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Banksarebullies35

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  1. Hi I have been pondering this sometime. A few years ago 2006 I had an overdraft with Barclays for £5000 despite being on a low wage.. Also another couple loans with them. The latest one was a £1000 loan paying about £66 a month. Well what happened I stupidly emptied my bank account and missed the first payment of the new £1000 loan I suddenly got those red letters for payment interest etc. I phoned up Barlcays as the local bank could not accept my late payment of £66 a ew days later. I told the bank HO debt section I was struggling financially and admitted I had a gambling problem and had been allowed to take out large debt despite a low wage. Thinking they would be sympathetic. BIG MISTAKE I was more or less told my £5k overdraft would be drawn in and the only solution was to consolidate this with my £1k loan and the other one £3k I think. I was shocked I said I was able to make the £66 payment after missing it by a few days but they would not accept the payment and I continued to get the red letters for large amounts I could not afford until I accepted a 10 year consolidated loan. I think I have been duped as I felt forced into this. I went to the local branch and was moreorless told it was out of there hands despite being a loyal customer with a once a1 credit rating. I wish I had not signed the loan now. The consolidation loan now came to £19998.99 10k more than the original debt and I am on a low income. £166.50 over ten years beginning Nov 2007. I feel now I should have refused the consolidation loan and feel I was coerced into this from a vulnerable position. Also I was told that I was given all these loans/large overdraft because they saw large amounts coming in from the gambling.. I now owe about £18k on the loan but feel I am struggling and should never have felt threated into taking the loan. They kind of threatened with court action if the larger payments were not made and I could obviously not afford! Is it too late to do anything now. Is there any possibility I could get at least the debt but back to the original size roughly £9k if any case could be proven for malpractice. I am currently on less than £8k a year and really struggling Your advice please do I have any case> Thanks
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