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Loans

Discuss all types of personal loan. Remember MSE's stance on loans: 'borrow as little as possible, repay as quickly as possible'.

Erudio Student Loans...moratorium
Just looking for some advice to see if anybody else knows about the Erudio/ SLC moratorium? I’ve copied and pasted the email I sent to Erudio...so far had zero response 😏 I have three historic loans with Erudio from the years 97/98/99 which are due for repayment in June 21. I also have type 1 and type 2 loan with SLC as I…
New and old finance to overlap.
I have a car on a PCP which no longer suits my purpose. I need a larger car due to family addition. The supplying dealer is offering a very good price for my car for p/ex or not. Unfortunately they do not have a model that suits. Due to my age I don't want to take on a vast amount of finance and so want to buy a cheaper…
Guarantor Loans Complaints
Hi, I'm not sure if anyone can help me, I'm new here. I recently opened up two complaints with Amigo and UK Credit for the mis selling of guarantor loans. I requested these were looked in to by the company as I felt these were mis-sold to me on the basis of my financial situation along with the hardship and further…
TSB not accepting repayment plan?
Hi, I have a loan with TSB and due to a few personal reasons, I’ve been swimming in debt and have started a self managed DMP with all of my creditors individually. However, TSB are the ones causing me grief. I’ve phoned twice with my income and expenditure and they said there’s nothing they can do to help me and to contact…
What do I do
Just heard about provident today . As existing customers do we carry on with repayments or will it be taken over by another company ? Any help would be appreciated
Mortgage taken out in Orlando Florida and foreclosed on.
Hi I took out a Mortgage in Orlando Florida on a timeshare property which was foreclosed on and sold for One Dollar,The mortgage was arranged and all the papers signed in Orlando under Florida Law at an exchange rate of 2 Dollars to the Pound but the debt was sold to a company in Britain and have put a charge on my…
Ombudsman taking 18 months
I have been fighting v12 retail finance for the last 2 years, based on wrong information, false reports on my credit file and changing my payment plan without telling me. I complained to the Ombudsman in December 2019, they never acknowledged the complaint till May 2020 and I'm still waiting for a resolution today. Each…
Combining loans
Hi, I have two loans from two different banks and a credit card from Aqua. Is there a way to combine them all so I can just pay a one off payment each month. I get so confused with the current system of two direct debits and then having to make a payment to Aqua and would rather do a lump payment each month. Any advice…
RateSetter loan - Pay off early.
Hi, guys, just looking for some advice RE paying off a RateSetter loan of early to avoid the interest. It is currently at 11.9%, which when I was applying to buy the car I thought nothing of (excitement took over!) I'm paying £162.83 a month and £34.57 of that is interest! There's £5,821.56 remaining, and the car if i was…
Business Loans (bounce back) - will it show on credit report if defaulted?
Hi - I'm a director in a company and received a bounce back loan. As I am in the UK under a spouse visa with a renewal due every 2.5 years I want to know in the event the business fails or I default on the bounce back loan will that show up on a credit check the home office carries out ? Is there anyway I can check this…
Car manufacturers finance and registration
I am trying to buy a car for my ex wife, we are separated and I will be the financier but she will be the registers keeper. I was advised this will not be possible as the finance and keeper need to be the same for the first vehicle registration. Is this accurate.
Car Loan from Parent
My wife and I have kindly been offered a loan from her mother to avoid car finance. We have agreed a payment schedule but wondered if there were any tax implications as a result. The amount is more than the £3k gift allowance but as its a loan is this relevant? Thanks.
Loan for £50,000
Hi I would like to take a loan for £50,000. I have a mortgage payment of £816 pm and my salary is £38889 pa. I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found. Please suggest what is the best way of getting this loan. Thanks and any suggestions will be really…
Reducing payments
Hi, I am struggling to meet my payments due to a change in circumstances, although haven't defaulted. Am I best to contact the loan company direct or go via a debt charity like step change to try and get my monthly payments decreased? I appreciate that either will ruin my credit rating but is there a better way to do it?…
Loan for hip replacement , mortgage free, on benefits
Good morning Hope this is in right Section My friend is needing a hip replacement op. Only 45 she has chronic arthritis and suffered a motorcycle accident yesrs ago She is on benefits sue to illness Mortgage free Completly Need advice on best way to raise money for operation Loan or mortgage please Best regards Will
Amigo - Full and Final
Just had a thought, I know that should Amigo fail (unlikely I know) but possible, to agree to their "Scheme" and go into liquidation. Would that be a good point to off a reduced Full and final settlement to see if they are desperate enough to take it? I have a loan, settlement is currently £1635 but if I pay all the…
Pay off loan?
A family member got a loan for me a couple of years ago I owe £6k on it and it a low rate. I have £6k savings should I clear it and be £220 a month better off and start saving again? Difficult
Paypal Credit changing T&C's and increasing APR
Hi all, Just received an email advising that Paypal Credit are changing their T&C's This is an extract from the email received The way to prevent this increase is by the looks of it is by closing the account I contacted Paypal and they confirmed that existing promotions will continue to end of term but if there is any…
HOIST FINANCE
I have received a letter from Hoist Finance saying they have taken my loan over from Robisnon Way. I have been paying RW £5 a month since 2012. But have always disputed that I owed the money to Lloyds, Due to a complaint at the time from 2010. I asked Hoist to get a copy of the original agreement which they are unable to…
Student Loan Write Off Loophole Discriminates Against People with Mental Illness
I am writing this with a sense of despair and anger. Honors Student Loans are using a loophole to prevent me from deferring my loans. They are using another rule that I consider discriminatory against anyone with a mental illness that prevents them from working. In my case, I've not been able to work since 2006. The…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Loans

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