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MMF / Cash Genie charges


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Hi all

 

I'm working with Stepchange to get all my finances in order and received some great help from them and also some great help on CAG forums (thanks DX100UK :smile: )

 

I ask MMF for a breakdown of the outstanding debt I have from a PDL and they have come back with this:

 

Loan Date: 17/08/2011

Original Due Date: 31/08/2011

Orig loan value: 200.00

Loan interest: 60.00

Refinance Fee: 1672.00

Late Direct Debit fees: 51.00

 

Are they able to charge £1672.00 for refinance?!?

 

Thanks in advance as always

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