Charges for loan

[mortuk2k]

Hi there,

 

We have had a Blackhorse loan for several years now, it has just been left on a DD and paid without fault for 4 or 5 years perhaps. The repayment is around £50 and frankly we have barely noticed it.

Anyway, in error we cancelled the Direct Debit when having a tidy up of dormant DD's, and we missed a payment.

 

Despite previous good conduct they came down on us very swiftly, a £25 charge and a default, despite settling the missed payment, and paying the next in advance while DD setup again.

 

Simply put, we're furious. So as the loan is around 1k, we're going to get rid asap, but not without first being awkard so and so's.

 

 

Questions:

 

Can I dispute the charge in a similar manner in which the bank charges were being dealt with? (we claimed bank bank charges), if so, can I go straight to the FO?

 

We dont think there is a signed agreement, we never signed one (it is a re-financed loan from years ago when we were pretty desperate), we certainly dont know the terms. How do we go about getting this info?

 

What is minimum that can be offered for a full and final, and if they cannot produce an agreement can this be even lower?

 

 

 

 

Many thanks

[2Grumpy]

By default do you mean that they registered a default with a CRA or they sent you a default notice giving you 14 days to pay?

 

If a default notice then provided that you paid the sum mentioned in the time limit, that should be the end of it (at worst a late payment on your credit record)

 

The charge does sound typical, You could try asking them to justify the sum or refund in the same way as bank charges, but probably not worth going through the courts to recover