Getting a bank loan if you're not on the list....
#16
Re: Getting a bank loan if you're not on the list....
If he can pay a uae loan off in 6months then he can pay a credit card off. No bank here will want to put out a 6month loan and even if they did the upfront fees would not make it worth his while.
#17
Re: Getting a bank loan if you're not on the list....
Nope, it doesn't affect your credit rating at all.
#18
Re: Getting a bank loan if you're not on the list....
Basically call them, tell them you've moved abroad and want a full and final settlement figure for a one off payment to cancel your credit card.
Say you owe them £5,000, tell them you'll pay £2,500 for full and final (ie fully cleared), and you'll pay it in a given time, within a week for example.
The bank is charging interest on interest, if you've had it a while then they've made a shed load of cash off you.
The bank will come back with a counter offer, negotiate but don't pay more than 2/3rds of the full amount, ie, around £3,300.
As this is an agreed payment it wont affect your credit rating (or your mam's) but you will get your card cancelled.
Job sorted.
Say you owe them £5,000, tell them you'll pay £2,500 for full and final (ie fully cleared), and you'll pay it in a given time, within a week for example.
The bank is charging interest on interest, if you've had it a while then they've made a shed load of cash off you.
The bank will come back with a counter offer, negotiate but don't pay more than 2/3rds of the full amount, ie, around £3,300.
As this is an agreed payment it wont affect your credit rating (or your mam's) but you will get your card cancelled.
Job sorted.
RAK bank will give me a loan at 12%, I'm going to do that and clear my UK debts, makes life a lot easier and then get an HSBC credit card over here in case I need one.
#20
Re: Getting a bank loan if you're not on the list....
Even if you have the cash, still negotiate the final payment, banks take the pi$$ big time, wherever you are in the world.
#21
Re: Getting a bank loan if you're not on the list....
I know and it is nagging in your head all the time, so get it sorted out. You can always change your address so your Mam doesn't get the mail?
#22
Re: Getting a bank loan if you're not on the list....
This is such a shitty plan.
Pay the loan off - skip sandance this weekend and you have 300 quid towards it.
Pay the loan off - skip sandance this weekend and you have 300 quid towards it.
Last edited by Millhouse; May 7th 2013 at 7:26 am.
#23
Account Closed
Joined: Oct 2008
Posts: 2,502
Re: Getting a bank loan if you're not on the list....
If you've been paying £100 a month in interest for the last five years that's £6,000 in interest payments, or more than the total value of the debt.
Ye gods. Did you not do the maths earlier? You paid the bank £6,000 for the privilege of having a £5,000 credit card balance.
And you still spent money on fancy holidays, watches, clothes and I think even a camera.
I've never carried over a credit card balance - ever. It's just throwing money down the drain. I hope you learn from this.
Ye gods. Did you not do the maths earlier? You paid the bank £6,000 for the privilege of having a £5,000 credit card balance.
And you still spent money on fancy holidays, watches, clothes and I think even a camera.
I've never carried over a credit card balance - ever. It's just throwing money down the drain. I hope you learn from this.
#24
Re: Getting a bank loan if you're not on the list....
If you've been paying £100 a month in interest for the last five years that's £6,000 in interest payments, or more than the total value of the debt.
Ye gods. Did you not do the maths earlier? You paid the bank £6,000 for the privilege of having a £5,000 credit card balance.
And you still spent money on fancy holidays, watches, clothes and I think even a camera.
I've never carried over a credit card balance - ever. It's just throwing money down the drain. I hope you learn from this.
Ye gods. Did you not do the maths earlier? You paid the bank £6,000 for the privilege of having a £5,000 credit card balance.
And you still spent money on fancy holidays, watches, clothes and I think even a camera.
I've never carried over a credit card balance - ever. It's just throwing money down the drain. I hope you learn from this.
Give the guy a break, he asked for help and ideas, not some holier than thou sermon.
Jeez, what is it with certain people, so far up their own arses they're drowning in it.
#25
Re: Getting a bank loan if you're not on the list....
Heh, thanks for that but to be fair Ethos is right - I piss money all over the place and need to reign it in.