Last post Tue, Jan 09 2007, 2:44 PM by Paul.Wilson. 5 replies.
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  •  Tue, Jan 09 2007, 2:44 PM


    HI Lindford - trust you're well..........

    The issues around annonimity and forum practice are for our forum administrator and I know this has already been flagged accordingly..

    Please don't add threads such as this moving forward as it simply raises the profile of the thread and advertises the fact a person has left personal detail. Appreciate you have the right interest at heart but in this circumstance you will cause more damage than good.

    For the record I agree with what you say. Personal details should be treated as our most priceless asset and the use of nick names etc a great way to protect yourself.

    • Post Points: 20
  •  Tue, Jan 09 2007, 2:28 PM


    why no mention from you of her using her name for everybody to see......................????
    • Post Points: 20
  •  Tue, Jan 09 2007, 12:42 PM


    Hi Sandra - I guess the first thing to say is please don't panic, I think there will be a number of options open to you.

    In regard to taking a loan against your pension there's not much I can advise. It's not something I know off in the loans industry and sounds more like some sort of endowment product. My recomendation would be seek the advice of an Independent Financial Advisor. They will work with you to understand your current situation, history and provide a list of options right for you.

    If you think its going to be difficult meet repayments on time I would speak to the providers of the card / loans. They may well be able to help and prevent causing any further potential damage to your credit file. If you haven't already spoken to the loan provider you may find they'd roll the credit card debt in to the loan and extend the repayment term. This will mean paying back more in the long run but will reduce your monthly repayment and free up some cash each month.

    If you're a home owner with equity then a Secured Loan could be another option. This type of loan is Secured against your home which means providers are less stringent with acceptance policy as the lender knows the property is there as collateral (i.e. in the same way your mortgage is).

    Again if you're a home owner you could also consider re-mortgaging.

    The above will be just a few of the options so I really would strongly advise you go and see an Independent Financial Advisor. They will take you through the pro's and con's of all the opptions available to you.

    Take your time and don't rush into anything. If you'd like any further advice, or any questions come up along the way, then please come back to the forum - or if you prefer email me direct at paul.wilson AT moneysupermarket.com.

    Kind regards,

    • Post Points: 20
  •  Mon, Jan 08 2007, 7:48 PM


    Thank you.
    • Post Points: 5
  •  Mon, Jan 08 2007, 7:22 PM


    I trust this is your alias name.........................please do NOT reveal your real name anywhere !!!!!!!!!!!!!!!!!

    I am surprisedf this site has not yet warned you of this serious omission..................

    get a nickname quick !!!!!!!!!!!!!!!!!
    • Post Points: 20
  •  Mon, Jan 08 2007, 7:09 PM



    I am 56 and have been told that I can get a loan against my pension provisions (I have two private funds as well as my state pension). My retirement age is 60 on all of these. The reason I need this is because I have been divorced for eighteen months and have not managed my finances very well and my outgoings now exceed my income and my savings are nearly all gone. I have a credit card bill of £3,000+ which I am never going to be able to pay off and need to borrow at least that amount although £8,000 would be the ideal amount in order to consolidate two other loans in addition to the credit card. Problem is that whilst I have not defaulted on anything, I have been late with payments on my credit card and store account and I cannot therefore get a loan from anywhere at a realistic interest rate. The pension idea now seems to be the only answer but I don't know the first thing about it. Please can you help? Thank you.

    Pretty desperate!
    • Post Points: 35