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Car Loan - can I reclaim penalties/charges
wellread1
Posts: 9 Forumite
[I have started the process of taking my bank to court in respect of the illegal charges on my account.
However, I am wondering if anyone is aware if this process applies to charges, e.g late payment fees on car loans. I have an account with Forthright Finance (owned by the Royal Bank of Scotland) who regularly charge me £50 - £100 for late payments. I have to pay these or they threaten to repossess the car.
Under the same principle of reclaiming bank charges are these types of charges illegal and if so, how can I get them back ?
By my estimate they have taken over £1100 in charges in the last 2 years!!!!
Can anyone help ?
However, I am wondering if anyone is aware if this process applies to charges, e.g late payment fees on car loans. I have an account with Forthright Finance (owned by the Royal Bank of Scotland) who regularly charge me £50 - £100 for late payments. I have to pay these or they threaten to repossess the car.
Under the same principle of reclaiming bank charges are these types of charges illegal and if so, how can I get them back ?
By my estimate they have taken over £1100 in charges in the last 2 years!!!!
Can anyone help ?
:T
0
Comments
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What does it say in the HP agreement?
And if you know its gonna cost you £50-100 a time, can you prioritise the debt to ensure it is always paid on time, maybe via Direct debit?0
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