Illegible Credit Agreement

opinions4u

BackOnTrack wrote: »

15k borrowed 55k repayable!?!?!?!?!

I'd default and let the judge decide if that is reasonable and should be enforced.

I have read some stupid advice on these pages, but that is possibly the most idiotic suggestion of all time.

Idiot.

ILW

dizzy1974 wrote: »

the amount borrowed was £15k, although on the recon copy it states £16,500
payment term is 180 month
total charge for credit it 31,232.53

Does that give you the info you asked? I have had to take this from the recon copy

thank you for your help.........

That would suggest APR of around 18%
Not unreasonable for a sub prime loan.

dizzy1974

ILW wrote: »

What is the amount and the term?

Hello the loan amount was 15k, the term was 180 month , total charge for credit 32k

ILW

dizzy1974 wrote: »

Hello the loan amount was 15k, the term was 180 month , total charge for credit 32k

See previous post.

Antispam

EuraForsethl :spam:

Blitz01

I would be extremely grateful if someone could give me some advice as to what my next step should be?

Pay what you owe.....
That's the general advice when you borrow money, or do you think you shouldn't have to for some fairytale reason?

loan amount was 15k, the term was 180 month , total charge for credit 32k

Borrowing that amount and owing over double is ridiculous to the point where if you are that bad with finances and the costs incurred, you shouldn't be allowed credit in the first place.

Fiddlestick

180 months?!

dizzy1974

blitz01 wrote: »

pay what you owe.....
That's the general advice when you borrow money, or do you think you shouldn't have to for some fairytale reason?


Borrowing that amount and owing over double is ridiculous to the point where if you are that bad with finances and the costs incurred, you
shouldn't be allowed credit in the first place.

thank you welcome rep.

ILW

Which bit of the agreement do you think is wrong?

Blitz01

I do not trust these people which is why i want to see a copy of the ORIGINAL document and not a reconstitued copy

You trusted them enough to take their money.
They trusted you enough to pay back what you signed up to.