Secured LOAN charges

djrich1

I have a secured loan over 5 years which i took out in April 2004, unfortunatly during this period i have had some problems repaying it, arising in charges..... these charges now ammount to over £2300.00 and as my loan is due to mature in June 2009 i have been told it will continue untill all the charges have been paid in full.
I did write a letter a couple of months back and they said they would reduce the charges by £270.00.
I know its my fault for not being able to make full payments on the loan each month, but really feel that they are taking the peeeee especially for charging me £20.00 for leaving me an answerphone message just to advise me to make a payment!
I currently have NO arrears on the account.

Does anyone have any experience of this situation? and any ideas on what i can do?:money:

petermb_2

It depends who the loan is with and who arranged it.
A bit more information would be helful. How much did you borrow? Did you include PPI?

marshallka

djrich1 wrote: »

I have a secured loan over 5 years which i took out in April 2004, unfortunatly during this period i have had some problems repaying it, arising in charges..... these charges now ammount to over £2300.00 and as my loan is due to mature in June 2009 i have been told it will continue untill all the charges have been paid in full.
I did write a letter a couple of months back and they said they would reduce the charges by £270.00.
I know its my fault for not being able to make full payments on the loan each month, but really feel that they are taking the peeeee especially for charging me £20.00 for leaving me an answerphone message just to advise me to make a payment!
I currently have NO arrears on the account.

Does anyone have any experience of this situation? and any ideas on what i can do?:money:

Have you got a breakdown of the charges from them? Seems a little steep just for missing a few payments. How much was the loan and also like petermb says, was there PPI on it?? Also who was it with?

samleec1

hello

you take the another loan and repay your previous loan

you can apply here for online loan in very low interest rate , just apply here personalhomeloansuk.com, This Company introduces people who want to lend with those who want to borrow and at very attractive rates with no charges for early payment etc.

Thanks

Regards

petermb_2

A Broker in other words.

djrich1

hi people, the loan was for £8,000 and from paragon finance, the charges were for letters and phone calls