I would be grateful for opinions on the following situation. In August 2006 I took out a personal loan with HFC in the amount of 13200. I have made all the monthly payments of 323.23 each month. At this stage I have made 29 payments in total. I wanted to repay the loan last month and was advised that 12,400 was required in order to close my account. I would like to stress that I am not trying to avoid payment on this loan.
I called the Financial Regulator and was informed that this method was valid for use in this country and that there were no limitations for its use. In the UK as well as other EU countries this rule has either been abolished or limitations applied to its use. Even in the States restrictions have been applied in its use .
I have no faith in the financial regulation in this country and would like other peoples opinion on whether i should take my concerns to the EU because in comparison to other citizens in the EU we are not been afforded the same consumer protection on this issue as they have in other member states and i also believe that this institution is behaving in an umcompetitive manner.
Would appreciate opinions on this!
I called the Financial Regulator and was informed that this method was valid for use in this country and that there were no limitations for its use. In the UK as well as other EU countries this rule has either been abolished or limitations applied to its use. Even in the States restrictions have been applied in its use .
I have no faith in the financial regulation in this country and would like other peoples opinion on whether i should take my concerns to the EU because in comparison to other citizens in the EU we are not been afforded the same consumer protection on this issue as they have in other member states and i also believe that this institution is behaving in an umcompetitive manner.
Would appreciate opinions on this!