Natwest Loan Help!!!!!!

Apples2

stephane wrote: »

Complete rubbish....

Crikey, what Is your problem?

Macca83_2

I take it the mis-sold comment was a joke that was perhaps misunderstood in the medium of text?

kuohu

stephane wrote: »

Nothing to do with sarcasm but before making such a statement you need to explain yourself

You don't read the Loans forum much, do you.

pippitypop

Don't they normally add the interest on at the start of the loan and you first few payments are % wise mostly interest?

However, if you are thinking of paying off your loan early - you will be credited back some of the interest that was charged to cover from the day you settled (plus normally 56 days interest) until the end of your loan.

For example, I had a loan for £5000, I made at least 7 months payments of £100 - the amount I owed according my credit report was something like £5500 so technically I had paid nothing off the actual loan over 7 months..

So I phoned my loan provider and asked them how much the Settlement Figure was, which turned out to be around £850 less than the final amount showing on the credit report. So by paying off early yes I had been charged interest from the day the loan started to the settlement date plus 56 days interest as per my credit agreement, but the rest of the interest for the remainder of the loan wasn't charged. Hope that helps!

Wutang_2

stephane wrote: »

Complete rubbish....

whoooooooooooooooooooooooosh

opinions4u

craiga20uk wrote: »

The loan was over 4 years, so wouldn't really class it as a "longer" term loan

In the world of unsecured credit four years is longer term.

It was all done online and I never received any paperwork through the post.

Take a screen shot next time.

It sounds to me like your APR is in the region of 8% which is excellent value. I suggest you have a play with the link below which will show you how the debt can be expected to reduce.

http://money.guardian.co.uk/calculator/form/0,,603119,00.html

At the moment you're complaint is silly.