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Loans

Discuss all types of personal loan. Remember MSE's stance on loans: 'borrow as little as possible, repay as quickly as possible'.

Loan payment protection
When I took out out my loan with the Co-operative Bank I was given the distinct impression, over the phone, that my application had more chance of success if I took on some payment protection. I needed the loan, (why else would I be applying, I hear you say !) so I had to say yes. As I am medically retired and my wife…
Best way to use "sale of car" money?
hi all got some pretty bad debts, but due to this site am just about coping. just starting work again after 9 months unemployed, which hasnt helped (credit card funding my current a/c...aaarrgghh!!!!) ok, im selling my beloved TT soon (i held on to it for far too long anyway...), which should fetch £17k. To purchase this i…
Student Loans
Freddie, being a poor student back in the late 1990’s has just checked the SLCs website and was most proud to see that the interest rate he has to pay, urghhhh, this year is 2.6% Marvellous, more no pennies to the good lady!! But looking further, Freddie checked to see that if he had taken the job in 1998 and went back…
whats the best thing for me to do?
Hi all, first time using this chat bit so bear with me! I have a £3,500 debt on a credit card that I'm repaying £100 a month. This is on a repayment scheme. It is also showing up on my Equifax file and I think it may be the reason I've got a bad credit rating. I am pretty sure my bank will give me more on my graduate loan…
Repairing credit file post IVA
I have just completed an IVA early. I haven't dared look at my credit file in 5 years. What is the best way of repairing my credit score? should I write to Equifax etc explaining details of end of my IVA and involved etc? Mel
Debt Help Needed please..........
As there's too much info to take in on this site, I thought I'd make a post........... ........right, well, here it is. I'm a married mum of 3, husband is employed. we're getting all the benefits we're entitled to. don't know offhand how things stand right at this moment, but I have a financial statement that was done 6…
Info needed on short term loan please???
Hiya, I wonder if anyone could possibly point me in the right direction with this one?? My father-in-law is renovating a house and has less money than he thought to do it up with! He is going to take out a loan for the deficit but has asked me to try and find out the following... 1. If there's one where the first payment…
Where to move money to?
I have just completed a re-mortgage with Northern Rock and took an extra £5000 to pay off my personal loan with Sainburys, I also owe £1300 on a MBNA BHF credit card, and £800 on my HSBC Gold credit card. My question is now: Should I use the additional money sitting in my current account to clear both credit cards and save…
Should we move our 7.9% HSBC Loan?
Hi all. I have a joint graduate loan from HSBC with my wife. We want to know if it is worth our while paying this off in full by transfering it to a different loan. We got it last year at a special APR of 7.9% for a total of £11,500. We didn't go for any protection on it. We paid an initial payment of £358.08 and then it…
you are all wonderful! so to get money i..........
well it all seems like lots of jolly fine people have done lots of research and figuring out of clever techniques and methods enabling them to take advantage of 'generous' offers by money lending organisations driven by greed and a faith in human weakness! wonderful! i love it! especially the fellas who've bitten back at…
Debt of £15,000 and increasing!
Hi My brother has got £15 in debt mainly on credit cards and overdraft at Barclays. He has recently gone gambling at the casino nightly. He is out of work but has got a temp job at the moment. He is living at home and driving my parents to despair. My mother wants to protect their address from CCJ's as they will come…
Advice please on Accident Group and RBOS
Any advice please on a loan from Royal bank of Scotland for £1000 taken out as part of an Accident group claim. TAG went bust shortly afterwards but still receiving loan statements from RBOS, not asking for payment but increasing interest. Rang RBOS previously and was told not to worry about it, there was a backlog and it…
YEARLY BILL - LOAN OR CC?
Hi I need to pay a yearly fee of £4,000 for site fees etc for where I am moving to. Although the obvious answer is to divide the sum into 11 months and put it aside I need the first payment by January 05 and don't have enough time to save that amount. I also think it may be cheaper to fund it via a loan or Credit Card as…
Short Term £5000 Advance
I need £5,000 to finish a House Extension i do not want to add that figure to my mortgage or even take out a bank loan, If i goto my HSBC CreditCard and withdraw £5,000 cash and the same day balance xfer the amount onto my Halifax One Card 0 % will this be the cheapest method ? I have funds to pay off the full amount in…
Abbey student overdraft
I have a student account with abbey that is overdrawn to £1000 with a £1800 limit. When I get my statements I'm told that my payment history will effect my credit rating. Is this the same for all student overdrafts and how badly will not paying money into my abbey account on a fairly regular basis affect my credit rating?
Debt of £15,000
Hi My brother has ran up debts of £15,000 on credit cards and on overdraft in the bank and is currently unemployed and has started gambling. My advice is to try and take out a fixed rated loan for the amount and pay off the credit cards so at least he is paying less. He does not even bother to pay the minimum payments off…
Need to get out of debt?
After seeing a post about the CCCS a few weeks ago, i've just had my hourly review and am more than pleased with the help they had to offer. I'm going to be set up with a debt management plan that they will pay my creditors out of the outstanding amount of money we have coming into the house, less the amount we need to…
£15,000 loan at 20yrs old??!!!
Hi, in a bit of bother, me and my b/friend are in a bit of bother, basically we need a loan of about £15,000, we have recently done up the house and maxed creditcard after credit card, we have lowered our interest rates as best we can and have a 2.9% on barclaycard, but all the other cards are offering around 7.7% for 6…
Loan or savings?
This has probably come up before, but I can't find it. The question is - I want to put in a new kitchen costing about £10,000. Should I take out a loan, or cash in some of my life savings (PEPs)? BTW I will be retiring in the next year . . .
£2000 loan on low income - medical reasons
I'm looking for a reasonable rate on a loan for £2000 which I require for medical treatment which is unavailable on the NHS. I'm on a low income and don't own my own home but I can afford monthly repayments of upto £100 I find this whole loan business a complete maze and have got a few quotes but it's a minefield and was…

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