Admin charges on loan

Palm77

I finally got to the last repayment of my loan only to be told that there was £32 more charges. Fair enough I thought variable interest charges maybe accounted for the small amount left to pay.

Then I got a letter saying that there would also be a £150 administration charge to complete the loan.

I thought there might be some sort of completion charge but is £150 normal? Is there anything I can do about the admin charge?

Janie4Now

Palm77 wrote: »

I finally got to the last repayment of my loan only to be told that there was £32 more charges. Fair enough I thought variable interest charges maybe accounted for the small amount left to pay.

Then I got a letter saying that there would also be a £150 administration charge to complete the loan.

I thought there might be some sort of completion charge but is £150 normal? Is there anything I can do about the admin charge?

What do the T&Cs say?

Palm77

They say about a service charge for completion but no mention as afr as I can see of an actual ££££ figure.

Janie4Now

Palm77 wrote: »

They say about a service charge for completion but no mention as afr as I can see of an actual ££££ figure.

Ask them where in their T&Cs is says about the £150 completion charge.

And ask them where the additional £32 has come from, too!

Palm77

Thanks a lot. All sorted now. Admin fee on invoice was a "mistake" so they just charged me the £32. This was for a missed payment that I'd had.

Janie4Now

Palm77 wrote: »

Thanks a lot. All sorted now. Admin fee on invoice was a "mistake" so they just charged me the £32. This was for a missed payment that I'd had.

Excellent news! Well done!

Peelerfart

I bet if you'd paid the Admin fee they would have returned your money once they realised the "mistake".