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  • ANNE PARKER
    • #2
    • 25th Jun 08, 2:48 PM
    • #2
    • 25th Jun 08, 2:48 PM
    We Took Out A Loan With Barclays Over 7 Years For 30,000 And Made The First Repayment On 30 August 05. We Have Repaid 464.99 Every Month Since Then. I Requested An Early Settlement Figure Which Was Sent To Me On 3 May 08. Apparently We Had Paid Up To That Point 11,159.76 (total Payments) Which Included Interest Of 1681.98. On The Statement The Dr In Rate Is Listed Throughout As 3.00% (over Base). We Have Since Made The May Payment And Will Also Make The June Payment On 30 June. Can Anyone Tell Me Ehwhat We Have To Repay To Settle This Loan In Full? This Was A Flexible Business Loan Which We Have Remortgaged To Pay Off. We Were Also Charge 300.00 To Set The Loan Up - This Appears To Have Been Added To The Total Of The Loan Making It Effectively 30,300.

    Any Help With This Would Be Gratefully Received - We Obviously Want To Make Sure Ew Do Not Pay Too Much Back - Basically What Is The Minimum We Can Pay To Clear This Loan. We Have 19k Avaialable To Put In.

    Annie
  • BigSaver
    • #3
    • 17th Jun 09, 10:46 PM
    Personal loan to Credit card
    • #3
    • 17th Jun 09, 10:46 PM
    How would I go about transferring a 4,000 personal loan to a credit card and occurring no fees or the lowest possible?

    Thank you
    • Ads1
    • By Ads1 5th Aug 09, 10:55 AM
    • 18 Posts
    • 1 Thanks
    Ads1
    • #4
    • 5th Aug 09, 10:55 AM
    Repaying Northern rock loan
    • #4
    • 5th Aug 09, 10:55 AM
    Hi all, I am new to this forum although been signed up to the newsletter for some time.

    I have a loan with norther rock with a year left to run. It seems that my loan is subject to rule 78. The loan was taken out in June 2005.
    The loan amount was 10,500 at 6.9% apr.
    However when requesting a redemption statement it seems I only get a rebate of around 45.

    Is there any way around the rule of 78? Or as my loan started at the time the new law was introduced can I contest the rule of 78?:confused:

    Many thanks for any advice.
  • max101
    • #5
    • 3rd Jan 10, 8:39 PM
    Loan switch to reduce APR
    • #5
    • 3rd Jan 10, 8:39 PM
    I took out a loan in May to consolidate some debts. The loan amount was for 11,000 over 7 years at 248/month. The interest is 23%apr.

    I would like to try and switch this to a better rate as my credit rating is good. However i tried Sainsbury's for a loan but was refused, and i don't want to keep trying others as this will affect my credit rating, what would my options be to reduce this annual percentage rate.



    Thanks
    • woodbine
    • By woodbine 3rd Jan 10, 10:47 PM
    • 18,323 Posts
    • 24,707 Thanks
    woodbine
    • #6
    • 3rd Jan 10, 10:47 PM
    • #6
    • 3rd Jan 10, 10:47 PM
    why if your rating is good did you except an apr of 23% only last may?
    your options to reduce this are almost zilch if you cant get accepted for another loan.
  • Kazzer
    • #7
    • 7th Jan 10, 2:13 PM
    second loans
    • #7
    • 7th Jan 10, 2:13 PM
    Can you take out a second personal loan if you've already got an unsecured loan?
    QUOTE=MSE Lawrence;11971609]


    This thread is to specifically to discuss the content of the



    To discuss or ask a question about this article: click reply
    [/QUOTE]
  • Rob71
    • #8
    • 9th Jan 10, 12:17 PM
    • #8
    • 9th Jan 10, 12:17 PM
    Can you take out a second personal loan if you've already got an unsecured loan?
    Originally posted by Kazzer
    You can have as many personal loans as the loans companies see fit - that'll be based on your existing commitments and your income.

    I had 3 running concurrently in the past - just think of a loan as a credit card: most people (with a credit card) have more than one.

    I keep seeing people mention that your credit limit (the total of all loans/credit excluding mortgage) is 50% of your annual income. I don't know if that's strictly true, but that might help you decide whether it's worth applying for another loan or not.

