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Need to borrow about £7k and repay most quickly

izoomzoom
izoomzoom Posts: 1,567
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I need to borrow about £7k and then hope to repay it within a few weeks, bar about £1.5k.

Any suggestions now to do this?

Comments

  • Gaz83
    Gaz83 Posts: 4,047
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    So... what you're saying is that you need to borrow about £7k and don't hope to repay it within a few weeks?
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • izoomzoom
    izoomzoom Posts: 1,567
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    Seriously, any suggestions how to do this?
  • Pixie5740
    Pixie5740 Posts: 14,515
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    Nothing legal springs to mind.
  • maginot
    maginot Posts: 484
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    Could try pawning some valuable items. Interest/charge may be high, but cheaper than a loan if only doing it short term.
  • CLAPTON
    CLAPTON Posts: 41,865
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    no reason to get a loan in the normal way

    then repay 5,500 after a few weeks

    why is that a problem?
    EU tariff on agricultual product 12.2%
    some dairy products 42.1% cloths 11.4%
    EU Clinical Trials Directive stops medical advances
  • Pixie5740
    Pixie5740 Posts: 14,515
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    CLAPTON wrote: »
    no reason to get a loan in the normal way

    then repay 5,500 after a few weeks

    why is that a problem?

    True but watch up for any early repayment charges.
  • izoomzoom
    izoomzoom Posts: 1,567
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    I'll make some enquiries at our bank tomorrow then.

    Hopefully there aren't early repayment penalties.
  • izoomzoom
    izoomzoom Posts: 1,567
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    ''You can repay your loan early in full or in part at any time. In addition to any other interest that’s due, we will charge you a fee equal to 30 days’ interest, calculated on the amount being repaid for a partial repayment or on the amount you owe us where you repay in full.''

    What does this mean exactly ?
  • CLAPTON
    CLAPTON Posts: 41,865
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    izoomzoom wrote: »
    ''You can repay your loan early in full or in part at any time. In addition to any other interest that’s due, we will charge you a fee equal to 30 days’ interest, calculated on the amount being repaid for a partial repayment or on the amount you owe us where you repay in full.''

    What does this mean exactly ?

    lets suppose you have a 10% APR interest rate

    and you repay say 5,000 early

    then you pay a fee of :
    5,000 x 30 (days) x 10%/365 = £42
    EU tariff on agricultual product 12.2%
    some dairy products 42.1% cloths 11.4%
    EU Clinical Trials Directive stops medical advances
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