Was my loan missold?

R_P_W

So you borrow 8k at a high apr to improve your credit rating?! Crazy! What did you do with the money?

Do you have the original paperwork that you signed? That will detail whether yo can pay off early and any charges for doing so.

Anonymous_m

R_P_W wrote: »

So you borrow 8k at a high apr to improve your credit rating?! Crazy! What did you do with the money?

Do you have the original paperwork that you signed? That will detail whether yo can pay off early and any charges for doing so.

The idea was to pay it off within months but when I went to pay it off the person at the bank said I can't. The paper work said I can. I went to the branch, they said the lady said she will email me the amount I can pay, that was 6 days ago. I also asked why it doesn't show up that I have a loan on my online banking summery page as it did once but with no details and they said (as before) that it is a temporary fault, although it hasn't shown for at least a year.

I was also told I couldn't get an increase on my £10 overdraft. I have never used the overdraft and don't plan to but I want to have it higher in case I ever do need it. I was told they wouldn't increase it or lend more money because I don't use my Halifax as my main account. That was on Friday, on Monday I received a letter saying I was guaranteed a credit card with Halifax

jonesMUFCforever

Go to the Halifax website - click on the loans tab it gives clear instructions as to how to overpay a Halifax loan.
Simples.

opinions4u

Anonymous_m wrote: »

The idea was to pay it off within months but when I went to pay it off the person at the bank said I can't. The paper work said I can. I went to the branch, they said the lady said she will email me the amount I can pay, that was 6 days ago. I also asked why it doesn't show up that I have a loan on my online banking summery page as it did once but with no details and they said (as before) that it is a temporary fault, although it hasn't shown for at least a year.

I was also told I couldn't get an increase on my £10 overdraft. I have never used the overdraft and don't plan to but I want to have it higher in case I ever do need it. I was told they wouldn't increase it or lend more money because I don't use my Halifax as my main account. That was on Friday, on Monday I received a letter saying I was guaranteed a credit card with Halifax

Why do you keep using branch staff when they've failed you previously?

tinkerbell28

Holy !!!!!! that's daylight robbery!

Anonymous_m

jonesMUFCforever wrote: »

Go to the Halifax website - click on the loans tab it gives clear instructions as to how to overpay a Halifax loan.
Simples.

They need to tell me the amount I have to pay but they won't tell me

dealer_wins

tinkerbell28 wrote: »

Holy !!!!!! that's daylight robbery!

Shame the OP willingly agreed to it, what was (s)he thinking!!

Some people only learn the hard way in life. (and some remain ignorant to their their grave LO)

Anonymous_m

opinions4u wrote: »

Why do you keep using branch staff when they've failed you previously?

I was going past the branch so I went in

MrsPBikerChick

Check your paperwork and Halifax's website - you should find a number for their loans department. Call them and tell them you wish to settle the loan, ask for the settlement figure. Dont ask for the balance as this is something different. Both Halifax and BoS state on their website you can do this, and you say your particular terms also allow for this.

If you get nowhere with the first person then ask for a manager. If you get nowhere with him/her then make an official complaint. If they fail to respond satisfactorily within 8 weeks take it to the FO.

Tbh, I can't imagine a situation where an early repayment can legitimately be refused. You are effectively giving notice to cancel the contract, meaning you are obliged to return the money borrowed under it as well as any interest due to date and any settlement fee set in your T&Cs. The bank should not be able to force you to continue the contract effectively for the sole purpose of gaining more interest from you. It's like me paying my credit card off in full but the bank refusing the payment because they want to charge me interest.

opinions4u

Anonymous_m wrote: »

I was going past the branch so I went in

Fine.

It's been posted repeatedly that the information you need is on their web site, including phone numbers to call.

Next time you walk past an interet enabled piece of equipment use it for that purpose. Next time you walk past a device that can make phone calls, ring them.

Overpayments

Personal Loan contact numbers

At the moment what you're doing is akin to asking the new car salesman to do the service for you. Like it or not it doesn't work that way.