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Managed Loans..
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theauth0r
Posts: 53 Forumite
Hi guys, I'm just after a little advice...
I had to take a managed loan back in 2004 and was paying £40.00 per month to cover the costs.
I've just managed to logon to my online banking for that account for the first time and noticed that from each payment of £40 I've been paying every month for the last 4+ years, £21 - £23 of that has been interest.
I still owe £1600 on this loan after 4+ years... it just won’t seem to go down.
So my question is...
Do managed loans fall in to any category where I can claim back the interest?
I remember reading something a while back about people being forced into managed loans, and there was a way of claiming something back from it... but I couldn’t find anything when I searched for it today.
This is just one tiny hurdle that I’m facing at the moment and need to try and get this dept sorted before I venture on to my other accounts
Any advice or help would be appreciated.
I had to take a managed loan back in 2004 and was paying £40.00 per month to cover the costs.
I've just managed to logon to my online banking for that account for the first time and noticed that from each payment of £40 I've been paying every month for the last 4+ years, £21 - £23 of that has been interest.
I still owe £1600 on this loan after 4+ years... it just won’t seem to go down.
So my question is...
Do managed loans fall in to any category where I can claim back the interest?
I remember reading something a while back about people being forced into managed loans, and there was a way of claiming something back from it... but I couldn’t find anything when I searched for it today.
This is just one tiny hurdle that I’m facing at the moment and need to try and get this dept sorted before I venture on to my other accounts
Any advice or help would be appreciated.
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