Credit union loan refinance horror

[kokobhu]

Hello guys. I need some advise on a loan I took out in September 2012. The was from a Credit union for £2,000. The terms of payment for the loan was very excruciating at £190.00 per month. When I inquired I was told it was because of my citizenship but luckily my British citizenship was already in the pipeline so when it came through a month later I approach them for a lower repayment rate which they agreed to at £70 per month @ 26 months.

 

By the time of refinancing the loan was already down to 1382.03 and according to the new refinancing terms the total payment will be £1782.03 to be completed by January 2015. I have paid from from January 2013 till present making altogether 24 payments of £1680 leaving £102.03 to pay. So you can understand my absolute incredulity when I requested for an update on the account and I was informed that the loan will not as initially mentioned end in January new outstanding balance of £376.94. The person in charge said it was a mistake they made in their calculations.

 

By my calculations and statements I don’t see why I should still be paying till June 2015, it really beats me as to why and neither can they give me any cogent explanation to explain. Any advice please as to how to resolve this? Will be most appreciated..I have attached my the two agreements before refinancing and after.To my best recollection I have signed no other agreements apart from these.

Edited December 13, 2014 by kokobhu