From what I have worked out... the actual Interest they are charging me according to their agreement is approximately 7.6 % Not a bad rate Am I right??!

Atwozee has pointed something out which I overlooked... but then the interest they are charging me is over £1000 LESS than they should be charging me (in my favour!). According to their method of calculation. Here is the link: http://www.consumeractiongroup.co.uk/forum/hsbc-bank/182515-hsbc-managed-loan-cca.html#post1968806 Any suggestions? This is NOT a defaulted account, it is ongoing.

The thing is though.. the interest doesn't add up.. but it is in MY favour Arguing about it will make me look like a fool wont it.. because I have got away with over £1k worth of interest?! I might move this somewhere else and seek confirmation .. I wonder if anyone else has the same problem? Thanks for your help.., I really hope I have a case! xx

I posted it up.. if you find my threads it is the Natwest default removal thread I got a nice letter apologising for problems with customer services.. I quoted from the letter on the thread. If you wish I can scan the whole thing up for you but it will take me a while as i packed the printer away for now (Done all my letters and I used a laptop)

Wow you are so clever! I thought the amounts didn't add up but it was down to the two figures at the bottom being the same!! I am not the sharpest tool in the box when it comes to adding up!! I have the original signed agreement here... well a copy of it.. how can alerting them to it make them do something about it? What could they do? If I can worm out of this one, immoral or not, I would most definitely love to because they completely kicked me when I was down. ETA: They amount of APR isn't right either. It says an annual rate of APR which is 12.7% variable. Well this would be 144/12 = 12 (12 years) £2350 x 12.7% = £298.45 And 12 (years) x £298.45 = £3581.40 How have they got their figure of £2'095.78 ? That is their interest figure.... which is much better than mine.. but how have they done it? EDIT AGAIN: All my calcs above are of no weight - THEY are using an APR of 12% per annum... but still works out at £3384 and not what they have said?!? confused.com

Natwest (same as RBOS) Wrote me a lengthy letter saying that they took breach of Data Protection seriously and removed my Default within a fortnight! It was a satisfied Default! I found their service so good I am half tempted to write a thank you note!

You should be taking them to court and suing them for damages/distress/embarassment. Stopping you getting a mortgage is dreadful for an account that does not belong to you

Has the postman died? No idea why, sorry.. it's not like them.. unless they know they maybe haven't got a leg to stand on?!

Thanks I think it's a fair enough agreement provided you can pay it off after a quarter Which isn't looking likely yet.. but I will try. It's having it over 12 years that is annoying! And is it trashing my credit file, just by saying it's a managed loan?

Hi, thanks again. Well nobody has reviewed it. A quarter of the term is 36 months so if I could afford the 2k I can pay it off right now. Might be worth doing if I could save that much They haven't notified me EVER of interest rate changes and I know they have gone down - my interest is much less right now. It was their fault I was forced onto a managed loan, and looking back I don't see why. I had never missed a payment on the credit card I had wth them and only ever late with a couple of payments on the other loan. I would love to screw them over but I don't think I can

All the figures have to add up and the interest charged has to be correct too, to within 0.01% either side of the APR Can you work that out?

Tell them they are being deliberately obstructive and query why they sent you one, and not the other? I wouldn't send them a signature for your CCA as they will only get creative with an old agreement Where is it stated in the Law that you MUST send a signature before they can reply with your request? Can't you just send them proof of Identification?!

SAR is a Subect Access Request. It gives them 40 days to send all the information they hold on you, which should include statements/Default Notices/agreements. From those, you can see which ones are enforceable and which aren't. No good paying people who have no right to collect It costs £10 each SAR but if you do this and claim bank charges back at the same time/get defaults removed.. it will be well worth it

Am really sorry.. not read this for a while. Just donated £20 from my husbands card and we're both wishing you luck

subbing

www.equifax.co.uk You can buy your score online with them for £14.95 And you can register for a 30 day trial with them also. Which will give you your credit file. Same with Experian. 30 day trial... www.creditexpert.co.uk

I would SAR them all and go for wriggling out of them to be honest. They have screwed me over since 18 with £25 charges and didn't play fair when I lost my job back then..

From what I have learnt on here.. it looks like it has all the correct terms.. All the amounts/interest etc etc.. Someone will hopefully come along and say otherwise though

Have you checked your credit score? What is it coming up as? Poor/Fair/Good? Coop do a step account type thing as do Natwest.. and if you prove to be a good customer.. no problems.. they will upgrade to Visa/Cheque book etc Hope this helps. If your credit file is good, I don't see why you wouldn't get a regular one

So is this an incorrect CCA then - there is no other terms of insurance etc etc... I am going to double check then! I want Capital One gone off my credit file! And just noticed Citibank have defaulted for £685 which is £400 more than my credit limit... was going to let them get away with it as the Default falls off in August but now I want my money back... :mad::mad:

Yes they are

Thanks Pete! I would like to pay it off early, it's a 12 year loan.. they forced me onto this with bank charges and I was so desperate for money back then I had no choice

The Beast deserves to be behind bars. So does his partner.

Yes it's all fine.. I can read it clearly yet when you magnify it on here it blurs! Only thing I am thinking is.. .there is no separate PPI agreement.. just a tick box and a reference to Term 14 overleaf. Is this OK? They have Defaulted me comprising mainly of charges anyways, so I have that on them

You are in the same situation I am in - I am trying to get the charges refunded and the Default removed. Was defaulted December but I think Default was placed on file in January Was also paying it If your default comprises of unlawful charges then that's the way you can play it