loan query


D

Doug Ramage

Mike said:
hello all,

i took a 12K business loan with barclays about 2 or 3 years ago and i
currently owe 7,506. Looking at my statement my interest for the month of
june was 58.45 my monthly repayment is 282.96

I think i am paying quite a heavy interest rate.

question is.. would i benefit from taking another loan, one of these 9% apr
deals etc or as I read somewhere is it false economy to do so.. (i read
something like when you take another loan because it starts fresh again you
end up paying more interest in the long run)..

i was never good at maths in school so any help appreciated...

What was the original repayment period of the loan?

Doug Ramage
 
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M

Mike

hello all,

i took a 12K business loan with barclays about 2 or 3 years ago and i
currently owe 7,506. Looking at my statement my interest for the month of
june was 58.45 my monthly repayment is 282.96

I think i am paying quite a heavy interest rate.

question is.. would i benefit from taking another loan, one of these 9% apr
deals etc or as I read somewhere is it false economy to do so.. (i read
something like when you take another loan because it starts fresh again you
end up paying more interest in the long run)..

i was never good at maths in school so any help appreciated...
 
M

Mike

the loan was over 5 years starting 11/12/01 at a'nominal rate' of 10% (she
said i dont need to know the APR as it isn't important)...

she said i also took 5 years of insurance cover and i would get some back if
i paid of the loan

PS.. Doug.. you are obviouslly extremely knowlegable.. are you a 'real'
accountant? if so and you have space for one more I would seriously consider
coming on board! Let me know..
 
Z

Zoe Brown

PS.. Doug.. you are obviouslly extremely knowlegable.. are you a 'real'
accountant? if so and you have space for one more I would seriously consider
coming on board! Let me know..
I doubt that any one could consider you as an accountant when you say things
like...
the loan was over 5 years starting 11/12/01 at a'nominal rate' of 10% (she
said i dont need to know the APR as it isn't important)...
!!!
 
D

Doug Ramage

Zoe said:
I doubt that any one could consider you as an accountant when you say things
like...




!!!
If you re-read the thread, you will see that I did not say what you have
attributed to me. It was part of the OP's second post.

I am not even sure how you managed to follow the thread.

Doug Ramage
 
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R

Ronald Raygun

Doug said:
If you re-read the thread, you will see that I did not say what you have
attributed to me. It was part of the OP's second post.
As I see it, she isn't attributing anything to you, but is referring
to the OP's comment about you "taking him on", presumably not as an
apprentice lion tamer, and Zoe was putting Mike down by saying how
could he consider himself as an accountant if he said things like...
 
D

Doug Ramage

Ronald said:
Doug Ramage wrote:




As I see it, she isn't attributing anything to you, but is referring
to the OP's comment about you "taking him on", presumably not as an
apprentice lion tamer, and Zoe was putting Mike down by saying how
could he consider himself as an accountant if he said things like...
Not the way I nor Pet Lover read it.

Doug Ramage
 
R

Ronald Raygun

Doug said:
Not the way I nor Pet Lover read it.

Doug Ramage
But it's the only way to read it. Pity the actual attributions
have been lost, but count the chevrons. Zoe was addressing the OP,
who had addressed you. It is she who was questioning his viability
as an accountant, not yours.

Yours is obviously beyond reproach.
 
D

Doug Ramage

Ronald Raygun said:
But it's the only way to read it. Pity the actual attributions
have been lost, but count the chevrons. Zoe was addressing the OP,
who had addressed you. It is she who was questioning his viability
as an accountant, not yours.

Yours is obviously beyond reproach.
Like Caesar's wife...........................:)
 
M

Mike

hey guys, I am the OP.

