Jump to content

Showing results for tags 'compounded'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • The Consumer Forums: The Mall
    • Welcome to the Consumer Forums
    • FAQs
    • Forum Rules - Please read before posting
    • Consumer Forums website - Post Your Questions & Suggestions about this site
    • Helpful Organisations
    • The Bear Garden – for off-topic chat
  • CAG Community centre
    • CAG Community Centre Subforums:-
  • Consumer TV/Radio Listings
    • Consumer TV and Radio Listings
  • CAG Library - Please register
    • CAG library Subforums
  • Banks, Loans & Credit
    • Bank and Finance Subforums:
    • Other Institutions
  • Retail and Non-retail Goods and Services
    • Non-Retail subforums
    • Retail Subforums
  • Work, Social and Community
    • Work, Social and Community Subforums:
  • Debt problems - including homes/ mortgages, PayDay Loans
    • Debt subforums:
    • PayDay loan and other Short Term Loans subforum:
  • Motoring
    • Motoring subforums
  • Legal Forums
    • Legal Issues subforums

Categories

  • News from the National Consumer Service
  • News from the Web

Blogs

  • A Say in the Life of .....
  • Debt Diaries
  • Shopping & Money Saving Tips
  • chilleddrivingtuition
  • Homegirlxx

Categories

  • The Youth Academy
    • The Youth Consumer Service
  • Miscellaneous

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


Location

Found 1 result

  1. Hi all, This is quite an old issue, which I am able to address now. Approximately in 2002-2004 I opened a student account with Natwest Bank. Due to family issues and student debts, this account became essentially dormant not long after it was opened. This shouldn't necessarily be a problem, however there was an outstanding overdraft on the account. I have retained this overdraft following bouts of employment where i've been able to repay some of it, often setting up monthly direct debits of £40-50 - turning an overdraft of around £1600 to a now £800. Having examined some recent statements, I have realised that I have been charged numerous charges, often one justifying another. For example (fictitious figures at the moment, but close to originals from memory): £1500 overdraft receives £40 interest charges This pushes the account over the agreed overdraft for further charge of £15-25 Due to the account having activity (as if I were using it myself), it counts their own penalties as me using the account overdraft, for a fixed fee of £6. This downward spiral has been significantly muted now i've been able to pay off around 50% of the total cost, however I am curious as to if I will be able to reclaim the £6 account 'use' fee, despite me never actually drawing that money it - it was their own account interest that caused it to be 'active'. For information, I have informed their collection dept numerous times that I do not use this account so I should not be charged them, and once paid off in full, I wish the account closing. By my estimations, I believe (if the £6 is illegal/unfair) that the outstanding balance would be nearly paid off in full (approx. 10yrs of £6 per month, + interest). I feel that as a student I have been unfairly preyed upon, and even now, after nearly 7yrs after graduating, I am *still* trying to pay off this debt. Please could anyone advise as to anything I have mentioned, and if it is common/possible? Thanks for your assistance. (I understand that I will need an itemised statement dating back to account creation, which I will ask for if there is something to reclaim)
×
×
  • Create New...