wrong info on credit agreement

kirstycobie

hiya

can someone let me know if this is enforacable, i understand i will still need to pay but if it went to court would it be enforceable?

the total amount payable on my agreement is a different amount to what would be paid at the the with all monthly payments, the total amount payable is 9951.68 (it says this on agreement) but with 48 monthly payments of 203.17 this totals 9752.16 so the difference is 199.52, i have included all the aceptance fee's ect so dont know where the extra mount has came from.

so at the end there is going to be this extra payment of 199.52 to be made but how can they ask for this if it sates in agreement that 48 monthly payments of 203.17 is to be paid

its welcome finance and i just cant work out the agreement at all.

thanks

iolanthe07

Ask Welcome to explain it to you. A trifling error in arithmetic isn't going to render the loan unenforceable, I'm afraid! You might be able to get the agreement set aside, but then you would be expected to pay back the principal sum immediately, of course.

_Andy_

Ring them up and ask them

kirstycobie

ive sent a complaint letter to the today about it but wasnt sure where i stood with it as well as a few other things like the fee's etc they have charged and also this loan was to consoldate another one but the amount the have on this one to pay the other loan off is more than what the final payment was, if that makes sense.

~Brock~

The difference is 48p short of £200. That is likely to be a rounding issue with each of the 48 payments. I would guess that the £200 is some sort of fee that was charged to the agreement and was payable either with the first payment, or the final payment.

Alternatively, if this was a car finance agreement then was there a £200 deposit paid originally? If so then this will be included in the total amount payable because it is, in essence, part of the total amount payable for the car.

If this was taken out after April 2007 then a court will more than likely to deem it to be enforceable regardless...if there is a genuine error then it appears to be in your favour.

If it was taken out before this date then you should have paid it off long ago and not need to be asking this type of question? In any case, court is not a place where I would recommend you go to find out the answer.