early repayment on loan help!!!!!

dinks71

Hi i have requested a settlement figure fo a loan i currently have
the start figure was £15'000 (interest rate of 10% approx £27'000 payable back over 15 years)
i have paid £6300.00 off this loan over 4 years and the settlement figure they have given me is £14'378.78

i would like to know if it is worth calling the company and trying to get this figure down, i would appreciate advice from anyone who has done this or am i wasting my time and just pay what they ask for.

X thanks X

Rafter

A loan over such a long period probably had lots of upfront charges etc added on.

Your payments went first against clearing these charges, as well as the very high interest rate.

This is why you still owe most of the money despite paying £6300 to the loan company.

I'm sure all this was set out in the small print of the agreement you signed.

Your only possible case might be if you think you were missold the loan or any loan insurance in some way?

Otherwise I think you are stuck.

R.