Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
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    Interest Charges On BOS Overdraft

    I defaulted on a flexable account with an ex partner. I asked for statements going back to 1997 but have not recieved them all yet.What i do have is this though.
    As of 6th jan 2000, I had an overdraft of 4778.66
    As of 14th October 2005 I still had 4854.52 to pay? Ouch Only paid 29 in all that time.


    They have charged me 2838.07 in interest
    I have repaid to the account 2778.00 in that time.

    I paid through an agency for a while, small amounts & for the last 18 months approx I have paid 80 to them on time regular.

    Is this excessive interest?
    Any thoughts what my next move should be with this account. I cannot get a proper bank account because of this default.
    Mike

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  2. #2

    Default Re: Interest Charges On BOS Overdraft

    Ouch! What do you mean by 'paid through an agency'? If you were in default and made an arrangement to pay, I thought that the interest was supposed to stop being added. Who has been adding all the interest? There are some very interesting threads on the forum concerning debt collectionicon agencies.

    Robertxc v. Abbey - 3300 Settled in full
    Robertxc v. Clydesdale - 750 Settled in full
    Nationwide v. Robertxc - 2000 overdraft wiped out, Default removed by order of the sheriff
    Robertxc v. Style Card - Default removed by order of the sheriff
    Robertxc v. Abbey (1) - Data Protection Act action. 750 compensation
    Robertxc v. Abbey (2) - Data Protection Act action. 2000 compensation, default removed

    [B] The opinions on this post are those of Robertxc and not necessarily the opinions of the group and do not constitute sound legal advice. You are advised to seek professional legal advice.
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  3. #3
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    Default Re: Interest Charges On BOS Overdraft

    Thxs for the reply Robert. The agency was one of those companies who promise to lower your monthly payments etc.They were Baines & Ernst. I paid money to them & they then forwarded it onto the bank.I no longer deal with them & prefer to pay myself.The bank have never made an arrangement with me & when I recently phoned to get a settlement on the account I was given a figure to do just that. I thought better off it though, & thought I would get some opinions first before I probably have to seek proper legal advice. They are never off the phone now to see when I am settling which makes me think there is something not quite right here.They have tried to give me a 6 monthly financial review as well but they have never ever ever given me a review before.Going to phone for rest of my statements today(the missing ones)
    Mike

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  4. #4

    Default Re: Interest Charges On BOS Overdraft

    Lowering your monthly payments is only ok if they've managed to do a deal whereby the principle sum owed is also lowered, otherwise you end up just paying enough to cover the interest, and therefore never get out of debt. Which sounds a bit like where you are now.

    I think before you do anything else you need to be in full possession of the facts. If I were in your position I would also be doing a DPA request on Baines & Ernst, so that you can see exactly what they've done.

    Robertxc v. Abbey - 3300 Settled in full
    Robertxc v. Clydesdale - 750 Settled in full
    Nationwide v. Robertxc - 2000 overdraft wiped out, Default removed by order of the sheriff
    Robertxc v. Style Card - Default removed by order of the sheriff
    Robertxc v. Abbey (1) - Data Protection Act action. 750 compensation
    Robertxc v. Abbey (2) - Data Protection Act action. 2000 compensation, default removed

    [B] The opinions on this post are those of Robertxc and not necessarily the opinions of the group and do not constitute sound legal advice. You are advised to seek professional legal advice.
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  5. #5
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    Default Re: Interest Charges On BOS Overdraft

    Robert thxs once again. I have the statements pertaining to the period Baines & Ernst were paying my debt so thats not a problem.When the account first defaulted they were charging over 100 in interst monthly but all of a sudden they changed that to about 30 after a few months.They do not communicate with my ex partner, just me, but all back statements show just my ex's name as having paid the debt(I give her half every month). I guess that I am the one defaulted & she has got off scot free.I will update this as I get more info.
    mike

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  6. #6
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    Default Re: Interest Charges On BOS Overdraft

    Just had a thought. Can the bank issue a default on my credit file(which they have) if I can prove i have paid money into that account every month without fail?
    Mike

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