We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Likely loans extra charges
andrea_mason
Posts: 2 Newbie
in Loans
Hi all,
I took out a loan 10 years ago, which I made my last payment on last month.
The loan has been repaid in full, I have never been in arrears or late with any of my payments.
Today I received a letter from the company which contained a bill for £305!!
When i rang and asked why, I was told that £150 was a redemption charge and the guy couldn't explain the rest.
I've asked them to send me a full breakdown of costs and a copy of my loan agreement, I can't even work out what these charges are for.
Has anyone else had this happen to them?
Thanks in advance
I took out a loan 10 years ago, which I made my last payment on last month.
The loan has been repaid in full, I have never been in arrears or late with any of my payments.
Today I received a letter from the company which contained a bill for £305!!
When i rang and asked why, I was told that £150 was a redemption charge and the guy couldn't explain the rest.
I've asked them to send me a full breakdown of costs and a copy of my loan agreement, I can't even work out what these charges are for.
Has anyone else had this happen to them?
Thanks in advance
0
Comments
-
I'm surprised they have records going back that far.0
-
Secured loan?0
-
If it is secured then to take the charge off your property there will be land registry charges but to be honest £300 is over the top unless this was specified in the original loan documents.
You could tell them to keep the charge on until you want to sell the property but might cause problems further down the line.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.4K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards