Loan Charges

nross28

Hi,

Can anyone tell me if you can claim back loan charges the same as bank charges?

I have been charged £100's over the years by my Loan company for late payments / missed payments plus £20 every time they ring me etc.

Granted, if i had paid on time every month then there wouldnt be a problem.

ps. im with Welcome Finance!!
Cheers

Virago1945

I have just settled a £20,000.00 business load to HSBC and they have charged me an additional £1650.00 in charges after I settlement date. After exhaustive correspondence disputing the charges the Bank put the dispute with a Debt Collector and registered a default on my unmarked credit rating.Interstingely I have now in the process of issuing Court proceedings against the charges but have been informed that all cases dealing with Bank Charges are being put on hold until a ruling is issued in the High Court in February 2008. Do you know anything ?? Regards Nicholas

petermb_2

Claiming back charges on loans is not quite like the bank charge issue.

What you tend to find with companies such as Welcome is that they get other things wrong, usually at the beginning of the loan, which means that all the payment calculations for the duration of the agreement will be incorrect.

This will often mean that their penalties and fees are unjustified and often can be claimed back with any other redress that may be due.