Added interest on to 8 year loan because of the date taken from the account

blackandwhitebunny

I've just had a very similar situation with Black Horse. We took out a loan that we were to pay back over 60 months. I checked and it seemed we had more than a month and a half payments left after the sixty payments would finish. When I phoned them they explained that it was because we received the money at the beginning of May but only made the first payment at the beginning of July so had had extra interest added for this time. I challenged them and said we had met all the terms as stated in our credit agreement and that no-where could I find any terms relating to this and that as far as I could recall they had set the direct debit payment up and chosen the date, they've agreed and said that they would close the account after the 60th payment is made and cancel the remaining balance. The bloke that I spoke to said that they were unable to send me confirmation in writing (what, what sort of way is that to run a business but I digress) so I have written to them stating who I spoke to etc and am waiting for confirmation back.