We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Have Barclays charged me the right amount of APR?
Hi there,
I’m new to posting on forums, but have started the ball rolling with claiming back PPI. I have been looking at all my old accounts and need advice with a Barclays loan account.
I took out a Professional Studies loan in 2001. I only have two documents from the bank to confirm details for my loan; these were a copy of my original application and my credit agreement. On the agreement it states:
My amount of loan was £10,000
APR stated at 7.7%
Amount of monthly repayment: £222.96
Number of Payments - 60
There is nothing about PPI. I started paying the loan in 2003 and loan ended in 2008. I have been using APR calculators to try and work out if the total amount paid £13.377.60 is at the correct APR of 7.7%? however they is too many methods available and I am calculating different figures. Most online calculators suggest the total amount payable should have been £12,079.00
Does anyone know if I have paid the correct amount considering my APR? any advice greatly appreciated.
I’m new to posting on forums, but have started the ball rolling with claiming back PPI. I have been looking at all my old accounts and need advice with a Barclays loan account.
I took out a Professional Studies loan in 2001. I only have two documents from the bank to confirm details for my loan; these were a copy of my original application and my credit agreement. On the agreement it states:
My amount of loan was £10,000
APR stated at 7.7%
Amount of monthly repayment: £222.96
Number of Payments - 60
There is nothing about PPI. I started paying the loan in 2003 and loan ended in 2008. I have been using APR calculators to try and work out if the total amount paid £13.377.60 is at the correct APR of 7.7%? however they is too many methods available and I am calculating different figures. Most online calculators suggest the total amount payable should have been £12,079.00
Does anyone know if I have paid the correct amount considering my APR? any advice greatly appreciated.
0
Comments
-
when exactly was the loan taken out
when exactly did you make the first repaymentEU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
The first loan payment of £222.96 came out on the 03/03/03 and the loan matured on 01/02/08 - paid in full0
-
what happened to the interest between the commencement of the loan in 2001 and the date you started repayments in 2003?EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
The professioanl studies loan gave students a period of 9 months after the borrowers course ended before repayments. I have just checked and I did incur interest over this period - glad there seems to be no hidden PPI charge - thanks Clapton0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards