they would not let me pay them

idlerogue

ok guys i am new here and in need of advice as are we all .. i took out a loan many years ago with what was then beneficial finance. around 3 months ago i took a smaller loan out with my bank in order to pay off the remiander of my loan with b.f i called the day before i went to meet with my bank manager and BF gave me a settlement figure i then got my loan from my bank the following day then called a day later back to BF to pay off the full debt outstanding but was told by the operator that i would not be able to pay as it was friday and they were going to process a payment due next tuesday and i would then need to wait 7 days for a new settlement figure. i tried a further 2 times over the next couple of months to pay them each time they told me that my payment had been declined yet upon checking my account there was sufficeint funds to clear. now i no longer have enough to clear the debt in my account. i read through my origional T&C's this weekend and they state i can pay my loan agreement in full at ANY TIME ..surely they have breached the terms of my agreement now ???? and if so is there anything i can do ?? any help responses etc greatly appreciated as im fuming and struggling now ..thanks guys and gals.. i have also been paying massive ammounts of ppi on this loan and was told at the time that my chances of getting the loan would be significantly reduced if i opted out of the ppi

redpete

1. Try sending them a cheque, recorded delivery.

2. Don't spend the money you've borrowed to pay off another debt.

3. Start the PPI reclaim process.

idlerogue

thanks ive not totaly spent the money i borrowed to pay them it just means that i will have to save a little extra of my wage to top up on it and doing so would mean i have enough to pay them its just irritating as every time they decline me they tell me i will need to wait 2 weeks before i can try again then another 7 days for a new settlement figure and each month they are still taking there payment. cheque is a good idea though. just one thing though is it right they can refuse to take payment off me claiming it takes near 4 days to process a payment from me each month ??

Apples2

You could try it in writing requesting a settlement figure which should be valid for 30 days (between payments).
Sounds like they are stalling over the phone, their excuses are pretty ropey.

As soon as you get the reply, send the cheque off.

If it is a cheque, it could take a few days to process.


p.s. stop spending the money!

geoffky

christ you are hanging yourself slowly...stop spending the money...

idlerogue

Apples2 wrote: »

You could try it in writing requesting a settlement figure which should be valid for 30 days (between payments).
Sounds like they are stalling over the phone, their excuses are pretty ropey.

As soon as you get the reply, send the cheque off.

If it is a cheque, it could take a few days to process.


p.s. stop spending the money!

thanks for the reply . and yeah i have stopped spending the money i borrowed to pay the loan .. As i said its just irritating and it does seem like stalling tactics and as in my OP in my T&C's it states i can pay my loan off in full at any time .. it seems the T&C's only apply to me as im sure if i had broken them they would have been sharp to reprimand me for it .. As a side note im looking to reclaim my PPI on this loan as the ammount is staggering on review and i was told at the time that due to me being a single mail my chances of getting the loan without it would be slim. but the company in question Beneficial Finance no longer exists and is part of HFC and the offices i took the loan out with have long since gone (since 2009) so were do i address my complaint to ?? silly question perhaps but any help as ever greatly appreciated ..thanks

Apples2

Beneficial website
http://www.beneficialfinance.co.uk/

Points you toward HFC
http://www.hfcbank.co.uk/html/howtopay.html

How To Pay

You can make a payment to your retail finance account in a number of ways. Remember, if you would like to pay off your account in full, you’ll need to call our Customer Services team first for a settlement figure.
You can make your payment through internet banking, BACS or by sending us a cheque. To pay by internet banking or BACS, you should quote your account number, and our sort code which is 40:63:06. To pay by cheque, simply send a cheque (payable to HFC Bank Limited) for the settlement figure to HFC Bank, PO Box 15033, Birmingham B2 2ND. Please remember to put your account number and the words ‘Pay Off’ on the reverse of the cheque.

Get the settlement figure then bang a cheque out the same day (recorded delivery)

idlerogue

Get the settlement figure then bang a cheque out the same day (recorded delivery)[/QUOTE]

thanks ever so much for your help it really is appreciated, think im going to take the cheque route. This has been terribly frustrating over the last cpl of months they really are a dreadful company to deal with on a customerr service level, their telephone operators though helpful really struggle with the language barrier regularly having to repeat my information over and over again and the reason for my last payoff attempt being declined was due to the operator taking my post code details down incorrectly when authorising my card payment :mad: ..still i will keep trying ..thanks again

amersall

If i were you, i would put a complaint into the FOS
http://www.financial-ombudsman.org.uk/contact/index.html
You have 30 days to pay a settlement after you have recieved the settlement figure (as Apples said)
the ineptness of this company has resulted in you not being able to settle and thus, causing you to pay more.

idlerogue

amersall wrote: »

If i were you, i would put a complaint into the FOS
You have 30 days to pay a settlement after you have recieved the settlement figure (as Apples said)
the ineptness of this company has resulted in you not being able to settle and thus, causing you to pay more.

thanks for the link i might very well be tempted down that road simply due to frustration i have had when dealing with these people. When i first called to get my settlement figure i asked the operator if i could pay it off that week at the agreed settlement figure and he said sure no problem, i call two days later and im told i cant pay it becuase they are in the process of taking a payment from me (can it really take 4 days to take a direct debit from my account) and then i will need to wait a further 7 days for a new settlemnt figure to be calculated. i asked to speake to am manager and was told one was not available but not to worry as the payment they were taking £240 would be reflected by his words " a significant ammount" in my new settlement figure. obviously this was not the case as upon getting my new figure it was nearly as if i had not paid them another £240 .. i think it knocked about £70 off my new figure .. surely this is just not on ..i would cry if i didnt laugh ..you guys have been great so far thanks .. just feels better getting this out in the open if nothing else