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Avantcredit advice?
Hi.
I took a loan out with Avantcredit August 2015.. stupid idea! I pay 125 a month and the balance has only gone down by £300! The interest is so bloody high.. my own fault I know, but I had an urgent need for it and my credit wasn't the best so I was unable to get any better deals..
Anyway, my credit union have agreed to clear this loan for me (I will pay my credit union monthly which MUCH less interest) however they will only make payments on my behalf via BACS/Bank transfer. Advantcredit are being difficult saying they won't give me their account number or sort code to pay with.. is there anything I can do to get around this? Would a complaint to the ombudsman do anything?
I spoke to a lady from Advantcredit last week who said she didn't think it would be a problem. Then this week everything has changed and apparently they won't be giving the details to me? I feel as though they are placing barriers deliberately to inhibit me from paying this off early (and saving myself thousands in interest)
Any advice would be greatly appreciated!
I took a loan out with Avantcredit August 2015.. stupid idea! I pay 125 a month and the balance has only gone down by £300! The interest is so bloody high.. my own fault I know, but I had an urgent need for it and my credit wasn't the best so I was unable to get any better deals..
Anyway, my credit union have agreed to clear this loan for me (I will pay my credit union monthly which MUCH less interest) however they will only make payments on my behalf via BACS/Bank transfer. Advantcredit are being difficult saying they won't give me their account number or sort code to pay with.. is there anything I can do to get around this? Would a complaint to the ombudsman do anything?
I spoke to a lady from Advantcredit last week who said she didn't think it would be a problem. Then this week everything has changed and apparently they won't be giving the details to me? I feel as though they are placing barriers deliberately to inhibit me from paying this off early (and saving myself thousands in interest)
Any advice would be greatly appreciated!
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Comments
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How do you currently pay them?0
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They charge my debit card each month0
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Contact them for a settlement figure, and for methods of making that payment. That might unearth some options.0
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I would email them at resolutions@AvantCredit.co.uk and say you are attempting to settle your account and can they please let you have a statement. If you need a few days to arrange the transfer then tell them when you will be paying them as they will need to calculate the interest accordingly.
It appears that they are still on Interim Permission (IP 657278) so I doubt they want anyone kicking up a fuss about not being able to settle early. Maybe, in a non-threatening sort of way, suggest in your email that you might need to go to the ombudsman via the FCA as your next point of escalation as you have tried to settle the account in good faith and their actions are now costing you money. Any evidence you have about when (and how often) you contacted them, etc would obviously help. It would also help to have the name of the person you spoke to on each occasion you called.The views expressed here are my own. I am not a Solicitor nor am I affiliated with any of the parties I mention. If you disagree with any of my comments please say in whatever way feels most natural to you. No one self improves in a bubble!0
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