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Daniel
Daniel, Solicitor
Category: Australia Law
Satisfied Customers: 5055
Experience:  Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
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I currently have a 5 yr car loan with Secure Funding Pty

Customer Question

I currently have a 5 yr car loan with Secure Funding Pty Ltd. I recently used a loan calculator with Moneysmart as I wish to increase payments and wanted to see the effect.Upon doing so I noticed that the calculation for my current payment woked out to be less than I currently am paying. I checked this with another loan calculator with Mozo.com.au and found the same thing. I queried this with Secure Funding and they claim there is nothing wrong with their calculations. I have made 42 payments so far and this means that I have paid $637.98 too much interest or as much as $837.70+ according to Mozo's loan calculator. What can I do can you please advise me ?
Submitted: 4 months ago.
Category: Australia Law
Expert:  Daniel replied 4 months ago.

Hello
Have you flagged this further with Secure Funding? As it seems quite clear from what you have suggested?
it is best to negotiate with them and see what arrangements can be made.
If they do not assist, then file a complaint to the Ombudsman:
https://www.fos.org.au/

The Ombudsman can make a judgement call as to what has occurred and remedy the situation without payment.

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Expert:  Daniel replied 4 months ago.

Hello
I note I have not received a response?
I wish to help you in this situation.

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