Latest Activity rss
-
1 -
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
-
2
-
2
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
Can I make a lump sum payment to clear my credit card debt ?
Dear Neil, yes you can pay off the remainder of your credit card debt with one payment if you wish, reducing the card to a 0 balance.
Paying off the card may also help your credit rating. To find out more about improving your credit rating read our guide: 9 steps to score on your credit rating.
Answered: 22/01/13
Follow us on Twitter: @Moneyfacts_couk
Answers given do not constitute financial advice and no reliance can be placed on the accuracy or completeness of any information.
No liability can be accepted by moneyfacts.co.uk for any direct or consequential loss arising from the use of, or reliance upon, this information. Users who are not financial professionals should seek expert advice. -
1Dear Maureen,
Thank you for your question. With new rules that came into practice from the beginning of July 2011 every car now needs to have a valid car insurance policy or have 'statutory off road notification'.
Unfortunately, we are unable to give individual advise as we are not authorised to do so by the FSA.
However, we have recently written a guide to 'Insuring your car - even if its off road' which should give you more then enough information on how to insure or SORN your partners vehicle.
(Sourced: Moneyfacts.co.uk Car Insurance)
Answers given do not constitute financial advice and no reliance can be placed on the accuracy or completeness of any information.
No liability can be accepted by moneyfacts.co.uk for any direct or consequential loss arising from the use of, or reliance upon, this information. Users who are not financial professionals should seek expert advice. moneyfacts.co.uk/ -
1You can normally take up to 25% of your pension pot as a tax-free lump sum known as a Pension Commencement Lump Sum (some older pensions might allow you to take more).
The remaining 75% would usually be used to purchase an annuity (a financial product that provides you with a guaranteed income for life), or can be left invested allowing you to drawdown (take) a portion of your pot each year to provide an income.
However,if your pension pot is quite small you might feel that you would prefer to take all of it as a lump sum ??“ this is what Trivial Commutation means.
It standard to take a 25% lump sum. So taking to lump sum's either side of the tax year may not be a possibility. However, this will be up to the discretion of your pension provider.
We strongly urge you to contact and independent financial adviser to assist you before making a decision.
(Sourced: moneyfacts.co.uk retirement)