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Hi all
Could do with a bit of help please, I thought I had finished paying my A&L Loan, but along comes a default notice, apparently I missed a payment last year when I became ill, before PPI kicked in.
Could you please look at the agreement and see if it is valid. The apr on agreement states 7.4% but on Annual statement sent end of last year states 7.44% I know it is not much but makes amounts incorrect.
Also should the agreement have a cancellation box? you will see on the pic I have put an arrow pointing to a bit that says "non canc" does that mean non cancellable?
One more thing should I have been paying interest on the PPI payments, A&L would not have paid the full premium to insurers at the begining of the loan would they, more like they paid each and every month that I paid.
Any Help would be appreciated.
Thanks Jim
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IF WE HAVE BEEN HELPFUL -PLEASE, PLEASE, PLEASE GIVE A DONATION TO HELP US TO CONTINUE HELPING YOU
I AM HAPPY TO RECEIVE PM's AND I WILL RESPOND IF I FEEL I CAN ASSIST BUT WHEN YOU DO CAN YOU PLEASE PROVIDE A LINK TO YOUR THREAD ON WHICH YOU WOULD LIKE ME TO COMMENT - THANK YOU
IMPORTANT - If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.
Before you decide,consider the users here who have already offered help and support.
Private message facilities are offered for users to communicate issues that are/or could be seen to be inappropriate for posting on the main forum.Site rules explain this in more detail.
If you are approached by private message with a view to asking you to visit another website,please inform the site team via the report icon.
Hi 42man,
Thanks for your help on this, I am uploading the default notice and notice of default sums that I have received 2 of one on the 11/7/09 and this one 26/9/09.
I thought all this had finished last year, but I had missed a payment in october, my fault as I had no money (still haven't) I am sure that our friends at A&L have got it all right and I owe the money but I think £25 a time to send a letter is a bit off.
Thanks again for your help.
Jim
Please can someone look at the default notice, it is 14 days from typing the notice to the date I have to sort it. It also says my action needed is to pay an overdue sum of £352.89 but then says further down that balance outstanding is £377.89 and amount to be paid £397.99 There is also a minus sum of £20.10 confused or what!
Please give me some guidance.
Jim
The default notice is merely a way that A&L make extra cash on late payments. They make a charge of £25 for a late payment, there will probably be a late payment shown on your credit file too. Speak to the arrears department, bring your account up to date and ask to have the £25 refunded. Maybe someone could take them to court to get charges refunded.
Thanks for your reply, I have sorted this out now, but I only paid the £352.89 which was the last payment on my loan. I spoke to them on the phone and told them that I would not pay the 2 charges of £25 each, and the customer services person said that if I paid there and then she would waive the charges. I must add that the payment was 1 year late to finish the loan.
And yes I did record the call. I have purchased an olympus voice recorder from Comet it has the facility to record from the phone line using a plug from maplins. The whole lot worked out at about £60 I couldn't afford the truecall (still can't at the mo) the olympus works a treat and you can download the files to the PC and play on media player.
Query on A&L Loan APR 7.4% or 7.44%
kicked in.
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