Announcement

Collapse
No announcement yet.

Numbers help please!!

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
  • #1

    Numbers help please!!

    Can anyone decipher the consumer credit early settlement regulations figures regarding a loan i have??

    [url=http://www.opsi.gov.uk/si/si2004/20041483.htm]The Consumer Credit (Early Settlement) Regulations 2004[/url]

    theres the formular!!

    I borrowed £400, on 10th april, was charged £328 for credit, my balance is now £588 and i want to clear it this week. APR is... 272.2% :puke:The term was due to last 52 weeks at £14

    I had 3 bald tyres and was skint so i had no choice!!! Can anyone tell me how much i should be looking to pay back?

    Once this is paid im back in the market for a new heli, so save me as much as possible!!!

    Please dont suggest i wait for debt recovery to collect it and have them take me to court, i work for 6 debt recovery firms and im liable to be sacked if that happens!!

    Thanks, Tom
    Tags: None
  • #2
    You work for 6 debt recovery firms yet you took out a loan @ 272.2 %???

    Comment

    • #3
      [quote=inferno;482629]Can anyone decipher the consumer credit early settlement regulations figures regarding a loan i have??

      [URL="http://www.opsi.gov.uk/si/si2004/20041483.htm"]The Consumer Credit (Early Settlement) Regulations 2004[/URL]

      theres the formular!!

      I borrowed £400, on 10th april, was charged £328 for credit, my balance is now £588 and i want to clear it this week. APR is... 272.2% :puke:The term was due to last 52 weeks at £14

      I had 3 bald tyres and was skint so i had no choice!!! Can anyone tell me how much i should be looking to pay back?

      Once this is paid im back in the market for a new heli, so save me as much as possible!!!

      Please dont suggest i wait for debt recovery to collect it and have them take me to court, i work for 6 debt recovery firms and im liable to be sacked if that happens!!

      Thanks, Tom[/quote]

      Do you mean 27.2 % interest as 272.2 seems a bit on the high side?
      Troll buster
      sigpic

      Comment

      • #4
        Just don;t got to wonga.com - their APR is 2689% !!!!
        Martin

        Most of the Aligns, fair few Spektrum bits, bunch of Align & HiTec servos, OBE, VD & Bar.

        Comment

        • #5
          [quote=Mart61;482732]Just don;t got to wonga.com - their APR is 2689% !!!![/quote]

          Thought you were joking there martin!so i just had a look at there site! bit steep that!:ack2:

          Comment

          • #6
            I think you need an accountant to work that out .have you asked for a final payment from the loan company they may just charge you a months intrest.
            Trex 550e dfc :-)
            Sab Goblin 500 Sport/dx8 and 9
            t-rex 450s x2 /Raptor 50
            blade 130x 3off/mcpx x2 180cfx times 2
            multiplex acromaster 3d (great fun) acrowot,sonic wing,Graupner junior 2mtr glider,beast biplane .
            kyosho spree small plank
            bogey combat plank x2 woop
            http://www.cuffleymfc.co.uk



            brian OB2 proud owner of 3X E.G.S+ 1boggy special star

            Comment

            • #7
              [quote=Supercaptaincrash;482700]You work for 6 debt recovery firms yet you took out a loan @ 272.2 %???[/quote]

              Yes for some silly crazy reason, despite having good active credit, nobody would increase finance or lend enough to cover this years MOT! Provident was the quickest way to keep on the road. They have given me a figure now of about £350, making my total amount paid back on £400 is £496 so they have charged me 3 months interest altogether. Im just trying to work out if thats normal to charge an extra month when the interest is paid weekly...

              Fortunatly ive just had good news regarding my self assesment so im quids in and able to clear it!

              Comment

              • #8
                well done mate! get the debt paid off and start saving for heli gear!lol

                Comment

                • #9
                  No saving needed... but im still undecided on weather to go for the trex500 3g or a 600nitro this time... :S

                  Comment

                  • #10
                    And if you need any other help regarding debts i work for a debt management company lol
                    Proud member of the Mk Heli Club


                    MK HELI CLUB WEB SITE

                    Marriage is like playing poker. In the beginning, all you need is two hearts and a diamond. Then at the end all you want is a club and a spade.sigpic

                    Comment

                    • #11
                      [quote=Mart61;482732]Just don;t got to wonga.com - their APR is 2689% !!!![/quote]

                      Jeeez, I just looked at their website too. Surely no one is that desperate for £400 that they'd pay £130 to borrow it for a month, thats insane!

                      Especialy when you see what the Nationwide give me in interest on my savings!
                      Guy

                      Logo 600 SX VBar - Velocity N2 FBL BeastX - TRex 600 FBL BeastX - TRex 450 Pro - Gaui 200 - Blade 130X

                      And an E.G.S!

                      Comment

                      • #12
                        debt management

                        best place anyware for debt management C.A.G.
                        consumer action group its free!!!.

                        Comment

                        • #13
                          [quote=themagician;483472]best place anyware for debt management C.A.G.
                          consumer action group its free!!!.[/quote]

                          There a good bunch, im registered, but more to keep an eye on current and the ever changing regulations that i need to stick to at work!

                          Comment

                          Previous template Next
                          Working...
                          X