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Loans

Archives for January 2020

Guarantor of loans without knowing
Hello, Can anyone please advise on what steps to take, if it’s not too late? Today I discovered that my partner was chased for repayment of two outstanding loans for which she was named as the guarantor. Unfortunately she kept it from me until today, and one company chased her two years ago, and the other one year ago. The…
A letter before claim without a reply form and proof of the money that is owed?
I recently sent a Letter Before Claim but I didn't include a reply form or documents to show proof that money is owed to me. Does this matter? He knows that I have solid proof of the owed money should I need to show it at any point, but can he use this against me for not following the correct protocol? Also, I didn't…
Amigo loans
Good afternoon. I’m wondering if anyone can help me I have an amigo loan I’m looking to clear as it takes a a bit of a chunk of my wages. Does anyone know how I can go about this? I can’t get another loan to clear it as I have a bad credit score. Any advise would be great? Thankyou
Calculation confusion.
Sorry I’m a bit confused I wonder if you could help me. I had a loan for £2000. Over 2 years. I understood the interest to be 99.9%. Total charge of £1804. I have paid 6 months at 158.50 so £951. To settle they need additional £1894.83, so totalling £2845.83, with interest being paid of £845. I won’t have had the loan for…
Massive rise in Nat West overdraft cost
Help! A quick overview of my situation. I have struggled with significant debt (£40k+) for the past ten years. Last year, I had three options. 1. Bankruptcy. 2. Contact all the companies I owe and sort out sensible repayments. 3. Do something silly. I chose option two. I contacted all my credit card companies and all were…
Loan when medically retired
A few years ago my employer retired me due to my health. The doctor declared that I would be unable to ever work full time again and so I was entitled to a full ill health pension from my employers pension fund for life. This pension is my only source of income other than PIP and contribution based ESA.My wife gets carers…
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Payday Loan Reclaim HELP/ADVICE PLEASE
Hi Everyone, Im after some advice as im really not sure where I stand or what to do in the current situation im in. Over the past 3 years or so I have suffered with a gambling addiction (over 12 months now without any urges or problems) during the time when things got bad I turned to payday loans to feed the addiction, I…
Not another Wonga post... (Ok it definitely is...)
Hi all, So I received my offer from Wonga, £41 from a claim of £950ish Personally I'm just glad to be getting something back, but one thing that has irked me is; I put in a claim for irresponsible lending -and lost- a couple of years ago, and now they're saying that I'm eligible. So did they just blatantly lie to me, or is…
Help credit for young people
Hi I am after some advice, my son is 21 and crashed his car on Monday the car is a write off but he cant be without one due to work. His credit score is 309 and has been refused for a loan.Im confused as how is he supposed to get his credit score up if he cant get credit? the only outgoing's he has is his car insurance. We…
Wonga
So here is my email - I know they said expect a low payment but 4p check your emails WDFC UK Limited - In Administration (the Company) The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £. You will receive a payment of £29.52. Your payment represents 4.3p in the £ on your…
Birmingham Midshires Loan
Hi, Hoping someone can help please. In 2008 I took out an unsecured loan with Birmingham Midshires of £21,300.00. I have repaid a total of £14,647.38. Today, I called Birmingham Midshires to request a settlement figure as I am intending on paying off the loan in full (not with another loan). They advised me that my…
Coast / Welcome
Im looking for a little (Or a lot) of help in 2007 I purchased a house under a Goverment Funded Co-Ownership scheme, then later in 2007 I took out a loan with welcome. (it had been refinanced a number of times over the years and now refinanced in to a secured loan) I couldnt afford the repayments, and after being young and…
A Parking Loan ?
A woman walks into a bank in London before going on vacation and asks for a £5,000 loan. The Manager asks, “Okay, miss, is there anything you would like to use as collateral?” The woman says, “Yes, of course. I’ll use my Rolls Royce.” The banker, stunned, asks, “A £250,000 Rolls Royce? Really?” The woman is completely…
Post and loan applications from family that have moved out
Advice needed, a family member moved out 18 months ago after we bought their share of the house (my husband and this person inherited the house) and still has her post sent to the house this includes loan applications and various requests from companies advising her to pay her outstanding bills. Most of the post we can…
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Is this good enough for a Letter Before Claim?
I am from England. I have sent a reminder letter which has been ignored/the amount owned wasn't paid by the agreed date. I have just written a Letter Before Claim. I wanted to get some advice on whether it's okay to be sent as it currently it is. There are so many ways, protocols etc. I'm just a bit confused now so I…
Financing/loan options for moving in costs for a graduate with a secured job?
Hi there, I have accepted an offer of a graduate scheme commencing this September, which will require me to relocate. I am currently a student, and my contract entitles me to a sizeable sign up bonus, however as far as I understand this will only be paid around a month after my start date (basically on the first payroll…
Wonga - wrong bank details
I'm due a payment from Wonga at the end of January. They wrote to me last September stating the payment would go to the bank details for my current account. They have now written to me on the 10th January stating they are making payment to an account I haven't had for 10 years. I've tried following the link to upload…
Lloyds Loan Protection Terms pre 2003
Hi all I am asking if there is anybody out there who has a copy of Lloyds Loan Protection terms and conditions/booklet/policy between 2001-2003 please? I am in dire straits and Lloyds are saying they do not keep copies.

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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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