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Starting a business (personal loans)
Hello all. I am looking to start a business and I wonder is it possible to take out personal loans to do this. Will lenders allow you to do this? What options do I have? Thanks
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Car finance - gift
My patner has recently purchased a 18K car through finance. He has said he wants to gift this car to me as a birthday present. I already have a car that I own out right and do need not comfortable accepting this gift as it’s not in my name and I will have no right of ownership, so I’m risking my security of a car. We do…
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Car finiance changes.
https://www.theguardian.com/business/2024/oct/29/santander-uk-delays-results-car-loan-ruling-bank *** This looks expensive for many financial institutions. Plus getting quick car finance at car dealers could be slow and even more expensive.
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Cancelling direct debits
Hello, I am looking for advice please. I have a joint current account with my ex partner which she still has 2 of her personal loans coming out of (she is saying I should pay them as I have had the money!) she is not paying her half to the joint mortgage or joint loan so the overdraft is getting bigger each month. I have…
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Missed payment
How bad is 2 missed payments recently on a loan, on your credit file, compared to a default or is it just as bad.
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Loan to clear Credit Card debt?
Hi everyone, over the last 10 months my wife lost her job and I had to support her and all bills/expenses and ultimately I pilled up my credit card balance to £15,700 (at an average APR of 37.4% - I know it's high). As a result, over the last 18 months my credit score also went down significantly. Even though I'm not at…
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£20k loan/gift from elderly parent(s)
Hi, My mum (83) is going to give me £20k to cover the final part of my divorce settlement, it's a big number. We haven't fully had the discussion about payback and if I do it as a loan I will be in a position to cover it over the next two years. My dad is also still around at 87 and I have two older brothers and the three…
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Loan application rejected, credit report wrong
Hi. Just wondered if anyone had advise or experience on this. After doing various eligibility checkers I was receiving 90% chance of loan. I did the application and it was rejected - thought that was odd so logged into Experian. My credit file was blank as it didn't have my current address (almost 3 years here) - there was…
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Personal loan from friend - terms changed
A friend was able to loan me 4k about a year and a half ago so I could avoid hefty interest on a bank loan, we had a written agreement I would repay £300 a month, and all was fine. Recently things have broken down between this friend and I and they are demanding I repay the loan in full. I am not in a position to do that…
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credit broker or lender
if i want a commercial mortgage what should i prefer
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Debt consolidation loan
I am debating whether to take out a debt consolidation loan as there are mixed reviews. I have 2 personal loans 1- £1790 2- £1200 credit card 1 - £1100 credit card 2 -£850 credit card 3 - £500 a lot of my interest free plans are up soon. Would it be good to get a debt consolidation loan or just attempt to pay what I can
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Equity release - no management company
Hello, I have a question around equity release. My mother has an interest free mortgage which is due to come up in 2026. We have been looking for an equity release solution which will pay off the capital and leave her with cash in the bank. We started the process by engaging with an Independent financial advisor, who told…
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Changing car finance?
Needed a new (or second hand car in this case) about 3 years ago. Went to a local dealership and, at the time, with my less than perfect credit record, I got finance with 24/7 money. No issues paying each month. Never missed a payment etc. I'm paying around £381 a month, which is probably a lot more than I should be…
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Litigation Loan and Divorce
I've been a victim of one of these litigation loans for divorce, and have been contacted by a number of other people who are also victims. The MO is you go to a solicitor for advice on marriage breakdown, and they pressure sell a loan with a loan company you will never have heard of, these loans charge up to 25% interest,…
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Divorce Loans - FOS have found "unfair business practises" and pressure selling by solicitors....
Two recent FOS decisions have found "mis-selling", "unfair business practises", failure to check affordability, in excoriating decisions which look a lot like those made against payday lenders. It is not enough to say "a solicitor would never..." because clearly these solicitors DID.... Nor is it enough to say the…
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Early Loan Repayment Confusion
Morning, New here, tried searching but not been successful. I have 2x Zopa loans, which I want to pay off early. Between the 2 loans I have a total of £350 in early repayment fees. I don't really know how this works and I can't find much information. Zopa don't charge for overpayments and reduce the monthly payments, as…
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Unilateral Notice of Interim charging order from 15 years ago, nothing paid or agreed since then.
I concentrated on my other debts longing for the more quiet phase that usually follows after they secure the debt. The debt has been sold on and the registered beneficiary on the notice has not been updated and no longer owns the debt. I spoke to the company with the debt now to get a statement and they seemed to have…
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Prime Credit 5
After some help if possible. I took a loan from Welcome Finance around 2015. This was passed to Prime Credit 5 after going bust. I cleared the loan in 2017 but they have not removed the 2nd charge from my property. Only realised now as re-mortgaging. Can't find any details for Prime 5 and dont have any paperwork. although…
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Considering a debt consolidation loan - need a sense-check before committing
Hi everyone, I'm looking for some advice on whether it makes sense for me to take out a personal loan to consolidate my debts. I want to make sure I'm making the best financial decision and would appreciate any insights you might have. My Current Financial Situation: I have debts spread across a couple of overdrafts and…
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Is it a good time to get a loan
Hi, so myself and my partner have a couple of credit cards between us that we would like to clear but we also want to finish the work on our house so our plan was to borrow against our house on the mortgage when our term is up July 2025 but I wondered if a loan was a better option to clear our cards and use the rest of the…
