help wanted with beneficial finance loan

samarnesen

me and my partner took out a loan with beneficial just over 3 years ago it was for £5000 over 5 years cant remember the apr but it was quite high after paying £197 a month for about a year we hit a rocky patch and we reduced our payments to £98 a month. for the past year with their approval we have been paying it by standing order around the 21st of the month its due on the 1st so we are technically 3 weeks late with payments which has never been a problem until now we had a call yesterday saying we were a month behind and we need to catch up so that was ok and its now done so our payment now on the 21st is for next month not this month
the problem we now find ourselves with is we were told that for the past year we have been paying £15 a month charges for paying late this was something that was never explained to us when they agreed to take the payments on the 21st although it was on the original agreement that payments that were more than 14 days late were subject to a fee so they say there is nothing we can do
after almost 4 years of payments we still owe £7,100
im at my wits end with these people and feel like letting them take us to court is there anything we can do about it
sorry its so long but any advice is welcomed

Rafter

Well - the £15 may be unlawful if it represents any more than their costs.

So.....

Have they been writing or calling to tell you about the £15 charge each time?

If not they are breaking the law, because they have been applying a charge for something that costs them almost nothing.

Suggest you call them up and ask for a breakdown of interest and charges and then go to see citizens advice or post back here to see what your options are.

You certainly don't owe everything.

R.