Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I obtained a loan with the Bank of Scotland to cover a number of debts. Unbeknown to me the bank front loaded my loan and thanks to advice from this site I have resolved this matter and the bank have paid me £50.00 for the lack of replies to my enquiries.
I now wish to transfer the loan to a lender I used previously and have asked the Bank of Scotland for a settlement figure and a Breakdown of my capital and interest payments. My previous lender would forward quarterly statements including monthly payments broken down into repayment, interest and remaining debt.
I.e. it may state payment £100, capital £80, interest £20, remaining £3000.
followed by payment £100, capital £82, interest £18, remaining £2900, and so on.
I have asked the Bank of Scotland to provide me with such a breakdown for my payments but they have replied "we cannot provide the details on a month to month basis due to the volume of information involved" despite me asking on two occassions by letter.
Can I demand that the bank provide me with this information or can they refuse? The settlement figure appears to show that I have paid little from the capital of my loan and paid a huge portion of the interest. I know that the initial payments do cover the larger portion of interest that final payments but despite paying £134 a month my debt for two years on a five year loan has decreased from £6500 to just under £5300.
Will move your thread Dave hopefully someone can answer-but I would say yes you are entitled to be given what you are asking for.
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to cover a number of debts. Unbeknown to me the bank front loaded my loan and thanks to advice from this site I have resolved this matter and the bank have paid me £50.00 for the lack of replies to my enquiries.
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