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I know i'm being stung but how the hell did I end upo signing?
Glass_Half_Empty??
Posts: 785 Forumite
in Loans
I got a loan with welcome finance in Nov last year(stupid I know but I was desperate and thought it would help:rolleyes: ) and basically my credit rating came down at a whopping 50%:eek:
Anyway I have been looking at the forms tonight and basically I would of thought that interest on 2000 is 1000 but according to my contract it is 1550(including 75 acceptance fee). Now how can the interest be sold to me at 50% when it is actually nearer 75%? As I get paid weekly the guy chopped my payment by 4 of the monthly figure which I asked him not to do and he said it was ok because I would pay it off quicker that way. Now, he has told me I can over pay with out penalties and I can pay it off early without penalties but he can never give me an actual figure outstanding. How can he not be able to tell me what my outstanding balance is? and why he can't tell me when it will finish? he says it is because I am not paying to the monthly payments we agreed. So if I was to over pay for any length of time or indeed want to pay it off in one go then then how can I if he can'r give me this infomation? I have had enough of it and want rid of the debt and am coming into a bit of money soon a bit before and a bit after chrimbo so if I could pay it off I would be glad to get rid but how can I when they are so vague?
Are they just scamming me into paying more money?
And can I report them to anyone for the dodgy dealings? It may sound a bit dramatic to some but at times I just feel like crying because of it it gets to me that much :mad:
Anyway sorry for the long rant I hope some of you can give me some advise
Anyway I have been looking at the forms tonight and basically I would of thought that interest on 2000 is 1000 but according to my contract it is 1550(including 75 acceptance fee). Now how can the interest be sold to me at 50% when it is actually nearer 75%? As I get paid weekly the guy chopped my payment by 4 of the monthly figure which I asked him not to do and he said it was ok because I would pay it off quicker that way. Now, he has told me I can over pay with out penalties and I can pay it off early without penalties but he can never give me an actual figure outstanding. How can he not be able to tell me what my outstanding balance is? and why he can't tell me when it will finish? he says it is because I am not paying to the monthly payments we agreed. So if I was to over pay for any length of time or indeed want to pay it off in one go then then how can I if he can'r give me this infomation? I have had enough of it and want rid of the debt and am coming into a bit of money soon a bit before and a bit after chrimbo so if I could pay it off I would be glad to get rid but how can I when they are so vague?
Are they just scamming me into paying more money?
And can I report them to anyone for the dodgy dealings? It may sound a bit dramatic to some but at times I just feel like crying because of it it gets to me that much :mad:
Anyway sorry for the long rant I hope some of you can give me some advise
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