Hello All, some advice requested - please and thank you. long story short - Following SAR, I discovered that the bank had applied an incorrect rate of interest to a loan i took out way back in 2002 (i had thought the "extra" was due to PPI). After an amount of to-ing and fro-ing bank rejected PPI had been included. Bank argued re the "extra" monthly repayment amounts but paid £100 for distress and inconvenience directly into my account and advised me to contact FOS if not happy. Matter therefore promptly referred to FOS. The bank now agrees that the 16 monthly repayment amounts were incorrect and have offered to refund the overpayments ONLY with an additional £75 for distress and inconvenience. Question - is this offer fair and reasonable? i.e. no offer of interest % repayment- be it statutory 8% and/or other related and claimable interest...and on what substantiated basis could one put forward an argument for repayment? I have to respond to this offer within a matter a days and thus it would be marvellous to hear from you all in due course. Many thanks indeed.

In 2012 I went to court to get an eviction stopped, which happily I did. My CMI is £348 p.m. and to make a good offer I said I could pay £500p.m., a round figure, which would clear arrears in about 8 or nine years. There are twenty or so years left on the term. The recent talk of interest rate rises has got me wondering though. When my mortgage company puts my payment up do I just add that difference to my monthly payment or do I pay the same and take longer to clear the arrears? I expect that the company would tell me to pay more but where do I stand legally?

I sent paperwork to them a couple of years ago, which they rejected. Two weeks ago, out of the blue, a reversal of their earlier decision and an offer of £5K to settle, which they credited to my account last week. Seems like the regulator is finally making some progress.

just made the final payment on my ge loan this month it was 10500 over ten years i now recived a letter saying your loan expired on march 2013 . your outstanding balance is4202.61 and needs to be paid in the next 14 days if the balance is not paid your account will continue to attract interest. they have rang me today demanding i must settle this outstanding balance and could do so on monthly payments i told them i would have to get some professional help on the matter before agreeing to any payments i asked what this outstanding balance came from as i made all the payments over the 10 years even though i did have some problems along the way, told me it was for late payments and interest over the loan period . just wondering where i stand on this cos if i have to pay they will keep adding on the interest, any help on this would be great regards joe

Hi there and thank you for letting me be part of this awesome forum. I have a question which I would be greatful if anyone could give me a definitive answer to. I took out a loan through FP with CT Capital being the broker in 2006 against my property for 35000 5 years ago I joined the many and claimed the mis sell of PPI. I received back 4500. However my loan amount barely reduced after they said they had removed the PPI. I believe I am still paying the interest on it. Can I go at them again either FP or CT to get this removed altogether? Many Thanks in advance G

In our local paper last week Single mum Alison Turner is taking one of the country's biggest banks to court for allegedly harassing her about her overdraft.In what is expected to be a ground-breaking case, Ms... Hope link works Enjoy

Just a quick one. I work in IT doing web application development. A client wants a website created, which is a system that compares a type of product, and requires a big database of said products. The client had us sign an NDA before they revealed their idea. The issue is, I have been speaking to a relative about this exact same idea before the client told us about it, I even have a database of the products already built, all in my own time. I worked many hours on research and building servers to support it. I showed my boss the work I have already done on it, and I get the impression that hes now more excited that I already have what they need for the project and it will save us time. I don't want to give up the work I've already put in to this, since I still see it as our idea. Q1. Can I charge my boss/client for the work I've already done? Is this a good idea? Q2. Can my boss just get me to do this work again during office hours and then the company will own the rights to it? Q3. Should I expect problems if I went ahead with my plan, since we signed an NDA already? Q4. How can I protect the idea without them claiming we stole the clients idea?

I'm on a barclays bank account type (aka "bba") and i've gone past the £15 buffer a few times, 3 or more days past the buffer before paying it back, but have never been charged the £0.75 a day charges on any of the days I've been past -£15. As of recently I've been on for a period of 3 or more days now over the buffer to see if I would be charged the interest. This is recently though, and I could be just assuming the fees will appear at the end of the month and are not added day-by-day so they won't display on my online banking summary. http://www.barclays.co.uk/CurrentAccounts/Changestooverdraftsandwaystoavoidfees/P1242663274269 After checking the calculator shown at the bottom page of the link above I can see I should have been charged 75p per day on numerous occasions, but never have. I'm pretty sure my bank account is just a bba too as it says "bba" in the account type in online banking. Which theoretically means I should have been charged. Just wanna make sure since I want to buy something and it will cost close to the max on the overdraft before paying it back in a week and don't want a it to spiral into those £30 a day stuff going into an unauthorized OD with the 75p a day charges if they surprise you with them at the end of the month with a bulk charge. I guess I could phone them up but don't want to sound like a cheapster or tip them off to "correcting" my account status plus paying back what I "owe" them or something. So anyone know? Do they add these charges at the end of the month in one big lump or are they supposed to show up trickle-by-trickle every day? Thanks in advance.

