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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…
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Default
Hello, I have a default on my credit file from Cabot financial. It's from a old Likely Loans account. It was my top up loan from May 2018 I missed my first payment on Oct 2018 and I didn't pay for 6 months so it defaulted (long story). Cabot Financial took over the account and it went into default on April 2019. On my…
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Borrowing against house as LPA
Hi, Not sure this is the right section to post in so please advise if not. Bit of a complex situation. Dad owns house and I have LPA as he had a severe stroke which has left him housebound, as the house is up steps which he can’t access. I’ve looked at various options but all costly and impractical with stair lift option.…
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Front Loaded Novuna personal Finance
June 2021 I borrowed £36000 with 1year deferred payment, I have since paid £556.34/month for 22 months (12000) The settlement April 2024 was £35,920.31 How can this be legal? means I only paid £80.00 of the original loan in 22 months Novuna Personal Finance Agreement number (Removed by Forum Team)
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Loan Quote Check
I've had a quote for a loan from Santander of £8,000, no arrangement fees, at 19.9% APR over 3 years, quote me total interest of £2,453 and therefore a total repayment of £10,453. I've plugged these same terms into about 10 different loan calculators who all come out with an expected interest of £2,688 so total repayment…
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Ending Car PCP early due to faults with car
Hi, this post is sort of a half looking for advice, half to
vent so sorry it’s a bit long. Done a bit of lurking and think I know what the established
options are but maybe someone has similar experience and can share? I brought a 1 year old Hyundai Kona hybrid back in Sep 2021
on a PCP agreement. At the start of 2023 the…
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Applying for two smaller personal loans instead of one bigger one: good idea?
Hi I wish to take out a large loan (£18000) to consolidate many credit card debts. There are multiple loans available to me (via credit report sites like TotallyMoney/ClearScore) with rates much lower than my credit card rates. When I search for loans at half that amount, there are several more offers from lenders. In most…
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Unsecured loans: what issues should MSE be raising with the industry?
Hi all Here at MSE we sometimes have the opportunity to talk to industry bodies, and one of our colleagues will be talking to representatives of lenders very soon. We've already scoured the forum to spot recurring issues that would be worth highlighting, but if you've had a recent experience of dealing with a lender with…
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Will new lender see car finance paid off?
I was in a car accident a few weeks back and my car was deemed a write off. The insurance company are paying off the remaining finance. I am on the hunt for a replacement car and with this I am looking to take out a new finance deal (the savings I have are for my wedding). On credit files I know it will take a while to…
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Withdraw from PCP within 14 days
I'm just about to order a new car but want to take account of the manufacturer PCP incentive. If I want to withdraw from the finance within 14 days when does the 14 days start? I'm signing the finance agreement now but the car doesn't arrive for 20 weeks (factory order). Does it start when I sign or when I get the money…
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Early repayment of loan due to death
My mother in law has recently passed away. I'm currently organising probate and calculating assets and debts. My mother in law had a loan which she was about 3 years through a 5 year repayment period. The value of the loan is £6,600 now, will that be the settlement figure or will the bank add on the interest that would…
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Have you had success reclaiming from a mis-sold payday loan?
In 2018 MSE published the guide: Reclaim payday & other short-term bad credit loans: Get £100s or £1,000s back for mis-selling without using a claims firm Have you managed to make a successful claim against a payday loan company? I'd like to hear your stories.
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How to put all deb on one ?
Hello, for several days I have been looking for a solution to combine all my debits into one. I have been paying off 2 credit cards + 2 loans for 6 months and have had no delays. I have previously repaid 2 loans on time without any debt, I have never had a late penalty and I cannot find loan debit consolidation anywhere.…
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Short term loan puzzle
Situation: We own family house approx £350k Mortgage of £20k We have £470k cash We want to buy a new house for £530k (including fees, stamp duty etc), but only cash offers are being accepted. We need £60k. We are having house valued now for sale. Is in area that will sell quickly, but we will not be able to use that…
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Problem returning end of lease car
Hi hopefully someone will be able to advise: have had a Renault Captur on PCH through Renault Finance since July 2020. Decided to return early so paid fees on March 12 to terminate lease. Unfortunately car had at this point developed an intermittent electronic fault traced to its EPB by the dealer. They have tried now on 3…
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Getting in Best Position for 0% deal
I'm looking to buy some furniture later this year and there is a 0% finance deal offer. Even if I have the cash, I usually go this route to earn interest on the money in the meantime. But I have quite a lot of credit at the moment, and I'm wondering what I might do to put myself in the best position to take out this deal.…
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Early repayment
I have recently taken out a loan for £7500 but have the funds to clear it. The lender is asking for £12000 to clear the debt even though I only took it out 2 months ago. Does this sound correct?
