loan with picture finance now webb resolutions

[karbro47]

Hi there

this is my first time posting here and any advice greatly received.

In 2006 I took out a loan from picture financial which was almost certainly the worst mistake of my life! The original loan was for £72K and was taken at a time when almost certainly I should have looked at a debt management plan instead.

 

The debt has now been taken over by Webb Resolutions but I have never had a statement about the loan for at least 4 years although the payment is still collected this month.

 

This morning I called to enquire about a settlement figure and was informed that the amount would be £66K which is only £6K less than we originally borrowed despite paying almost £600/month for the last 7 years. The interest on the loan is now over 9% despite it being just over 5% when we took the loan.

 

I may be in a position to have some funds (nowhere near their settlement figure) to try and pay off the loan but does anyone have any advice about approaching them about a full and final settlement and what to offer. Also would this normally have to be made by someone acting on your behalf.

 

thanks for your help