I have had a thread on the Financial Legal Issues forum regarding a debt owed by my boyfriend to Vanquis which was bought by Lowell in 2010. Link below, http://www.consumeractiongroup.co.uk/forum/showthread.php?416410-Lowell-BW-Court-Claim-old-vanqius-card-debt-Help-Please I have had some great help from members of CAG. Someone has suggested that we claim the PPI and Charges back from Vanquis at the Compound Interest Rate which is 24.9% instead of just claiming statutory interest of 8%. I have no idea on how to go about this and would like some help in reclaiming this money as it will wipe out the debt to Lowell and they will end up owing my boyfriend money!!

I have had a CO for the last 6 years on my property and looking at the court forms interest is being added every month. The issue is that since the charge was granted I have had absolutely no contact from the creditor at all. I did ring them once to try to set up a payment plan but was rudely rejected and told to pay the whole amount plus interest or they were not interested. So my question is, are they meant to send me an annual statement of interest as I have no idea how much the debt stands at now? and when in a few months I have enough saved to pay off the amount of the CO but not any interest, can I have the CO removed? Any advice would be appreciated thanks

I have a charging order secured against an ex landlords property. This was for an amount around £10,000 with interest allowed to be added at a rate of 8% per annum. The landlord has made no payments to account and the charging order was granted almost 3 years ago. I am in process of writing a letter to the landlord and need to work out how much now will be owed. Do i add interest on annually onto interest already incurred? if that makes sense. Or is the interest just on the original £10,000 debt?

Good morning All, I hope everyone is well! I have a question that perhaps someone here will be able to help me with. I've recently had a complaint for PPI upheld with Santander (previously Abbey National) for a loan taken out in 2006 and I've received an offer of payment, but the 8% interest calculation they've done looks woefully inadequate. The account went into arrears shortly after the loan was taken out due to me losing my job because of illness. I then made payments through a debt management plan for a number of years, but the payments weren't for the full monthly payment of the loan (which is why I'm struggling to calculate the interest myself). I did make two full payments at the beginning of the loan and using the ppi interest calculation spreadsheet, the interest they've offered doesn't even cover the interest on these two payments. I have all the paperwork if someone wants to take a look. I'm thinking of sending a letter back asking them to clarify how the calculations have been made. Any advice would be massively appreciated and greatly received

Hi all I have had a Barclaycard ppi claim refused after 2 attempts so have decided to issue a court claim via moneyclaim online. T he issue that I have is in regards to what interest rate I can charge for the claim. The ppi premiums were for 22 months back in 2003 and the card apr was 29.9%. Am I only able to charge 29.9% interest on the court claim for the period that the ppi premiums were deducted, i.e until the end of the 22 months or can I charge the 29.9% up until I issue the court claim. Or would it be 29.9% for the 22 months and the 8% from the start of the ppi premiums until the court issue. Many thanks for your help

I'm hoping that someone will be able to help me as I'm feeling absolutely desperate. Our interest-only mortgage with GE Money was due to expire in May 2014. However, in September 2013, my husband was involved in a road traffic accident and sustained brain injury. Since then he has been unable to return to full-time employment. I wrote to GE Money before the expiry date, explaining our situation and requesting that they extend the mortgage term for another year until our situation improved and we were able to approach another company to re-mortgage. Despite providing them with medical evidence, they rejected this offer. In early October 2014, they sent a letter informing me that they would take legal action to recover the £190,000 outstanding (our property is worth around £270,000). I phoned them, once again reiterating that we had kept the mortgage payments up-to-date and that once I had a full-time job, I would seek a remortgage with another company. They said they would consider this, but make no promises. On Saturday this week, however, we received a letter from their solicitors (Eversheds) informing us that they have been asked to represent GE Money and that we will shortly be notified of a court date. My husband has suffered with anxiety and memory problems since the accident and this situation is making matters ten times worse. Any advice would be most welcome.

