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Credit Card Loans min Payment forever
I have got myself into a bit of a problem with credit card debts. I owe 27k across 5 cards and my minimum payments each month are 824 pounds a month. I also have a loan i took out about 4 years ago for an extension on my house, so cant afford to pay more than the minimum payments. I would love to consolidate the credit…
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Paying back student loans
I’ve recently realised from my pay checks that I’ve been paying back by student loans, however I’m earning less that £21,000 per year so I don’t think I should be. I have an undergrad loan and a post grad loan, but I was sure you didn’t have to pay either back until you earned more than £21,000. Im unsure of the best way…
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Consolidation depression
I have two credit cards, totalling 15k, I am overpaying the smaller one to hopefully get it rid soon, to then overpay the bigger one (think it's called the snowball effect). I have tried to get a loan to pay them off quicker and cheaper. But although on a soft search I get accepted/100% eligible, when I fully apply I get…
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Home appreciation loans from the council seem to be a bad idea.
Home appreciation loans from the council seem to be a bad idea. If you are thinking of borrowing money in this way for your home improvements please think very carefully before you sign up. My grandson took out a Home appreciation loan via his local Council 9 years ago. He borrowed £10.000 He was given to understand that…
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Car hire purchase
Hi everyone, I have a quick question regarding car HP. I've bought my car on hight interest from one of the dealers because my credit history wasn't too good at the time, but now it is better and i was wondering if something can be done to reduce the repayment of it or settle it quicker by changing the car with the dealer…
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Personal Loan - Credit Agreement Form
Good afternoon everyone. Just a quick question please. This week I applied for a personal loan with Nationwide to be able to consolidate my other loans into one. The loan has been approved, money received and today I received the contract as well. Together with the contract it was another page, stating the fact that the…
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Tricky one. I need to raise £60K for a deposit on a buy-to-let maybe using pension?
Hello, I am 51. I recently discovered I have a pension pot from an old job that is worth £62K. I want to use this as a deposit for a buy-to-let house that I have found. The house value is £167k and it already has tenants in place (with a minimum years contract), paying £1100 per month. I thought I would be able to…
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STUDENT LOAN FRUSTRATION
I'm not sure this is the correct board but we are getting so frustrated with the student finance loan company Even at this late stage my daughter has been told she has zero grant. There is absolutely no reason for this. Both my wife and I are not high earners and have earnings combined well below any threshold. My son…
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Advice for a severely disabled couple - secured loan
Hi all Hoping someone could possibly advice me. It appears my Auntie and Uncle who are both severely disabled (deaf mute) were very poorly advised to take out a secured loan against their home in 2007 by their daughter. The loan was for £30,327.00 with a variable interest rate of 9.80%. It appears the loan is interest only…
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Car ownership after split
Hi all, Me and my partner of 8 years have recently split. In 2019 he took out a bank loan to purchase a new car for me as our old one wasn't suitable for us anymore (we'd just had a baby). Now I'm in a situation where the loan is in his name solely, he has been making the payments but I'm the registered keeper and have…
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Had IVA 2 years ago. Paid off. Options for career change loan (£10000).
Hi everyone, Thanks for allowing me to post in the forum. I'm a big fan of MSE and Martin Lewis. Anyway, my questions :-) I'm a 40 year old would-be career changer learning Software Engineering via a NON-university path that I'm very happy with. I've been doing so for approximately a year and a half whilst working full…
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Hsbc repayment reward
Hi just having a problem with hsbc I had a loan with three that I had 1 payment left I have rang about the reward which I was told about in the branch that they said I would receive they are know saying I will not get it unfortunately I have moved house and can't find the paperwork but I was told for sure I qualified for…
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Two year homeowner, bought council house under Right To Buy, paid cash. Unable to find secured loan.
Hi all help or suggestions gratefully received. Two years ago, we bought our council house and paid cash with an inheritance. We are now looking to build a single storey wrap-around extension and require funding for it. We recently had a mortgage in principal agreed but when it came to the application phone call with the…
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How to loan money to partner
Advice needed: My partner is paying about £100 in interest on approx £5000 of debt a month. I have the money to loan him to clear off that debt and instead he can pay me back monthly. It makes sense rather than loosing the interest! We would make a written arrangement, even though I have no doubt at all that he would…
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Early Repayment Of Student Loan (as an expat in the US)
Hi guys, I was just hoping to get a little advice, if possible. I now live in the US and don't plan on coming back to the UK in the near future. I still have some outstanding student loans left in the UK and have left sufficient money in a UK account to cover the cost of the loan repayment. The issue I have is that as a…
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Lantern UK - Help!!
So. A few years ago I was really struggled with money, took a few payday loans out. Which most certainly shouldnt have been allowed as I literally used to put my wage BACK into the loan to pay it off then take it back out. Anyway, turns out I had a sunny account that I didnt clear and have recently received this email. Any…
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Urgent help please
I am looking for some advice. I have a secured loan through Barclays, which was transferred to Elderbridge after a period of financial worries left my account in arrears. I cannot take any more worry over this loan. So I wrote to them asking for help and to see if they could remove any of the financial penalties on the…
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Bounce back business loan
Last year I took out a bounce back business loan as I was a ltd company but the only employer of the company and was not receiving any other financial help during the coronavirus pandemic. I have recently become employed and therefore no longer require my ltd company. Do I still have to pay the business loan?
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36m car loan but the car broke down after 14months
Hi MSE community, a friend is 14 months into a 36 month (£6000) car loan agreement with Moneyway. Unfortunately his car broke down due to a major fault with the gearbox which will cost £1700 to fix. I just wondered whether any know if the finance company (Moneyway) has a part to play in the repair?
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HELP TO BUY
Hello, was just looking for some help as i cant seem to find my help to buy documents. I bought a home 3 years ago, new build through help to buy, the price of the house was £100,000, £5000 deposit, £75,000 mortgage and help to buy equity loan of £20,000, i pay the management fee of £1 per month at the moment, i know i…
