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demelzza

Affirmative Finance Loan Settlement Charges - Help Wanted Please

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Hello Everyone

 

Some months ago, amazing people on this group gave tremendous advice and support, that allowed me to avoid eviction and to remain in my home until I completed on a sale. Exchange is due this week....

 

My question this time is this; I have a bridging loan also on the property, run over time and paymants outstanding, because of illness, job loss etc. Now these people will be taking from me the amount of the original loan, which of course I owe; then the outstanding payments, which I owe, but then they want to add another 50% on top with no explanation why or breakdown of how they reach the sum they are asking for. They tell me it is negotiable, but before I even get into that, I want to know if they can just charge any figure. We have to agree of course, or there won't be any completion, but that will not be to their benefit I know because they won't get their money.

 

I need to resolve this soonest and thought here was the best place to start.

 

Many grateful thanks,

 

Demelzza

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Presumably you signed some kind of contract for this. If you have a copy then I suggest you start by reading the small print.

 

When you say they are adding 50% on top, what is it 50% of?

 

Also who was the loan from?

 

Was the loan for over £25k?

 

Was there PPI on the loan?


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Hello

 

Thank you for your reply.

 

It is 50% of the original loan of £79k, from Affirmative Finance, according to my solicitor who received a settlement from them last week it was £126k, two days later in court, they tell me £128k.

 

No there was no PPI.

 

I am wading through the small print, but as is so often the case, it is as clear as mud!

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Flaming Nora. That's ridiculous.

 

I'll move your thread to a more appropriate forum to see if we can get you more help there.

 

You could write to them and ask for a breakdown of how they've arrived at that figure.


 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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Thanks so much Caro, sorry for the delay in replying, I have still been wading through the small print!

 

Where have you moved it to...?

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Hi - this sounds like extortion again - wouldnt mind betting its some fees and erc charges loaded up in there - where is the thread now please???

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I would send this crew a sar and demand the breakdown and reasoning behind this extortion, I would also instruct the solictior to only pay back the original loan and interest applied, less the payments you have made


PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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