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Irresponsible lending?
My adult son is struggling with his mental health and addiction. He lost his minimum pay job 4 months ago and haven't worked since, although he is trying hard to get another job. He gets £70 a week universal credit. He gets food and home with me. I refuse to give him money. I don't really have any to give but I will not…
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Mis sold loan
I am looking for some advice regarding what I believe is a missold loan from HSBC, some years ago I took out a business loan with the bank and was told I needed to sign a personal guarentee or they could not authorise the loan. Which I did relunctanly but was told the guarentee would only be in place for the duration of…
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Zopa loan final settlement payment help
Hi guys I have a loan with Zopa which I got a final settled figure that expired on the 12th March, I paid the full amount off on the 10th March and they didn’t take the payment out of my bank until the 13th, I waited a few days and checked the account and it’s still showing a balance and will now produce a new final…
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Loans company threatening court action, despite paying
I've been corresponding with emails back and forth with this company. They know I wish to make monthly payments, they know I'm in full time work. I just completed a income and expenditure form last week and proposed an increase in my monthly payment which they noted. They then sent an email on how to make these payments. I…
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Car Finance
Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a…
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Loan agreement letter
Hi, my son is 18 and decided to opt for credit over 6 years costing him £1700 in interest for eye surgery. The credit agreement has been accepted, and he has 14 days to change his mind. I agreed to lend him the money (I'll actually pay for the surgery using a 0% credit card) and he will pay me back interest free over 72…
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Settlement figure
I asked for a settlement figure on a loan in February which I was given and I paid, I now received a call today saying they had made a mistake and want and extra £219.00 how do I stand on this ??
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Black Horse repayment plan - credit ruined
I purchased a car financed by Black Horse around 4 years ago. During Covid I was made redundant, called them and we did the budget and they proposed a payment plan, that was helpful - so I did not pay anything for 3 months. Monthly rates went from £398 to around £441, which is what I still pay today. From what I remember,…
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Borrowing with 4.5% up front fee versus 6.4% ongoing
How should I weigh up which is better if I wanted to take some leverage on a short term basis between a 4.5% up front fee via a cash transfer card, versus a standard personal loan at 6.4%? Is it a simple matter that the 4.5% is better unless I am planning to pay it off very quickly within the first year? (I would generally…
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Nationwide old loan
Apology if this is on the wrong board . I have recently opened a Virgin Money ISA . Many years ago I had an unpaid loan with Nationwide which was written off due to long term sick /disabilty. If Nationwide were to take over Virgin Money could they come chasing to repay the loan from the ISA , or would it best to transfer…
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Get a loan with poor credit due to Lockdown
My wife & I are in our mid sixties & we lost our business of 30 years during & as a consequence of lockdown. We were amongst the few unable to receive any financial assistance from the Government. We used all our savings to survive & eventually had to claim Universal Credit. Therefore, mortgage, credit cards, loans &…
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I think I was ripped off by car dealer and my car finance company
Hello I am looking for some advice on my situation, if anyone can be so kind to offer any. Just over 2 years ago I took my old car in for a service and MOT at the garage I purchased it from (I had it just 12 month). During its service/ MOT they informed me that there was major problems with. the engine and the cost to…
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Type of loan
I own my property outright and have decided to sell it whilst I'm minded this may take a while, the property has a current value of £1.1M. I'm considering the release of some funds in the meantime in order to get back into the residential redevelopment market. I would not wish to take out a long term loan, thinking more…
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Disabled parents in their 80's have huge loan
As the title says. My parents Dad 86 mum 82. Dad has dementia, mum has been bed bound for just over three years. I have this weekend found out that that in November 2022 they took out a loan of £18,000, to cover credit cards that my dad had incurred. They are now in a situation where there care and rental payment are more…
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Provident sold my loan to debt collector!
I have two loans with provident and with their company collapsing I was advised to stop payments to them. i voted no to their bail out and in doing so I thought I was also lodging an unfair loan claim . since then I have had a number of messages from a company called capquest who appear to be trying to obtain the…
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"Pre-Approved" Loans not adhering to rates?!
Hi all, I needed to borrow some money so went through the MSE loan eligibility tool and the best option was an Admiral product which was "Pre-Approved" this means that if all checks go ok, the rate, amount and length are all as requested. This rate was 9.8% However I have just got an email asking to submit my ID and…
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Cash needed with short term repayment
Hi.We're recently retired in our early sixties. We own our own home, living in Northern Ireland and have small pensions. We need app £10k cash with a low interest repayment term of 2 to 3 years. What is the best way to fund this need? Is it something like a lifetime mortgage? Any help and advice would be greatly accepted…
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Loan v mortgage
I,m thinking of buying my council house, I,m thinking a need to borrow £25,000, I,m 53 and looking to pay either back after 10 years, but which would I be better with , loan/mortgage
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Applying for a personal loan when an existing loan search comes up?
Hi, I recently put in a credit application for a personal loan from the credit union I save with. I did this as I thought it would be a quick process instead of actually shopping around as their fixed rate is 6%. I think they’re going to reject my application due to the time I’ve been in my current job role (6 months),…
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Creation account query
I took out some credit via "Creation" in order to spread the cost of a B&Q kitchen that we were having installed. I thought this would be a good MSE thing to do as while we have the money in the bank it's earning at 5% whereas the Creation account is being paid off over 4 years at 0%. I have no doubts that we can afford…