Thread: it started with the Woolwich!

Hi all

I am in need of some advice.... it may be a long shot after all.

Here's the story..
We took out a loan from the Woolwich for £12.000 in 2001, we took out protection on that loan against redundancy/sickness etc.

My husband was made redundant, we had already paid off over half of the loan, leaving just over £5.000 to pay, but the Woolwich would not honour the protection because we had just missed a payment.

Anyway to cut a long story short.. the debt was sold on to Heatons who took it to court for the total sum of £13.500, £1,500 more than we had originally borrowed and had added a whopping £8,500 in interest charges.

We didn't contest this at the time because my husband was suffering with depression, so we let it go to court. We pay them monthly £20, after a huge fight to get it reduced from £300 a month.

Does anyone know if it is at all possible to get these interest charges removed, as personally i think them excessive! and it is prolonging our debt. without the interest charges we would only owe £2,800 and could get that cleared.

Thanks in advance for any help.

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Originally Posted by macushlamoon

Hi all

I am in need of some advice.... it may be a long shot after all.

Here's the story..
We took out a loan from the Woolwich for £12.000 in 2001, we took out protection on that loan against redundancy/sickness etc.

My husband was made redundant, we had already paid off over half of the loan, leaving just over £5.000 to pay, but the Woolwich would not honour the protection because we had just missed a payment.

Anyway to cut a long story short.. the debt was sold on to Heatons who took it to court for the total sum of £13.500, £1,500 more than we had originally borrowed and had added a whopping £8,500 in interest charges.

We didn't contest this at the time because my husband was suffering with depression, so we let it go to court. We pay them monthly £20, after a huge fight to get it reduced from £300 a month.

Does anyone know if it is at all possible to get these interest charges removed, as personally i think them excessive! and it is prolonging our debt. without the interest charges we would only owe £2,800 and could get that cleared.

Thanks in advance for any help.

I would recomend making a CCA Request as well as a SAR you need to find out what charges have been applied to the account.

Paul

many thanks

i will definately look into that...

and yes, we have medical proof that my husband was under the GP at the time for depression, and was on medication.