Would this be deemed as excessive?

John1993_2

huntz wrote: »

What I'm wondering is it legal to charge so much?

Yes, it is. I'm afraid that the right time to consider the costs was before you took it out, and then probably again just before you decided not to pay it back in full and walk away at the end of the first period.

Your choices now are limited, and the best option is likely to pay it all back now and never use them again.

huntz

Ok thanks for the replies,

I'll pay it back.

Shovel_Lad

huntz wrote: »

Can someone post this image of the details please it's not letting me post an image because im a new member.

http:// www. gadgetsfan. com/mrlen.jpg

I had to add some spaces to the url, if someone could post it for me to make things clearer.

I'm not sure whether to pay this last payment or not

Thanks

http://www.gadgetsfan.com/mrlen.jpg

John1993_2

It's worth taking a look on the "debt free wannabe" forum on here, where you may get some tips and ideas to help make sure that you don't need to take out a payday loan in the future.

Shovel_Lad

John1993 wrote: »

It's worth taking a look on the "debt free wannabe" forum on here, where you may get some tips and ideas to help make sure that you don't need to take out a payday loan in the future.

This is Debt Free Wannabee :think:

John1993_2

Shovel_Lad wrote: »

This is Debt Free Wannabee :think:

Oh, er yes, so it is...

fatbelly

huntz wrote: »

What I'm wondering is it legal to charge so much?

You're in the UK.

The only lenders who have their interest rates capped are the Credit Unions.

John1993_2

huntz wrote: »

What I'm wondering is it legal to charge so much?

How about you compare it with the following (possibly hypothetical) situation?

I spent six figures on a little sports car last year, but now find that I'm struggling with the practicality, as I need to carry some stuff a bit more often than I'd thought.

Do you think that I've got the right to demand all of the six figures back, even thouh it's looking a bit used now, has a fair few miles on it, and it's a year old?

After all, can it really be legal to charge 16 times the cost of a Kia for a car with such a small boot?

I know that I bought it by choice, have had the use of it, and am only deciding much later that I'd prefer my oney back, but it can't be right that they can keep my £100+, can it?

huntz

John1993 wrote: »

How about you compare it with the following (possibly hypothetical) situation?

I spent six figures on a little sports car last year, but now find that I'm struggling with the practicality, as I need to carry some stuff a bit more often than I'd thought.

Do you think that I've got the right to demand all of the six figures back, even thouh it's looking a bit used now, has a fair few miles on it, and it's a year old?

After all, can it really be legal to charge 16 times the cost of a Kia for a car with such a small boot?

I know that I bought it by choice, have had the use of it, and am only deciding much later that I'd prefer my oney back, but it can't be right that they can keep my £100+, can it?

What about when you bought the sports car and pay for it you get home to realise you have extra charges you were unaware of? As part of the finance deal they also put extra "admin" fees into the agreement without prior warning? Four months later your little 6 figure car has cost you 7 figures. In my case I was also automattically without permission put onto a rollover.

Cycrow

perhaps you should have read the T&C before accepting the loan