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General Melchett

Have You Ever Used Credit/loans?

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Just wondering......

We wont count mortgages or credit cards/loans (edited to clarify) you could pay off that month. Any other personal debt counts as a Yes.

I'll maybe allow the odd overdraft, so long as you were under 25 and it was less than a grand?

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Just wondering......

We wont count mortgages or credit cards you could pay off that month. Any other personal debt counts as a Yes.

I'll maybe allow the odd overdraft, so long as you were under 25 and it was less than a grand?

I've just voted "No" but does a £12/month phone contract (taken mainly to increase my credit history and that I always had money to pay for in full) count?

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Student loan, personal loan ( to buy a car), hire purchase car loan, interest free credit for sofas/kitchen, most recently a tax free bike.

Not quite sure what the point of this, most of us are normal and will have had credit at some point.

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Yes i have,

i wrote a very long post/thread on here about it, but i cant find it, i remember CCC replied and a few others.

i wrote the post/thread arround 22nd March this year

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Student loan, personal loan ( to buy a car), hire purchase car loan, interest free credit for sofas/kitchen, most recently a tax free bike.

Not quite sure what the point of this, most of us are normal and will have had credit at some point.

did you read the poll question?

Ever taken out a loan or run up CC debt you couldnt pay off that month?

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Yes i have,

i wrote a very long post/thread on here about it, but i cant find it, i remember CCC replied and a few others.

i wrote the post/thread arround 22nd March this year

Sorry missed that. Still, bump/link to it by all means. On any given forum, a number of questions will keep coming up, depending on the interest of the forum.

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Sorry missed that. Still, bump/link to it by all means.

i would, but i just cant find it on here, the search function on here is not "friendly".

fully prepared ot be proved wrong though

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Does it mean couldn't meet the minimum payment that month or that you couldnt clear the entire balance that month if you wanted too.

Scratches head. Sorry, it's late and I dont understand your question. How about, instead of me being the arbiter, you decide, based on what you think the intent of the poll is?

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AUD$3000 ish student fees government imposed loan at RPI. Didn't pay a penny of it for 18 years, then cleared it for about $4200 last year. 40% interest over 18 years. As we know, RPI always underestimates true inflation, so I figure I made on the deal by not paying it off at the start.

£5,000 graduate loan after university to pay for a 2nd hand car and basic set up costs to live and work in a new town. I was skint and living in a foreign country, so there really was no other way. Paid off over three years.

£25,000 to consolidate someone else's debts and use my credit rating to lower their interest payments. They paid me the premium each month until the loan was cleared - 4.5 years or so. The benefit to me of this was to improve my credit score in case I wanted to take out a mortgage. (I'd offered to lend them the money out of my own cash at a better interest rate, but they felt better about owing it to a bank via me than directly to me.) There are very few people on the planet I would have taken that sort of financial risk with. I'm glad my judgment of them proved correct - otherwise I'd now be £25k in the hole... :lol::(

The £25k loan was quite disturbingly easy to get at the height of easy credit. I applied online to a well known internet bank; dissembled about what I wanted it for; and they deposited it in my account within a few days at 5.6% interest. No proof of earnings. No documentation. Just "tell us a story and state how much you earn and we will throw £25,000 into your account." They may have even had a check box list of reasons iirc. (That's right, you don't even have to think up your own lie; they conveniently supplied you with a list to chose from.) This was late 2004 or early 2005. I couldn't believe it. I went and bought another £10k worth of gold straight away (honestly!) In hindsight I wish I'd borrowed another £25k at 5.6% and bought even more!

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I did when I started work and needed a car that was going to be at least semi-reliable, as well as a student loan. Never used the credit card for genuine credit though.

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Just wondering......

We wont count mortgages or credit cards/loans (edited to clarify) you could pay off that month. Any other personal debt counts as a Yes.

I'll maybe allow the odd overdraft, so long as you were under 25 and it was less than a grand?

Yes, once.

When I got a job in Swindon and was living in Bath, I bought an annual season ticket for the train. I think that one took three months or so to pay off.

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Yes, once.

When I got a job in Swindon and was living in Bath, I bought an annual season ticket for the train. I think that one took three months or so to pay off.

I'm not a Fundamentalist, i'll take that as a 'No.' laugh.gif

I didnt want to bore myself and all of you by writing ten pages of small print describing exactly what counts and what doesnt.

I used to take an interest free loan for an annual season from an employer, but I could have paid for the season outright, it just didnt make sense to because of the interest free loan. That's why I used the phrase 'could have paid off.'

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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