Everyday loans help

siowalker

Hello,


I am new to posting and I would firstly like to state that I would really appreciate any help and/or guidance on my issue.


My husband and I were in a really bad financial state last year and we took out a loan with Everyday Loans with an extortionate APR. We are now in a position where we could pay this loan off and we are currently awaiting a settlement figure from the company in order to do so.


However, it was not until I was looking through the paperwork last night that I noticed a discrepancy on our loan agreement. The capital of the loan, plus the interest on the loan does not add up to the total amount payable. ie £2000 loan with £2000 interest should calculate to be £4000 repayable, which over 24 months would be £166.67 per month. In our situation the agreement is out by £1,100 from what the total payments are to the interest plus capital.


There are also a couple of little funnies as our agreement is not actually signed by them and it is also not dated. Furthermore, I recall reading somewhere that the company was legally obliged to send us statements... can someone please confirm if this is every 6 or 12 months? At the moment we are yet to receive a statement, however the loan is only 10 months old.


Thanks in advance for any help, it really is much appreciated.

CHR15

No it won't be written off.

Puddylove

You want us to say 'No, you get to keep the money' but I doubt any of us will.
If you agreed to the terms, and took the money then do the moral and honourable thing and pay your debts.
P x

jonesMUFCforever

Statements - on an annual basis - sorry.

[Deleted User]

Have you had the settlement figure through? as you could find it evens out the interest paid? otherwise check out these links to build on what you need to do next

http://www.thecomplainingcow.co.uk/how-to-complain-tips/


http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/fair-treatment-of-customers
(outcome 5)