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.
Just working out how i can squeeze every possible penny back out of RBS. Most of the charges on our account come from two periods when things went abit wobbly, once at the end of last year(which lead to the account defaulting) and once in 2002. In 2002 we had a £800 overdraft limit and ended up £1670 overdrawn of which £700 was charges, this was resolved by us talking a loan of £1700 off them to clear the balance, the loan was the only option they gave us to resolve the situation and ended up costing us £3509 over 5 years. My question is would we be entitled to claim back the interest charged on £700(the amount of charges) of the loan?
my partner thinks that we would maybe to be able to claim all of the interest back because if it wasn't for the charges we would not have needed the loan, but i think that this would be pushing things too far.
I'm sure more expert opinions will come at some point, by I did raise this question myself recently and I believe that the answer is yes.....If you can show that the £700 was solely charges and then calculate the interest just on this amount you should be entitled to claim that back along with the charges themselves (which you are probably already doing). Remember - the interest is money they have made on the back of unlawful charges therefore, they should not be entitled to it.
If you search my threads there is one I opened asking about this (I was in a similar situation to yourself) and a couple of the mods have responded. That should give you some idea.....
Good luck!
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Thanks for that, yeah that was my train of thought exactly. if they hadn't charged me £700 i wouldn't have had to borrow it and therefore pay interest on it.
Should be plenty of other cases around you can use to read up on. Search on "consolidation" up top, would imagine there are loads of examples you can use...
If my post has been useful, tip my scales and let me know
Loan Interest
. Most of the charges on our account come from two periods when things went abit wobbly, once at the end of last year(which lead to the account defaulting) and once in 2002. In 2002 we had a £800 overdraft
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