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Missed payment

Johar
Johar Posts: 3
Tenth Anniversary Combo Breaker
Newbie
I took out an interest free loan last September to have a kitchen fitted. My intention was to pay it all this September. However I missed the deadline date of the 25th, thinking it was the 27th. The company are now asking for £600 in interest because I missed the deadline date.
I want to pay the whole amount so it's not like I'm avoiding paying.
Do I have any way of avoiding paying the interest?

Comments

  • Willing2Learn
    Willing2Learn Posts: 6,294
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    You can ask for some goodwill...but other than that...you will probably have to pay in accordance with your original credit agreement (including interest).
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • No, if the contract had a deadline and you missed it.
  • foxy-stoat
    foxy-stoat Posts: 6,879
    Eighth Anniversary 1,000 Posts Name Dropper
    Forumite
    Its been 7 days since you missed the deadline to avoid the interest, which is 5 days since you thought the deadline was due - why wait so long to ask on here.

    Doubt there will be any goodwill as you have enjoyed the interest free period.
  • As @foxy-stoat mentioned, you are currently within grace period, I would check your contract Terms and Conditions to see what's the length of that period, if it's 7 days you should pay it today (not tomorrow) to avoid being in default.
    I would double check the contract agreement, but most importantly, pay it outright if you can and avoid those £600 being even higher.
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