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How Do You Become an Underwriter?

If you are considering a career in the world of insurance and loans, being an underwriter may be an option you are seriously looking into. What is underwriting? For clarity’s sake, an underwriter is responsible for the process of underwriting. Underwriting takes place when financial lenders are reviewing an application in order to make a final decision on whether the applicant is suitable. This they are, the underwriter will approve the loan. An underwriter could be an individual or team of people who carry out the process. These people make their decisions based on a series of checks, behaviour and […]

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What went wrong with Wonga?

You may have heard the news that Wonga, the loans provider, has gone into administration. This is despite only six years ago, the founder of Wonga describing the payday lender as a “platform for the future of financial services”. However, clearly, it does seem that the future did not work out as the had wished it to. But what actually went wrong? In this guide, we are going to be discussing where Wonga went so wrong to result in administration. In August 2018, Wonga held emergency talks with the Financial Conduct Authority (FCA) to do with the impact of its […]

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Why haven’t I received the interest rate advertised for my loan?

Have you recently applied for a payday loan and have been accepted for credit, but are confused as to why you haven’t ended up receiving the stated interest rate for it? Perhaps this has left you feeling particularly dumbfounded as you have homeowner state, are in steady employment, and you even have a good credit score, meaning that you expected to receive the rate advertised. As a result, you may be wondering why this has happened. In this article, we take a look at the main reasons why you may not necessarily end up receiving the rate seen on a […]

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Three months till Christmas – how you can plan ahead

It might still be summer, and winter may feel many moons’s ahead, but did you know that it is just 16 weeks away, meaning that for the majority of people who are working across the UK, that equates to just three or four paydays left in total? It can often be the case that we put off putting away the pennies for the Christmas period thinking that it is far too early to start saving, yet we can often end being in the same situation year in, year out, where we’ve suddenly left it too late, and end up with […]

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How to complain about a loan company

Confirm the reason for complaint is a valid reason (see below) Download and complete this template  Make a complaint to the Financial Ombudsman Service – call 0300 1239 123 or 0800 023 4567 Looking to complain about payday lenders? The number of complaints being made by consumers regarding payday lenders has increased dramatically in the last year alone, overtaking the number of PPI compensation claims being made annually, a scandal largely considered to be one of the UK’s biggest. There have been different factors that have contributed to the rise in complaints against payday lenders, such as the increase in media attention regarding […]

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The rise of loan claims

There have been numerous reports in recent months about how there has been a surge in the number of complaints about high-cost credit in the UK. In fact, the number of complaints has risen to record levels.  According to a recent article by The Guardian in May, the number of complaints regarding consumer credit in 2017-2018 had risen by a staggering 36,300, with more than half of these relating to payday loans, according to statistics provided by the independent Financial Ombudsman Service.  Whilst of all new complaints, those about payday loans had risen by over 64%, going from 10,529 to […]

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Can you be taken to court over a loan?

If you have taken out a payday loan and find yourself in a situation wherein you are not able to make repayments and find yourself defaulting on them, you may be concerned about what will happen next. One potential worry for borrowers concerns the possibility of being taken to court by a payday loan bad credit lender. However, is this, in fact, the reality if you don’t pay back a payday loan? You won’t be taken to court over a payday loan The simple truth is, is that a payday lender does not have the ability to take you to […]

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Can you go to prison for not paying a loan?

If you are struggling with mounting debt, perhaps because you have encountered an unexpected financial emergency, meaning that you have had difficulty keeping up with repayments and you have ended up not being able to pay credit you received, such as for a payday loan. You may be worried then that if you are not able to pay back your debts, that you could end up having to go to prison. However, this is simply not the case. We explain how, and what will most likely happen in the event that you are able to make repayments. The lender will […]

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How to save money on your pet

Owning and caring for a pet can be a brilliant experience. Pets bring so much to your life; love, loyalty, company and purpose. However, if you already have a pet you are probably all too aware that they can seemingly become a vacuum on your bank account. No one wants to give up their pet or the chance of having a furry friend. Furthermore, everyone wants the best for their pet without having to break the bank or take out a loan. To help you save money and give your pet the best care, here are some ideas. Adopt, don’t […]

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How does a student loan work?

As we all know, going to university can offer a fantastic opportunity for our futures and for growth as a person. However, such an opportunity does not come without a cost in the UK, unless you are Scottish and attending a Scottish university. So how do you fund such an expensive experience? If you are starting your undergraduate degree in September or October 2018, the fees you will be paying will be up to £9,250 per year (27,750 in total for the three years). This price is just for the fees and you also need to take into account living […]

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