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Admin Charges on Loans
Ooragnakuk
Posts: 7 Forumite
in Loans
Has anyone got any advice on how to reclaim the excessive charges imposed by Finance Companies?
Shortly before Christmas my 85 year old father got a settlement figure for the last 6 months of a 5 year loan he took out for some home improvements.
He remembered to cancel the direct debit but forgot to post the cheque.
His first mail of the New year was two letters from the company saying that the direct debit had not been paid and that he was now subject to a £20 admin charge.
His second letter was very similar but imposed a £22.50 recovery charge on the missed payment.
We rang the lender but under no circumstances would they waiver this £42.50 of charges or even offer an early settlement rebate.
In fact I found the company very cold hearted.
Fortunately he has a friend who is a solicitor who is looking at the case but in the mean time any tips?
Regards
Ooragnakuk
Shortly before Christmas my 85 year old father got a settlement figure for the last 6 months of a 5 year loan he took out for some home improvements.
He remembered to cancel the direct debit but forgot to post the cheque.
His first mail of the New year was two letters from the company saying that the direct debit had not been paid and that he was now subject to a £20 admin charge.
His second letter was very similar but imposed a £22.50 recovery charge on the missed payment.
We rang the lender but under no circumstances would they waiver this £42.50 of charges or even offer an early settlement rebate.
In fact I found the company very cold hearted.
Fortunately he has a friend who is a solicitor who is looking at the case but in the mean time any tips?
Regards
Ooragnakuk
0
Comments
-
Hi
Sorry to hear about your father.
I don't have any advice, but am after advice for the same thing.
May I ask if the company concerned is Clydesdale Financial Services by any chance?
Thanks
Bob Glass0 -
Bob
I seem to have managed to double post - see the other version where I have replied with the advice my father's friendly solicitor has offered.
I not prepard to name on line
0 -
Just to keep you all informed!
Two weeks ago I wrote to the Loan Company about the charges they imposed on my father's account - using words recommended by his solicitor friend.
This morning he received a reply to say that the £42.50 would be refunded as a gesture of goodwill.
Thanks for your views on this matter but it shows that it does pay to challenge these issues.
:T0
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