I was just asking doug if he was an accountant and if so maybe i could use
his services as he is obviously very knowledgeable. I wasn't claiming to be
one! sorry if my posting was confusing!

cheers all
 
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M

martinmcg2006

YOU HAVE TO READ THIS AND GIVE IT A TRY! I MEAN WHAT CAN U REALLY LOSE.... £3 -
£4 TOPS!! IT'S WELL WORTH TRYING.. EVEN IF ONLY 8 PEOPLE REPLIED YOU WOULD HAVE
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It's simple, legal, and it really works
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- Make £500 - £5,000 or more, with just £3 and 6 stamps. Earn money honest and
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: I found this on a bulletin board and decided to try it. A little while back,
I was browsing message boards, just like you are now, and came across an
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: So I thought, "Yeah right, this must be a scam", but like most of us, I was
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of the 6 names and addresses stated in the article. You then place your own
name and address in the bottom of the list at No6, and post the article in as
many newsgroups and message boards as you can.
(There are thousands) No catch, that was it. So after thinking it over, and
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I was shocked! I figured it would end soon; but the money just kept coming in.
In my first week, I made about £30. By the end of the second week I had made a
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This is now my fourth week and I have made a total of just over £15,000 and
it's still coming in rapidly. It's certainly worth £3 and 6 stamps!
Let me tell you how this works and most importantly, why it works. It's really
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Suggestion: Read this entire message carefully. (Print it out or copy and paste
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IMPORTANT: This is not a rip-off; it is not indecent; it is not illegal; and it
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*Here Are The 4 Easy Steps To Success - TRY IT.............GO ON, WHAT HAVE YOU
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STEP 1: Get 6 separate pieces of paper and write the following on each piece of
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of paper and fold the piece of paper in half so the coin will not break through
the envelope. Next, place one of the pieces of paper in each of the 6 envelopes
and seal them. (make sure you put a stamp on each envelope - a 2nd class stamp
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sealed envelopes, each with a piece of paper inside saying "PLEASE PUT ME ON
YOUR MAILING LIST", your name and address, and a 50p coin.
What you are doing is creating a service. THIS IS ABSOLUTELY LEGAL! You are
requesting a legitimate service and you are paying for it. (very little!) Like
most of us I was a little skeptical and a little worried about the legal
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So I checked it out with the UK Post Office and they confirmed that it is
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Postal lottery laws. It is fantastically - completely legal! Now send your 6
envelopes to the addresses below:

(1) T.Low, 97 Farmleigh Avenue, Clacton-On-Sea,Essex,CO15 4UL
(2) P.Faure,13 Highfield Road,Old Swan,Liverpool,L13 3BR
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(4) J Hester, 33 Clarendon Road, Weston super mare, North Somerset, BS23 3EE
(5) I Suggs, 1 Anchorage point, Anchor and hope lane, Charlton, SE7 7SN
(6) M.McGuinness, 11Broadoak,Wardley Gateshead NE10 8XF

