Ge money secured loan settlement figure

[kevgordon]

Can anyone shed some light on this for me please because im failing to understand this loan agreement. I borrowed 20900 over 300 months at 13.34% apr secured on my house with ge money . the repayments on the loan are 244.36 per month and ive made 85 payments totaling £20770.60. Ive called today to be told my settlement figure is £19700 plus fees taking the total to £20400.

Surely this cannot be correct. When ive called nobody wants to discuss the loan in any detail with me and after first being told that it was just a normal secured loan like any mortgage im now being told the interest is front loaded .

Can anyone keep me right on this one

[Kafka]

Re: Ge money secured loan settlement figure

Send a SAR to them to obtain all the details and statements because you can't really take issue until you can see what's going on. It may be that they have added on lots of bogus charges like Welcome does.

[kevgordon]

Re: Ge money secured loan settlement figure

There is no late payments on the account or charges

[kevgordon]

Re: Ge money secured loan settlement figure

whats a sar?

[Guest]

Re: Ge money secured loan settlement figure

hmm I get the APR as 14.4 % it does not help with the settlement though

[Guest]

Re: Ge money secured loan settlement figure

http://www.financecalcs.co.uk/Calcs/Settlement.php