update on clode finance

japete22

Hi everyone

Just thought I'd let you know I paid them off today dinnertime minus the fee.!!!

They still argued that they were within their rights to add on the 1.6% fee. If thats the case, why are they willing to waiver this fee, as they put it "it is a gesture of good will". Rubbish its because they know they're wrong and we would take it further.

I urge anyone who has a 0% deal with these people and are going to be charged this fee FIGHT THEM. Don't let them away with it.
I will not be purchasing online from any company that deal with them in the future. :T

standupguy

Well said!

MGSteve

I'm in the same situation now - didn't notice this 1.6% fee and there is no way to get around paying it, unless you want to pay by direct debit and pay the 19% interest!

Surely when the text on the agreement says "Buy Now Pay Later option, If within 9 months of the agreement you have paid to us the amount of credit in full, you will not pay any interest." Now, the amount of credit in my case is £869.04, which is before they slap on their 1.6% fee. I appreciate it makes no mention of not paying a 1.6%, but equally it doesn't mention it at all. What is does mention is if we've paid the amount of credit, I'll pay no interest.

Not once does it mention that you cannot pay before 9 months and NOT pay this fee, so in effect the amount you have to repay is £882.94.

In the same way that Ryan air offer no card charges if you pay via Electron and Electron only, they get around having to include the Card processing fee in their fares, surely the similar rule must apply and if there is no way that you can repay early and avoid this fee, it should be clearly stated on the agreement.

Instead its in the small print under 'Non Direct Debit Payments - 1.6% of payment value'.

Now I accept a charge if someone uses a credit card to pay off a loan, but a debit card a) its safer for them as they're less likely to get a charge back and b) the cost is pence to handle a debit card payment, typically 20-30p.

So effectively paying them around £14 to pay it off is rather annoying.

JaPete22, you say you got away without paying it, how did you do this?