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Is it worth paying off end of loan early?
Hi guys, apologies if this is in the wrong topic. I took out a loan in 2018 at 19.70% APR. It was for a car, and I had no credit history to speak of until the loan. Original amount was £5,000, and I am now down to £608.97. I am in the fortunate position that I could, in theory, pay this off in full now. I haven't yet…
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Welcome finance
Hi all I'm looking for some advice. I took out an unsecured loan around 2010 with welcome finance. Can't remember how much for. A couple of thousand maybe. I have been making payments of £22 per month for around the last 9-10 years. I no longer know who has this debt not had a statement for a few years so don't know how…
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CCJs and Joint Property
A relative has a joint mortgage on a house jointly owned with his ex-girl friend. Subsequent to their breakup, she took out a loan but due to circumstances has defaulted on it and has a CCJ awarded against her. The creditor wants full recompense and is going after the house which is the only asset she has. Can they do this…
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Loan via lendable
My maths is sketchy at best so I am hoping someone can help. Back in early July, I took out a £10,000 loan via clearscore - lendables to consolidate debts. The agreed amount I would pay in total was £13,030.17 over 36 months. This amount is the sum of:
(i) the Loan Amount;
(ii) the Loan Fee; and
(iii) the interest payable.…
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Had a loan refund cheque or part of your balance written off out of the blue? Let us know
Hi everyone, Seven lenders have agreed to pay out £12 million in compensation to some 60,000 struggling borrowers, financial regulator the FCA has announced today. But the regulator is being tight-lipped about which lenders are involved, so we want to know... * Have you unexpectedly had part or all of your loan balance…
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PCP/HP, dealer contribution
I have found a car I like, have saved enough to pay outright, £21.5k Dealer site offers £500 contribution of taking their PCP or HP finance. I'm thinking of taking one of these options for the £500 contribution, then paying it off straight away. Would that be allowed, and would it work? Thank you
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Credit account commandeers cash refund
I have a credit account with Very/Shop Direct. I had approximately £820 balance of credit purchases. I bought a large item for £600, which I paid in full (not on credit). Returned the item as it was faulty. Faulty returned accepted and I’m told a cheque will be sent for the refund. No cheque arrived. I queried this and…
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getting a loan is the problem - any solution ?
Not sure whether this is a loan or a creditcard im after. Homeowner ( with mortage ), i have 4 credit cards, approx £9000 worth of debt -paying interest. Bit of a mess. Cannot get a loan, i assume because of the 4creditcards, used to , and never had issues paying back , tesco, sainsburys etc loans. So - ideally, a loan of…
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Loan for New Car
Hi all, I’m posting here on behalf of my wife. She wants to buy a new second hand car, the one we have seen is pretty good condition, low mileage 2010, £6,700. We have put a holding deposit on it of £250, this lasts until Thursday. She wants to get a loan of about £6k to pay for the car. She’s had several offers but of…
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Loan option
Hi, I am wondering which loan to apply for. I have 2 options available to me. One for the amount I want, second for a higher amount than I need but with a higher chance of acceptance. What are possible options? Maybe second to help get it over the line and then pay back what I don’t need straight away. thanks.
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Ratesetter - Early repayment
Hi all, I need a loan. Ratesetter will give me £4500. Total repayable is £5700. High interest. This SHOULDN'T be a problem as I intend on repaying early, by overpaying and using my current car sale to pay off a chunk. My question, If I make, for example an overpayment of £2000, is the £2000 coming off of the £4500, or the…
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Help - Can a creditor transfer a personal loan to another company (non-delinquent)
Hi, Please can anyone familiar with this advise, I have a loan worth £3000 with a company and I found out this morning (with no notice from them) that they have sold the rights to the loan agreement to another company. My first question, is this legal? I'm sure it is, but maybe it needs to be specified in the loan…
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Black Horse declined my application- HELP
Today I went to motorpoint to view a car I was interested in. My current car is fully paid off so I owe nothing. Did had some difficulties in the past being out of work and struggled to pay for the car, bills etc one defaulted which will stay on my file 6 years, the rest missed payments, all updated and paid off. So had no…
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Personal Contract Hire
I’m not sure if this is the right board but I hope so - if not please point me in the right direction. I got a PCH in the middle of 2019 with an annual mileage allowance of 10K on a 36 month term. As a result of Covid and the national lockdown(s), I find myself in the position of having done less that 10k miles in total at…
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New Car PCP - Agreed February, Car Delivered, Dealer now insisting on New % Rate Set at Huge Cost.
Evening all. Not sure this in the right section but I could use some serious input to this situation we find ourselves in. I will explain the background and where we find ourselves today. We committed to a new car, at significant cost from a major brand and from a large dealership via the brand's finance division. We…
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PCP Car Loan Front Loaded interest?
Hi all, We've recently (5 months ago) taken out a PCP loan on a car. Cost was £21k, put down a £4k deposit, for £17k outstanding credit with APR 9.9%. The total repayable figure in the contract is basically £26k. I was looking at my credit report the other day and it said the outstanding balance for the loan was £21k!! I…
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Behaviour of MBNA
Two weeks ago I applied to MBNA, through the MoneySupermarket website, for a personal loan of £7,000 towards buying a car. I got approval quickly and on Monday 7th November received a loan agreement by email. The covering email told me I should receive the loan within 3-5 working days. A week later, with no communication…
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Barclays Partner Finance - when do they actually take payment?
I set up a 24 month 0% agreement with Barclays Partner Finance for a new iPhone which all went through OK, and was advised my first payment would be taken from my bank account (NatWest) on 21/11/22 i.e. today But so far they've not taken any payment, and I can't see a direct debit set up for doing so (don't know if they…
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How easy is it to swap cars on finance deals?
Before I cut to the chase, I’m wanting to borrow more against my car finance and change my car. I’m wondering what the likelihood of keeping the same interest rate would be? As well as how easy is it to change a car over on an agreement? Basically I currently have a BMW 330e. I paid a large deposit on purchase and pay £251…
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Old and new Student loan
My daughter has graduated this year (so has three years of student loans). She’s taking a year out and plans to do PGCE next year. I didn’t realise PGCE is funded using the undergraduate student loan system. I wish she’d applied for this year as now she’s going to have to be funded under the new system for PGCE. I’m not…
