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About kay000

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  1. Please can anybody advise what the worst case senario will be, as already struggling to keep up with regular on time payment. Would paying a lump sum back be advisable? Able to borrow a lump sum but not total settlement figure from family interest free. Problem is do not know what the resulting monthly payment will be considering will have to also be paying back sum borrowed from family. Will this be a wise thing to do?
  2. Unfortunately, only a verbal agreement to review the interest rate after the said period, naively took the advisoro word and went with it. Classic preying on desperation, .
  3. Yes agreed it was a high interest loan for high risk customers, but the belief was that this outrageous interest rate would be reviewed after six months of regular payment and asserting that the loan would be eventually paid off with a view to building a good credit history for the customer. Rather it turned out to be a trap to hold desperate people for as long as possible in debt bondage for unfair profits! very pathetic!
  4. Hi everyone. Please if theres anyone with experience dealing with everydayloan, any advise will be helpful to help with ongoing dispute. Thanks
  5. I do not know for certain the formula for calculating the rebate applied for early settlement.But i honestly think that a fair view is to divide expected amount of interest by length of loan ie £8420.96 by 4 so that expected interest for each year should be £2105.24. I would think a fair settlement should be in this region. Please any advice on this outrageous rate is useful.
  6. At the least a figure less than original amount taken not more than loan amount after more than 12 monthly payment of £240. Very unfair!
  7. Firm is everydayloan. Can only describe them as loan sharks who prey on peoples desperation.
  8. Thanks Martin. So the loan is £3100 taken out from everydayloan in Sep 2015 for 4years (48 number of monthly of £240.02) APR Variable 133.6% (crazy you might say) But with verbal assurrance that this will be reviewed after six months of timely payment which never happened. so interest is calculated to be £8,420.96 Therefore total amount to pay would be £11,520.96... Settlement figure issued as at february 2017 is £3,390.72 after monthly payments from 01/11/15 up to jan 2017. Can a reasonable settlement figure be negotiated as hoping to get out from this hell of a loan which
  9. Dear all, I have a case that is of interest to me that i am hoping we could find some advise on here. Its about a high interest loan that was taken out in November 2015 and monthly payments have been up to date till January this year when a settlement figure was requested. The figure provided still turned out to be more than actual amount borrowed after a year plus of making regular monthly instalments payment. Please any advise on the best line of action will help.
  10. Yeah Sham. I guess so too. I might have even been able to counter claim if i had attended,..lol, . To think that Claimant even rejected my Tomlin offer,.
  11. Very sorry for taking this long to update recent events with my lowell battle. after sending in my supplemental witness statement on the 5/01/17 I'm very happy to announce that i received a general form of judgement from the court stating as follows: Before District judge xxxxx sitting at the County Court at XXXxXXX Upon hearing the Solicitor for the Claimant and Defendant neither appearing not being represented IT IS ORDERED THAT Claim dismissed. Dated 10 Jan 22017. Hurrayyyyy!! Thanks for all the support and very useful advice i got here. Really very grat
  12. Thanks Andy, please am i correct with the charges of £306 applied., please help review.
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