Hi just wondering if anyone knows if a loan company which offers lower monthly repayments. I currently have a loan of about 6k which i pay 165 a month for but have now run up my overdraft and card to about 4k soo looking at hopefully putting it on to one loan and would like monthly repayments to be about 100. I know it will take me long time to pay this off but just had baby and money is tight and have no spare cash to pay off my overdraft and card only paying minimum payment and charges each month. Thanks
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Low repayment loans?
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Consolidating a car hp and 2 loans into one, advice?
Hi all
i have just taken a new job on, and am looking to re finance my loans all into one bundle on an unsecured basis
i have poor credit history (i might add this for the last 5 years has been superb but is due to issues before that)
i have loans in the region of 12000 which include car finance at 6000 to pay off if i pay now, 5000 to the failed north yorkshire credit union and 2000 elsewhere
they are rough guesses
can anyone advise of anywhere i could try to consolidate these into one loan?
i currently pay a total of 460 a month so would like to get it down a bit and if i pay the car off i save a fortune in interest i would pay on that too.
thanks
i dont own property, i rent currently
i have just taken a new job on, and am looking to re finance my loans all into one bundle on an unsecured basis
i have poor credit history (i might add this for the last 5 years has been superb but is due to issues before that)
i have loans in the region of 12000 which include car finance at 6000 to pay off if i pay now, 5000 to the failed north yorkshire credit union and 2000 elsewhere
they are rough guesses
can anyone advise of anywhere i could try to consolidate these into one loan?
i currently pay a total of 460 a month so would like to get it down a bit and if i pay the car off i save a fortune in interest i would pay on that too.
thanks
i dont own property, i rent currently
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Car hp but registered in someone else's name
Hi, I am hoping someone can help with my dilemma!
Due to poor credit my mum financed my car credit,
After 2 and a half years the massive increase in petrol etc i have decided to hand the car back as I was informed at the time of purchase by the salesman I could do this legally and start afresh.
I remember at the time he said the car would have to be registered in my mums name as the finance was through her, fine, when I collected the car he said he managed to have it registered in my name. None of this really meant anything to me until now, it seems I can't hand the car back as I am the registered owner and not the person who has the finance......what do I do?
Any help would be appreciated
Due to poor credit my mum financed my car credit,
After 2 and a half years the massive increase in petrol etc i have decided to hand the car back as I was informed at the time of purchase by the salesman I could do this legally and start afresh.
I remember at the time he said the car would have to be registered in my mums name as the finance was through her, fine, when I collected the car he said he managed to have it registered in my name. None of this really meant anything to me until now, it seems I can't hand the car back as I am the registered owner and not the person who has the finance......what do I do?
Any help would be appreciated
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Help - received a Wonga letter but don't have a loan
Hello,
I hope someone here can help us - we have a weird problem:
1 week or so ago we received a letter to our home address but in the name of a woman (Ms KH) who doesn't live here, and certainly hasn't for at least 10 years (while we've owned the house) and a couple of years before that (we knew the previous owners). We've never had any other post for this woman and don't recognise the name.
We wrote "Undelivered, not known at this address" on the envelope and posted it.
Yesterday we received a second letter identical to the first and my wife opened it.
It's from Wonga.com Collections Department (although the return address is PO Box 8743, Bellshill, ML4 3WU) and says that Ms KH took out a loan for £300 and now owes £360.
No what concerns me is that although it is not in our names the loan does seem to be against our home address and I'm worried this could adversely affect our credit score.
My wife tried to speak to someone at Wonga without success (goodness knows what 5 mins on the 0844 number cost) and I don't know what to try next.
So, wise MSE forum-dwellers, can you help please? What can you advise? What should we do?
Looking forward to your suggestions,
Paul
I hope someone here can help us - we have a weird problem:
1 week or so ago we received a letter to our home address but in the name of a woman (Ms KH) who doesn't live here, and certainly hasn't for at least 10 years (while we've owned the house) and a couple of years before that (we knew the previous owners). We've never had any other post for this woman and don't recognise the name.
We wrote "Undelivered, not known at this address" on the envelope and posted it.
Yesterday we received a second letter identical to the first and my wife opened it.
It's from Wonga.com Collections Department (although the return address is PO Box 8743, Bellshill, ML4 3WU) and says that Ms KH took out a loan for £300 and now owes £360.
