HELP PLEASE (loan rebate)

billybong_2

can someone please please please please help me, i am in dire need of assistance:

Myself and partner currnetly have loans with the "provident" (yes a huge mistake we are struggling to get out of)

i have requested an early settlement figure and plan to pay it off in one go, please see details below:

                        total owed		   962  	
			less early settlement	138.66
			total to pay		   823.34
			49 weeks left on loan


			total owed		  178.00
			less early settlement	1.97
			total to pay		   176.03
			14 weeks left on loan
		
			total owed		   458.00
			less early settlement	69.27
			total to pay		   388.73
			49 weeks left to pay


			total owed    		  167.00
			less early settlement	3.61
			total to pay		   163.39
			19 weeks left to pay

giving a grand total of :

Total Owed: 1765.00
Total to pay to settle: 1551.49
Saving me: 213.51

now with a typical 177% APR does that not mean i am entitled to a lot more rebate?

I need to pay this money by tomorrow so i would appreciate as much help as possible

many thanks in advance

Jas

vivaladiva

I think early redemption penalties vary from company to company. Looking at the APR I think I'd pay them off and scarper!

(And well done if you can get out of them. :T )

Mike_St_Helens

Well done for getting out.

By law, 'lenders' have some protection from early settlers, its called the 3 month rule. By settling, by law they are entitled to charge you 3 months interest as a penalty. Not all lenders do this.... however im sure the Provvy do !

Pls try comment on our Doorstep lenders thread !

Thanks

Mike
x

Ali_UK

I was horrified to get a piece of junk mail from Provident today. 177% APR:eek: What a bunch of sharks, it's disgraceful that they can be allowed to do this as they aren't helping people at all.

I so hope you jump out of this asap and move on! Good luck!

Mike_St_Helens

Heres the link...

http://forums.moneysavingexpert.com/showthread.html?t=236348