Black horse loan interest

jamesscott778

Hi
I took out a black horse loan in 2007, the total charge for credit figure was £1860 and the interest rate is 1.742%. I rang black horse to find out ho much interest has been charged to the agreement already. The women told me that I have already paid over £1860 and the agreement is properly just over half way.

Can someone tell me if this is right or should the interest be stopped ?

James

Tixy

Interest will continue on any agreement until the debt is paid off - although you will pay more interest at the start and much less towards the end of the agreement.

Perhaps you can give some figures and more info, how much was the loan, what was the term of the loan, have you made every payment on time and in full etc? and then people might be able to advise you better.