No what concerns me is that although it is not in our names the loan does seem to be against our home address and I'm worried this could adversely affect our credit score.
My wife tried to speak to someone at Wonga without success (goodness knows what 5 mins on the 0844 number cost) and I don't know what to try next.
So, wise MSE forum-dwellers, can you help please? What can you advise? What should we do?
Looking forward to your suggestions,
Paul
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Help!
I recently applied for a loan with a company called Nationwide Loans 4 u. I do not have bad credit but I don't have a lot of credit history so it's hard for me to get credit but this company said no problem we can sort you out with a loan just pay us £49.99 and we'll go from there, I was obviously worried why they needed this but stupidly paid it. I then had to complete an application which I did, received a confirmation email saying another company would be able to lend me the money, waited a few days with nothing then contacted this company they said could help me, they'd never heard of me. Called Nationwide Loans 4 u back, oh sorry they said we made a mistake it's not them it's this company.....spoke to this other company they wanted a guarantor which was not part of the deal. Nationwide Loans 4 u then sent a letter saying we need your credit files, which I sent by recorded delivery, stupidly again!! They are now saying they haven't received them because they've recently moved?! The only address on their letterhead was their old address? What sort of company does this? Now every time I call, they find out who I am and put me on hold and never come back to the call! I don't know what else to do, they haven't supplied me with a loan but still kept my £49.99?! Complete cowboys who are obviously just conning everyone. More fool me for paying the money I suppose but with a company name like Nationwide I didn't think I'd be ripped off. Any advice would be most welcome. I also wanted to warn people not to go near these people as they will rob you!! Also now some random has my all my information on my credit files because the letter was signed for.
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Ridiculous Loan
Hi
My father-in-law past away a number of weeks ago and left me and his daughter as executors of his estate.
As part of his finances there was an outstanding Barclays Loan for £2900. After being chased constantly by Barclays Finance, we received documentation on the loan and the details were scary
Initial Loan Amount - £2900
Start Date - 9th Feb 2010
Loan Period - 120 months
Pay back amount - £61.47
Interest rate - 23.7%
Total Amount payable - £7376.40
This is a ridiculous about of money and Barclays continue to chase us for a total of £2800. I just don't understand why this value and they are not very helpful on the phone.
The estate assets are minimal and have to cover the cost of the funeral etc and very little will be left. Don't loans get written off when a person passes away. Or shouldn't they want back only the remainder of the capital loan which by my estimates should only be £1000
Any help or advice would be appreciated
Thanks
Craig
My father-in-law past away a number of weeks ago and left me and his daughter as executors of his estate.
As part of his finances there was an outstanding Barclays Loan for £2900. After being chased constantly by Barclays Finance, we received documentation on the loan and the details were scary
Initial Loan Amount - £2900
Start Date - 9th Feb 2010
Loan Period - 120 months
Pay back amount - £61.47
Interest rate - 23.7%
Total Amount payable - £7376.40
This is a ridiculous about of money and Barclays continue to chase us for a total of £2800. I just don't understand why this value and they are not very helpful on the phone.
The estate assets are minimal and have to cover the cost of the funeral etc and very little will be left. Don't loans get written off when a person passes away. Or shouldn't they want back only the remainder of the capital loan which by my estimates should only be £1000
Any help or advice would be appreciated
Thanks
Craig
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MSE News: Northern Rock falsely told borrowers they had legal protection
"Many Northern Rock customers have discovered their loans are not protected by the Consumer Credit Act (CCA), despite having documents which say they're covered...."
Read the full story:
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Dont use wonga
I earn 50k plus a year but had been using Wonga as cash-flow for my husbands business - whoops ! Along with a handful of 'missed payments' (catalogue and phone taking money at an awkward time of the month) it means I have just been turned down for a mortgage and have a 'very poor' credit rating !!!?
I was also rated as "using 75% of available credit' - yes cos I paid of 12k of loans cash last Spring and reduced all my overdrafts ....
I was also rated as "using 75% of available credit' - yes cos I paid of 12k of loans cash last Spring and reduced all my overdrafts ....
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Glad he asked me first.....
My son arrived this morning to ask me what my opinion on Money Shop is. A year ago, before I joined this site, I would have been pretty clueless, as I have never had any dealings with this kind of thing. However, as I am a long term lurker now I feel I am well up to date with how far away you should stay from them!
