clydesdale Finance

davemull

hello

can anyone help my dauhter and her ex boyfriend.they took out a intrest free agreement for £750 she paid £600 back before the year was up and was 2 months late on the balance of £150.Now 16 months after the last payment clydesdale are after £560 intrest.

davemull

~Beanie~

davemull wrote: »

hello

can anyone help my dauhter and her ex boyfriend.they took out a intrest free agreement for £750 she paid £600 back before the year was up and was 2 months late on the balance of £150.Now 16 months after the last payment clydesdale are after £560 intrest.

davemull

Unfortunately with agreements such as this, if the entire balance isn't repaid before the end of the interest free period, interest is charged on the whole amount from day 1. As you daughter was 2 months late paying the remaining balance, this will be what has happened.

It will be in the terms and conditions that she signed and there is nothing she can do about it other than pay up.

iolanthe07

There was a similar thread to this last week, IIRC. Beanie is right - it will be in the terms and conditions. You have to stick absolutely to the T & C's of these interest free deals if you are to avoid penalty charges.