Moving payment date

mkjl22

I have just taken out a secured loan, But my payment date is the 23rd of each month i get paid at the end of the month.
When i contacted my loan company they wanted to charge me £62:mad: to move the payment date back a week, are they allowed to do this and is there anything i can do.
Thanks

illmonkey

Are you sure they arnt moving the payment date forward, therefore more interest occurring as there are 7 or so more days between payments?

I've moved payments before, and as they lengthen the time, they take the addition interest on a card.

Iona_Penny

I have a personal loan with the Coventry BS (money used by son to buy a car) and my son pays it, but as the money was spent on the 27th of the month this was a nightmare-he gets paid at the end of the month). I telephoned and asked to move payment date which they agreed to do without an admin charge, but it did mean that one month the payments were the 27th and the next the 1st ie: less than a week apart, would this be possible for you? otherwise I think you will be technically in arrears.