The story is, his 'friend' has asked him to take out £100 from the Money Shop, and he will.....you guessed it, pay it back when it's due! He came up with the usual sob story, it's christmas, he doesn't get paid until after, blah, blah blah.....
Well, because of the brilliant folk on this forum I was ready for every question he put to me! Should he do it? NO. Would I do it for a friend who was desperate? NO.
We ended up having a discussion about finance in general, and these kind of businesses in particular, and he was impressed when I was able to tell him the APR on £100 over 30 days would be around 260%....and when I explained what would happen when his 'friend' told him he had paid it on time and in full (but hadn't) how they would raid my son's bank account and take everything - legally - that was owed. And that it would be a lot more than £100 :eek:
After I'd also pointed out that my son's credit rating could be affected just by applying (he doesn't even have a credit card yet, he is 19 years old) the penny dropped and he realised that the reason his 'friend' couldn't apply under his own name is because his credit rating is already shot to sh*t and that he is being used.
The outcome of the story? He has promised he won't touch these lenders with a bargepole, and he is going to tell his 'friend' to man up and tell his mum the truth, that he can't afford to buy her a pressie this christmas due to his lack of being able to budget his finances. As I said, I'm sure she would prefer nothing than something paid for in this way.
And I ended up with a hug and a kiss for telling him like it is.......this hug and kiss I am passing on to you for educating me in the realities of going down this road.
Here's to a happy Money Shop free christmas. Thanks, and mwah :T
The story is, his 'friend' has asked him to take out £100 from the Money Shop, and he will.....you guessed it, pay it back when it's due! He came up with the usual sob story, it's christmas, he doesn't get paid until after, blah, blah blah.....
Well, because of the brilliant folk on this forum I was ready for every question he put to me! Should he do it? NO. Would I do it for a friend who was desperate? NO.
We ended up having a discussion about finance in general, and these kind of businesses in particular, and he was impressed when I was able to tell him the APR on £100 over 30 days would be around 260%....and when I explained what would happen when his 'friend' told him he had paid it on time and in full (but hadn't) how they would raid my son's bank account and take everything - legally - that was owed. And that it would be a lot more than £100 :eek:
After I'd also pointed out that my son's credit rating could be affected just by applying (he doesn't even have a credit card yet, he is 19 years old) the penny dropped and he realised that the reason his 'friend' couldn't apply under his own name is because his credit rating is already shot to sh*t and that he is being used.
The outcome of the story? He has promised he won't touch these lenders with a bargepole, and he is going to tell his 'friend' to man up and tell his mum the truth, that he can't afford to buy her a pressie this christmas due to his lack of being able to budget his finances. As I said, I'm sure she would prefer nothing than something paid for in this way.
And I ended up with a hug and a kiss for telling him like it is.......this hug and kiss I am passing on to you for educating me in the realities of going down this road.
Here's to a happy Money Shop free christmas. Thanks, and mwah :T
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Guarentor loans
Hi
I would like to borrow some money but have a desperately poor credit rating. Looking for loans that are available to me I keep seeing Guarantor loans the most common provider Amigo loans. The Apr is very high (49%) but the repayments are affordable now I have as job and partner is returning to work after a shortened maternity leave.
I've not heard of this type of loan before and cannot find anything on here about them? What are the pros and cons? Should I avoid at all costs? Does the guarantor know who I am and if I fail to repay am I likely to be pursued and threatened by the 3rd party?
Thanks in advance for any advise on this matter?
I would like to borrow some money but have a desperately poor credit rating. Looking for loans that are available to me I keep seeing Guarantor loans the most common provider Amigo loans. The Apr is very high (49%) but the repayments are affordable now I have as job and partner is returning to work after a shortened maternity leave.
I've not heard of this type of loan before and cannot find anything on here about them? What are the pros and cons? Should I avoid at all costs? Does the guarantor know who I am and if I fail to repay am I likely to be pursued and threatened by the 3rd party?
Thanks in advance for any advise on this matter?
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northern rock
Morning ,
Just read the article re incorrect paperwork generated by northern rock which may result in some customers receiving compensation. I have two loans with nr/nram :
A mortgage and an unsecured loan of £25000 which I am currently repaying via the CCCS . Both of these were taken out over 10yrs ago so I am not sure if that makes a difference ?
