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    • varghesejim
    • By varghesejim 12th May 18, 10:08 AM
    • 150Posts
    • 53Thanks
    PCP-can lender prevent overpaying legally
    • #1
    • 12th May 18, 10:08 AM
    PCP-can lender prevent overpaying legally 12th May 18 at 10:08 AM
    Can a lender discourage/prevent PCP over payment in their contract legally? Can they specify fines for overpaying or limit the amount to be overpaid in a year or so? If yes, is there a limit on the fine for overpaying they can charge legally?

    I understand such fines are allowed for PCP settlement with the fines limited by a fixed number of months interest. To prevent that fine is it possible to overpay all the remaining debt minus 50 pounds or so and then settle?
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    • G_M
    • By G_M 16th May 18, 10:16 PM
    • 45,869 Posts
    • 55,357 Thanks
    • #2
    • 16th May 18, 10:16 PM
    • #2
    • 16th May 18, 10:16 PM
    Only a court can demand a fine.

    A contract may speciify an admin or othre fee for over-payments though.
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