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AA LOAN (BANK OF IRELAND
amck75
Posts: 7 Forumite
Hi, i took out a £10000 loan over 84 months with AA in 2022, the monthly repayment was £168.03. Ive made 21 payments so far totalling £3528.63. I've been given a settlement figure of £10417 which is more than I borrowed, so basically every paymemt I've made so far has been 100% interest. I know that you pay more to the interest at the start of a loan but surely not the entire amount! How can they get away with this!!!!
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Comments
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Are you sure that is a settlement figure and not your current balance - looks pretty close to total amount repayable minus what you have already paid, which is not an early settlement figure.
This might have been better on the loans board.0 -
Thanks Phoenix, i have moved it over to the loans section.Phoenix72 said:Are you sure that is a settlement figure and not your current balance - looks pretty close to total amount repayable minus what you have already paid, which is not an early settlement figure.
This might have been better on the loans board.0
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