Financial Ombudsman

LABMAN

MrBlueSky2018 wrote: »

No not 'vexatious'. If I had paid for a car on HP and the final account charges five years later were obviously much higher than had originally agreed, then anyone on here would ask for the loan company to prove their calculations.
The adjudicator for the FOS had not explained in the beginning of the complaint that I was not able to request interest rate used.
No missed payments.

Please post the numbers as asked!

dunstonh

MrBlueSky2018 wrote: »

No not 'vexatious'. If I had paid for a car on HP and the final account charges five years later were obviously much higher than had originally agreed, then anyone on here would ask for the loan company to prove their calculations.
The adjudicator for the FOS had not explained in the beginning of the complaint that I was not able to request interest rate used.
No missed payments.

What you are alleging is a breach of the consumer credit act. The CCA requires payments to be set in advance on the agreement. The payments should match those unless any other payments have been trigged (such as mileage excess or condition of car excess). The interest rate would appear on the agreement.

What does the credit agreement show as interest rate and payments? What did you pay? What reason was given for the difference between the agreement figure and what you paid?

The adjudicators are low level, unqualified staff. They wouldnt know this sort of thing and would largely be winging it.

antrobus

JimmyTheWig wrote: »

This is his thread!

.

It is now. But what is now post #4 was originally somewhere else.

It appears that the OP has taken my advice (always a good idea ), started his own thread, and that some backroom wizard in MSE central command has moved the OP's original post into this thread together with some of the responses.

See, I'm not mad.

antrobus

LABMAN wrote: »

Please post the numbers as asked!

It's the only way we are going to get anywhere.

Nearlyold

If I had paid for a car on HP and the final account charges five years later were obviously much higher than had originally agreed

If you take out a fixed sum/rate/term bank loan and make all the payments, the only way you can have "paid charges much higher than originally agreed" is either your monthly payment was higher than stated in the agreement or you made more payments than stated in your agreement. Can you say how much more than was stated in the agreement you actually paid and was this because your payments were higher than agreed or was the term longer (or a combination of both).

JimmyTheWig

I'm assuming that, looking back, the schedule of payments agreed doesn't match what the OP thinks it should have been given the loan amount and interest rate.