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Hi,

 

Can someone please advise if this is correct?

 

I eventually received info from Welcome Finance, after sending them an SAR (Only took 60 days!!)

 

After checking my statement, I think they have charged interest on the acceptance fee and also miscalculated the interest.

 

I borrowed £2500 on 6th June 08, to this they added £75 acceptance fee. I then made my first payment of £136.18 on the 25th June, leaving a balance of £2438.82. The "Capitalisation" charge, which I gather is the interest, should be 4%, which on £2438.82 works out at £97.55, but they have charged me £143.28.

 

Firstly, is the interest correct and can someone work out if they have charged me on top of the acceptance fee. Whilst working out the rest of the statment, the interest charges are not 4% but out by a couple of quid, so do I have any rights to dispute the loan?

 

Thanks in advance

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