Hi there, im trying to help my dad to see if he was mis-sold PPI. He took out a mortgage with Woolwich back in 1996 - 2006 of £20k. He thinks that PPI was added without his knowledge to the loan . He was in full-time employment at the time. He has half of his yearly statements but not the actual policy document. The thing i don't understand is that the mortgage was 'interest only', does that mean they were only paying for the interest and not the money that they borrowed? on the statements it shows that monthly payments were made & at the end of the annual term interest was debited. Does that mean that they paid us the interest back - I'm abit clueless lol. So yeah, can we still claim PPI on this? I'm happy to show the statements, if anyone wants to have a look at them for me. Thank you in advance.

Hi everyone, Is anyone in the same situation or maybe I can get an advice? In 2007 I took together mortgage( interest only) with Northern Rock for £162.000 For the first two years we were paying interest only £865.30 at 6.35% After that in 2009 the interest dropped to SVR 4.78% so they recalculates our payment to £663.30.(interest only) We decided to keep paying the same original amount, and start overpaying the mortgage. Over months/years our outstanding balance was decreasing. In November 2013 I realised that the amount of interest charged has been the same since 2009 despite overpaying by nearly £15k by then. our outstanding balance decreast by around 15k but the interest has been charged from £162k that we originally borrowed. I have contacted NRAM and they told me that the interest has been the same because I haven't instructed them to recalculate it. And if the overpayments where over £500 a month it would be done automatically. they told me I have to call them each time I overpay over £500 and ask to recalculate my monthly payments. Is this legal?? In my mortgage documents it says that my interest is charged daily. Re overpayments ''Following receipt of a regular overpayment or a lump sum repayment, the amount that you owe and the amount of interest that you pay will be recalculated with effect from the following day'' When I checked my statement back only with two statements in 2009 there has been a note under overpayments that "If you make your monthly payments by Direct Debit and the overpayment is £500 or more your monthly payment will be changed automatically. You have the option to leave your monthly payment unchanged, which will have the effect of setting up a regular overpayment and further reduce your outstanding mortgage balance..." Is there something I missed here, or NRAM is taking a chance? In original morthage documents there was no mention that i have to phone them and ask to recalculate and no one has told me that when i was setting up overpayments which them. I would really appreciate your opinion, thank you.

Hi, I defaulted on a loan with Colonial Finance back in the late nineties/early naughties, and it was sold on in turn to various credit agencies such as Allied International (lovely bunch of people there!) and lastly Chatham Finance. The £10k loan, plus the £4k interest and £2.7k PPI cover was all passed on to Chatham finance, a total of £16.7k. I have negotiated with Chatham over the years and managed to tie them down to a 1% interest rate on my debt, the outstanding balance of which now stands at £3,800. I have always thought it may be illegal that Colonial sold on the £4k interest and £2.7k PPI parts of the loan. It has obviously created a situation where I am paying interest upon interest. I have never questioned the interest/PPI issue with them because I always try to avoid contact with these people as much as I can, and I didn't want to get into a situation where they would increase the interest rate I had negotiated so hard for due to me arguing various issues with them. That said, could anyone advise if Colonial were in their rights to sell on the interest and PPI elements of the loan? This debt has caused many a tear over the years, just like it has with other people on this forum who have had similar experiences of abuse & harrassment. Could I claim that I was illegally sold the PPI, even though it's over 15 years since I took out the loan? Would any such claim need to be made against Colonial or Chatham? Any advice would be greatly appreciated. Thanks. Steve.

