Hi hoping someone can help.

Just recently found out my mum borrowed £10k in 2005 she has paid to date £36k and still owes £36k.

They increased loan on two occasions to cover arrears.

We made final offer of £20k to them but they refused countered at £34k.

In my letter I made reference to her mental health not being fit to sign for loan and also they must have know not able to afford.

They have passed to complaints.

Unfortunately during this time my mum diagnosed cancer and has only weeks to live.

I desperately wanted to sort before she dies but unless I can find £34k not going to happen.

When my mum dies will the freeze loan until house sells??

I've asked for the actuarial statement.

How do I claim charges back can I do this even after she dies???

I'm heartbroken about all this can't believe this company is allowed to get away with what they do.

Any help greatly appreciated.

one thing you need to say is what company it is also you should send a sar's (Statuary access request ' that will give you all the info they hold dont forget to include £10 for it . also you did not say what kind of loan is this

Name names please.

What company is this?

A SAR (Subject access request) will get all of the info needed to reclaim any fees/charges etc.

However, this isn't a priority ATM, your Mum is!

Unless this is a secured loan? Then this can and will wait.

Sorry it's with Swift Advances and it is a secured loan.

I will ask for SAR.

My main concern is mounting charges even after she passes.

I know it's morbid but it's stressful enough without worrying when my dad died mortgage company just froze account until house sold. Worried Swift won't do same

Well here's the 'Lending Code' which they have signed up to, this is the current one, so will have changed since 2005.

Were they aware of your mums mental health issues at all?

Telling them now of financial hardship and your mums current diagnosis (in writing) will/should put a stop to any of their extortionate charges being levied on the account.

I'm intrigued to find out just how a 10k loan from 2005, has shot up to over 60k!!

Get your local MP involved too.

Once you have sent them the SAR (£10) they have 40 days in which to send you everything they have regarding this account/agreement, but you may have to get your mums permission to deal with her finances on her behalf for them tosend you the documents.

Once you have received the SAR, then you can trawl through it all and tot up their fees/charges and go about claiming them back under the hardship rules.

Does your mum have much equity?

As cold & heartless as it is, but when she passes, would her estate cover her debt?

Such a cruel world.

Thanks we have POA so dealing with them direct now.

I've not told them mums diagnosis as thought they would sit and wait for money by the time mortgage and them are paid will be nothing left

we don't want or need any money but it pains me they will have got a total of £72k on an original £10k loan.

How long does it take to claim charges back?

Is there sample letter I can write to them.

Thanks

you need all the statements ...

Send them a SAR, they have 40 days in which to send you everything they hold.

http://www.consumeractiongroup.co.uk/forum/showthread.php?387306-Full-Subject-Access-Request-**Updated-January-2015**

For 72k to be owing on a 10k debt, there is definitely something very very wrong!

I know they have no morals, but seriously!

They add an amount at the beginning of the loan on top of the original amount borrowed. The agreement is a sheep in wolfs clothing. On £10k it's poss they added £20k from day one so you're paying £30k plus interest accruing on the debt.They don't tell you this type of loan is not suitable for short term borrowing, meaning the redemption figure is calculated using the whole term quoted on the agreement say in this case 10 or 15 years.

36k paid so far on a 10k loan??

Gawd blimey!!

That's absolutely ridiculous...

I do feel for your mum & yourself & I do hope you get this sorted out asap, so that you both have peace of mind & can enjoy the time you have left together without all this stress...

Good luck indeed!

Right we found in the info they sent over £4K of charges plus £7k of interest on the charges !! How do I claim this back???

use the cisheet here

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

put every charge in on its own row.

enter their int rate [apr] in cell d15

the sheet will work the interest charged on them out for you

no need to enter that figure