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MFI Flexiplan Agreement - Help Please
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Hi
Hope someone out there can help or give me some advice.
I took out a MFI FlexiPlan Deferred Agreement back in 2003 and my agreement plan is for £25.00 monthly payments on a purcashe of £781 and then 2 months later £179 added to it this is on a credit plan of £900.00 and at no time did they notify me that I was over my credit plan linit.
Checking the agreement there is nowhere on it that detail the Total Amount payable and no timeframe either just the Promotional Period which was 6 months Interest free.
I have now found out that my payment of £25.00 that was set by Black Horse was not enough to cover payment protection and interest, and having paid so far £1500.00 I have now been informed that my balance has not in fact reduced but is still £962.00!!
At no time have they sent any updated statements (I did change address but fogot to tell them as I was under the misapprehension that it would be paid off by now) however they have only tried to contact me once since taking out this agreement.
They have advised that they would accpet a settlement of £981.00!!
Advice please
Should my agreement (based on 2003 credit agreements) have detailed the final total payable based on monthly payments?
Is there any technicality that I can get them on either to waive the final amount or reduce further settlement considering I have already paid £1500.00?
Thanks for any advice - extremeley digruntled
Thanks
Eilidh
Hope someone out there can help or give me some advice.
I took out a MFI FlexiPlan Deferred Agreement back in 2003 and my agreement plan is for £25.00 monthly payments on a purcashe of £781 and then 2 months later £179 added to it this is on a credit plan of £900.00 and at no time did they notify me that I was over my credit plan linit.
Checking the agreement there is nowhere on it that detail the Total Amount payable and no timeframe either just the Promotional Period which was 6 months Interest free.
I have now found out that my payment of £25.00 that was set by Black Horse was not enough to cover payment protection and interest, and having paid so far £1500.00 I have now been informed that my balance has not in fact reduced but is still £962.00!!
At no time have they sent any updated statements (I did change address but fogot to tell them as I was under the misapprehension that it would be paid off by now) however they have only tried to contact me once since taking out this agreement.
They have advised that they would accpet a settlement of £981.00!!
Advice please
Should my agreement (based on 2003 credit agreements) have detailed the final total payable based on monthly payments?
Is there any technicality that I can get them on either to waive the final amount or reduce further settlement considering I have already paid £1500.00?
Thanks for any advice - extremeley digruntled
Thanks
Eilidh
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