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Hi,
I recently gave moneybarn notice that I wanted to voluntary terminate my agreement. I was over 50% of the way through my agreement. I reached the half way point in August so have made about 3 payments more than I needed to. I enquired about VT in July and they emailed me to say "The amount owed under voluntary termination including any arrears and charges is £211.02". And by the time I terminated I had made an additional 4 payments of £274.
The car was collected on Tuesday. Today I received an email from moneybarn to say that the car would be inspected in the near future & my calculated pre-final balance is £1,096.04.
How on earth do I still owe over £1000 if I made MORE payments than the required 50% ? If I owed £211.02 in July and continued to make payments of £274 for an additional 4 months I fail to understand how the balance can be £1096.04.
Any ideas appreciated because I'm stressing about it.
thank you
I recently gave moneybarn notice that I wanted to voluntary terminate my agreement. I was over 50% of the way through my agreement. I reached the half way point in August so have made about 3 payments more than I needed to. I enquired about VT in July and they emailed me to say "The amount owed under voluntary termination including any arrears and charges is £211.02". And by the time I terminated I had made an additional 4 payments of £274.
The car was collected on Tuesday. Today I received an email from moneybarn to say that the car would be inspected in the near future & my calculated pre-final balance is £1,096.04.
How on earth do I still owe over £1000 if I made MORE payments than the required 50% ? If I owed £211.02 in July and continued to make payments of £274 for an additional 4 months I fail to understand how the balance can be £1096.04.
Any ideas appreciated because I'm stressing about it.
thank you
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