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Can I claim back Interest on Bank Loan..?

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Comments

  • DCFC79
    DCFC79 Posts: 40,649 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 17 October 2012 at 9:16AM
    curly_suz_ wrote: »
    APR is 20.3%.. Someone told me to claim back the interest but i wasnt sure how this would have worked. I have checked for PPI and doesnt look like there is any..

    I just wanted to make sure, thanks for your help :D

    Your bf willingly took out a loan with a rate of 20% so if its anyones fault its your bf's. Just need to shop around more in future.
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    OP you can also claim bank 10p for the ink used by your boyfriends pen in signing that outrageous agreement.
  • meer53
    meer53 Posts: 10,217 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    cos wrote: »
    Who's the lender? I took out a loan in the same year and the APR was 7.5%, so I'm a bit concerned about the rate.

    Bit of a silly comment really. Loan interest rate isn't set for 12 months !

    Different lender, different rate.
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    meer53 wrote: »
    Bit of a silly comment really. Loan interest rate isn't set for 12 months !

    Different lender, different rate.

    Agreed, I bet I can find a personal loan rate as low as 5.6% and one as high as 5000%+ APR on google in two minutes.
    Thinking critically since 1996....
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Don't feed the troll
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    APR is 20.3%

    While no doubt high, this APR rate is not excessive given it was an unsecured loan to someone who clearly did not know what he was letting himself in for. You see reports of far higher APR than this on this board.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • andy.m_2
    andy.m_2 Posts: 1,521 Forumite
    maybe the interest element of the loan was miss-sold, or misold or something like that
    Sealed pot challange no: 339
  • meer53
    meer53 Posts: 10,217 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    How can the interest on a loan be mis-sold ? You agree to the terms.
  • andy.m_2
    andy.m_2 Posts: 1,521 Forumite
    How can the irony in a post be so ignored by someone with 3526 posts.

    Perhaps next time I will use smilies to highlight it ;)
    Sealed pot challange no: 339
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