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From their website: "Charged to cover the administration of issuing an arrears chase letter." - Outgoing arrears letter I'm not condoning missing mortgage payments, but surely £27.50 is a lot for a one-page (presumably computerised) letter and envelope being sent out? I think this has been covered previously (in 2011) but I'm not sure of my best course of action. Or whether I have a claim at all? Can anyone help me? I have received 2 of these letters in the last fortnight alone. £55 is hard to take for 2 sheets of paper and 2 envelopes! This figure is clearly exceeding actual administrative costs, and I find them unfair and therefore unlawful. Are they well within their rights to charge such a figure? Sometimes I have had these letters without even a prior phone-call to chase/remind me to make payment.
Five of Britain’s biggest lenders have been told by the Bank of England they must raise more than £13bn between them to close a £27bn blackhole in their balance sheets. Lloyds Banking Group has been told it must set out plans to raise an additional £7bn, more than double the £3.2bn Royal Bank of Scotland has been told it must raise, while Barclays will have to find an additional £1.7bn of new capital and Co-op Bank £1.5bn. The capital raisings follow a stress test exercise on the lenders conducted by the Prudential Regulation Authority (PRA), which found a total capital shortfall in the British banking system of £27.1bn. RBS was identified as having the largest capital shortfall of £13.6bn, however the bank has already put in place plans to raise £10bn. Lloyds’s had the second largest overall shortfall of £8.6bn and before the exercise had plans in place to raise an additional £1.6bn of capital this year. In a statement the bank said had generated £5.8bn of additional capital this year and was about "three-quarters of the way towards" meetings its 2013 capital requirement. Co-op Bank had already disclosed a £1.5bn shortfall earlier this week and has put in place plans to raise £1bn of additional capital by the end of the year and a further £500m in 2014. More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10131483/Lloyds-RBS-Barclays-Co-op-and-Nationwide-responsible-for-higher-than-expected-capital-shortfall-of-27.1bn.html
Hello CAG I hope you guys can help me as you seem to offer the bestadvice?! I have just discovered that I too have a default fromVodafone. Last week my partner and I tried to take out our first mortgage but unfortunatelyafter a credit check we were made aware of a default on my credit. The amount I was defaulted for was £27.33 from back in 2010! This was a massive shock to us as I was not aware of anyoutstanding balance as I had closed my account and paid the last bill and I hadn’treceived any communication from Vodafone whatsoever. I cannot believe that acompany of Vodafone’s stature would do this, especially without any sort of communicationor pre warning. I never received any Emails (even though I was an online memberof their website), any phone calls or any letters before they have effectively ruinedmy chances of obtaining a mortgage. Please can you offer me any advice on what I should do next?I have read multiple threads from this website of similar cases that have been resolved. I need to get thisdefault removed A.S.A.P. if I am to have any hope of buying my first home. Thank you Christopher Pitt
A holidaymaker was left £27,000 in debt after mobile phone company Orange extracted £120 an hour from her account for almost a week. Anne Roberts was horrified to discover NatWest had repeatedly taken funds after she purchased a £20 pay-as-you-go phone while holidaying in Wales. A technical blip meant Orange had been withdrawing £20.49p from Ms Roberts’ account every ten minutes since she bought it. Link: http://www.dailymail.co.uk/news/article-2186074/Woman-left-27-000-debt-new-Orange-pay-mobile-withdraws-20-bank-account-TEN-MINUTES.html