How can I check whether I am eligible or not ?
Thanks in advance .
Shaun .
Just read the article re incorrect paperwork generated by northern rock which may result in some customers receiving compensation. I have two loans with nr/nram :
A mortgage and an unsecured loan of £25000 which I am currently repaying via the CCCS . Both of these were taken out over 10yrs ago so I am not sure if that makes a difference ?
How can I check whether I am eligible or not ?
Thanks in advance .
Shaun .
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Credit enquiry?
Hi, i just wanted to ask a question. I am not a home owner. I have a monthly net income of £1670. I dnt pay rent as i live with my parents. I pay my home phone and broadband bills, i pay my mobile bills, i have an overdraft of £1600 on my current account. The one bad thing is i had a default in my past when i was a student, which was paid back in full (not written off). Since then (almost 3 years now) i have been in full time employment and have no other bad marks against me and all things paid on time. I currently put at least 800 pounds into my savings every month.
But im having a hard time getting a loan of £5000 to help cover sum immediate wedding costs. I dnt know any1 who is a home owner as all my friends rent.
Any ideas of what i can do to help my chances of getting a loan.
But im having a hard time getting a loan of £5000 to help cover sum immediate wedding costs. I dnt know any1 who is a home owner as all my friends rent.
Any ideas of what i can do to help my chances of getting a loan.
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The Cheque Centre
http://www.mirror.co.uk/news/uk-news...payday-1502853
If they had actually gone into the hospital I would be disgusted, they only spoke on the phone, he agreed to pay it back on payday. People always come up with excuses they could have just thought he was trying to pull a fast one.
They did what most PDL companies do, agree repayments then go back on their word, this one was prob only communicated over the phone.
No they shouldn't have done what they did but will PDLs ever change.
If they had actually gone into the hospital I would be disgusted, they only spoke on the phone, he agreed to pay it back on payday. People always come up with excuses they could have just thought he was trying to pull a fast one.
They did what most PDL companies do, agree repayments then go back on their word, this one was prob only communicated over the phone.
No they shouldn't have done what they did but will PDLs ever change.
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Loan problem...
Hi all, this one is very unusual.
I had a season ticket loan with my employer repayed from my salary monthly. I was made redundant after 15 years. I was told by HR to return the season ticket and collect a refund, then write the company a cheque. I did all this, collected the refund, duly wrote a cheque and sent it.
I then got a call saying I no longer owed the money, it was taken from my final salary payments (inc redundancy) and they would destroy the cheque. I genuinely believed the money was mine.
My wife and I spent the money (even though cautiously). 10 days later I receive another call and email (admitting the errors so I have it in writing) asking me to repay the money.
I no longer have the money to repay, my question is legally can I argue that fact and due to still being unemployed, not repay?
I have been to CAB and they pretty much think that as it is less than £1600 it would end up in small claims court and I would be imposed monthly payments at worst.
Thanks and Merry Xmas all!
I had a season ticket loan with my employer repayed from my salary monthly. I was made redundant after 15 years. I was told by HR to return the season ticket and collect a refund, then write the company a cheque. I did all this, collected the refund, duly wrote a cheque and sent it.
I then got a call saying I no longer owed the money, it was taken from my final salary payments (inc redundancy) and they would destroy the cheque. I genuinely believed the money was mine.
My wife and I spent the money (even though cautiously). 10 days later I receive another call and email (admitting the errors so I have it in writing) asking me to repay the money.
I no longer have the money to repay, my question is legally can I argue that fact and due to still being unemployed, not repay?
I have been to CAB and they pretty much think that as it is less than £1600 it would end up in small claims court and I would be imposed monthly payments at worst.
Thanks and Merry Xmas all!
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Alternate financing for university
Hello everyone,
Does anybody know of any alternate ways I can fund a years tuition at University? As I have had two years previous study already in Higher Education on different courses than the one I study currently, I am not eligible for funding for this year.
I have found a 'Professional and Career Development Loan' at barclays, and wonder if this is the best option? Unless other banks have competitive programmes?
Any advice or suggestions would be great! Thanks and Merry Christmas.
Chris
Does anybody know of any alternate ways I can fund a years tuition at University? As I have had two years previous study already in Higher Education on different courses than the one I study currently, I am not eligible for funding for this year.
I have found a 'Professional and Career Development Loan' at barclays, and wonder if this is the best option? Unless other banks have competitive programmes?
