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Shawbrook are NOT listening
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You're going to need to be more specific.1
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Shawbrook bank aren't going to provide you with advice in relation to your debts. Try the National Debt Helpline.1
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You will need to post a lot more detail before anyone can give you any specific advice on this.
To involve the ombudsman suggests you have already exhausted Shawbrook's complaints procedure, what did their final response say ?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-letter1 -
My sister bought boiler through Shawbrook in 2015. She replied to the helplink adert on TV fronted by John Ball for boiler priced at £17.00 a month over 10 years with 10 y warranty. It seemed a great deal but when salesman durned up he pressurised her into buying boiler at £52.00 a month over 10 years. at 11.9% interest. saying others not suitable for her house and these were the only boilers in stock. The cost of boiler was £3770.00 and interest £2543.00 totalling £6300. 00. We asked for settlement recently and they still want £2270.00 .00 so even paying it off 4 years early and having already paid £3640 its only 410.00 saved . This seems ridiculous. We are both pensioners and struggling to pay. She made a big mistake signing up for this but theres nothing we can do about that now. She has retired from NHS now on health grounds.. We cant understand the interest as in last statement it shows average interest amount of £26.00 per each which is about £300 a year. So we expected it to be about £1200 which we can borrow from a relative interst free. They just told me its a calculator that works it out and they couldn't explain how it works. I know the interest reduces each month but it still seems odd that paying it off 4 years early only reduced by £400 over 4 years. ? We did contact shawbrook, helplink and ombudsman 2 years ago seeking help but didnt get anywhere. Can anyone offer any advice.
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jjmurray said:My sister bought boiler through Shawbrook in 2015. She replied to the helplink adert on TV fronted by John Ball for boiler priced at £17.00 a month over 10 years with 10 y warranty. It seemed a great deal but when salesman durned up he pressurised her into buying boiler at £52.00 a month over 10 years. at 11.9% interest. saying others not suitable for her house and these were the only boilers in stock. The cost of boiler was £3770.00 and interest £2543.00 totalling £6300. 00. We asked for settlement recently and they still want £2270.00 .00 so even paying it off 4 years early and having already paid £3640 its only 410.00 saved . This seems ridiculous. We are both pensioners and struggling to pay. She made a big mistake signing up for this but theres nothing we can do about that now. She has retired from NHS now on health grounds.. We cant understand the interest as in last statement it shows average interest amount of £26.00 per each which is about £300 a year. So we expected it to be about £1200 which we can borrow from a relative interst free. They just told me its a calculator that works it out and they couldn't explain how it works. I know the interest reduces each month but it still seems odd that paying it off 4 years early only reduced by £400 over 4 years. ? We did contact shawbrook, helplink and ombudsman 2 years ago seeking help but didnt get anywhere. Can anyone offer any advice.
A really quick use of an online calculator shows that nearly £2082 should be outstanding in capital at this point. Not far off the settlement figure quoted.
I'm sorry but that's just the way loans work. There is nothing to complain about in regards to that.1
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