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what iis a HPDI fee

hi, we have just received our yearly statement (last one we hope as only one payment left) from welcome finance and it has a monthly recurring payment added onto it for HPDI fee, does anyone know what this is? We have no idea and we should only have another £215.03 left to pay on this account and because of all these HPDI fee's we have over £300 left to pay? I really do hope someone can help me, as no one is answering the phone!

Comments

  • di3004
    di3004 Posts: 42,579 Forumite
    Hiya

    I have not heard of that one before, but hopefully someone on here will have and post up.
    I would also ask them for the policy/booklet details on this if you do not have them, this may explain what this fee is all about, and they should supply the details free of charge.
    I would write to request for the policy details meanings they are not answering your calls.

    Meanwhile, hopefully someone will be along soon to explain, good luck.;)
    The one and only "Dizzy Di" :D
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    I believe it stands for Hire Purchase Default Interest.
    (i.e. interest accrued on arrears. Although called default interest it does not necessarily mean that they have defaulted you).

    https://forums.moneysavingexpert.com/discussion/2487949
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
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