Outstanding balance on loan

jono22

I have a loan with FLM FOR £3500 over 36 months. FLM has a high interest rate, the monthley repayment was £138.52 a total repayment of £4986. with only 16 monthley repayents left my outstanding balance according to my statment is £2612.73 this does not add up. anybody got any thoughts.

Xbigman

It does seen high, but not impossibly high.

Any PPI, fee's or payment holidays?

Check the date on the balance, it might be out of date if their systems don't update very quickly. On the other hand their systems might update too quickly and they've already added next months interest to the balance.

If you've missed any payments then even if you've made them up there may be some fee's or charges out standing.
Regards



X

Fiddlestick

What was the APR?

Xbigman

Its commonly around 53%.



X

The_Cappuccino_Kid

Doesn't add up.

Should be about £1800 outstanding.

I'd ask for a statement.

tigga_1961

hi im in the same boat as yourself have a 36 month loan due to be finished dec 2010 but figures dont add up im gonna request cca and see what that turns up may send it to fsa,fos for clarity