Loan not repaid after agreed number of payments

opinions4u

first payment was taken on 23 Nov

Are you 100% certain? Checked to bank statement?

3 months to first payment was a common feature of many loans. 2 months is an unusual one.

Ponyman

I can't remember precisely how much they want, but it was certainly more than 1 payment - on their reckoning it won't be paid off until the Dec payment.

Yes, I have double checked the first payment date against my bank statement. When I phoned at the beginning of this week they said it can sometimes take more than 30 days to set up a direct debit!

opinions4u

In that case ask them to itemise payments made and explain, in writing, why the loan isn't repaid.

Additionally, ask them for a copy of their complaints procedure and tell them that you now consider this to be a complaint.

rollcall

Hi, I just wanted to come in on this thread as we had a problem with our Barclays loan which I did get to the bottom of...
It turned out that the reason they were stating that there was still a balance outstanding even after all 60 payments were made was because they changed the interest rate - which they were not supposed to do. The interest rate was set in our loan agreement but the statements they started to send when they changed their computer systems showed a higher rate. I wrote to them and they confirmed this was an error and we actually received a refund. I cannot be 100% sure but I suspect this has something to do with the recent announcement about loans being incorrect and Barclays having to make refunds.........