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    • Silveirinha
    • By Silveirinha 10th Sep 19, 2:18 PM
    • 10Posts
    • 0Thanks
    High interst rate on arrears for secured loan
    • #1
    • 10th Sep 19, 2:18 PM
    High interst rate on arrears for secured loan 10th Sep 19 at 2:18 PM
    My ex husband and I took out a secured loans with Prestige (then GE money) 15 years ago. My ex shortly left me after that when I was on MAT leaave. As I was on MAT leave I quickly found my self in arrears. My EX never contributed a penny. For the last 6 years I have made every monthly payment plus a bit extra to bring down my arrears. However when i got a statement it said I still owe 34K (original amount) and that I was being charged intererst on the arrears (2k) . My monthly paymetns are 420 ( including extra for arrears) however my interest is nearly 300 a month. My loan is due to expire in 2021 yet I still owe nealry the whole amount. Is this allowed? is there anything I can do? Due to recieving no maintainence from ex money is very tight to see a solicitor.Thanks
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    • shortcutlacie
    • By shortcutlacie 12th Sep 19, 7:07 AM
    • 1 Posts
    • 0 Thanks
    You better ask for a statement to know in detail.
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