help needed - settlement figure

smurf11_2

Hi guys, I'm new on here but wondered if you might be able to help me. I paid for a college course through barclays partner finance and recently asked for a settlement figure from them. to explain a bit of background, i'd had a few charges for missed payments and expected to have to pay roughly £500 to close the account.
however, when i got the letter with the settlement figure today, it says that i owe them £87!
barclays say there must have been a mistake and that a new member of staff has sent the wrong figure in error - where do i stand with this legally?

thanks, it would be a huge help if i only had to pay them £87

p.s the £500 is mainly made up of late payment fees and charges.....

di3004

smurf11 wrote: »

Hi guys, I'm new on here but wondered if you might be able to help me. I paid for a college course through barclays partner finance and recently asked for a settlement figure from them. to explain a bit of background, i'd had a few charges for missed payments and expected to have to pay roughly £500 to close the account.
however, when i got the letter with the settlement figure today, it says that i owe them £87!
barclays say there must have been a mistake and that a new member of staff has sent the wrong figure in error - where do i stand with this legally?

thanks, it would be a huge help if i only had to pay them £87

p.s the £500 is mainly made up of late payment fees and charges.....

Hello and welcome.;)

I am not too sure on where you would stand with this, but sometimes unfortunately these errors can happen, but did you request they send you a Full written detailed explanation of the calculations in writing?

I know the less owed the better, but you do not want any unexpected surprises later on down the line, and you done the right thing by going back to them to have this checked out.

Hopefully you don't owe all that much out.
I will ask though, did you also have a loan protection with this?

standupguy

smurf11 wrote: »

Hi guys, I'm new on here but wondered if you might be able to help me. I paid for a college course through barclays partner finance and recently asked for a settlement figure from them. to explain a bit of background, i'd had a few charges for missed payments and expected to have to pay roughly £500 to close the account.
however, when i got the letter with the settlement figure today, it says that i owe them £87!
barclays say there must have been a mistake and that a new member of staff has sent the wrong figure in error - where do i stand with this legally?

thanks, it would be a huge help if i only had to pay them £87

p.s the £500 is mainly made up of late payment fees and charges.....

It looks like the capital outstanding was £87 and the rest is made up of the fees and charges?

Fees and charges can be challenged anyway if they are deemed to be unfair.

It looks like the fees etc were omitted from your settlement figure.

But, providing you have the settlement figure in writing you could send them a cheque for the amount requested and enclose a photo copy back of the settlement figure they sent.

I think they will just close the account.

Otherwise they may try and come back to you but until and if that should happen you could just sit tight.

It is their mistake but they should honour what they have sent you in writing.

If they do come back you could say that you are prepared to take the matter to the Financial Ombudsman service and I am sure at that stage they will drop the matter.

Normally I would not recommend benefiting from someone's genuine mistake but the charges and fees they put on are excessive and are there to boost their profits - so as mse would say - consumer revenge?