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Thread ID: 81243	2007-07-21 21:58:00	Student loans, hire purchase	Myth (110)	PC World Chat

Post ID	Timestamp	Content	User
571127	2007-07-21 21:58:00	Recently I applied for finance through a company for ~$500. I also have an existing student loan. No other debts, assets of more than the amount applied for and the student loan combined. The student loan is being paid of at the minimal rate direct from my pay, and we would have been able to pay the finance off at ~$50 per month. However the company turned me down Is it not possible to get ANY hire purchases while paying off a student loan? I work full time, and have family to support, but the payments would not have been a problem. To pay the student loan off at more than the minmal rate will still take years anyway. Am I screwed for all finance until said student loan is paid?	Myth (110)
571128	2007-07-21 22:12:00	What was it for? $500? Is it worth it? Can't you just save for this thing? You rent? Partner works too? It all depends on a lot of factors.	pctek (84)
571129	2007-07-21 22:37:00	Was actually for a lawnmower lol. Up until now we have been getting our lawns mowed by a local company. He charges $30 per mow, so we direct credit his account $15 per week. He has just sold his business, so the plan was to use the money we were giving him to get a lawnmower on h.p. Eventually, once the mower was paid off, we could save money there. We could save up for it, but Im sure the landlord would be asking why the lawns werent getting mowed :p	Myth (110)
571130	2007-07-21 23:01:00	Thats mad. Why not just buy one off Trademe? This is how the debt trap starts............	pctek (84)
571131	2007-07-22 00:47:00	IRD just rang me up to say i had overpaid my student loan by 3 years. I never once got a balance no matter how much i hassled them! Useless sh$theads. Anyways, whilst i had a SL i also had a Hire purchase for $1700 no probs. I have a good credit rating which is what they check before accepting or declining or else they check how much money you have after paying rent/morgage or what ever. Thats what i understood they were doing. Hope that makes sense!	rob_on_guitar (4196)
571132	2007-07-22 01:27:00	Was actually for a lawnmower lol. Geez Myth, how much lawn do you have to mow? We picked up a hand mower in a garage sale for $5 not too long ago then decided we didn't want it after all. Put it on Trade Me and it went for over $75 I think it was, can't remember exactly now. Moral: Don't buy hand mowers off Trade Me, get them in garage sales. :p Seriously though, why not have a chat to your landlord and tell him you can't afford a lawn mower and he might supply you with one. If he won't then ask if it is OK for you to get a sheep or a goat. :D	FoxyMX (5)
571133	2007-07-22 01:31:00	$500 wiill buy a very good lawnmower. Why not buy a 2nd hand one cheap - I'm sure you can find them at (as suggested, garage sales), or even a new one from somewhere like The Warehouse or Mitre 10 shouldn't cost more than a couple hundred.	somebody (208)
571134	2007-07-22 11:49:00	Student loans can be a trap for the unwary, this is the first instance I have heard on HP, and the decision mystifies me, but before I retired there was growing anecdotal evidence coming through, of couples being turned down for mortgage finance, especially if there was two student loans in the marriage. I don't know if the rules have changed, but a fair few students were borrowing money on the student loan scheme to finance non educational related expenditure such as cars. Student loans are an easy way of racking up a sizeable long term debt, that can seriously impact on ones future plans because of banks formulae for debt servicing in relation to income and existing client liabilities. If you have one bite the bullet and clear it as quickly as possible.	KenESmith (6287)
571135	2007-07-22 11:51:00	Why bother for a new lawnmover myth? Are you living in Auckland because everyone Sunday I saw people in Avondale selling it for around $100 bucks and working too. But the main thing is that you need to know to service the spark plug if your mover engine keeps dieing because the spark plug is coved with carbon. $500? Family? I got my new PC paid with more than $3000 cash. Family? :horrified Maybe not for me yet, and yeah, I'm having a hard time with NZ girls. The interest rates is not worth it, have a look at money man show on every Tuesday 8.00p.m. I hope you can learn something from there. Anyway I still havn't paid my student loans yet, wow, looks like I need to find way to make money from my $3000+ PC.	PedalSlammer (8511)
571136	2007-07-22 11:56:00	Never buy a second hand lawn-mower, (or chainsaw) especially from tradme. No one sells their lawnmower untill its giving issues and they are forced to upgrade. Then they sell you there problem.	Metla (12)
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