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I have a 12500 loan from Barclayloan and the repayment is around £500 per month with approx 2yrs and a bit years left to go. I am sinking fast and need to reduce the monthly payment as far down as poss. I have never ever missed a payment. When I phoned them they said I have to pay a much higher rate of interest ( even though the original loan was for 20k and now I only want 12k ) this seems so very unfair when I need help and have not missed a payment. Can any one tell me if there is anywhere I can go to make a formal complaint and get them to treat me fairly. I have been wiht Barclays for 40 years! Help!
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Comments
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When they say you need to pay a higher rate of interest, is this because they're wanting to refinance you're loan?
Do you have any other debts?
Have you sought specific debt advice?Total 'Failed Business' Debt £29,043
Que sera, sera.
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Not too much you can do if they refuse to budge as that was your agreement. i'd advise going on the debt forums. they will offer good advise.0
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