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New MSE car refinancing guide
Got car finance? Test our new guide & tool to see if you can refinance to save £100s or £1,000s? We're testing a new guide, to see if people on PCP or Hire Purchase deals can save by Car Refinancing. It's brand new territory for us, so we wanted you to go through it, see if you understand it, whether you think the guide…
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Loan vs Morgage
Me and my partner bought a house together with help from my parents so we have no mortgage. Me and my partner are listed equal on the deeds and have a verbal agreement that should circumstances change any sale of the house would pay back my parents first and foremost. Now I need to pay my parents back as circumstances have…
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PCP CAR FINANCE SET UP WITH WRONG MILEAGE
I bought a car from Kia dealership using a 2-year PCP Finance with Hyundai Finance when it had 22,000 miles and was verbally quoted a monthly repayment amount which I agreed and few days later signed the contract, where the finance finishes October 2025. I recently changed job which my nearer where I live and no longer…
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Can you overpay PCP finance?
Example. Car is 20k Deposit 5k 10k over 48 months GMFV 5k Effectively over pay by 9k, have 1k on monthly payments over 48 months and know full well I have the option of returning the car or keeping it. Will this reduce interest to hardly anything and payments which are minimal monthly amounts over 48 months?
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£50K loan -- looking for advice
Hi, we're a husband and wife with no debts, no real savings and a high-value house. Looking to borrow £50K for a home improvement. Probably over 5 -- 7 years. I work full-time, wife works part time. 3 kids no child-minder/nursery costs. We feel we could comfortably afford monthly payments equivalent to what our mortgage…
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Funding Circle personal guarantee
Hi all, This is my first post on the forum after doing a lot of reading so a big hello to you all. My little problem is that Funding Circle are activating their claim against the personal guarantee that I signed when taking out a loan as part of a now dissolved limited business. As the business folded due to health issues…
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Loan payback now I'm unemployed
I took out a loan with updraft (£4k, £159 per month to pay back) because I was in full time work (£30,975 per year) and my partner was also in full time work (£28,000). I've now had major life changes with losing my job and my relationship has ended. I have recently started contacting all of my creditors including updraft…
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Misleading Interest Rate Quotes
After hovering around looking for a loan and seeing nothing below the 12%-15% mark for a while, a couple 5.8% loans appeared on this site and we went for it. We were approved, but with an interest rate of 13%. I understand that to be able to advertise at a certain rate, very few customers actually need to be offered it.…
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Best Option For Someone With Bad Credit? (Dental Work)
Hey guys, my credit score is basically horrible like even the worst payday loan sites won't give me money just to give you a picture. Anyway I currently undergoing treatment for dental implants for my front teeth via a private dentist (as NHS have done me more harm than good) and currently I've paid for the extractions…
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Capquest letter regard debt that was paid
I recently had a letter from Capquest telling me I have an outstanding debt regarding a loan from the Royal Bank of Scotland that has been assigned to them. I have a letter from PRA, dated August 2017, thanking me for paying off the debt in full, and referencing it was for the [Halifax] Royal Bank of Scotland. Should I…
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Dept collection company
Do i have to divulge information about a debtor who no longer lives at my address?
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Understanding interest on a bank loan
I borrowed £7,500 recently, at an interest rate of 6.6%. The total amount repayable after 60 months is about £8767, paying back at 146.33 a month. When i checked my account with the loan, it had taken two lots of £146.33, but also 3 interest payments of £14 and £38 twice. Meaning, as i see it, i've paid nearly £300 off so…
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Credit Unions: Official MoneySavingExpert.com Discussion
This thread is to discuss the Credit Unions article. To discuss or ask a question about this click post reply.
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Nissan Car Finance (RCI) sold when I didn’t need it.
When I retired in 2017 from my job that gave me a company car, I used part of my pension lump sum to buy a new one. I had decided what I wanted (Nissan Qashqai, new) so went to my local dealership. I wanted to pay the whole purchase price as I didn’t want to commit to monthly payments with my substantially reduced income.…
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Legal action from debt collectors
Hello all, hope I could get advice with this debt collections. i am still waiting for the letter/ confirmation that the debt has been defaulted. Seems like this specific debt still hasn’t been defaulted. They have since sent me a letter with these lines and I’m feeling pressured now and somewhat threatened which I know is…
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2 x 25k loans 6.1 and 9%
I got these two loans as i wanted to make sure i could buy a house without a mortgage. The house has come in the middle of my price range so i only need 30k loans. Should i pay the 9% loan back or 15-20k of it or just keep it going? I have no other debts so can afford both repayments currently.
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Advice needed - family debt
Good afternoon Mse forummers I come seeking aid by way of taking out a loan to repay part of a debt to a family member, due to me having 3 children, living in rented accomodation and being single income (full time employef) my plate is full! Its manageable and I’ve budgeted for what is coming. I have roughly £2700 credit…
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Complaining about historic loan - help
I've been trying to clean up the old credit file in the hope of making a mortgage application and could use a bit of advice on an old unsettled loan. I reside in Scotland and most of my file is in an OK place, except for one issue: The short of it I borrowed 2,200 from AvantCredit (AC) in Nov 2016 and struggled from the…
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Coast finance / welcome
Hi This is the first post I have done . I thought someone else might of had the same issue? We got a secured loan in 2008 from welcome finance. Unfortunately in 2013 we lost our property due to the recession . We thought all debts went with our property. We have rebuilt and sorted are finances out now . Then in 2019 a…
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Interest on early repayment of Funding Circle Busines Loan
About to take out a Funding Circle loan but reading contradictory advice from them about whether interest is actually reduced on a Business Loan if additional repayments are made early? Funding Circle FAQ (https://www.fundingcircle.com/uk/support/business-loans/ ) quotes: The second paragraph here suggests that paying…
