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car finance for a Tesla Y
I am seeking advice on the legitimacy of an agreement I have for a new Tesla Y bought in December 2022. It is a Non-Regulated Hire Purchase Agreement. The terms of the finance are as follows: £53,181.00 was borrowed to be settled by 48 monthly payments of £928.63 with a 49th payment (the so-called balloon) of £24,210.00.…
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Loan repayment terms, what does this mean?
I'm helping someone reduce their loan but it has the following clause. we're likely to reduce it from £6k to £3k now, does that mean we can't pay the whole lot off in a few months's time? 'you'll still need to make a monthly repayment paying more will reduces the size of your the amount of interest you pay and the cost of…
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Short loans in a trust deed
Hi Please dont judge me. So im in a Scottish trust deed and my car engine has just went bang. I don’t have the amount to fix this and I have no one around me to ask for help. Does anyone have any idea where I could borrow money from short term? Or no of any overdraft options? I have tried my bank, I really don’t want to…
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Advice needed for a friend's loan
Dear friends, A friend of mine came to UK in 2011 as a student and he borrowed some money around 2000 GBP from his bank in 2013 for his marriage. He also used about 700 GBP of his credit card. He went back to his country and unfortunately never got a chance to come back due to some financial issues. Now in 2024 he has come…
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best options for a newly employed
Hi I am planning to apply for a loan roughly between £8000-10000 and the need is quite personal is to cover my family member visa fees and their hospital bills. I will have been in full time employment with the same employer for 6 months in September. Before that however I was freelancing job hoping and my bank account was…
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A really sad story....
my son & partner bought their 1st house last summer learning money management here. because they were both working my son took out loans for 2 cars on finance, a big Range Rover thing that was £20k & seats their 4 kids and a smaller Audi with a few bodywork issues for a cheaper price, I think around £4k but in February his…
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Don't know where else to Post...
I am at my wit's end! Since approximately September 2023 we have received a constant stream of envelopes addressed to a person who has never lived at our address (we are only the second owners, lived here since 2009, and I know the name of the person we purchased from - not the name on these envelopes). All letters so far…
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One Stop Money Shop - paying it off early!
I recently found out that my wife had taken out a £1000 loan with the One Stop Money Shop over 12 months without my knowledge. When I saw the direct debit leaving our joint account, I confronted her and found out she had agreed to an interest rate of nearly 300%! So I offered to pay the loan off in full, thinking that as…
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Buying a business, using house equity.
I have been offered an established business that has been successfully trading for over 4 years. The owner is retiring and hasn't really pushed the business for the last year, so a lot of scope to really build. I have savings due to redundancy, but wont be enough for the initial purchase cost and monthly living. The…
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Two loans arranged to purchase car by dealer
Hello, With our last car purchase, the dealer said we would have to take out two separate loans but under the same sales agreement in order to purchase the car. It was for £20,000 car and they said at the time it was something to do with the age vs value. In hindsight, we are now wondering if this was correct by the garage…
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Klarna Kate Payment Fees - May 2024
In April, we somewhat hesitantly entered into a BNPL agreement with Klarna. This morning, we received an email informing us of the new late fee charges. Does anyone know whether we should have been made aware of these planned changes before we agreed the loan? I get the due diligence argument, but there were no obvious…
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Paying PCP sooner
It's coming up to 12 months since I took out a PCP loan on a 2021 Vauxhall e-Corsa, just the car we needed at the time for local journeys and will be keeping for the foreseeable future. Has anyone attempted to pay the loan sooner? What did you do? I've heard people take out loans on better rates than the PCP deal - is this…
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Declined for Barclays Loan based on Current Account Activity
I applied for a Barclay Loan for a car (£9000 over 48 months = £215 per month repayments) and was surprised when I was turned down based on affordability. I called to check and query this, as I felt I met their eligibility and affordability criteria. * my income is over £55,000 (joint income is £100,000) * I am full-time…
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Loan v remortgage v trading in an asset to fund a new business start up
I need abit of advice. I have the opportunity to set up a new business that would make great use it my land while also bringing in a healthy return. I need advice on the best option to get funds to start this business. I don’t have savings but I do have another house I currently rent out. I also have £200k equity in my…
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Looking for finance company Sun Securities Poole Dorset
Hi, can anyone help please? I am trying to find Sun Securities, a finance company operating in the Bournemouth/Poole area around 10 or more years ago. They are not on Companies House web site that anyone can find. I am trying to buy a probate property but it seems there is a charge against it. I have been told that Sun…
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Offered Higher APR for Loan - How does this affect another application with different lender?
HI I have applied for a loan having carefully looked at the credit club affordability etc. had 95% chance of being accepted. Applied for loan but instead of the 6.5% advertised rate, they have accepted application but offered 10.9% APR. I was aware this could happen, but like most people, hope it doesn't and the only way…
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Loan in my name.
I was in a common law partnership with my girlfriend. We lived together in her house for around 5 years. I was not on the mortgage. As she had bad credit score we agreed I would take out a loan in my name to install new windows and doors. We subsequently split and I have been paying ever since. The agreement is in my name…
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Buying out siblings
Trying again in another thread.
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Do debt collection agencies go to court?
I'm wondering what the criteria are for debt agencies who buy "bad loan" books to bother getting a judgement. When I moved into my house 6 years ago I got loads of letters for a former resident. Literally hundreds. Despite sending back and in some cases calling, they still get sent today. The council tax bill resulted in a…
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Can a Natwest loan be on a repayment plan to avoid a default?
I've an ongoing issue with Natwest that started in 2021 regarding a loan I took out to cover a tax bill. I was laid off a job and needed the money for priority bills as I did not have enough savings. So I took out a loan to pay the tax bill. However, getting back into work proved difficult. I work as a freelancer but did…
