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Toothfairy - ongoing interest


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Hi Everyone,

Further to my previous thread about TF/NDR, I wonderred about how much I should agree to pay them in interest. They appear to be adding £54 in interest each month (or each 30 days, I'm not sure) to my account.

Now, first of all I have asked them to send me a statement of balance/interest/charges etc. which they have yet to do. I've taken this up as a formal complaint with them so they have 40 days from 23rd Dec before I can take it to the FSO.

However, I recal hearing others talk about only paying one months interest after the original term of the loan. Can anyone clarify this for me?

Thanks,

Mathew

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