davidjwest
  • Member for 6 years, 10 months
  • Last seen more than 2 years ago
How can I help an individual whose bank is writing to them at my address
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62 votes

I used to work for a bank and this type of thing is quite common - the company I worked for had a policy to handle any mail to any "gone away" customers These mail items would still be generated but ...

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Best way to make sure my son has an income after I have died
15 votes

A bit more detail to complement the advice already given. You need around £800k - £1M to comfortably allow for an ongoing income of £20k per annum. I would get some advice from a qualified IFA ...

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How to handle surprise debt mostly comprising bank charges
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8 votes

It is the banks responsibility to prove how the debt has been accrued, so first of all you need to get accurate statements for the account going back several years, they will have access to this. If ...

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How can I enforce saving when I have a very limited income?
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5 votes

There are several tactics you might employ to help the situation. You have two options, one is to increase your income, the other is to reduce your expenditure. Paying off debt will also help but ...

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Is my weekly budget realistic?
4 votes

I am in a similar position. Your figures look plausible but there are a few ways you could reduce the bills. As stated, more details would be helpful but there is enough to offer comment. Your ...

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How closely tied are UK Stocks & Shares ISAs to the value of the Pound?
3 votes

The simple answer is it varies, sometimes they react together, sometimes not. Here's a graph showing the performance of the FTSE 100 versus Sterling since the EU Referendum. In fact you could argue ...

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My credit limit was raised without my asking, will this affect my credit rating?
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3 votes

Depending on your exact circumstances (other borrowing, other credit facilities, income etc) it's unlikely to have any measurable effect on your credit rating. Having a credit facility that you aren'...

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How long to increase credit limit?
3 votes

The actual act of increasing your credit limit, once they agree to do so, is instantaneous. However, depending on the bank in question and their IT infrastructure, it could take up to 24 hours as ...

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Sole trader or Limited Company?
3 votes

From your explanation the Sole Trader option is more appropriate and certainly easier to manage. There are many differences but the pertinent and most important ones are as follows. The main ...

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How will Brexit affect house mortgages?
3 votes

Nobody can predict the affects of Brexit but it is wise to consider them. We saw the pound weaken after the vote to leave and it is possible the pound will weaken further after Brexit and this ...

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It is worth running a limited company with low income?
2 votes

In my experience no, it's not worth it. The amounts you are earning do not make it any more tax efficient to be a LC and there is a fair bit of extra paperwork involved, registering is pretty simple ...

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Why isn't everybody rich?
2 votes

"Rich" is a relevant term, so by default everyone cannot be "rich". The problem is Capitalism, by definition the rich are at the top of the pyramid (bosses), using those below them (workers) to ...

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RRP/list price/retail price and cars?
2 votes

The retailer can sell for whatever price they like, with the caveats that if they consistently sell at a loss they will go out of business and if they set the price too high they will not sell ...

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Is bad for a person's 'financial reputation' to have transactions to lottery sites on his/her bank statement?
2 votes

Having worked for a UK retail bank for many years I can assure you that nobody cares about individual transactions on your account as long as they don't take you overdrawn, or have to be returned (...

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What pension options are there for a 22 year old graduate in the UK?
2 votes

I wouldn't go into a stock market related investment if you plan on buying a house in 4-5 years, you really need to tie money up in stocks for 10 years plus to be confident of a good return. Of ...

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New car vs used: how to compare value?
2 votes

In theory what you are proposing would work however there are too many variables that are not logical or quantifiable. Your idea would be a good starting point. Some makes/models are considered to ...

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Can a rent increase with RPI value be enforced retroactively?
1 votes

I've made a few comments so will provide an answer. No, you are not liable for a penny as you specifically asked for the contract to be amended SO YOU COULD TERMINATE IT IF THERE WAS A RENT INCREASE. ...

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Purchasing things on the internet
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1 votes

Simple, take a screenshot of the ad. You then have evidence that it is the seller who is being dishonest and not you. Better still if you have other evidence such as SMS, emails between you and the ...

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£600 per month after rent: is this good?
1 votes

Your rent sounds very high to me, I was spending £1,050 a month to rent a large 5 bedroomed house for my family including 6 children a year or so ago. This is in the north of England so rent is ...

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My previous employer paid me too much and now they want the money back
1 votes

I am not a lawyer either but I wouldn't bother hiring one as the chances of you being allowed to keep the money are vanishingly small. What you have now is a civil debt, but it can be difficult for ...

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How to do the maths on affordability?
1 votes

As advised you need to budget, but there are a few simple things you can do to make it easier. Work out how much your fixed bills are every month, for example, council tax, gas and electric, mortgage ...

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Does paying salary count as distribution of profits for an Estonian business?
1 votes

OK, it's a bit of a minefield but here goes! You only pay corporation tax in the UK on any profit made, so your "salary" would not be classed as part of the profit, so in the example you give you ...

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Can a transaction be void if the reader said it has been approved?
1 votes

As stated in the other answer, debit card payments even contactless ones, do not debit instantly or anywhere near instantly. They can take several days or even longer. However, the fact that the ...

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How do you Record Revenue from ads?
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1 votes

You can invoice your advertisers and use the date of the invoice for tax purposes. Some advertisers may want to pay monthly, weekly etc so that would require multiple entries as income on the ...

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What should a 21 year old do with £60,000 ($91,356 USD) inheritance?
1 votes

I assume you've no debt - if you do then pay that off. I'd be tempted to put the money into property. If you look at property prices over the past 20 years or so, you can see returns can be very ...

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Buy 2nd house vs investing?
0 votes

It depends on how risk-averse you are really. Renting out a property is risky for a number of reasons, the house could be empty, the tenant could damage the house, not pay the rent etc. You can ...

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What to do if I can't trust myself with monthly wages?
0 votes

I'll approach the question in a slightly different way, some will say I am not answering the question but my idea will solve your problem, to a large degree. First of all, contact all your creditors ...

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How to minimise the risk of a reduction in purchase power in case of Brexit for money held in a bank account?
0 votes

If you are really worried your best bet is to move all your cash from Sterling into a foreign currency that you think will be resilient should Brexit occur. I would avoid the Euro! You could look at ...

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