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    • Thank you for your reply, DX! I was not under the impression that paying it off would remove it from my file. My file is already trashed so it would make very little difference to any credit score. I am not certain if I can claim compensation for a damaged credit score though. Or for them reporting incorrect information for over 10 years? The original debt has been reported since 2013 as an EE debt even though they had sold it in 2014. It appears to be a breach of the Data Protection Act 1998 Section 13 and this all should have come to a head when I paid the £69 in September 2022, or so I thought. The £69 was in addition to the original outstanding balance and not sent to a DCA. Even if I had paid the full balance demanded by the DCA back in 2014 then the £69 would still have been outstanding with EE. If it turns out I have no claim then so be it. Sometimes there's not always a claim if there's blame. The CRA's will not give any reason for not removing it. They simply say it is not their information and refer me to EE. More to the point EE had my updated details since 2022 yet failed to contact me. I have been present on the electoral roll since 2012 so was traceable and I think EE have been negligent in reporting an account as in payment arrangement when in fact it had been sold to a DCA. In my mind what should have happened was the account should have been defaulted before it was closed and sold to the DCA who would then have made a new entry on my credit file with the correct details. However, a further £69 of charges were applied AFTER it was sent to the DCA and it was left open on EE systems. The account was then being reported twice. Once with EE as open with a payment arrangement for the £69 balance which has continued since 2013 and once with the DCA who reported it as defaulted in 2014 and it subsequently dropped off and was written off by the DCA, LOWELL in 2021. I am quite happy for EE to place a closed account on my credit file, marked as satisfied. However, it is clear to me that them reporting an open account with payment arrangement when the balance is £0 and the original debt has been written off is incorrect? Am I wrong?
    • OMG! I Know! .... someone here with a chance to sue Highview for breach of GDPR with a very good chance of winning, I was excited reading it especially after all the work put in by site members and thinking he could hammer them for £££'s and then, the OP disappeared half way through. Although you never know the reason so all I can say is I hope the OP is alive and well regardless. I'd relish the chance to do them for that if they breached my GDPR.
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Contractual Interest?


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A company called Oakham have been in touch regarding a loan i took out several years ago,

although i thought it had been paid they claim i still owe them a small amount of money.

 

I asked them for a statement which seems to say they are correct.

 

The issue i have is the large amount of interest charged each month,

they call it 'Contractual Interest'

and i am wondering if this is the same as PPI?

Would be grateful for any help on this.

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Can you give more info on the background of the debt please. Also, stay off the phone.

 

Contractual interest is interest that is put on the account as agreed by the terms of your contract. It isnt PPI.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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Thread moved to General Debt Issues Forum......please continue to post here to your thread.

 

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Andy

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Contractual interest is not PPI im afraid... Its the interest which is applied in contract

IE PDL @ 6000% Interest APR...

 

How much was the loan for?

 

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Many thanks for clarifying that. The loan was for £250 which at the time i was desperate for, when i now look at the statement it appears that i paid £65 a month and they took between £21-£29 Contractual Interest!

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at these usurious interest rates even small errors add up to a lot of compount interest so knowing exactry what the terms were and how the interest was calcuated (daily rate?) would be helpful in challenging this. Also, if the loan has been defaulted then they cant claim interest on the debt after the default as that effectivy severs the contract

So, when was last payemnt and how much do they say was due at that time after you last payment? I bet that you owe pennies at most and the rest is unenforceable add ons

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