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borrowing
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do I know...
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how to go about borrowing money?
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how much a loan will cost me?
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how to obtain and use a credit card?
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how much interest is charged on particular credit cards?
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case study
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Charmaine is 19 years old and she took out two loans a year ago, one for £500 and one for £600. At the time she'd been working for a large company and getting regular overtime. However they'd recently cut her hours. Her income had been cut considerably and she couldn't afford the repayments. |
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The CAB helped her work out a budget with lower monthly repayments on both loans. Charmaine was happy to negotiate with the companies involved and discussed her situation with them, successfully negotiating for the interest to be frozen for 3 months, and lower monthly payments for 6 months. |
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