Category: Borrowing Money
Buy Now Pay Later: How BNPL Works and Your Rights
What is Buy Now Pay Later (BNPL)? What is Buy Now Pay Later (BNPL)? Buy Now Pay Later (BNPL) is a type of payment option that allows you to spread the cost of a purchase over a set period, rather than paying the full amount upfront. With BNPL schemes, you can buy goods or services…
Credit Cards: UK Legal Overview
Understanding Credit Cards in the UK Credit cards are a common way to borrow money in the UK, letting you buy goods or services now and pay later. When you use a credit card, you are effectively borrowing from the card provider, with the agreement that you will repay what you spend – often with…
Loans: UK Legal Overview
What Are Loans? A loan is a legal agreement where you borrow a sum of money from a lender and agree to repay it, usually with interest, over a set period. In the UK, loans are governed by laws such as the Consumer Credit Act 1974, which sets out important rules to protect borrowers and…
Student Loans and Career Development Loans Explained
Introduction to Student and Professional Loans Student loans and professional and career development loans are two key ways people in the UK can fund their education and training. Whether you are heading to university, retraining, or advancing your career, these loans are designed to help cover the costs of tuition fees, living expenses, or professional…
How to Spot and Avoid Mortgage Scams in the UK
Introduction to Mortgage Scams Introduction to Mortgage Scams Mortgage scams are fraudulent schemes designed to trick people out of their money, personal information, or even their homes during the mortgage process. In the UK, these scams are a serious concern, as buying a home is often the largest financial commitment most people will ever make.…
How to Choose and Apply for a Credit Card in the UK
Introduction to Choosing and Applying for a Credit Card Choosing the right credit card is an important decision that can have a lasting impact on your personal finances. Credit cards offer a flexible way to borrow money, make purchases, and manage your spending, but they also come with responsibilities and legal obligations. Before you apply,…
How to Resolve Credit Card Disputes and Complaints UK
Understanding Credit Card Disputes Understanding Credit Card Disputes A credit card dispute arises when you challenge a transaction or charge on your credit card account that you believe is incorrect, unauthorised, or unfair. Disputes can involve a range of issues, from billing errors to fraud, and it’s important to know your rights and the steps…
Credit Card Interest Rates and Fees Explained Simply
Understanding Credit Card Interest Rates Understanding how credit card interest rates work is essential for managing your finances and avoiding unnecessary costs. Interest rates determine how much you pay to borrow money on your credit card if you don’t pay off your balance in full each month. Here’s what you need to know: What Are…
What to Do If You’re Struggling With Credit Card Debt
Understanding Your Credit Card Debt Understanding Your Credit Card Debt Credit card debt happens when you spend on your card and don’t pay off the full balance each month. The remaining amount carries over, and interest is usually added, making the debt grow over time. Even small unpaid balances can quickly add up, especially if…
Credit Union Loans
What Are Credit Union Loans? Credit union loans are a unique type of borrowing offered by credit unions – organisations that are run by and for their members. Unlike banks or payday lenders, credit unions operate as not-for-profit financial cooperatives, meaning they are owned and controlled by the people who use their services. Any surplus…
