Loan Settlement HELP!!

NYM

Alfred1985 wrote: »

The letter they sent you is critical. If you have a statement saying the account is closed they would have to go to court, pay costs etc. and hope the court finds in there favour.

I OBTAINED A SETTLEMENT FIGURE AND PAID THE CREDITOR. THEY HAVE NOW CONTACTED ME AND SAID THE FIGURE WAS WRONG AND I OWE THEM MORE MONEY - WHAT ARE MY RIGHTS?
The Consumer Credit Act 1974 binds the creditor to any statement they provide to the borrower. This means that if they charge you less than they are entitled to, and you pay in good faith, the creditor must apply to a court for the extra money. The court will decide if you have to pay the money that the creditor is claiming. If you receive such a request for extra payments, contact the Citizens Advice consumer service for further information

You dont get much help on this forum, it's full of people defending the banks and credit companies. Moneycostingexpert forum would be more appropriate.

That clause refers to the settlement figure. If they underestimated it, then they would have to apply to the Courts to have the figures uprated.

Gaz83

Alfred1985 wrote: »

The letter they sent you is critical. If you have a statement saying the account is closed they would have to go to court, pay costs etc. and hope the court finds in there favour.

I OBTAINED A SETTLEMENT FIGURE AND PAID THE CREDITOR. THEY HAVE NOW CONTACTED ME AND SAID THE FIGURE WAS WRONG AND I OWE THEM MORE MONEY - WHAT ARE MY RIGHTS?
The Consumer Credit Act 1974 binds the creditor to any statement they provide to the borrower. This means that if they charge you less than they are entitled to, and you pay in good faith, the creditor must apply to a court for the extra money. The court will decide if you have to pay the money that the creditor is claiming. If you receive such a request for extra payments, contact the Citizens Advice consumer service for further information

That isn't what's happened here, though. Your information relates to someone being given a settlement figure, paying that settlement figure and then being told it was an incorrect figure.

That's not what's happened here. Here, the person has been given a settlement figure, and the company claim not to have received the full amount.

Alfred1985 wrote: »

You dont get much help on this forum, it's full of people defending the banks and credit companies. Moneycostingexpert forum would be more appropriate.

Completely disagree. Too many messageboards are full of people telling other people what they want to hear. That's not how the real world works.

redpete

am3x wrote: »

In my eyes £3000 has left my account for certain! but obviously hasn't arrived in theirs! Ive had some number from the company phone me demanding I pay £1000 due to there error! no apology, no letter and has left me angry at the professionalism displayed that is all. so look it at my point of view, in total that will be £4000 leaving my bank! because god knows the £1000 wont be in hers.

No you're confusing me. Did £3000 or £2000 leave the account when you thought the loan had been paid off. If £3000 then you have every right to be annoyed. If £2000 then you (or your wife) has every right to be embarrassed.

dresdendave

OP, in order to receive constructive advice on your next step you just need to answer one simple question.


Did the loan company take £3000 or £2000 from your wife's account?

shortcrust

The OP hasn't be on the site since the early hours of Friday morning. I guess they got their answer.

DCFC79

am3x wrote: »

I wouldnt NOT notice for 4 months

So why has it only come to your attention or why didn't your wife notice sooner ?

If it were me I would have checked the statement a few days later to see if it had been transferred and if the amount was short I would have contacted them to correct it and prevented it getting to this point.

dresdendave

DCFC79 wrote: »

So why has it only come to your attention or why didn't your wife notice sooner ?

If it were me I would have checked the statement a few days later to see if it had been transferred and if the amount was short I would have contacted them to correct it and prevented it getting to this point.

The problem with people like you is that you take responsibility for your financial affairs and monitor them carefully, dealing with any issues that arise in a timely manner.


Please get with the times, make repayments as and when you feel like it, never check statements, never check T&C's, treat credit limits as spending targets, give out card details to all and sundry, claim you've been scammed when you make a poor financial decision and finally, most importantly, when it all goes wrong, it's always someone else's fault.

DCFC79

dresdendave wrote: »

The problem with people like you is that you take responsibility for your financial affairs and monitor them carefully, dealing with any issues that arise in a timely manner.


Please get with the times, make repayments as and when you feel like it, never check statements, never check T&C's, treat credit limits as spending targets, give out card details to all and sundry, claim you've been scammed when you make a poor financial decision and finally, most importantly, when it all goes wrong, it's always someone else's fault.

Have you quoted me in error ?

Gaz83

DCFC79 wrote: »

Have you quoted me in error ?

Think he's being sarcastic...

dresdendave

Gaz83 wrote: »

Think he's being sarcastic...

Well spotted!!