Final Loan Payment

TheLastOne

Hi All,
Looking for a bit advice before I take this further.
I just paid my last loan repayment over 5 years with black horse. I've never missed any payments.
When I checked my balance I was still due around £70. After contacting black horse they said that when the loan was first debited into my account around the middle of February five years ago and the first payment was not taken until the start of march I was due around two weeks interest on top of the five years.
The loan agreement states 60 monthly payments of equal amounts which I have paid.
Are they right about this or should I refuse to pay.
Many thanks in advance.

stephane_2

For the sake of £70 you should pay & avoid a black mark on your credit report...then if you are due this money just claim it back.

shonzyd

ditto to the above, put your principles aside. Pay it, then have the argument after. Better that than trying to remove a default from your file.

jonesMUFCforever

The answer is if you asked for a specific repayment date rather than pay exactly one month after drawdown IMO they will be correct.

fozmcfc

Same as others, pay it for now, then make a claim if you feel it is incorrect.

Would be a shame after 5 years of making payments, to ruin your credit rating over £70.

Once paid then follow it up, if you think it is incorrect, at least that way, your credit rating is saved.

DevCoder

If you arranged a payment date for the first week of march then JonesMUFC is right, the drawdown starts the interest ball rolling, so the two weeks in February are interest liable.

TheLastOne

Thanks for all the advice. I agree its not worth the hassle for £70. It was just I was surprised as I've had loans in the past and this hasn't been the case.
I'll pay the balance and ask nicely for an explanation. Many thanks to all.