    Personally I prefer the flexibility of a credit card - other people prefer to have regular payments that they can budget around.
    • woodbine
    • By woodbine 9th Jan 10, 9:58 PM
    • 18,323 Posts
    • 24,707 Thanks
    woodbine
    • #9
    • 9th Jan 10, 9:58 PM
    • #9
    • 9th Jan 10, 9:58 PM
    my outstanding loans plus avaliable credit on several cards is about 150% of my income
    • v_aleri
    • By v_aleri 23rd Feb 10, 1:38 PM
    • 20 Posts
    • 3 Thanks
    v_aleri
    Hi, there.
    Is there anyone able to show how loan interest are calculated?

    I took loan as part of mortgage from northern rock, 3 years ago.
    It was 22,200. int 5.89% for 32 years.
    So, remaining now, 21870.51. 29 years.

    Cause our earnings have increased slightly,
    I was thinking to switch this to shorter term loan.
    15000 from sainsbury for 5 years?

    How do I calculate if it's worth it to
    switch to shorter term with higher interest? (knowing in 5 years, it'll be paid off)
    or just to overpay current loan?

    Can anyone help please?
    • v_aleri
    • By v_aleri 23rd Feb 10, 2:26 PM
    • 20 Posts
    • 3 Thanks
    v_aleri
    Hi, there.
    I found a way with mortgage calculator and overpayment.
    And, apparently, if I overpay, it'll reduce the time anyway.
    So, It ended up similar with taking other loan.
    Sorry to bother.
    . looks like over payment current loan is the best
  • Noofywoo
    Hi, Have a car loan which is due to finish in Jan 11. Pay 154.95 per month, with final payment of 2800 in Jan 11 also. Coming into little bit of money next month and with that and savings would be able to pay off loan, is this the best thing to do? I was thinking of getting 0% credit card and transferring loan to that, putting money into high interest account and paying off loan in Jan as required using savings and hopefully getting bit of interest. Can anyone give me advice?

    Thanks Noofywoo
  • bex209
    Believe I won mis sold PPI....can I claim for loan now? :-s
    Hello

    Now I might be writting this and have put it in completey the wrong place so if I have I am really sorry.

    My fantasitc mum has been fighting HSBC with help of FSO regarding the PPI on my loan. Of course shes been on Martin Lewis site to find what info/letter to use and it seems to have worked!. The FOS have said HSBC have mis sold the PPI to me.

    (quick run through of what happened......I got out a loan. Then I went back a while later to get another one to help clear debts. My wages wouldnt help the loan go through so they used my then partners wages to help the loan go through (and of course it did!) Thing was loan was in just MY name! so the ppi was covering ME if I lost my job but not if me and my partner broke up....and yep you guessed it we broke up!. HSBC said they were not responsiable but FOS stepped in and have said HSBC have mis sold the PPI as where the loan was in just my name and a note on the system says they used my ex's wages it was me who was liable they should not have allowed it....(papers being processed with FOS/HSBC regarding payment once settlement done I shall post in sucess thred )...........

    So basically what I want to know is where HSBC now admit they have mis-sold the PPI on the loan due to my ex's wages can I fight for the loan to be wipped out? Where they are taking off the PPI payments I should be about 50 better off per month and at the moment I REALLY need every penny I get. So if I was able to fight the loan with a chance of winning I would be a LOT better off!!. Im not counting my chickens and all as I know the banks dont want to pay unless they HAVE to. Any help/info what ever anyone can give I would be very greatful. Thanks for reading
  • maturestud2010
    Student loan repayment and the 9% trap
    The big problem I'm facing in trying to paying back my student loan and stay out of further debt is that the 9% is straight from my salary and (obviously) alters according to how much I earn. If I try to earn more to clear debst, the SLC just takes more. What I need is to regularte the payments to something fixed. I have a mortgate, council tax, bills to pay and a car to run.
    Any suggestions on how I can find a way to fix the amount I pay back to the SLC?
    Secondly, my company are subtracting it from my gross salary - is this right? or should it be from the net salary after tax and pension?
  • crackaman
    Interest increase
    I got a time share loan out with my ex 2002 and in 2005 we split and I was left with the debt but I could not afford the the full repayment amount so we agreed I pay some and since then I have been struggling because they have been adding interest, so the loan was for 12,000 it is now up to 16,000 I spoke to them 2 yrs ago and they will not freeze the interest, so I will never pay off the Debt Please can anyone help me its getting to me.
    • woodbine
    • By woodbine 25th Aug 11, 10:32 PM
    • 18,323 Posts
    • 24,707 Thanks
    woodbine
    was the loan in joint names or just yours?
  • dpase
    I am in this exact situation....what did you do???



    How would I go about transferring a 4,000 personal loan to a credit card and occurring no fees or the lowest possible?

    Thank you
    Originally posted by BigSaver
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