*IMPORTANT: You MUST do this step or these people will not be able to add your
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lose out on a lot of money - and we dont want that! Also, when you do Step No3,
when people start sending money in, the above 6 will KNOW that you didn't
adhere to the rules as they never got their 50p from you and will take you off
the list! These are the RULES. : *PLEASE REMEMBER that this program remains
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Look at it this way - If you follow the rules completely, the program will
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* STEP 2: Now take the number 1 name off the list that you see above and move
the others up 1. (6 becomes 5, 5 becomes 4, etc.) And add YOUR name and address
at number 6 on the list.
STEP 3: Change anything you need to, but try to keep this article as close to
the original as possible. Now, post your amended article to as many newsgroups
and message boards as you can (You should really try to aim for at least 200
which isn't as difficult as it sounds with the 'copy and paste' feature - more
on this below) I think there are close to 34,000 groups. And remember, the more
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and, whenever you need money, you can use it again, and again. So, as each post
is sent and the directions followed carefully, six members will be reimbursed
for their participation as a List Developer with 50p : pence each. Your name
will move up the list geometrically so that when your name reaches the No1
position you will be receiving thousands of Pounds in CASH!!! What an
opportunity for only £3.
*DIRECTIONS FOR HOW TO POST TO NEWSGROUPS* :
STEP 1) You do not need to re-type this entire letter to do your own posting.
Simply put your cursor at the top of this document and highlight all of it.
Select 'copy' from the edit menu. This will copy the entire letter into the
computer's memory.
STEP 2) Open a blank 'notepad' file or a blank email and place your cursor at
the top of the blank page. From the 'edit' menu select 'paste'. This will paste
a copy of the letter into notepad or a blank email so that : you can add your
name to the list.
STEP 3) Save your new notepad file as a .txt. file or save your email with the
document now on it.
STEP 4) Search for various news groups (on-line forums, message boards,
discussions groups) using a search engine or however you like.
STEP 5) Visit these message boards etc and post this article as a new message
by highlighting the text of this letter you will have saved, and selecting
'copy' and then 'paste' from the edit menu. (paste this document on the message
board) : Fill in the Subject line, this will be the header that everyone sees
as they scroll through the list of postings in a particular group. Make it
something intriguing that will make people want to read your message. : Click
the post message button. You're done with your first one!
Congratulations...THAT'S IT! All you have to do is jump to different newsgroups
and post away, after you get the hang of it, it will take only take you a few
seconds for each newsgroup! You will begin receiving money within days!.
* Now the WHY part: Out of 200 postings, say you receive only 10 replies (a
very low example of 5%). So then you make £5 with your name at No6 on the
letter. Now, each of the 10 persons who just sent you 50p make the MINIMUM 200
postings, each with your name at No5 and only 10 persons respond to each of the
original 10, that is another £50 for you. Now those 100 each make a MINIMUM 200
with your name at No4 and only receive 10 replies each, you will make an
additional £500!! OK, now here is the fun part, each of those 1000 persons post
a MINIMUM 200 letters with your name at No3 and they each only receive 10
replies, that just made you £5,000!!!! Those 10,000 persons will all deliver
this message to 200 newsgroups with your name at No2 and if still only 10
people per 200 newsgroups react, you will receive £50,000! With an original
investment of only £3 that's AMAZING!!!
Do you realise that thousands of people all over the world are joining the
Internet every day? And reading these articles JUST LIKE YOU ARE NOW!! There
are tons of honest users looking at newsgroups and message boards everyday that
will be willing to give it a try. Estimates are at 20,000 to 50,000 new users
joining the Internet every day. So can you afford £3 and see if it really
works? I think so...
**Remember** Play FAIRLY and HONESTLY and this will really work. DONT play
honestly and fairly and it WONT. Good luck in your new business!!! How to turn
£3 into £5,000! Or more! Do it!!



MY E-MAIL ADDRESS is (e-mail address removed)

Send me a message and tell me how SUCCESSFUL you have been !!!
 
J

john boyle

Doug Ramage said:
A loan of £12,000 over 5 years at 10% p.a. is about £255.00 per month.
So it looks like your "insurance" is costing you about £28 per month.
Perhaps expensive for the cover it provides.


The amount outstanding after 30 months should be around £7000 - the
£500 difference is probably the insurance again (some/all of which
might be refunded to you).
Yes, it is likely that the insurance was paid as a one off single
premium which was also lent to him on the same terms as the original
loan. So the current amount outstanding is likely to be the balance
outstanding from the 'two' loans and the interest payment quoted makes
it about 9.3% which is close enough for our purposes I think.
 
T

Timothy Lee

Ronald said:
But it's the only way to read it. Pity the actual attributions
have been lost, but count the chevrons. Zoe was addressing the OP,
who had addressed you. It is she who was questioning his viability
as an accountant, not yours.
My impression was that he wanted to be taken on as a client not a member
of staff.
 
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R

Ronald Raygun

Timothy said:
My impression was that he wanted to be taken on as a client not a member
of staff.
Granted I misunderstood that bit, but I suspect so must Zoe have,
for it is *her* comment I meant could only be read one way.

If you're still out there, Zoe, can you clarify what you meant?
 

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