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.
Hello everyone - firstly i need to thank you all as i have sucessfully claimed against my bank (RBS) and claimed back several £200.00 in charges, thanks to your templates, which was great (and also about 250.00 for my partner). My new problem is this - in March, following a call from my bank about an existing loan i took out another one to pay off approx £3k outstanding and to give me some extra cash (some for decorating, some for my missus, some for a card or two each we had and some for our forthcoming baby in April) Not really a big deal. Anyway, i had a call from the bank yesterday advising me that i was paying two loads whaich was unusual, and that by "joining" them i could potentially save. After i explained the situation they looked into it and realised today that due to their error they infact did not pay off the existing loan i had or cancel the payments and since march i had been paying both. Now, i do admit that i do not religiously check my accounts (especially since the arrival of our baby in April) who has the time??? What i really want to know is that surely as a consumer and customer of the bank it is safe to confidently assume that if they say this is going to happen it should have, and if it didn't for some reason either a) i should have been notified or b) they should have sorted it out for me. I want to know if i can ask for the payments from the original loan (that were taken without my knowledge since the other loan) to be returned, and what my position is regarding the outstanding amount. Obviously by now as there were several cheques going out and paying off the other things the money is no longer their for this purpose. Please can someone help me who knows about this, or has had a similar problem. I have an appointment tomorrow and would like to be prepared, but i can delay them to look into this further. I am not happy with what they have done. PLEASE HELP!
You don't say what the value of the new loan is, but let's assume that it was £6000. The bank should have used the new loan to clear the old loan balance of £3000, thus leaving you with £3000. Are you saying that you have spent all the new loan i.e. £6000, leaving yourself with the old loan balance of £3000 still outstanding?
Hi Elsinore, thanks for your reply. The second loan was for 15k to consolodate a few things of mine and some for my partner, and a few odd purchases / a little spare. So there was so much activity in the account with payments coming in / going out bit by bit over the space of a few weeks, i didn't keep track of it all as i should have done. I admit i should have kept an eye on things a little closer, but to be honest i felt i could be confident to expect the bank to do their part and i didn't think i had to check up on them! So in answer to your question yes, it was spent. So yes, the balance of the old loan is still outstanding, although i have been paying BOTH since April (but again, didn't notice) Who has time to check all of these things?? (no-one with a new baby, that's for sure!) I really wanted to know what me position was in terms of getting back what they have taken without my authority (6 payments now) and legally if i can tell them that the balance is their responsibility as they should have paid it??
Hmmm! Mistakes on both sides. Yours is understandable, even excusable (but I would say that, woudn't I?)
The bank have no excuse. Cynical old me says that, when they called you to suggest consolidating the two loans, they knew they had messed up. When they realised that you had spotted their error, they had to admit it. When the bank called you back to confirm their mistake, how did that conversation conclude?
I doubt that the bank will agree to writing off £3K, but that shouldn't stop you trying. Fact is, you owe them £18K and they will expect you to pay it. I think that your approach should be 'Right, you messed up the new loan arrangement, what are you going to do about it?' Don't admit any responsibility for the situation, unless and until you have to. You could demand the return of at least the interest element on those 6 payments. Then you should be insisting on a new consolidated loan at a very advantageous rate.
I hope others will suggest some remedies for you marc, because it's a tricky one and others might have better ideas.
Bank Issues with a loan consolidation
) and claimed back several £200.00 in charges, thanks to your templates, which was great (and also about 250.00 for my partner). My new problem is this - in March, following a call from my bank about an existing loan i took out another one to pay off approx £3k outstanding and to give me some extra cash (some for decorating, some for my missus, some for a card or two each we had and some for our forthcoming baby in April) Not really a big deal. Anyway, i had a call from the bank yesterday advising me that i was paying two loads whaich was unusual, and that by "joining" them i could potentially save. After i explained the situation they looked into it and realised today that due to their error they infact did not pay off the existing loan i had or cancel the payments and since march i had been paying both. Now, i do admit that i do not religiously check my accounts (especially since the arrival of our baby in April) who has the time??? What i really want to know is that surely as a consumer and customer of the bank it is safe to confidently assume that if they say this is going to happen it should have, and if it didn't for some reason either a) i should have been notified or b) they should have sorted it out for me. I want to know if i can ask for the payments from the original loan (that were taken without my knowledge since the other loan) to be returned, and what my position is regarding the outstanding amount. Obviously by now as there were several cheques going out and paying off the other things the money is no longer their for this purpose. Please can someone help me who knows about this, or has had a similar problem. I have an appointment tomorrow and would like to be prepared, but i can delay them to look into this further. I am not happy with what they have done. PLEASE HELP!
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Re: Bank Issues with a loan consolidation
