Showing results for tags 'â£6'.
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Hi. Long time since I last posted on CAG. I am hoping someone can help me guide my Brother. He had a loan for £1000 way back in 1991. PPI single premium was added making his total loan £1,112. He still had his original loan agreement which made it very easy to fill in his claim form for missold ppi. He originally had gone to his bank to take out a pension plan with scottish widows (still running) whilst there he was encouraged to take out a loan also. That was his first and last loan! On to the misselling of ppi, when he called back into the bank to sign the paperwork for the loan, the form had been prefilled. He hadnt been given a choice on taking out the ppi. he states that when he questioned the figures prior to signing it was only then he was told it was required for the loan. lloyds letter just consisted of a breakdown of his ppi figures and conclude that he is entitled to a refund of £6.33 including interest. Im a little bemused and wondered if I should be doing a spreadsheet to include 8% interest? Any help would be greatly appreciated Thanks in advance P.S The offer letter arrived Thursday and the cheque arrived this morning. Quick service.....
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Being a pensioner[to prevent £6 charge I usually leave enough money in account to cover the interest charges. This time I knew my pension was due on 19th which unfortunately clashed with an outgoing leaving not enough to cover the interest charges. Fool me thought [what cat did] that the incoming pension would cover it - no such luck. Seems the computer processes all outgoings, apply charges then processes incomings on same day. I think this is criminal. -
A YOUNG office worker has told how a £100 loan ended up costing him £6,000. Nick Ellis' finances spiralled out of control after he says they were "hijacked" by high-interest online loan firms. Nick Ellis A top money expert today launched a scathing attack on 'payday lenders' and likened the industry to the drug trade. Recession-hit Brits flock online to borrow £1billion each year from the booming payday loan industry. But behind the glossy TV adverts and catchy company names are "merchants of misery" who prey on the young and vulnerable, according to Plymouth-based Steve Meakin, chairman of the Institute of Money Advisers. The leading cash expert spoke out amid fears of a ballooning crisis of debt-riddled youngsters in the city. "Debt, like drugs, destroys lives," Mr Meakin said. New research from the Plymouth Citizen's Advice Bureau (CAB) reveals how around one in five disadvantaged under-25 year-olds in the city has already taken out a payday loan – and half admit to money worries. The paperwork-free loans can land in a borrower's bank account within minutes – but often come with astronomical interest rates and pricey penalties for missed repayments. "There has been a huge explosion in the use of payday loans," said Mr Meakin, money advice coordinator at the CAB. More ...
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