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Nicola-mod
Nicola-mod, Moderator
Category: Law
Satisfied Customers: 11
Experience:  Moderator
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my wife and I had 15000..00 personal lone in 2000 I lost my

Customer Question

my wife and I had 15000..00 personal lone in 2000 I lost my job in 2001 because of bad health we were taken to court because we could not make the full payments and ordered to pay 100 pound a month we have done this by standing order never missed a payment I worked out we owed about 450 pound but find the finance company are asking for over 24000 00 pound because they have added interest witch was frozen by the judge why
Submitted: 3 years ago.
Category: Law
Expert:  Max Lowry replied 3 years ago.

Max Lowry :

Hi, welcome to Just Answer. I will help you with your question.

Max Lowry :

They are only entitled to the sum the Court has ordered, they cannot ask for more obviously.

Max Lowry :

However, interest is usually added to a judgment debt at the rate of 8% per annum, although this will not be the case if the court has ordered that interest is not payable. That is rare, and statutory interest at 8% usually applies on the outstanding balance of any judgment debt.

Max Lowry :

Does this make sense - do you know whether the interest they claim is this post judgment debt 8% amount?

JACUSTOMER-2d1oifv0- :

the judgement says fixed does this mean they cant add interest

Max Lowry :

No, it doesn't mean that. They can still add interest. Fixed costs just means legal costs of the lawyers involved in the case.

JACUSTOMER-2d1oifv0- :

can you tell me that this is a one off payment of 33 pound

Max Lowry :

Yes, it is, unless you choose to subscribe you do not pay monthly payments.

JACUSTOMER-2d1oifv0- :

our payments have always been by standing order yet on there statements it says cheque payment received up till 2009 when it says standing order our arrangement was 100 pound on the first of every month and that happened but there dates for receiving payment was all over the place why

Max Lowry :

Don't know why - their records may not be very accurate.

Max Lowry :

You may have to prepare your own schedue of payments and compare them to make sure their interest calculations etc. are correct.

Max Lowry :

I see yoyu've rated the service as poor, why please?

JACUSTOMER-2d1oifv0- :

because you have solved nothing

Max Lowry :

What did you want me to solve for you?

Max Lowry :

I can only tell you why something is happening - I can't check their payment schedule - I dont have access to that information.

Max Lowry :

What would you like me to do to help further? If I can, I will?

Max Lowry :

I'm sorry you simply appear not to like the answer and there is nothing I can do about that.

Expert:  Nicola-mod replied 3 years ago.
Hello,

Unfortunately it seems like you have been given some bad news in your answer. Please remember the Professional is trying to give you the most accurate possible legal answer for your question.

If you still need help with your question, please feel free to reply to the Expert on this question page. You may ask as many follow-up questions on the same question page as you need until you are satisfied.

When you are satisfied, please don't forget to rate your answer positively - this compensates the Expert for their time and knowledge.

Thank you,
Nicola

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