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I recently paid off a logbook loan in full, including all additional charges. However, I'm concerned about the fairness of these charges, particularly given my financial difficulties throughout the loan term.
Here's a brief overview of my situation:
I believe these charges may be excessive and disproportionate to my circumstances. I'm interested in exploring my options for a formal complaint to challenge these fees and potentially seek a refund.
Does anyone know if there's a specific template or process for making a formal complaint about logbook loan charges, particularly regarding affordability assessments and excessive fees?
Any advice or guidance would be greatly appreciated.
Here's a brief overview of my situation:
- Repeated Struggles: I consistently struggled to meet payments, leading to multiple default notices, each charged at £12.
- Aggressive Collection Tactics: When I was unable to make a payment, a representative from the lender visited my home. The car wasn't there at the time, and the representative left a voicemail implying that the police would be involved if I didn't contact them immediately.
- Denied Payment Plans: Despite my attempts to negotiate a more manageable payment plan, my requests were repeatedly denied.
- Excessive Charges: In addition to the default notice fees, I was charged a significant car collection fee of £360 even though they didnt collect the car
I believe these charges may be excessive and disproportionate to my circumstances. I'm interested in exploring my options for a formal complaint to challenge these fees and potentially seek a refund.
Does anyone know if there's a specific template or process for making a formal complaint about logbook loan charges, particularly regarding affordability assessments and excessive fees?
Any advice or guidance would be greatly appreciated.
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