Hello - new here but this is just the forum I've been looking for. I've been trying to figure out how to get out of Managed Loan I was forced into by HSBC in March 2005 when they cancelled my overdraft and rolled up that, credit card and personal loan together into £16,000 (not convinced how they got that number!) at 11% over base rate. They said I had to take it out or they would take me to court and make me bankrupt. Also said I could re-negotiate after 6 months but would not consider it when 6 months had passed, nor after a year, nor after two years passed. Anyway I've now paid nearly £12,000 and still have £14,000 to pay. Lovely people. Current thinking is to use section 93 (interest not to be increased on default of regulated agreement) of Consumer Credit Act 1974. As the only default I had made was on the original personal loan and am thinking that the imposition of the Managed Loan interest rate is a penalty for the original loan. Any thoughts anyone? Next, thinking that the provisions of the 2006 Consumer Credit Act relating to unfair relationships might be helpful in that the court must take into account all the circumstances when I entered into the Managed Loan (which I guess would be similar for a lot of people) including the harrassment, the broken promises etc and, from what I understand, it is for the bank to prove that they acted reasonably. Even if there had been a risk to them (given my default) why would they increase their exposure to such risk by extending the term of the loan and not substantially reducing the payments. In addition, there are more than £600 of bank charges which were rolled up into the loan (the majority of the interest free overdraft). Also, should I be using the court or the Ombudsman?? :? Anybody have any thoughts on all of the above as I'm sick and tired of paying this every month and not seeing the balance go down - except from some help from global economic collapse lowering the base rate of course!. Feeling very dim for having signed the ruddy thing in the first place. Thanks for your response in advance. PC