-
Sunny Payday Loans - Proving a Debt
I took out a Sunny (who no longer exist) payday loan in October 2014 when times were hard. At the end of that year I am certain that I paid the loan off when I came into a sum of money. Since that time I had moved home address several times. Jump forward to January 2021, I have received an email from Lantern Debt Recovery…
-
Parent took out a loan for home improvements but changed their mind
My mother took out a loan to help me out with debt. The reason stated on the loan application was 'home improvements'. She was considering getting home improvements but decided to help me instead and we will sort out home improvements over time. Can she or I get into trouble for this?
-
Erudio Student Loan - HELP!
Hi. I have 3 student loans from '94, '95 and '96. I have always been able to defer repayment until this year when they said I was over the threshold. My net monthly income is only £961 but as a single parent of 2 children, I also receive housing benefit, child benefit and universal credit, all of which tipped me over the…
-
Getting a loan for a Masters Degree
Hi everyone, I am hoping to get a bank loan to help towards the payment of Post Graduate Certificate and Masters Degree. I’ve calculated that I would need to borrow £10,000 across 5 years. I am wondering if I need to improve my credit score to increase my chances of receiving this. I know getting a credit card could help…
-
When Midland Bank changed to HSBC....
Hi new member Back in
the late Nineties when I had finally finished a private research programme of
my own jointly with Loughborough University, I was really pleased when I was
subsequently invited to attend a seminar at Stockholm University to read a
Paper on it, that had by then already taken me about 4 or 5 years to…
-
Null and Void Loan Agreement?!
Good Afternoon All, My Partner took out a loan to pay for a course - he has received the attached email from the Company that provided the Loan Agreement. Has anyone else received this? What does this actually mean? Can we dispute that the loan agreement is null and void? Any help would be appreciated. Many thanks!
-
Soft searches for loans says I’m not eligible
So I have just moved into a new house today and I’m wondering if this is the cause of not being eligible for loans. I have changed my bank account address, updated my electoral roll address. Do you think it will take a week or 2 for my new address to be updated with credit reporting agencies? Is there anything else I can…
-
Moral dilemma: loan for family member settlement
Hi all About two years ago I took out a four year loan at a low APR on behalf of a family Member to get them out of a tight spot. I did this off my own back, I wasn’t asked, and I am able to afford to pay the payments even if the family member did not pay me so there was no “danger” beyond being out of pocket - a risk I…
-
Advise needed quickly on interest maximum amount.
What is the maximum interest that can be charged on a loan of £400 over 77 weeks ? The loan company have this on the agreement . . . Interest is charged at a simple fixed interest rate of 207.6% per annum on the amount of credit for the term and is applied to the account, in full at the commencement of the agreement. APR…
-
Remortgage, Equity Release, Refinance help
Hi, Are all these 3 words mean the same thing? If not... On a freehold property that is debts/mortgage been paid off on it (cleared), the question is if I want liquid cash from it without selling the whole house then what financial service I go for that has the lowest rates? How does the following scenario works? As we all…
-
Additional Mortgage borrowing vs Car financing loan
My 14 year old car is on its death bed, its done 188K miles. I have my eyes on a car around 40k My options 1. use up all my easily liquidatable savings and skimp for another couple of months and buy the car outright 2. Hire purchase/Car finance with high street banks - APR of 6.7% over 5 years(most rates are higher!). I…
-
Loan not taking payments
So I took a small loan out in July for a car purchase. I've just checked my credit file and it doesn't look like any payments have been made. Checked my bank statements and they haven't taken any payments. Obviously the right thing to do is contact them and alert them but my question is will they expect me to make the…
-
Historical Interest Rates
I wonder if anyone would assist me please. In July 2015 my parent loaned a large sum of money to a relative. Relative took a while to start paying back the money, and I'd say that 90% of the capital has now been repaid. The relative said they would pay interest, and I've calculated that the interest rate offered was 2.4%…
-
Self-employed on a low income needs a loaned £3-4k buffer cash to be repaid within 2 years
Hi everyone. I am a single, childless window cleaner. I live in a rented room in a house of multiple occupation and my average monthly income (after NI and zero income tax) is about £860. I have a credit card with a £2,100 credit limit, but I need access to about £3-4k more. I tried to borrow the money via Nationwide, but…
-
Personal loan to invest in my business
I need a personal loan to invest in my business. I think I need between £5,000 and £7,000 (I haven't finished working out the final costs yet), but the problem is that I am disabled and on benefits. My yearly income is about £12,000. I have had a credit card and an overdraft since I was 18 (I'm 36 now), and I have never…
-
Thousands of Amigo borrowers expected to get back less than half of what they're owed
Thousands of Amigo borrowers expected to get back less than half of what they're owed - but it's more than the payouts initially proposed. Read the full story here. Click reply below to discuss. If you haven’t already, join the forum to reply.
-
SLC Postgraduate Loan 2016-17 Interest Charges
In 2016 I received a Postgraduate Loan from the Student Loans Company (SLC) for a 1 year full-time MSc for the academic year 2016/17. This was the first year that such a loan was made available. I graduated in December 2017 and was in full-time employment earning above the minimum repayment threshold in April 2018. Section…
-
Right of Withdrawal on Loan Agreement : Credit file query
Hi, I took out a loan but my circumstances changed and luckily I was still within the right of withdrawal before
the end of 14 calendar days from when the loan was taken out. I paid the loan I obtained fully back the next day after I notified them of my intention to withdraw from the loan agreement. How should this be…
-
My Address has been used fraudulently for a loan
Hi I opened some post today and found that one of the letters was not for me, but from a debt collection agency called Merligen in another person's name but using my postal and residential address. I have lived at my address for over 20 years and my husband's mother lived there before that for at least 20. No tenants or…
-
How to calculate a loan interest precisely ?
Hi All, In 2017 I had a 15K loan from Sainsbury's which advertised for 2.8%APR but they pushed it up to 8.1% for 3 years which they deferred the payment to two months later ( I did not ask for it ) and I thought it was free as they said it's 36 payments ( good trick for my ignorant ) with payment of £474.88pcm.which I, as…
