Thread: Help!!

Hi folks

i have recently requested my Bank charges from the BOI.

I had also a loan with one of its subsidary companys.

The subsidary company has been in touch with me saying that I have not paid my last 2 months installements.

I was of the opinion that I no longer owed them any money as I had paid the lump sum and hadnt heard from them.

They said that I had paid a lump sum off the loan and therefore they had used the amount I had paid off the loan to cover payments in advance.

They sent me out a statement of my loan account and the last time I had made a payment was in 2006 and monthly payments had been taken out after the lump sum had been paid.(The lump sum wouldnt have covered this period of time 2006 to 2008!!

I have just received a letter of default notice.

What do I do?

Many thanks

Doc

Hi

I made a payment to try and bring the loan amount down. There hadn't been any issue with the loan as I was paying it off as normal.

My "gripe" is that the last payment made to my loan was in and around November 2006 and why wait until June 2008 to ask why I haven't been paying the loan, I had assumed that I no longer owed any monies on the loan as they hadn't been in touch.

They are saying that they had assumed that the lump sum I had paid was a payment to cover the loan in advance.

I never instructed them that that was the case, I feel that they have cocked up and it has only come about since asking for all data held about me to claim back my bank charges.

I feel agrieved that they are now putting pressure on me for their mistake.

I just wanted to know what I can do, as I assumed the loan was finished and I haven't budgeted for this money now?

Does anyone have a form of words ?

Many thanks in advance

Doc