Hi, A quick heads up on my dilemma.. .similar to another post . I currently have 2 accounts with Barclaycard totaling nearly 7k my £180 monthly payments are the most i can pay.. .The debt does not decrease though as it gets swallowed by interest payments. My credit rating is very poor and i cannot get any which is a good thing as it stops future debt. I have contacted them regarding this and although they said they would freeze repayments for a month whilst i send them a expenses form. ..I do not want to stop paying the debt its the interest that i dont want to pay.. .I have even told them i will just stop paying because of my credit rating. I have just had a letter though charging me late payment fee and overlimit fee and the bill is for 2 months repayment. ..it totals £160 just for 1 account.. .I need advise please as they say if i do not return the expenses form by 25th feb then they will revert back to charging interest

Morning everyone, I got myself in a bit of a mess with a solicitor 3 years ago when I had a breakdown following separation. I saw a solicitor for an hour or so, he did nothing for me but I stopped answering all e-mails and calls and ended up with a CCJ for £1150. Quite ridiculous, but I only have myself to blame. I didn't take my head out the sand there and ended up with a Charging Order made against my property for £1237.50 which is the CCJ amount plus statutory interest. The charging order was for "the payment of £1237.50 together with any further interest becoming due and the costs of the application." I finally took my head out the sand in October, got in touch with the solicitor and agreed that I'd pay £150 immediately, followed by the same amount every month until the end of February when I would pay the balance from a small company bonus. I stuck to that but at the end of February I took a close look at what he was claiming as follows: £1237.50, the amount of the charging order £100.00 - charging order fee £50.00 - property search fees £110 - Fixed costs All of the above, I completely understand I must pay and I have now fully paid. My issue is with the following claims from the solicitor. He's actually claiming £179.50 in fixed costs, not £110. He is (incorrectly in my view), claiming an additional £69.50 which is allowed for in the PART 45 but only refers to claims made under 70.5(4) which is for non County Court/High Court enforceable actions. He's also claiming £120 in bailiff fees (£60 for transferring up to HCEO and £60 Abortive Fees because apparently I "evaded" the bailiffs - they never visited my property when I was in and never left any letters). I suspect that I must pay both of these costs but have read some conflicting advice online. Finally, he's claiming a shed load of interest. I believe it's quite clear from regulations that interest is not applicable to a debt under £5,000 regardless of whether it's a consumer credit agreement or not. However, interest was added to the charging order. Have I now blown it with regards to opportunity to prevent interest? Now that it's on the charging order, even if it's on there incorrectly, is it now payable? Sorry to waffle on but any advice you can give me on these matters would be much appreciated. This is a mess entirely of my own making but the ruthlessness with which this solicitor has pursued me given how little he did for me is staggering. I want to get this guy off my back and am able to pay him what he's asked but I really don't want to give him a penny more than he is entitled to. Many thanks in advance. Ian.

Hi, My girlfriend and I pay for a service each month and by an oversight, we paid last month's bill a week late. This month we have had a late payment fee added to the bill. The late payment fee is calculated at 1% interest per day on the sum owed after 7 days. (Sorry for not giving more detail about the service but the company is a bit vindictive and we need the service) Having spoken to the CAB we know that it all depends on the contract we have with them (we've been there for a long time so can't find the original contract right now) but wondering what others think about this in terms of 'fairness'.....1% interest per day after just 7 days.

http://www.consumeractiongroup.co.uk/forum/showthread.php?441409-Secrets-of-the-Parking-Wardens-Channel-4-Dispatches%281-Viewing%29-nbsp

Hi I am trying to obtain some help for some close friends who naively accepted a 100% interest only mortgage about 8 years ago with no capitol repayment plan put in place. They bought the property in Scotland at peak price period. It is a sought after area outside Glasgow 5 min walk to a station with a 15 min commute into Glasgow City Centre. The area has been a low turnover in regards to property sales but downside has been an elderly population who have lived there all their lives. Over the last five years a significant number of properties have hit the market from deceased or elderly moving into homes. Some of these properties have required significant modernisation due to the older generation not updating the properties. This has led to average prices falling and bargain prices on those properties. Naturally most have been modernised now but this has impacted on local values in terms of a falling average sale price. Basically my friends need to rid themselves of the interest only mortgage but are concerned if they approach the lender who discovers there is no capitol repayment plan in place it will have a negative impact and could result in the mortgage being called in. The have had hefty loan and credit card debts putting children through education but now the children have left home and work, they have concentrated on paying off these debts. There is no question they can afford to make the repayments on a standard repayment mortgage given the amount of other debts they have cleared. The downside is the property is in negative equity and a general read through the internet does not off much hope on them being able to remortgage. Loan aprox £135k value of property £100-£120k depending on valuation. They are in need of replacement windows and a new kitchen and possible rewiring which may impact on any valuation. I guess I am seeking any opinion that may help me to guide them. Sorry for the long post but any advice would be helpful. I think the broker who sold the product didn't reinforce advice about capitol repayment.

