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Trying to get loans in check and pay less interest- please advise
Okay so I’m trying to get serious about saving and get my petty loans in check. I took out a 1000 personal loan with Halifax, interest is 25%APR I also have a few payday loans which aren’t huge and I’m paying them off. I wanted to get a low interest loan or credit card that would help me just pay them all off but none I…
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Settling outsourced debt / family member / living abroad
Hi, I have a strange scenario here that touches across a few different issues and hoping someone can help. Background: My sister took out a few credit cards when younger (acknowledges it was stupid, naive etc) and racked up some debt she couldn'y pay back to the banks. The debt stands at about £12k which has been taken on…
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Quick quid PayDay Loan - help
Hi All, Please can somebody provide me with some advice? I was helping a friend with a missold payday loan using all the advice on MSE. QuickQuid declined the complaint so I took it to the FOS. FOS sent him a letter to say after reviewing everything, the fair offer is a refund of £737.03. He signed the settlement form and…
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Repay Defaulted loan in full or pay settlement?
Hi there. I had a huge Natwest Black card debt from around 2009 (£20k ish) I had a successful business that went bust and was only able to afford to pay back £100 per month as I was on jobseekers allowance then had very low paying jobs for the next 5 years or so. Anyway fast forward to today and there is £6.6k outstanding…
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Miss sold pay day loan??
I took a £4000 payday loan out with Bamboo and after I paid it off I filed a complaint for miss selling and its been 6 weeks and they are still saying they are in the right but want another opinion. I took £4000 over 5 years at 49.9% because I knew I would pay it off sooner than 5 years. I had the loan 72 days and in that…
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Credit limits
Hi is there a general rule of thumb for home much credit banks can lend applicants? I'm talking unsecure debts here such as loans and credit cards. Presumably if somebody had say £20000 worth or debt already they couldn't apply for £10000? Thanks
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Post office loan
Just got myself a post office loan and wondering if anyone knows if you can pay bits off it in cash / debit card at the post office? I assumed you would but can’t find anything online to say that. Would be more convenient than calling up. Thanks
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Help buying a car
Dear MSE community I want to buy a car and am looking for the cheapest and best way to do so. I was reading the website and came across a link for a guide about cheap personal loans. However I am not sure if this applies to me. According to clear score my credit rating is 501 out of 700 and is considered good on their…
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Car purchase: Will available credit card balance effect loan application?
Hi, I'm looking to purchase a car funded with cash, credit card and personal loan. I don't have any outstanding debts but have a credit card with a limit of £9,600 (full balance available) which I hope to transfer the balance to my personal bank account. I also need to take a personal loan but was wondering if this…
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Welcome Finance Loan sold to Coast Finance Solutions - problems
Hi, I had a loan from Welcome Finance (from 2006) for £6000 which was defaulted in 2008 but since then i made regular £20 payments up until recently when it was passed on to coast finance solutions. I sent a CCA request to them but received a reconstituted statement of account starting from 2012 with my current address.…
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Full & Final Settlement Rejection Help
Hi, I have made offers to all 4 of my creditors, one I am hopeful on, the other 2 I’m waiting for a response and the final one have rejected my offer and counter offered. However, their counter offer is unfortunately way out of my reach. Where do I go from here with my response? Thank you!
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Car finance help
I'm just after some financial advice. My and my partner have 2 children, eldest is 4 and youngest 6 months. Well as expected, since having children our finances have been very strained. Pre kids, we spoilt ourselves and now ended up on a joint Debt Management Plan. We live from month to month. We really are scraping by, if…
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approaching end of PCP - what's more convenient?
I'm 6 months away from the end of my 48 month PCP plan and I've received a letter telling me that I could either get another car, make the final payment or return the car. My idea is to keep the car (I'm not 100% satisfied but I don't want to start another PCP with a new car right now, also considering I don't have enough…
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Very buy now pay later
Can anyone help me in understanding the Very buy now pay later interest charges. In september I noticed i had 2 BNPL deals coming to an end, one that month with interests of £136 being charged and another in November with interests of £135. Thinking that my DD would have taken care of this I was told on the phone that no…
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Car Finance outweighs value of Car
Morning, I have £8400 left on my car finance agreement and the car is currently now valued at a lot less. My contract says if I pay half the value of the overall contract (overall contract was £10,200) then I can give the car back to the finance company. Has anyone ever done this? I still have around 49 payments to make,…
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Reconsolidate Loan
Hi all, I'm very new to this - so please be kind / don't go to town on me just yet. I currently have a £12k loan with Lloyds - my current account provider. This is at an 18.9% interest rate, which obviously isn't great and i pay back approximately £255 a month. The reasons for this are irrelevant, given i've now fixed…
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Hire purchase agreement terminated.
I have a car on finance and in Apr 2018 I had difficulty in making payments. As a result the lender applied a default and stated the agreement was terminated. I brought all payments up to date and have never missed a payment since and I have kept the vehicle. My question is where do I currently stand? Under the course of…
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PCP settlement
I'm looking at buying a car and the manufacturer has an incentive to buy on a PCP (they give you money towards the deposit). I have the funds available and I don't want to run the deal for 4 years and pay the 10% interest. Could I take it out and run for a month, get a settlement figure and pay it off? Would I get…
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Lots of different debt
Hi. I renovated a house for me and my partner, before the project was finished we broke up. I've finished the house and put it on the market at 450k last year, over a year later I now have it on at 400k but no joy. I borrowed a lot of money to renovate the house which I am paying back on my own, as well as the mortgage and…
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Student Loan paid into someone else’s account
Asking for my friend who has a son just started at Uni in Sept and does not have an account here. The Student Loan did not go into his account and so he chased it up in September. The Student finance team said there had been an incorrect digit on the form and so it’s computer automated system guessed at an account number…
