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Debt following death
Hi, I’m looking for advice please regarding the outcome of debt / loans following death ... my father has obtained approval from Black Horse Finance to purchase a static caravan worth £20k. He has done so by using my mums details who has dementia and is 79 years old and receiving a carers allowance. When we discovered this…
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Student loan payments from self assessamnet
Hi, I am full time employed but did a but of extra self employed work last year, and filled in my self assessment and paid the taxes in April. My understanding is they dont actually collect those taxes till the end of January, but I was wondering at what point the student loan contribution will come off my balance? I am…
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How does a top up loan work? I'm finding it a bit hard to find examples
Hi, I took out a Nationwide personal loan a few years back for 60 months, for the purposes of this explanation, the loan was for £15,000, meaning I'm paying X per month right now, I've got 28 months left of this loan and would like to borrow some more, so I investigated how I'd do this. Nationwide do top up loans, but you…
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Help! Personal Loan or Balance Transfer?
I am 26 and my current situation is- 4.5k on existing personal loan paying 150pm 4.5k on balance transfer - ending July 2021 3.0k on balance transfer - ending next month I am looking to also take 5k for to pay off a friend. Would you recommend getting a personal loan and consolidating the whole amount or trying to get…
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Why are consolidation loans bad? Debt detailed inside
I'm just looking advice/guidance regarding consolidation loans, having read on the forums that alot of the time they're not considered advisable, i'm just wondering why? I have quiet a bit of debt that, basically nearly £27k across 7 cards. Unfortunately due to poor credit rating and credit utilisation across the cards i…
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Applied for a loan - has credit check been done?
Morning all I applied for a loan with the Post Office which had a 9.5/10 chance of being accepted for the offered rate of 3.2%. At the next stage, this changed to 16.4% so I made the decision to not proceed with the loan. I have received the loan application in the post today asking me to sign the copy of the credit…
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Credit Union loan
Hi guys, I have a credit union loan which is no longer affordable and going forward I am unsure what route to go down, I have other debts which I plan to add to a dmp, would I be allowed to add the credit union loan to this plan, I currently pay for it via payroll deductions so would any mention of a dmp with the credit…
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Student loan repayments - variable pay
Hi I've recently read Martin's useful guide to student loan overpayments - 'Student Loan Repayments: are you due a refund?' Although this covers many situations including what happens if you breach the threshold in one month only, I don't think it covers the situation of people who are already over the threshold to repay…
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creation finance email statement - I don’t have an account with them!
Had an email today out of the blue fromCreation Finance saying log in to see my credit card account statement. Balance 31p in credit it says in the email. This is news to me as I didn’t know I’d got a credit card with them! Looking at ways to contact them it’s only log in through my account which 8 don’t have, or call them…
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Car finance consolidation help
Hi, So, current situation: £10.000 loan completion in May 2021 £5,800 left of car finance completion in 2023. My question is when I complete payments in May (10k loan) I want to swap my car, would I be better to part ex as is so the garage pay off my finance and give me any positive equity toward the next one or pay off…
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actuarial method for loan repayments
Hi, I hope you can help me with this technical question: For a loan of £36,000, APR 2.9, 170 months payment, all loan calculator, including the moneysavingexpert say there will be £258 per month payment and the total interest will be £7,942. The lender however says it will be £263.42 per month payments with a total…
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Loan Advice
Hi, Back in Nov I applied for a 15k loan and was rejected, I have 6k in CC debt over 2 cards. If I manage to clear 1 of my cards (3k) before I next apply, should I close the CC or will this look bad just before taking out a loan?
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Received a Settlement Figure
This is my first post on this forum and hopefully I will be able to help others. I have recently like many people fell into recent debt issues. One debt in particular is a large loan with 1st stop loans now Oplo. I have been in payment areas for some time and sent a letter for reduced payments before Christmas. They never…
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14day cool off or just pay it off
Hi, Long story short I took out a £7k loan out however I no longer need it. Would it be better to utilize the 14day cool off period to cancel the agreement or just agree an early settlement. What are the pros and cons if anyone knows? Thanks
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Do banks check bank statements when applying for loans
Hello, Quick question. I am looking into getting a loan of around £7500 to purchase a car and have a score of 999 on my credit report in Experian, I have never missed a payment and I seem to be successful when doing soft credit checks. I am wary of applying first with my current account lender as although they rate me as…
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Halifax Loans vs Car finance
I have been looking at the Halifax website and seen they do car finance and loans, Was looking at changing my old ceed to a leaf and saw these options. The car finance rate seems better than the loan rate is there a catch to why this is? Has anyone paid over payments on car finance from halifax or is that not possble?
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When will APR's go back to 3%'s
Hi all After doing much googling I haven't found the info I need so I figured this would be a good place to ask. Pre covid rates were at the low 3%s (the advertised rates) now they are at 14%, presumably because lenders are scared people will lose their job. Does anyone here know from a reputable source when those rates…
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car finance and differed payments
at the start of the lockdown i deferred the payments on my car. when i went back to work and ack to normal pay i contacted them and arranged to repay the deferred amount by paying higher payments each month. while they were being deferred each month they were being recorded as missed payments which concerned me at the time…
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99% Consolodated-Lendable.
Taking into consideration, Credit Cards repayments/timescales. I've today been accepted by Lendable Loans 14.64%. Though I have worked towards lowering CC debt from 8.7k to 5.6k. Various cards were scheduled to be cleared over 3 years approx. Today's loan means I'll re pay 5k approx off balances -with 600 to repay myself.…
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Financing my Car PCP GFV amount
Hi folks, looking for some advice on how I can finance the "ballon" payment at the end of my car PCP contract. I purchased a car for £27000 in 2018 and borrowed £24000 (I had £3000 cash to add). The finance company PCP contract gave me a Guaranteed Future Value of £13000. As it turns out, I absolutely love the car, and…
