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Trying to consolidate 3 loans
Hi, I currently have 3 loans, business loan with about £5,000 left at 6% (business is now closed) a personal loan with around £6,000 left at 3% & the last one is £2,000 at 26% I have tried to apply for a larger loan, hoping to get the 3% interest rate but no luck. Is there a way to get the 3% rate or another way to lower…
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Drydensfairfax/Student Loan ccj - help please!
I returned to UK a year ago from (9 years) overseas and have recently received letters from Drydensfairfax demanding full payment of my student loan. I had student loans with SLC from 1993-1996. When I finished my studies I deferred my payments until I moved overseas in 2012. As the threshold was different if you lived…
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How long does it take to improve Loan Affordability?
Hi everyone, I have taken out many credits between early 2020 and April 2022, from high street bank personal loans to payday loans, with APR from 5% to an insane percentage. But I didn't miss any payments. With the help of family, I paid off most of them this May. My annual income before tax is £40,000. Currently, I have…
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Loan options for £60,000
I am wondering if it would be possible for me to take out a loan in a few months time for home improvements costing £60,000 (loft conversion, move bathroom upstairs, kitchen, garden etc). The mortgage is £396,000 and our deposit was £80,000 (total house cost £475,000). We don’t have any further equity. Our joint income is…
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Is it good idea to pay back University Tuition Fees ?
I just had completed my University course and graduated. My student loan comprises Tuition fees for three years. £9250.00 x 3 = 27750.00 My outstanding balance as of today is £29717.31. I have a job offer of £31000.00 /annum and intend to start in September 2022. With the predicted rise of CPI by the end of this year,…
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Secured loan - could it be the right option?
Hi, I understand the aversion to them but I am looking at all options and will also be doing an soa on the DFW board aswell. I've got £24500 of debt built up over 4 cards. Majority is due to go to interest accruing shortly and whilst I'll manage, I won't really make much headway with the balances. I was looking at a…
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Is there such a loan available?
I quit my job to travel 4 years ago but it looks like my funds wont last until I get my pension in 2 years time. My pension is in a SIPP and is worth approx £1million. I need around £20,000 to see me through the next two years. Obviously I will easily be able to pay off a loan once I get my pension. Does anyone know if…
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Loan or Sell Shares?
I'm doing Home Improvements and need money fairly pronto. I have a lot of shares but they've heavily depreciated over the years and are at -34% of their original value. If I take a loan out now, I'm looking at a 10% interest rate. Over the term I've plugged in, I'll be paying back an extra £1,500 in interest over 4-5…
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Student finance calculation - nonsense or true ?
Finally after two years !! of back and forth and complaining to the CEO my wife and I finally have the income they used to calculate my daughters student finance. They seem to have got my income correct but my wife's income I just dont understand They say she earned £14k as a part-time sales manager which is correct but…
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Tesco Loan
Hi, I am looking to apply for Tesco Loan. One of the question it asks totals credit card limit. I have a very large credit limits on several cards. I wonder if anyone applied with too much available credit and still got accepted with Tesco Loan. The acceptance were showing 80% with there eligibility checker. Thanks MS
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Help with Loan
Hi My Wife has an outstanding Loan,which she is having difficulty paying. The current amount of the Loan is around £14000. She has been paying £480 a month for a while now, she hasn’t defaulted on the Loan but is finding it hard to keep the Payments up. She currently works part time on a Zero hour contract so isn’t…
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Add to Mortgage or Loan?
I guess there isn't a general rule of thumb with this but wondering what's a better avenue to explore? We want to borrow between £10,000 and £15,000. Mortgage is at 2.6%, £110,000 remaining, £625 a month, 19 years left. We could take out up to £14,000 and either pay £710 a month or add some years. Likely to do the latter.…
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Loan Overpayents - how does it work
Hello, I took out a loan a few months ago, and I knew I was going to be in a position to overpay after a short time. My question, what actually happens with the overpayment? I am aware that most loans have the interest front loaded, so at the start of the loan, the portion of the monthly payment that goes on interest is…
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Earning from a loan
HiMy son has a week left to decide if he wants a 25k loan over 5 years..at 2.9% he will pay back £1886 in interest...however if he put it in a high interest account at 3.45% he will earn £4699..is this legal? Kevin
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Loan company asks to access bank account
Top company on a MoneySavingExpert loan search-'Rate Setter' asked to access my personal bank account before they would approve my request. Is this normal these days?? I declined & chose a other loan provider.
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Warning about AA Loan Early Repayment
4 years ago I took out an AA Loan over 5 years (through this site). Recently I asked for a settlement quote as I had some spare money to pay off the loan early. I was surprised to get a settlement quote that didn't give any interest rebate for early repayment. When I contacted them about it I was informed that they load…
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To loan or mortgage
Hi everyone, My wife and I have been in the fortunate position of living loan and mortgage free for over 15yrs now. We are wishing to overhaul our gardens and patios etc. and are also contemplating creating two garden rooms. One for my home hybrid office and the other as a craft room. As we've been out of the loop with…
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Drydensfairfax demanding a financial review despite court agreement
Those lovely people at Drydens Fairfax have sent a letter stating "It is important that we contact you regularly to understand whether there have been any changes in your personal situation and review your repayment arrangement" along with their own 5 page "Standard Financial Statement" for me to complete and return within…
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Wedding/Engagement Rings in Pawnbroker Help Needed
My first post. I am new to the forum, hoping I have this in the right place. I am here to help a family member who has been victim to a huge trust fraud online. It's having some pretty far reaching effects on the family and though I work in finance, some of this stuff is very new to me. One of those new things, is Pawn…
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Bridging loan requirements
Hello, I am hoping to obtain a bridging loan however I am a little worried as I received a criminal record for fraud over 8 years ago. This was a one off mistake during a difficult time in my life, which I have learned a harsh lesson from. my question is, as the conviction is now spent and was over 8 years ago. Would I be…
