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Allenmoney
Allenmoney
Posts: 1 Newbie
in Loans
Hi folks,
Can anybody advise? I took out a loan in 2004 through a holiday club, for £7,371.78. This was while i was still with my Ex partner. So, as you may have gathered, things have gone badly wrong between then and now after a long drawn out legal battle. To cut a long story short, this particular loan acrued an enormous amount of interest. I have just made a final payment to the finance company £11,409.59, including the litigation removal fee of £50.00. Statement received.
I had a further loan from the same company some months later, this amounted to another final payment of £13,676.03. Awaiting statement.
So, both amounting to a staggering £25,085.62. After speaking with the finance company, and asking if there was any chance to negotiate a settlement fee, to claw back some of the interest.
They told me that there was no chance of getting any rebate. Is this true and is there a way for me to make any kind of claim against the interest, or am i up the swanny on this one? It just aint fair, just like many other things in life.. Can anybody advise please.
Can anybody advise? I took out a loan in 2004 through a holiday club, for £7,371.78. This was while i was still with my Ex partner. So, as you may have gathered, things have gone badly wrong between then and now after a long drawn out legal battle. To cut a long story short, this particular loan acrued an enormous amount of interest. I have just made a final payment to the finance company £11,409.59, including the litigation removal fee of £50.00. Statement received.
I had a further loan from the same company some months later, this amounted to another final payment of £13,676.03. Awaiting statement.
So, both amounting to a staggering £25,085.62. After speaking with the finance company, and asking if there was any chance to negotiate a settlement fee, to claw back some of the interest.
They told me that there was no chance of getting any rebate. Is this true and is there a way for me to make any kind of claim against the interest, or am i up the swanny on this one? It just aint fair, just like many other things in life.. Can anybody advise please.
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Comments
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Hi
Need a lot more information to advise.
The 'long drawn out legal battle' - was this with the finance company? or are you talking about with your wife and totally unconnected to the loans.
If you did have a legal battle with the finance company what exactly happened and what was the result?
Did you fall behind on payments? did they take you to court and obtain a CCJ against you?
When you paid off loan 1 - £11409.59 - did you check this balance compared to what you had borrowed/ what you had repaid and when and what the APR was? did your calculations agree to their statements and to the balance they calculated? Had you kept up with all contractual repayments on this loan?
Second loan - is that not currently settled? when you get the statement again you need to check it to your payments and the loan agreement. Have you kept up with contracted payments at all time? or have you fallen into arrears at some point?
Why do you think you should get a rebate? Why do you think it isn't fair?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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