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Secured loan arrears
Hi, new here,I have a secured loan with arrears, that's just been passed from mars capital to intrum mortgages, as I say have arrears £11,000,have had a payment plan in place, been paying £380pm, recently did a payment review that was agreed, now I've had notice from intrum that the term for this loan ended in 2019 and the…
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Applying for car loan before clearing PCP
I have done the MSE loan eligibility calculator for a car loan of 15k which says I am guaranteed the rate. I currently have PCP on a car which is about to be returned and the pcp cleared. Will it make any difference if I apply for the loan now? Or should I wait until the PCP is cleared? Even if it gets cleared i will need…
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Getcred new loan/credit card company mt
Basically there’s this company called getcred offering mt and credit card up to 10k credit- I was wondering about consolidating- 19% interest but on the application it said it’s made me an account and is giving credit line accounts to people each month and I should wait my turn until a spot comes up/ it’s in the App Store…
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PCP Car Finance
Hi All, First time poster but hoping someone could help answer my question. I have PCP car payment on a car with 35 payments left at 11.9% and a final payment of around £8k in 35 Months I have been looking at saving some interest and can get a personal loan around 6% so I was thinking if it is possible for me to just pay…
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Debt Collector and CCJ
Hi all, I have received an email from a creditor to advise that they have passed the debt to a collection agency. They don't have my current address, so I assume they will be sending letters to an old address. I don't know if they will email me if there is no response to any letters. I am wondering, is there a given length…
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PCP final payment - high depreciation - negotiation
Folks - Got a car on PCP. It has depreciated like a stone, to the extent it will be worth far less than the Guaranteed Final Value (GFV) by PCP end. I love the car and would like to buy it, but not at the GFV. as I would lose 000s when I walked out of the door. If I hand it back the finance/dealership take the ALL pain of…
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Loan disappeared!
Hi, strange one this. I took out a 17.5k Post Office unsecured loan for home improvements in sept 2019, over 6 year period, so due for loan completion in sept 2025.I have just noticed that the last payment taken by direct debit was Jan 2023, though the DD is still open. Ive never defaulted on a payment DD request.On…
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Commerical loan for small business
Hi, Does anyone know if I will be required by a lender to hold professional indemnity insurance to take out a commercial mortgage on my business premises? Thanks
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Car Finance - paying off HP amount early
At the beginning of this month I purchased a brand new vehicle using mostly my own money plus £5k on hire purchase over 18 months at 7%. Without the HP I could not have made the purchase. With the HP I benefited from a manufacturers deposit contribution of £1k plus two services. I am now fortunately( and unexpectedly ) in…
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Logbook loan advice - Mobile Money
Hello, I wonder if anyone can help.. I took out a logbook loan in 2015(!) (aware this was silly but I was very young and stupid) I defaulted on the loan and at the time I wasn’t really that bothered about my credit rating so I let it fall into default and they just disappeared, I had to scrap the car about 2 years after…
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how to calculate the interest according to an old instruction (40 years ago)
Hello Would someone please show me how the interest is calculated according to the far below 'paragraph 1'? The initial amount (outstanding balance) is 10,000 GBP as of 08Nov2024 today. Would you show me the working for the interest and the resulting total amount payable in one year time 08Nov2025? Please give me any…
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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…
