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Equifinance
Hi can anyone help me please
i took out a Equifinance loan of £10000 the term of this deal has now finished yet they are saying i still owe a staggering £6900 despite only being 6 months in arrears i find this staggering can anyone help if i should take this further.
i took out a Equifinance loan of £10000 the term of this deal has now finished yet they are saying i still owe a staggering £6900 despite only being 6 months in arrears i find this staggering can anyone help if i should take this further.
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Comments
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We can't say if its staggering or not as you haven't given any detail. However, it's almost certainly correct.
You need to confirm it with the lender and agree a repayment plan.0 -
The only thing staggering here is the % rates that Equifinance charge so highly likely it is correct.0
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OMG, I didn't realise how much they charge. I too am staggeredThe only thing staggering here is the % rates that Equifinance charge so highly likely it is correct.
:eek::eek::eek:I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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Deleted_User wrote: »We can't say if its staggering or not as you haven't given any detail. However, it's almost certainly correct.
You need to confirm it with the lender and agree a repayment plan.
Hi thanks for your reply a payment plan is in place i just cant believe the excessive amount i have to repay despite the loan term finishing guess its just the worst company to take a loan out with0 -
With second charge loans such as this, apart from the 37% they initially charge you in interest, there are other fees to pay as well, this will include a monthly fee for being in arrears, interest on your arrears, a fee for being in an arrangement, and any other fee included in your agreement that they can charge you.
Being in arrears massively increases your debt, especially at that interest rate.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »With second charge loans such as this, apart from the 37% they initially charge you in interest, there are other fees to pay as well, this will include a monthly fee for being in arrears, interest on your arrears, a fee for being in an arrangement, and any other fee included in your agreement that they can charge you.
Being in arrears massively increases your debt, especially at that interest rate.
guess i am screwed and have to pay it really annoyed and disappointed i took this out !0
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