Toothfairy Finance

thardy1988

Hello,

I was hoping somebody could offer me some advice. I recently did business with toothfairy finance, something I'll never be doing again! I took out a loan of £200 and paid back £200 within the 2 week limit. I didn't pay the interest of £36 at the time because I couldn't afford it due to unforeseen circumstances.

They have since then charged me interest on the entire £200 loan, not just the outstanding balance. I owe them £118 which I simply can't afford to pay (nor do I think that it's a particularly fair amount).

I made them an offer of £40 a month and they told me where to go.

What should I do? Any advice will be very much appreciated.

Peelerfart

Useful thread here,

https://forums.moneysavingexpert.com/discussion/2587715

Some good stuff

ihateyes

personally i would pay one late charge, and 1mths interest.

It is a 30 day loan, they cant charge more interest than this.

phone them, tell them, be firm, if they decline tell them they may start court proceedings as thats all your willing to pay.

They wont take you to court, but it may take them a while to accept your proposal