What is a Secured Loan?
A secured debt can fall into two main categories:
What is a Secured Loan? Read More »
A secured debt can fall into two main categories:
What is a Secured Loan? Read More »
The answer to this will largely depend on your lender. Some lenders are stricter than others…
Can I Get a Mortgage with Mortgage Arrears? Read More »
If you have taken out a logbook loan, then in effect you have already handed the legal ownership of your car over to the lender. They are agreeing to allow you to continue to use it.
Logbook Loan Can They Take My Car? Read More »
Hire Purchase is most commonly used to buy cars; however, some businesses will use it to purchase expensive equipment. As long as you consistently make your repayments, once your payment term has ended, you will own the item outright.
What Happens if I Don’t Pay Hire Purchase? Read More »
Finance agreements and debts generally fall under two categories: secured or unsecured. Secured debt means that you have offered an asset as collateral, should you fail to pay the debt.
Is Secured or Unsecured Better? Read More »
Since the loan is usually for a large amount and tied to an asset, a lender is unlikely to write off the debt. If you are struggling with your repayments it’s important to contact your lender to see what help they may be able to give. It is essential that you don’t just stop paying.
Can Secured Loans Be Written Off? Read More »
If you are unable to pay your mortgage, then eventually your lender will repossess and sell your property to realise its value. If you have had your property repossessed then you may find that, once the property has been sold, you may still owe money to your lender or mortgage indemnity insurer.
Can Mortgage Debt Be Written Off? Read More »
Logbook loans are a way of borrowing money, secured against your car. It is called a logbook loan because you will hand over the V5c registration document for your vehicle (also called the Logbook).
What happens if I don’t pay my logbook loan? Read More »
The short answer is that you can cancel an agreement by contacting the lender and returning the item you purchased. However it is worth bearing in mind that you may still owe them money.
Can You Get Out of Hire Purchase? Read More »