financial regulator has announced new proposals designed to protect millions of people who use overdrafts and high-cost credit - and hopes they could save consumers more than £200m a year...Read the full story: 'Rent-to-own sector faces price cap as high-cost credit reforms proposed' Click reply below to discuss. If…
I thought I will never see this day!!!
After 10 years of hard work I have finally paid of my student loan:beer: I walked away with £20k debt 16 years ago which doesn't seem that bad compared to the university fees you have to pay nowadays. I ended up clearing the £1,600 balance which means more take home pay from next month, feels like a pay rise. I'm so happy:o
Equity Release - Should I?
Hi, after many years of financial problems, I am now the proud owner of my bungalow, mortgage free. I am 66 and although "retired" I am self employed and earn a good living on top of my pensions. My daughter is very ill and needs treatment. This treatment is not available on the NHS and it will cost in the region of…
Car Finance
I am looking into getting a vehicle on finance next month and was wondering how it all works. I understand that PCP is my best option. Will the finance company (Vauxhall vehicle so most likely Arnold Clark) want to see bank statements/wage slips or will they simply do a credit check on myself?
How do I find old loans?
Over the past 25 years I've taken out various loans and mortgages through different banks and lenders. Nearly all my paperwork has been thrown away or become lost over the years. It might sound daft, but I can't recall how many loans I've had or who they were with - but I would like to explore if any of these loans had…
Home Improvement Loan
Current situation: Repayment Mortgage with Halifax Current value of Property: £160,000 Mortgage left to pay: £75286.67 including ERC Early Repayment Charge (ERC): £2189.36 Monthly repayment: £443.67 by Standing Order Rate: 2.24% for 2 years from January 2018 Need a Home improvement Loan: £25,000 Repayment period: 2.5-3…
Secured loan to consolidate debts as any remortgage
Hi Myself and my OH have considerable debts of 55k. We can’t remortgage to pay some off as we have to much debt in relation to our salaries. Our combined earnings are 75k. We have about 100k in our houss as equity. We haven’t missed any payments but we are getting to a stage when that could happen soon. I’ve looked into a…
Loan advice for elderly relative
Hope this is the right place to post. I'm looking for a bit of advice please. It transpires that my elderly uncle (78 years), divorced is paying over £500 a month loan repayments to Barclays. He receives £740 income each month ( pensions only, no other benefits). We've only just found this out as he's not very open when it…
MSE News: Complaints about high-cost credit reach highest ever level
The number of complaints about high-cost credit has reached its highest level on record, according to new figures from the Financial Ombudsman Service (FOS)...Read the full story: 'Complaints about high-cost credit reach highest ever level' Click reply below to discuss. If you haven’t already, join the forum to reply.
10yr old Welcome Finance secured loan - enforceable?
About 10 years ago I got into a right financial mess which resulted in my house being reposessed - at the time I had a mortgage and a secured loan with Welcome Finance. After the house was reposessed I "presumed" there was enough equity in the property to pay off the debts and didn't hear anything since... Until a few…
Joint loan to consolidate?
Between me and my spouse (unmarried) we have about £30k of credit card and overdraft debt. We would like to get a consolidation loan to pay this all off. Do you think we would have more chance of getting if it we applied for a joint loan? My thinking is that we would have a higher combined income, so would be able to…
Tesco Loan
I applied for a Tesco loan today , it said i had 80% chance of approval. I didnt get an instant decision. It said 2 working days , but when i called up they said 3-8 working todays. How likely do you think it is ill be approved?
Consolidation?
Hi guys, recently my debts have really been boterhing me greatly. Not a huge amount £3500!! But enough to keep me awake some times. I’ve been considering concolidsting into a loan so that everything’s in the one place and I can just clear it within 2 years. Myself and my partner are also planning on a mortgage within the…
Giving Back Car
Hi All I am 18 months through a HP agreement with Advantage Finance. The HP is over 5 years. I need to give the car back. I simply cannot afford to run the car anymore. What are my options? I am already on a DMP should I give it back and add it to my list of creditors Thanks Ron
I have been duped by an old friend (£200). What are my options?
I apologise if this is the wrong forum, i can't see where else it would fit. An old friend of mine from my school days (we're talking 15+ years ago) messaged me on Facebook recently stating he was stuck abroad needing £200 to pay for a new passport as he had miss-placed his. He wanted me to meet a member of his family in…
Multiple Car Loan Enquiries
Hi, I understand that making several loan applications can cause concern for lenders but on the old internet search engines a lot of credit websites say that making several CAR loan applications are mostly classed as one application. However all these sites seem to be referring to the USA. Does anyone know if UK lenders…
2001 loan
I have recently received a letter about a loan my ex husband and I took out in 2001 - my ex husband was replying this but he went bankrupt several years ago - the company who the loan transferred to are now chasing payment - does anyone know where I stand regarding this or where I can get help as I can’t afford to repay -…

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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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Loans

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