Hello there,

Thanks for taking your time to read this, I am from Nepal and my dad is ex British Gurkha. We are currently living in North west London. Well i know it’s in the blood of most of the older generation Gurkha’s (no disrespect) from Nepal who are mostly innocent and easily fooled and who don’t really think ahead as long as their family, friends and relatives are living peacefully in the presence.

I think now you kinda got an idea of what I am going to talk about from the title and the little introduction i gave above….Well my parents took a loan for a mortgage to buy a house in UK. My parents didn’t have any idea how bad taking loan was. (Well actually to be honest it’s over 80% of the people who take mortgage loan are in serious debt after doing some of my research). I am not going to say what the exact value of loan my parents got, but it’s somewhere between £100k to £200k……After telling my parents how much money they have to pay back to bank only in interest for over 20 years just to own a house….they kind of seem worried…hate to see my parents upset and worried!!!! (Gurkha’s blood starts to run violently in my veins) I think it’s natural for most of the generation of Gurkha’s when they see someone they love get disturbed like that……Don’t worry mom & dad your son is still here, will do best what I can……Later I gave them an idea how they can sell some properties in Nepal and bring the money here to pay the mortgage…..and so they agreed with me….

But I have got stuck in this point that…….Is it even legal or even allowed to bring those huge of sum of money to bring in UK? Wait before someone starts to think negative (money laundering) let me make clear that it’s the savings of my dad while he was serving for British Army for nearly 40 years….I know low pay and low pension blah blah blah….oh well that’s life, I don’t want to complain….I’ll just accept it, in fact I am grateful to them or else maybe I wouldn’t even be here…..Alright enough about the past and long story…let me just make it simple….

Does anyone know any service or company(well known) that can help us bring the huge amount of money legally and by cheapest and safest mean (kind of too much to ask…hehe cheapest and safest)…..so that my innocent parents can pay off their mortgage and live the debt free life…….. …….btw I call my parents innocent because after comparing the world I’ve seen….they’re just way too innocent….knows no lies or hate just want to live peacefully with family friends and neighbors…..

Thank you very much for taking your time to read this. Apologizes to them who thinks it’s inappropriate to write these things here….please do not leave any negative comment……Actually I just came to write the last sentence but I just couldn’t resist to tell how many other innocent people like my parents are in debt and may have similar thoughts….

Thanks once again.

I am no longer employed with the company and there are no more contributions to my 401k, what are my options and what would be a good decision? perhaps, I could use the money to pay off my loans but would that be a good decision? The company is T.Rowe Price, should I stay with it or look for another company? How does it compare to other companies and what to look for if I decide to Convert it into an IRA?

Thanks for your help.

I have gotten myself into a little bit of a pickle with credit card debts, and I don’t want to keep transferring the balances as I don’t think my credit rating is all that great as it is, and don’t want to damage it any further.

I have been thinking about getting a personal loan to pay off my cards, cut my cards up and get back on my feet. Whilst visiting www.moneysavingexpert.com I came across a section on Credit Unions.

I visited the link of my local credit union, and it seems too good to be true – they offer a rate of 9.9% to everyone, regardless of personal circumstances/amount borrowed and credit rating.

I realise I have to join, and pay an amount to a savings account with them each month, but they also stipulate that you can pay as little as £1 per month.

What’s the catch? It seems like the perfect solution.

I think the loans may be based on affordability, which I hope there shouldn’t be any problem with. I still live at home, and manage to make regular payments each month to cover all my cards/car insurance/phone bills etc. The loan repayment would work out cheaper than what I am having to pay monthly as it is.

The car now is :000

The saleman offers
N = 5 yr
PMT = 0/mth
Down PMT= 00
Interest rate = ???? I dont know what to get, i just get the t-bill one. If i am wrong, please let me know.

I have a HP 10BII financial calculator?
do i plug these into my calculator?
N=60 (5 x 12)
PMT = 350
PV =3000
I/YR = 4.94 (5 yr yield from t-bill 6/5/2006) <- not sure should i use t-bill rate or not
4.94/60

For FV, i got ,669.85; however, this is the price i am going to pay in 5 yr.

How do I know the PV of the car?

Another question, some people take out loans to buy a car, if i want to take out 5000 for down pmt? How do I compare them? I mean should i borrow or should i make a monthly payment or should i payoff the car?