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Hello Hoping someone could shed some light on this for me!
I took a secured loan out with GE Money in 2007, (never missed a payment or defaulted on this account) in 2015 they transferred my account to a company called Prestige Finance, (at the time I was a bit miffed off and contacted both GE Money and Prestige and both parties confirmed that there would be no changes to anything and my loan would finish as expected and the original GE Money contract would be upheld.
I am now 1 payment (comes out on 3rd April) away from what i thought would be the end of my loan, I have received a letter stating that prestige fiances have sent my account information to their solicitors and i will receive a letter from them confirming my outstanding charges that need to be settled on 23rd April.
I contacted prestige finance who said that they couldn't tell me what the outstanding balance related to and why it was being charged, but the lady mentioned a redemption payment? She said I had to call back in the moring.
I again contacted prestige finance this morning they have said that the charges that I have relate to two £25 late payment fees from 2007 and interest from none payment which is now totaling £600 and solicitors will be informing me how i can pay this.
I have never had any notice of any late payments all have been taken by direct debit and I have never missed a payment?
Does anyone have any advice as i do not want to be paying for something that I no paperwork to say I have ever owed! but at the same time I cant understand why they have never informed me of this. I have even rang in on two occasions to find out when the last payment is due and no body has ever made me aware of this!
Please Help
I took a secured loan out with GE Money in 2007, (never missed a payment or defaulted on this account) in 2015 they transferred my account to a company called Prestige Finance, (at the time I was a bit miffed off and contacted both GE Money and Prestige and both parties confirmed that there would be no changes to anything and my loan would finish as expected and the original GE Money contract would be upheld.
I am now 1 payment (comes out on 3rd April) away from what i thought would be the end of my loan, I have received a letter stating that prestige fiances have sent my account information to their solicitors and i will receive a letter from them confirming my outstanding charges that need to be settled on 23rd April.
I contacted prestige finance who said that they couldn't tell me what the outstanding balance related to and why it was being charged, but the lady mentioned a redemption payment? She said I had to call back in the moring.
I again contacted prestige finance this morning they have said that the charges that I have relate to two £25 late payment fees from 2007 and interest from none payment which is now totaling £600 and solicitors will be informing me how i can pay this.
I have never had any notice of any late payments all have been taken by direct debit and I have never missed a payment?
Does anyone have any advice as i do not want to be paying for something that I no paperwork to say I have ever owed! but at the same time I cant understand why they have never informed me of this. I have even rang in on two occasions to find out when the last payment is due and no body has ever made me aware of this!
Please Help
