Car Loan Charges

holdste

Can anyone offer me any advice

I've just finished paying back a car loan from a loan company not a bank. I got into difficulty along the way accrued a lot of charges, over £500.

Can I attempt to reclaim these charges using the bank charges letter templates or are private loan companies exempt from this type of claim.

Thanks for your help.

Steve

Rafter

Steve,

Doesn't matter about the company. If the appeal court confirms the charges are unreasonable you should get your money back.

There was an earlier ruling about credit card charges which might read across to loans, that £12 is a reasonable charge for each infringement - that should certainly be the maximum you should pay for each infringement.

Go ahead and lodge a claim and send a subject access request asking for a full breakdown of your account. Make sure that you also claim for any failed dd charges you were charged by your own current account provider too.

Good luck

R.

holdste

Thanks for the advice Rafter I'll give it a go.
Steve