rsmith1
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I'm a student and rely on my part-time income to fund my studies and living - can I get income protection?
- rsmith1 asked 2 years ago in Insurance
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Expert Financial Adviser Answer
James Brooke
answered 2 years ago
The actual answer is that it depends. For the answer to be YES, you will need to have a regular pattern of part time employment and you will, at the point of any claim, need to be able to prove the last 12 months income. If you can do this then the Friendly Societies will offer you cover and some of the more main stream providers may also consider you.
If you do not have a regular pattern of part tiem employment or you cannot prove your last 12 months income then I am afraid no one will cover you, as youc annot demonstrate to them how much you have actually lost.
Hope that helps.
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If you do not have a regular pattern of part tiem employment or you cannot prove your last 12 months income then I am afraid no one will cover you, as youc annot demonstrate to them how much you have actually lost.
Hope that helps.
Should I pay off my student loan?
- rsmith1 asked 1 year ago in Loans
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When are student loans wiped?
- rsmith1 asked 1 year ago in Loans
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What happens to my student loan if I become self employed?
- rsmith1 asked 1 year ago in Loans
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Expert Financial Adviser Answer
James Brooke
answered 1 year ago
The Student Loans Company (SLC) will work with HM Revenue and Customs to collect repayments. Repayments are not over a fixed period, but the level of repayments will rise and fall in line with your income.
If you are self-employed, HM Revenue and Customs will collect your loan repayments through the self-assessment system, along with your tax. Your liability will be assessed on all your self-employed income as well as any PAYE income you may also have.
If you are an employee, your employer will take repayments from your pay, at the same time as they take tax and National Insurance contributions. Your employer will work out your payments based on your individual pay periods and not on your total income for a whole year. The repayments will be shown on your wage slip.
If you live outside the UK or are working abroad for a non-UK employer, you will have to tell SLC about this and you will have to make monthly payments direct to SLC. SLC will make alternative arrangements to collect repayments direct from borrowers who are outside the UK tax system.
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If you are self-employed, HM Revenue and Customs will collect your loan repayments through the self-assessment system, along with your tax. Your liability will be assessed on all your self-employed income as well as any PAYE income you may also have.
If you are an employee, your employer will take repayments from your pay, at the same time as they take tax and National Insurance contributions. Your employer will work out your payments based on your individual pay periods and not on your total income for a whole year. The repayments will be shown on your wage slip.
If you live outside the UK or are working abroad for a non-UK employer, you will have to tell SLC about this and you will have to make monthly payments direct to SLC. SLC will make alternative arrangements to collect repayments direct from borrowers who are outside the UK tax system.
Are gold buying sites offering a good deal?
- rsmith1 asked 1 year ago in Other
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MoneyWatch
answered 1 year ago
Tesco are offering around £7.31 / g which apparently is 70% of the current market value.
A professional gold dealer should offer around 90%, so it's not the best deal, but it might reduce some of the legwork in finding your local bullion dealer!
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A professional gold dealer should offer around 90%, so it's not the best deal, but it might reduce some of the legwork in finding your local bullion dealer!
Is it too risky to pull from my savings to pay some of my debts? I have both student loans and a credit card. How do I figure out which is worse?
- moneystar asked 2 years ago in Budgeting
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Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
i generally agree with rsmith above.
you need to review your debts in terms of % cost and the monthly minimum payments.
if you have determined that you will still have adequate cash for emergencies after paying off your debt, there is no harm in doing so.
with a good credit file you can always borrow back if you need to.
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you need to review your debts in terms of % cost and the monthly minimum payments.
if you have determined that you will still have adequate cash for emergencies after paying off your debt, there is no harm in doing so.
with a good credit file you can always borrow back if you need to.