Hi guys! I've been reviewing a car credit agreement I am currently paying, I was originally trying to calculate my own settlement figure using the Actuarial method. However, it seemed to me that in the interest figures stated on the Credit Agreement don't quite add up: Payment setup is as follows: 1st Payment of: £250.00 (arrangement fee) 59 payments of: £316.20 Final Payment of: £511.20 (includes credit facility fee) When I calculate the interest due using the 26.98% figure, my total payable is always much less than my agreement says it should be. Who's wrong, me or the agreement? And in any event, what formula is used to calculate interest on this type of finance?

Hi Guys, with all the latest goings on with Wonga I hoped I might be in line for some compensation as I received letters from 'Chainey, D’Amato & Shannon’ so I filled in the contact section on the website as per the email back in September. I hadn't heard anything by the end of November so I decided to give them a call to see if they would acknowledge that I had been affected by this, they said I was and that I would be receiving a letter in due course. While on the phone I asked if they could send me a statement on my account so I could see what I actually paid back on my £750 Loan, Here is the statement: Initial Loan Advance 30 September 2008 £750.00 Total Principal Amount: £750.00 Payment 03 November 2008 £256.18 Payment 04 November 2008 £100.00 Payment 12 March 2009 £100.00 Payment 17 April 2009 £100.00 Payment 21 September 2009 £50.00 Payment 21 September 2009 £50.00 Payment 25 September 2009 £50.00 Payment 17 October 2009 £50.00 Payment 05 December 2009 £50.00 Payment 08 January 2010 £50.00 Payment 05 February 2010 £50.00 Payment 05 March 2010 £50.00 Payment 01 April 2010 £50.00 Payment 06 April 2010 £50.00 Payment 07 May 2010 £50.00 Payment 05 July 2010 £50.00 Payment 06 August 2010 £100.00 Payment 03 September 2010 £50.00 Payment 08 October 2010 £50.00 Payment 05 November 2010 £50.00 Payment 01 February 2011 £110.47 Payment 07 March 2011 £110.47 Payment 17 March 2011 £220.94 Payment 23 March 2011 £770.65 Payment 05 March 2013 £24.00 Payment 25 March 2013 £4.74 Payment 24 June 2014 £12.39 Payment 05 March 2013 £24.00 Payment 05 March 2013 £24.00 Payment 05 March 2013 £24.00 Total Sum Paid £2,731.84 Total Principal Amount less Total Sum Paid -£1,981.84 Transfer Fee 30 September 2008 £3.00 Extension Fee 04 November 2008 £10.00 Default Fee 30 October 2008 £10.00 Default Fee 28 November 2008 £10.00 Default Fee 07 December 2008 £45.00 Interest 29 October 2008 £222.81 Interest 27 November 2008 £197.50 Interest 13 January 2009 £50.00 Interest 01 February 2009 £534.73 Interest 29 March 2009 £585.67 Interest 21 September 2009 £50.00 Refund 05 March 2013 £174.00 Interest adjustment 05 March 2013 £24.00 Interest adjustment 05 March 2013 £24.00 Interest adjustment 05 March 2013 £24.00 Interest adjustment 25 March 2013 £4.74 Total Outstanding -£12.39 As you can see it took a long time to pay this back and got a default on my Experian Credit file which wont come off until February 2015! I got an email in March 13 saying my account had been wrongly calculated and I had over paid £174.00 and this was refunded. Just really wanted opinion from you guys if I have a case for reclaiming some of this inflated interest and if I do, who do I go to? Thanks D

Hi Everyone, I haven't been on the site recently but i have a question in relation to MBNA and reclaiming, etc I sent MBNA a SAR request, which arrived last week, but looking at the statements, there are a number of charges and interest payments that i don't understand, i hope somebody will tell me what these are and what exactly i can claim back. The payments that are taken are Special Cash Interest Posted Cash Advance Interest Posted Retail Interest These payments were taken every month and each month totalled around £60 There was one other payment that also got taken each month, Posted Credit Insurance fee, that appeared on the statements for about three months and then disappeared. Can i claim all these payments back or is it just the ppi fees and the other excessive fees associated. Cheers cuzznx