furious at little i've paid off!!!!

talana

shafted_fpc wrote: »

YOu may wish to ask them how they atomise the loan..........

Now there's an idea!
If only I could atomise all evidence of my loan...........

Joeler

I think it's the front loaded interest that fools most people, myself included...

I called for a settlement figure on my loan recently and it was about £0.25p off the final amount I owe. I can understand that if you have been paying off a certain amount for 2 years you may not expect that much to still be owed...

Saying that I do think lenders should make it clear the amount that you are actually paying back versus how much you will actually borrow. Although this is more for people who havent had a loan before because after having a loan this all becomes pretty clear for the next time.

_Andy_

They do - total charge for credit is shown on the credit agreement.

Wutang_2

chalkie99 wrote: »

you will see they have a history of debt problems and should have been a bit more savvy because of these

Exactly - stupid poster, should be more savvy:rolleyes:

CHR15

That was R0bert_Sterlings point. The total cost is clear, borrow £12,000, total amount to repay £19,000 (only example figures of course).

Early repayments and missed payments etc aside, the agreement is to pay the bank £19,000 over a period of time, and in return, be able to spend £12,000 now.

DesG

CHR15 wrote: »

That was R0bert_Sterlings point. The total cost is clear, borrow £12,000, total amount to repay £19,000 (only example figures of course).

Early repayments and missed payments etc aside, the agreement is to pay the bank £19,000 over a period of time, and in return, be able to spend £12,000 now.

Total amount to repay in this case is 18360


Cheers, Des.