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OH has just paid up a motorbike loan with Black Horse and they sent a letter stating that the loan was paid up but there was an outstanding amount of £26.52 that needed to be paid before cancelling D/D.
This is made up of £25 '10 day collection activity fee' plus 'late payment interest'.
I managed to cancel D/D at 11th hour and now they have passed the 'debt' over to a collection agency who have said that Black Horse would be prepared to 'negotiate a reduced payment'.
Just want to make sure I say the right thing and that they are unable to collect this money including the interest as the 'fee' is a penalty charge and therefore unlawful.
Could someone just confirm the wording is OK please?
ta muchly
jax
This is made up of £25 '10 day collection activity fee' plus 'late payment interest'.
I managed to cancel D/D at 11th hour and now they have passed the 'debt' over to a collection agency who have said that Black Horse would be prepared to 'negotiate a reduced payment'.
Just want to make sure I say the right thing and that they are unable to collect this money including the interest as the 'fee' is a penalty charge and therefore unlawful.
Could someone just confirm the wording is OK please?
ta muchly
jax
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