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Problem with settling a loan
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Hi guys, I'm after some advice! :A
I purchased a laptop from Staples on a 9 months interest free credit agreement from Clydesdale Finacial Services.
I had a feeling the 9month interest free period was coming to an end but foolishly, it would seem, expected a letter near the date notifying me and explaining the repayment options. I checked my paper work an to my horror found the date had passed by a few days and upon checking my bank statement they had charged me a months repayment! :mad:
I phoned them to ask if such a letter should be sent and I was told yes but it not guaranteed to reach me. :eek: :mad:
I then cancelled the direct debit and sent a cheque for the remainder that I owed and a letter explaining I was not happy as I was promised a letter and think it's seriously out of order etc.
They then sent my cheque back expaining they couldn't accept this and the final settlement figure would be (approx) £940, which is £200 more than the initial figure. :mad:
I sent an official complaint letter including copies of all paperwork sent by both parties and explained I wanted proof that this reminder letter was sent and that I wanted to see how the figure was calculated as I knew the credit agreement act had been revised a few days before my agreement (31st May 05) and that I felt given the circumstances it was unfair to demand such a high amount.
Today I received a reply still demanding the same money and with a date the reminder letter was sent (not exactly proof in my eyes) and a brief calculation of the amount in accordance with Regulation 3 of the Consumer Credit (Settlement Information) Regulations 1983. To make matters worse they want a further £20 due to this months payment not being paid during the complaint process. :mad:
I am very angry with the whole situation, I really have no idea where I stand with this and am very reluctant to pay the rediculous amount given the situation but don't want to harm my credit rating.
Any advice GREATLY appreciated.
Many thanks. :beer:
I purchased a laptop from Staples on a 9 months interest free credit agreement from Clydesdale Finacial Services.
I had a feeling the 9month interest free period was coming to an end but foolishly, it would seem, expected a letter near the date notifying me and explaining the repayment options. I checked my paper work an to my horror found the date had passed by a few days and upon checking my bank statement they had charged me a months repayment! :mad:
I phoned them to ask if such a letter should be sent and I was told yes but it not guaranteed to reach me. :eek: :mad:
I then cancelled the direct debit and sent a cheque for the remainder that I owed and a letter explaining I was not happy as I was promised a letter and think it's seriously out of order etc.
They then sent my cheque back expaining they couldn't accept this and the final settlement figure would be (approx) £940, which is £200 more than the initial figure. :mad:
I sent an official complaint letter including copies of all paperwork sent by both parties and explained I wanted proof that this reminder letter was sent and that I wanted to see how the figure was calculated as I knew the credit agreement act had been revised a few days before my agreement (31st May 05) and that I felt given the circumstances it was unfair to demand such a high amount.
Today I received a reply still demanding the same money and with a date the reminder letter was sent (not exactly proof in my eyes) and a brief calculation of the amount in accordance with Regulation 3 of the Consumer Credit (Settlement Information) Regulations 1983. To make matters worse they want a further £20 due to this months payment not being paid during the complaint process. :mad:
I am very angry with the whole situation, I really have no idea where I stand with this and am very reluctant to pay the rediculous amount given the situation but don't want to harm my credit rating.
Any advice GREATLY appreciated.
Many thanks. :beer:
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