# HFC Bank



## Ingenuus (24 Sep 2007)

Hello

I am just wondering if anyone has had dealings with HFC Bank.

I originally took out a hp agreement for a laptop for college with them and then when i took up employment they offered me a loan, i was stuck for money so got a loan of 13,700 off them with payment protection....the total amount to pay back is now 23,854 based on an apr of 16.2%. so after a year of paying 397.00 a month i still have 19k odd to pay off...

I always found the bank a bit hard to deal with i.e. they used to have an office near where i work but now the correspondence address is england they are hard to get in touch with.

Now i will not give excuses etc but i was never actually told the rate and total to paid back just the monthly amount (sure i never checked it...yes i was crosseyed just to get the well needed cash)

Anyway do you think if i go to my own bank (UB) and explain to them the rate etc they might give me a better offer?

Thanks


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## demoivre (24 Sep 2007)

> I originally took out a hp agreement for a laptop for college with them and then when i took up employment they offered me a loan, i was stuck for money so got a loan of 13,700 off them with payment protection....the total amount to pay back is now 23,854 based on an apr of 16.2%. so after a year of paying 397.00 a month i still have 19k odd to pay off...


Are you sure these numbers are right? Is the 19k odd a settlement figure you got from HFC?



> I always found the bank a bit hard to deal with i.e. they used to have an office near where i work but now the correspondence address is england they are hard to get in touch with.


They have a correspondence address in Ireland too. See .



> Anyway do you think if i go to my own bank (UB) and explain to them the rate etc they might give me a better offer?


There's definitely cheaper money out there. 13.7 K over 5 years without payment protection would be about eur280 per month.


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## Thrifty1 (24 Sep 2007)

The office in Mount street is closed and their customer service dept is in UK now. The link posted is for Household bank, they DO NOT deal with HP agreements, its for personal loans only so that link will probably be of no use.

You wont be able to get out of the agreement with HFC but you can apply to your bank for a personal loan for the €19k and pay HFC off and pay back UB at the lower rate.

Contact HFC and get an exact settlement amout and then go to your own bank.


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## demoivre (25 Sep 2007)

Thrifty1 said:


> The office in Mount street is closed and their customer service dept is in UK now. *The link posted is for Household bank*, they DO NOT deal with HP agreements, its for personal loans only so that link will probably be of no use.



 The link that I posted directs you to a website that clearly relates to both  Household bank (for personal loans) and HFC bank (Retail finance) - click on the Retail Finance section on the left hand side and there is a contact number provided for HFC.


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## Thrifty1 (25 Sep 2007)

demoivre said:


> The link that I posted directs you to a website that clearly relates to both Household bank (for personal loans) and HFC bank (Retail finance) - click on the Retail Finance section on the left hand side and there is a contact number provided for HFC.


 

The contact no for the retail section is for the office on Mount st which is closed.


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## demoivre (25 Sep 2007)

Thrifty1 said:


> The contact no for the retail section is for the office on Mount st which is closed.



And when you ring that contact number you are told it has changed to 01 6569311 which gets you through directly to HFC.


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## oosoom (26 Sep 2007)

Hello,

I have the a similar problem to yourself with this bank. Again in a similar situation wanted money to do postgraduate studies so took the loan with them. I was aware of the high interest rate but I was advised that there were no penalities for early settlement on the aggreement. So for the past year based on my calculations I had enough saved only to be informed of different crazy figure by them. 

It was in  late June of 06 that they apprached me about taking finance with them. They sent the form with details etc plus a standing order for me to sign to make the repayments on the 20th of each month. I signed and submitted the form 4 weeks after the first standing order was due to be paid . After that the money left my account on the 26th of each month. Every month I got a letter to state a late fee of 19 euro was applied to my account when I queried this I was informed that these letters were computer generated and that this fee was not applied. When I spoke about settlement today with them they again  mentioned late fees applied to the account. Got no joy speaking to them so have done something that I have never done before, I have complained to the the Financial Ombudsman about they general way that the do business.


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