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Do I try for bankruptcy?
Comments
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On your calculations. I estimate that the settlement fee should be approx £15 to £16k. Based on interest of £3500 / year for 3 yrs + £14k loaned. Repayments have been £10900.DVardysShadow wrote: »the 13k which has been paid is mostly interest.
Something is very wrong with this settlement offer. At most you should have to pay 14000 plus the missing installments plus the interest on those instalments.
I have simplified calculations by calculating simple interest.
Could the excess be a cancellation fee?0 -
You need a copy of theb original paperwork.
There may be PPI or a cancellation fee.If you've have not made a mistake, you've made nothing0 -
Welcome Finance?? UNWelcome Finance more like!! £413.38 per month over 10 years means you're paying back £49,605.60 for a loan of £14,000. That's scandalous :mad: no wonder these companies are so keen to give out loans!!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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