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Settlement Figure, can anyone DUalCalc this?


cluttermoney
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Hi, I tried to get my head round dualcalc and searched here for ages but I'm stumped!

 

Im trying to get a settlement figure from MoneyBarn for a Car HP

and they keep giving me conflicting info so

 

I want to try work it out myself as

 

I got a settlement figure two payments ago and

 

comparing it to the one now it's £50 less which is bizzare,

 

after numerous phone calls they are telling me the previous one they gave me is wrong?

 

sounds like they've made a right hash of it.

 

They said they will send me a statement so I can work it out and query them if I think it's wrong, er wtf?

 

So here goes (from the statement they just sent)

 

Loan amount £6795

Initial payment £400

APR 30.3%

Term 48 mths

Total payable £11,437.95

 

1st payment 8th Mar 12 £234.85 and I've made 10 payments since

 

Their total paid so far is £2748.50 which is all the payments I made plus £400 deposit.

 

How does that £400 come into affect because that was what I gave the car dealer?

 

i.e the car cost £7195.

 

Are they saying I've borrowed 7195 and made a first payment of 400?

as that's naughty isnt it?

 

could someone please dualcalc that and let me know how much I actually owe as a settlement as I have no faith in these cowboys.

 

I've attached my statement hashing out personal info if someone can help and I'll donate you a coffee/beer/lunch!

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urm yes

 

they had you for that £400

 

that should come off the PRICE OF THE CAR

 

not taken off the agreement balance AFTER interest has been added.

 

have you the original agreement?

 

MB are well known for doing that

ot taking it off the insurance [PPI/GAP] etc.

 

I don't thin kyou'll find this is HP though

 

its a conditional sale agreement

almost the same but not quite.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Yes sorry it's not HP it is conditional sale.

 

Yes I have my original finance documents.

 

I just dont understand the crap they are telling me

 

1st Nov ask for a settlement - £6300

30th Nov (1 payment later) ask again £6180

8th Jan (2 payments later dec and jan) £6128

 

They say the 30th figure should hav been £64xx. How is that even possible for a settlement figure to go UP from 1st to 30th nov?

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