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🎓 Got a student loan question? Head to our Student MoneySaving board
For discussion of everything to do with student loans and student finance, please head to our Student MoneySaving board.
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New to the Loans board? Start here
Useful links within the forum * Credit File & Rating board * Debt-Free Wannabe board Useful links to MoneySavingExpert.com guides * Cheap Personal Loans * Loans Eligibility Calculator * Cut Existing Loan Costs * Cheap Car Loans * Short-term and payday loans * Should I get a loan if I have a bad credit score? * Bridging…
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Loans - Important links - please read
Hi folks :) This is the new Loans Board Sticky where links to all current important threads will be kept. Links: This thread is for quick links to threads in this board. IMPORTANT - Problems with debts, payday loans etc? Payday Loan Survival Guide from Govan Law Centre Lending money to friends & family Cheap Credit Card…
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PCP - Is this the right way to use this overpayment calculator on MSE
£22600, 9% APR, 4 Years, £390 Payment, £9688 GMFV Zopa allow overpayments, anytime, and recalculate monthly every time, and I have checked, if I continued, at some point, it eats into the GMFV. https://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator/ When I have inputed the figures and just kept a £250…
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Updraft/ ACI predicament
I had two loans with UPDRAFT one for 20k and one for 8k. I wanted to default on all my credit cards and loans which I decided to do last year. I did receive a default notice from updraft (around May 2024) for both my loans and I had assumed the defaults had been recorded when I started to get letters from ACI. I started to…
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Loaning Money
Hi, I've just sold my house and need to distribute money in several places. I was wondering could I send my children £85k each to hold for a short while until my new house sell goes through...2 months time? I totally trust my children but don't want their to be any implications for them. many thanks
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Help! Unaffordable loan advice
Hello! does anyone have any thoughts on whether my loan should have been approved…. I took out a loan to consolidate some of my debt £25,000 back in September last year with repayments of £711 pm I already had £32,000 worth of debt over other loans and credit cards….( not including my car HP) My income at the time was…
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Quid market loans affordability complaint
Hi, I had taken 7 loans out with quid market over a 3 year time frame. The first one was 2020 so within a 6 year time frame. i believe these loans were unaffordable for me and i was on a low wage and already taking out other payday loans ( I was unfortunately by myself with a young child) and got caught in a cycle. i have…
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PCP and car already worth less than final payment
A couple of years ago I decided to get an EV on PCP, this being the first time I've ever bought a brand new car. Even though there's about 15 months left on the agreement, already the car value (according to autotrader) is about £5k *less* than the final PCP payment due at the end. Obviously I can just keep paying my…
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Why Can't I Refinance My HSBC Loan at a Lower Rate?
Hello, I'm hoping to get some advice on my personal loan situation as I'm a bit stumped, especially considering my financial stability. My main goal is to decrease the annual interest rate on my current personal loan. Here's my situation: * Citizenship & Residence: Dual EU/British citizen, living in the UK since March…
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Car HP confusion
If I take a dealer's car HP agreement (with a third party lender) there's a 14 day cooling off period. Online guidance is that cancelling the agreement means I have to return the car to the dealer. Question 1 - can I cancel the agreement, pay the lender in full and keep the car? If I don't cancel the agreement but make an…
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Council bankruptcies and debt
I'm trying to find out some information about what happens when a council is dissolved and a new authority is created and what happens to the debt. So, for example, when a member of the public has a debt with the old council i.e council tax, parking fine, care package - whatever really, what happens to that debt? How much…
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Pay off Hire Purchase Early
I have been told that if I pay off hire purchase of £30000 (£29500) and leave a balance of £500 within 2 weeks of starting the hire purchase agreement that this will prevent early termination fees and that the last payment of £500 (will be technically the first) will end the agreement Is this correct?
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Funding property abroad.
Hello. I'm looking for advice about hot to fund buying a property abroad. Me and my wife are both dual citizens of UK and Poland. We live over 10 years in England, and thats a place where we want to live until retirement (so, still more 20 years), but we are thinking about buying a home in Poland, renting it at a moment,…
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Santander Loan
I had a loan agreed with Santander on the 9th July but still waiting for them to release the funds. They say there was an IT issue but will not give me any indication when they will release the funds. They advertise that funds are released in 2 days once all approved! Anyone else having a problem?
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Merged: PCP - How to overpay and reduce interest, is it worth doing?
This discussion has been merged.
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Car finance PCP figures don’t add up Help!
Please help me understand PCP figures as they don’t seem to add up Dealer figures are On the road price £28384 dealer contribution £3000 my deposit £4000 Final value after 4 years £12352 APR 7.9%The dealer is quoting monthly payment of £298 Now, when I use an online pcp calculator and input the info above it says the…
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Car Lease agreement being sold to another company
Hi, I have a personal car lease agreement that is due to expire Sept 26. I received an email from the lease company (Leaseplan). That they will be selling my car to their sister company ALD and they will transfer my finance agreement to ALD. They then inform me that their plan is to merge ALD and Leaseplan and become…
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Turned down for 100% Pre-Approved Loan
Hi there I was looking for a small loan to cover a final payment on my PCP and to cover the part of my credit balance that is incurring interest, about £5000. I'm a bit bemused as I ran it through the MSE eligibility checker, and went for an option that was 100% pre-approved supposedly. As the title says, I was then turned…
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Moneybarn Car Finance
I bought a car with moneybarn paying £388 a month. To be honest I didnt realise how much the APR was. The car was massivley overpriced. I have since sent the car back as I fell behind with payments and couldn't afford the monthly amount. This was after bout 2 years. They have since sold the car at auction at about £3-4000…
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Paid off Loan Early
Hi - looking for some advice. I recently paid off a loan and it is settled in full - the lender is hounding my for info on earnings, where the settlement money came from etc but I dont believe the answers to their questions are any of their business - never ever had them before Salary/Income - • Was the full amount from…
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Loans to 0% credit card
Hi all, I have a loan (Which I purchased an item) with Klarna for about 4.5k. Is there any way of transferring the debt to a 0% card? I cannot seem to find a way of doing it as it's already a loan and won't be a balance transfer from another card. Thanks is advance
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Help Needed, Long-Term Finance Agreement Possibly Mis-Sold by Tool Company, Asking for advice
Hi all,I’m looking for some advice and insight into a long-running finance issue I’ve uncovered with a well-known tool company. I’ve worked in the motor trade since I was a teenager and have been using their credit options (Extended Credit, EC, and Rolling Account, RA) since around 2011. Between 2017 and 2019, my dealer at…