Any advice or suggestions would be great! Thanks and Merry Christmas.
Chris
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loansdirectuk.net
PLEASE dont log on to this company ...my daughter did (silly girl) and today Christmas Eve has found that nearly £200 has been taken from her bank account. It shows that they charge a £59.75 membership fee, not £200 to find you a loan which they haven't. Of course there is know one in the office today just a reception taking calls.
Called the bank to tell them its unauthorised transaction and they say the money not actually gone just earmarked and can't do anything til its gone and then they can look into it.
What a good Christmas this is going to be.
Called the bank to tell them its unauthorised transaction and they say the money not actually gone just earmarked and can't do anything til its gone and then they can look into it.
What a good Christmas this is going to be.
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Loan Sharks
I know asking anyone about loan sharks is always going to get comments but in the past I have been lucky enough to be able to borrow money (all be it at high interest rates) and it be okay. I am not working as I am off isck and don't have a good credit rating so always get turned down for loans no matter where I go to (banks, payday loans, internet companie, etc). Does anyone know someone who may be able to help me out pls?
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Small, Short Term Loan
Hi guys, new to the forum so I apologise if I am posting in the wrong thread. Basically I've got myself in to a bit of a silly situation over Christmas. Went on a few too many nights out, parties and over did the shopping a little. I owe my dad £400 for his CC bill which is due to be paid at the start of Jan. I currently have £235 here and just need a quick way of making up the rest. I was thinking an Argos store card, buy a PS3, sell it on Gumtree at a loss. Then I can settle the bill, pay off Argos when i get paid (20th Jan), close the account and never think about it again. I still live at home so I have no real bills to worry about apart from phone bill which has been paid for this month and January's will come out after pay day. I am happy to pay a bit of interest and take the hit on the loss to pay it. Just want to avoid Wonga etc. Thanks!
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Interest free credit - How does it work?
I get the basics as a consumer - You borrow x amount and if you repay it before the date specified you won't pay interest.
But for a retailer how does it work? I'll use DFS as an example.
They give you 4 years interest free credit, So if the suite costs £1000 and the credit is supplied by Bank A, Do Bank A pay DFS £1000? If so how does the bank make money? Or do the bank give DFS £900 and charge £100 for finance? Just incase someone pays off before the interest gets applied?
Just something I've been pondering.
But for a retailer how does it work? I'll use DFS as an example.
They give you 4 years interest free credit, So if the suite costs £1000 and the credit is supplied by Bank A, Do Bank A pay DFS £1000? If so how does the bank make money? Or do the bank give DFS £900 and charge £100 for finance? Just incase someone pays off before the interest gets applied?
Just something I've been pondering.
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Loans - what to do...
Hi all,
When i turned 18 i really abused my credit history, getting phones on contract, loans, credit cards etc which i couldnt exactly afford to pay back, at the the time i was really stupid and wasnt thinking about my future, now i am paying all my debts bit by bit but i'm struggling being accepted for a loan, contract etc everywhere and im now 22 near enough 23, when i turned 19 i became fully employed as a mechanic and had a really good wage (until 3 months ago when the business closed down!) but was still refused credit all the same even though i was earning over 20k a year!
Now i have moved into new accomodation and require some more furniture for the new flat im in but i cannot get a loan anywere! can someone shed some light whether my bank would be able to help me with this and who i should be speaking to?
im much more mature and feel as if i could repay a loan as im doing with all my old debts, really not very happy with this 'computer says no' just because i was silly 4 years or so ago!
When i turned 18 i really abused my credit history, getting phones on contract, loans, credit cards etc which i couldnt exactly afford to pay back, at the the time i was really stupid and wasnt thinking about my future, now i am paying all my debts bit by bit but i'm struggling being accepted for a loan, contract etc everywhere and im now 22 near enough 23, when i turned 19 i became fully employed as a mechanic and had a really good wage (until 3 months ago when the business closed down!) but was still refused credit all the same even though i was earning over 20k a year!
Now i have moved into new accomodation and require some more furniture for the new flat im in but i cannot get a loan anywere! can someone shed some light whether my bank would be able to help me with this and who i should be speaking to?
im much more mature and feel as if i could repay a loan as im doing with all my old debts, really not very happy with this 'computer says no' just because i was silly 4 years or so ago!
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