The monthly repayment amount was recalculated following certain events, including a change in the interest rate for your loan. Because the monthly repayment was calculated based on the outstanding balance on your account, if there was an arrears balance on the date of recalculation, your repayment would have increased to include the repayment of those arrears over the remaining life of your loan. This practice did not result in you being overcharged interest of fees, however, it did result in higher repayment than if we had not calculated your monthly repayments in this way...............
This is what it says. Not really sure what it all means to be honest. But no arrears showing on the letter, just total debt outstanding
I taught there where only 30 people with the intrest rate over charge? Seems a lot more .
I only got my letter of recalculation of arrears this week eventhough it was dated Feb and only after a request. It was just giving a generic example of Mary's hypothetical situatation and ended in saying it made no difference to the amount owed? It did however state that revised statements would issue when their systems were updated and I have now requested this which should surely show exactly where we were at when Receiver was appointed?
Did anyone get one of the revised statements as I seem to be way behind in getting my info from them?
I need the revised statement to determine if I was in fact in arrears at the date the receiver was appointed ? Am I correct in this and again has anyone got the revised statement?
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