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    • In my experience (not with car payments) but with many other things, my partner has been ill and signed off in the past and we have been unable to meet various commitments.  Naturally if you ring the call centre they are going to fob you off and tell you you must pay, that's why that never ever works. I would obtain a note from her GP listing all her health issues plus medications plus side effects, then write to the finance company with a copy of it, explaining the situation, as you have here, asking for a payment holiday. Perhaps mention that the car is very much needed for hospital appointments etc. It's likely the finance company would rather you pay till term end than, chase you for money they will never see, and sell the car at auction for a loss,  You can search some of my threads going back years, advising people to do this for Council Tax, Tax Credits, HMRC, Even a solicitors company and it always works, because contrary to popular belief people are reasonable.
    • Sorry, I haven't ever seen one of these agreements. Read it all and look out for anything that says when she can withdraw and when she is committed to go ahead. If it isn't clear she may need to call the housing provider and simply say what you posted here, she doesn't want to go ahead and how does she withdraw her swap application?
    • Thank you! Your head is like a power bank of knowledge.  Her health issues are short term, due to a relationship breakdown she took it pretty hard and has been signed off work on medication for 3 months. She only started her job in February 24 so does not qualify for any occupational sick benefits, which is where the ssp only comes in. (You will see me posting a few things over the coming days, whilst I try and sort some things for her)  I sat with her last night relaying all this back and she does want to work out a plan, she was ready to propose £100 for the next 3 months and then an additional £70 per month onto of her contractual to "catch up" but Money247 rejecting the payment holiday and demanding £200 thew her, which is why I came on here.   
    • I've looked at your case specifically more.   Term 8bii reads " when, in accordance with instructions from the Customer or the Consignee, the Consignment is left in a safe place" Their terms choose to not define safe, so they are put to proof that the location is safe. If your property opens onto a street its a simple thing of putting a google earth image and pointing out that its not a safe place
    • New rules and higher rates resulted in a jump in the number of savers opening accounts at the start of this year's Isa season.View the full article
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Confused on Interest, please help :(


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Hi there,

 

i have a credit agreement and im trying to work out how they came to me paying them 53.72 a month and how they got to the interest they did but all of it goes over my head... so if i give the figures hopefully you guys can help me work or would it be easier to post the agreement itself?

 

Also if the amount im paying back doesnt add up does it void the agreement?

 

anyway here is what i have...

 

Amount of Credit 1247.00

48 Monthly repayments each of 53.72

first repayment due 12 months after advance date.

 

Total amount payable 2978.56

APR 29.8%

 

then in a seperate called other fincial information i have this...

 

Computer Equipment

with a cash price of 1647.00

advance payment payable by you 400.00

Total Charge for credit 1331.56

made up of interest 1331.56

 

but no matter what i do the online APR calculators dont give them same :Cry:

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Hi, would probably be best if you can scan and post up the agreement ( remove all personal info but leave figures in )

 

We can then take a look and tell you if the figure are correct and the agreement enforcable.

 

If you need any help just ask !

 

Cosalt

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Hi there, any help would be greatly appreciated... Here is the agreement itself that they sent me

 

44313775.th.jpg37595918.th.jpg

 

However they dont have the original terms and conditions that go with it.

 

if you times 53.72 by 48 and add my 400 deposit you get the figure they are qouting which means they worked out the interest on 1647 i think when it should of been the 1247 like it says but i cant make the 1647 come to their figure either :(

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I have had a look and it appears correct, the amount of credit plus the quoted interest divided by 48 = £53.72.

 

However I can't work out the APR because of the deffered start, I had this problem when checking one of my agreements, dualcalc does not appear to cater for it.

 

The apr being wrong is I believe your only hope as all other prescribed terms are correct, hopefully someone else may be able to calculate it to check.

 

Cosalt

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Hi Cosalt, i have downloaded dualcal but it went right over my head :S

 

anyway i just spoke to BPF who own Clysdale now and the guy one the phone told me that the interest is charged from the end of the advanced date over 4 years and not from the beginning over 5 years...

 

i then asked him to work it out, he went silent for a little while and said he was going to refer on to custoemr services as he couldnt get it to add up, i then told him what the FSA calculator got, he got angry at me and hung up :(

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I would bet on it he is wrong, I have had a few agreements like this in the past whereby you have a 12 month interest free option. If you pay before the 12 months they charge you no interest but even one day over and you will pay interest back dated to the start.

 

You need someone to check the apr based on the 12 months deffered but I can't do it on dualcalc.

 

Hopefully these posts will bump it up so someone can take a look.

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well i don't know if this helps, but if i didnt pay anything for a year on the 1247 with their set interest rate it would go up to 1618.61

 

could you then use dualcalc to work out the monthly repayments from that figure?

 

trying to still get my head round dualcalc but its too confusing...

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