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settlement fees
I borrowed £15,000.oo from Sainsburys Bank. I have made one payment of £258.00 to them and I now want to settle my account. They are asking me to pay them £15,233.00 in settlement. I calculate that it is costing me £491.00 to do this.
Can this be right?
Do I have any bargaining power?
Do they have any legal entitlement to levy such huge settlement fees?
Please help!
Can this be right?
Do I have any bargaining power?
Do they have any legal entitlement to levy such huge settlement fees?
Please help!
0
Comments
-
Yes they do. It will be in your T&Cs.
They had a contract to earn £15000 from you over the next few years, which you have stopped.0 -
They told me that they can claim up to two months interest on settlement but have only claimed around one month.
Wouldn't that suggest that there is some room for manoeuvre?
Also wouldn't Terms and Conditions such as these fall under the Unfair Terms and Conditions legislation?
Just a thought..0
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