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Hello everyone. I havent been on here for quite some time and a lot has happened in that time. The reason for my visit today is as below:-
I have an ongoing loan with NatWest and I am thinking about settling it. I have contacted them to get a settlement figure which is £4,563.69, which includes a settlement charge of £115.44!!!!.....when I asked them what charge is being applied for, I was told its the interest that is calculated over 2 months. I asked but why 2 months, why not 1 month. I was told that thats just what is in the terms and conditions. I then asked, instead of paying the loan off in full, can I pay a lump sum of it off.....and guess what..............if I were to day that then I would be charged a 'partial payment fee'!!!!........so which ever I decide to do, whether it be pay the loan off in full or a lump sum of it, im going to be charged!!!.....how on earth can this be fair, and how is it helping me to control my finances??..........if i continue to pay it the maturity date is 3rd July 2017, and as I dont work I want to get rid of this debt while I have the chance, as this is the biggest drain on my finances.
My question is.......do they HAVE to apply this charge for settling the debt? or is it worth asking them to waiver it. After all they are refunding charges etc every day to help people, so could they not waiver this charge to help me at such a difficult time in my life.
Any help would be very very grateful
I have an ongoing loan with NatWest and I am thinking about settling it. I have contacted them to get a settlement figure which is £4,563.69, which includes a settlement charge of £115.44!!!!.....when I asked them what charge is being applied for, I was told its the interest that is calculated over 2 months. I asked but why 2 months, why not 1 month. I was told that thats just what is in the terms and conditions. I then asked, instead of paying the loan off in full, can I pay a lump sum of it off.....and guess what..............if I were to day that then I would be charged a 'partial payment fee'!!!!........so which ever I decide to do, whether it be pay the loan off in full or a lump sum of it, im going to be charged!!!.....how on earth can this be fair, and how is it helping me to control my finances??..........if i continue to pay it the maturity date is 3rd July 2017, and as I dont work I want to get rid of this debt while I have the chance, as this is the biggest drain on my finances.
My question is.......do they HAVE to apply this charge for settling the debt? or is it worth asking them to waiver it. After all they are refunding charges etc every day to help people, so could they not waiver this charge to help me at such a difficult time in my life.
Any help would be very very grateful
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