Finance Questions

Archive for October, 2007

Question: how much. would i get back from miss sold ppi, from lloyds tsb, and welcome finance.?

My loan from welcome finance was for £2500. And my credit card, is a £1000

Answer: It is possible to legally challenge the loan agreements and get the whole amounts cancelled, not just the ppi. Try www.bdebtfree.info for help.

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Question: Welcome Car Finance help? please?

I have a car on finance with them..hp and the last payment is due on monday!!
I have read small print and it says if I wish to purchase the car an option fee of £100 is due together with final payment...as I pay by direct debit will they take it out of the bank or do i have to pay it seperately?
If i have to pay seperately i won't be able to make it on time (monday) and am a bit worried they might try and take the car back.

Answer: When you enter into such a contract what you are doing in legal terms is agreeing to hire the goods with the intention of eventually owning them outright. The hirer pays a deposit, a number of regular instalments to cover the purchase price and an interest charge on that sum. The final payment will include a nominal amount by which the hirer takes up an option to buy, that will come out on Monday.

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