new to this PLEASE HELP

[jdadda]

Hi peeps

I have read the FAQ's but no help so far. Having plucked up the courage to finally try and do something about these absurd charges, I have got as far as receiving all my backdated statements since opening this account (3 years ago). Also I need to know if the bank can take 2 months loan payments in one go (putting me way over my overdraft limit)without notifying me. This has resulted in spiraling charges which I don't know how to stop. I have opened 2 other accounts now with different banks for my income and have left only the loan payments going into the rbs. I have complained but was told "It's our money and we can take it when we like". The loan is insured but as the payments go in on a different date every month, the DD often comes out before the payment goes in. I have offered to pay by other means but they refuse to let me cancel the DD. This also means that the payments mostly go towards paying the charges and not the loan. Can they refuse to let me cancel a DD? and why can't they just let the insurance company (RBS loanguard) make the payments direct to them instead of insisting they go from RBS loanguard to my account and then to them!! I have been to see the bank manager who politely told me she no longer deals with my account and cannot help in any way and that I can only deal with the collections department who I can only contact by phone (at my cost) and who are the rudest and most unhelpful people I have ever had the misfortune to deal with.

Sorry to be so long winded but can anyone help?

[isidore]

Hi Jdadda,

 

All sounds a bit out of order to me. For a start, what sort of loan is this? Is it a consolidation (debt) loan? I.e. one you were forced to take out to cover other debt? I have had one of these and they do insist that you pay through your bank account. If it's not, I can't see how they can enforce this.

 

Not sure about the double payment whammy. The "we can take it when we like" line is not on! Can you explain what you mean by the payments going from loanguard to your account and then to them? Bit confused. Doesn't sound right though.

 

The loan is insured but as the payments go in on a different date every month, the DD often comes out before the payment goes in

 

Which payments go in different dates? Your payment to cover the loan? Whatever happens, your money must get in there before the dd comes out. If it doesn't then get the date of the dd moved to a later date.

 

Rest assured, someone will be able to answer your problems