Paying a Loan Off Early And Pre-payment Penalties

signing papers

When you take out a loan, on the surface it may all seem so easy and simple. You complete a loan application, submit your details, the lender reviews the application, checks your credit history and credit score, and with some banks and lenders, within 24 hours, bam! The money is in your bank account. While […]

I Need Advice to Cancel a Loan

Question I need advice on how to cancel a loan I took out. I needed the money to buy a car, so I took out a personal loan for £5,000, but I got financing at the dealership, so I no longer need the loan. How can I cancel the loan? Cheers! Dan Answer Dan, There […]

I Can No Longer Afford To Repay My Partner’s Loan.

Question I took out a loan in my name to help my partner a few years back. I had been paying the loan as they had lost their job and had no income except for benefits. They got Universal Credit. We split up and now I have also lost my job as the company I […]

Debt And Credit In a Digital Age

Sometimes I cast my mind back, back to a time when if you needed a loan, you went to your local bank, spoke to the Bank Manager or Loan Officer, completed a loan application and waited. You waited for the loan committee to meet, usually on a Wednesday, and they approved your loan. In some […]

Getting a Loan After The Pandemic

To use the term, unprecedented, during the Covid Pandemic was an understatement! Not since 1918 and the Spanish Flu epidemic did we see such death rates, sickness, and countries being locked down, and life as we know it, changing forever. So much changed and had to change during the lock downs we experienced. Our shopping […]

A Trader Did Shoddy Work And I Do Not Want To Pay For It.

Question Jon I hope you can help me here. I bought new windows for my home and also had a conservatory added on. The trader who did the work put me in contact with a finance company who granted me the loan to have the work done. I signed all the papers, and the money […]

How Do Lenders Determine Affordability For a Loan?

When you apply for a loan, the bank or lender looks at two main factors: Your credit and credit score. Affordability, can you afford to repay the loan. When you apply for a loan and a lender looks at your credit report and credit score, it is a done deal. Your credit score is what […]

The World Of Credit And Lending Is Changing

The Covid pandemic has changed a lot of how we live and what we do. Who would have thought just 18 months ago we would be wearing face masks everywhere we go, getting vaccine jabs, working more from home, or being on furlough, and using so much hand sanitiser we cannot find it in stock […]

What Are The Two Main Factors In Getting Approved For a Loan?

Applying for a loan these days could not be easier, everything is done online. All our banking can be done online now as well. You can pay bills, transfer money, even pay in cheques using a mobile application. Cheques? When was the last time anyone used a cheque? The fact is with most things financial […]

What Are The Different Forms of Credit and Loans?

If you looking into the world of credit and loans, you may be surprised at the different types of credit that can be extended to you, and that credit is extended in the form of a loan. However, there are many different types of loans. Loans Fall Into Two Different Categories In discussing the various […]