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Found 4 results

  1. Hello all My problem in a nutshell: I've just sold my house and was flabbergasted to receive not one but two exorbitant redemption statements from my first and second mortgage companies, although the names of the lenders will no doubt surprise no-one here: First Mortgage - Paratus AMC (interest only) - Balance approx. 160,000, 'Arrears, Arrears Interest and Fees' almost £4,000 (I'm pretty sure there are no longer any actual arrears) Secured Loan: FirstPlus - Borrowed 50,000, Balance - 27000, Settlement figure **43,000** - I thnk I must have a share of Vorderman's plane included in that I was in arrears for a while after being unemployed for around a year between 2009-2010 and made payment arrangements with both companies and it appears to me that they have been profiteering from my misfortune and my lack of understanding of how they operate, ever since. I can't stop the sales process (we'll complete tomorrow all being well), but I'm hoping there may still be something I can do after redemption. Any pointers as to the appropriate forums for these matters (if this one isn't) - and advice on getting some redress - would be very welcome. I've had a look around, but unsure. Thanks BankSqueezed
  2. Hi there, Can anyone give me an idea how Barclays Bansk SHOULD calculate then apply interest on a home improvement loan with an APR of 26.7%? Should they calculate interest daily which is compounded after having taken off any payments or do they do this calculation monthly. The reason why I ask is it appears that Barclays have lost AT LEAST TWENTY weekly payments from a home improvemements loan where we were supposed to be able to over-pay - and although they have 'found' the lost payments, they have tagged them to the end of the statement and allowed just £27 in overcharged interest. I would like to do a spreadsheet of what SHOULD have happened had they not misplaced the overpayments to make sure that they are not shafting us. But the thing is, on asking them how they calculate the interest, they just won't say !!!!!!! Anyone??? Help, please
  3. I have been asked if I can help a friend to manage their debt problems. After a troubled relationship broke down her partner disappeared leaving her with considerable debts. These were mainly on credit cards in her name, although at the time she hadn't realised quite how much he had run up the debt before finally vanishing. She accepted responsibility and approximately 5 years ago she voluntarily entered a dmp agreement with a non fee charging company. There were three main debts, an RBS credit Card (£14500), Natwest recoveries (£25000) and Santander (£12000) She has reclaimed PPI in respect of the Natwest one which managed to recover approximately £10,000, but no ppi is due from the others. She has never missed a payment. Where she feels let down is that last August after having paid off about £15000 to the RBS debt the DMC stopped making payments to them in the shared belief that that debt had been settled. She continued to pay the same amount and the balance was split between the other outstanding debts. RBS then issued a default notice saying that she still owes almost £9000 because they didn't freeze the interest and charges etc have been added to the debt over the last 5 years. She has contacted them direct and they have told her she 'sounds like she can afford to pay it so, tough, and she has paid for the last 5 years so if it takes her another 20 years then she shouldn't have got into debt in the first place'. After this last comment she was crying so much she just hung up on them. She has contacted the DMC who have said that it's not their fault because it is down to the banks discretion whether they freeze interest and she should have checked at the start of the DMP because it is her responsibility to check these details not theirs. even though they were clearly under the impression this was the case and the debt was finished they are offering no support apart from reinstating the payments to RBS. After one call to RBS they did offer to credit her with the £12 default fee. for a debt of £14500 she has now paid £16300 but still owes another £9000. This is just the RBS debt. She is at her wits end and is really beginning to suffer from the stress of this seemingly never ending saga. She thinks the interest has been frozen on the others but isn't sure, as far as I know has never requested a copy of the credit card agreements and apart from the ppi claim has not claimed any charges back (I thought that window was closed now). I'm not really sure where the best place is for her to start. She is willing and I think capable of managing the debt herself if she thought that the money she was paying was clearing the debt and not just taking her two steps forward and then one and a half steps back because of the interest. Any suggestions or advise would be very gratefully received.
  4. Hi I have been reading with interest this forum, but I cannot quite come to a an answer for my question so I hope someone can help me My debt is ten years old , has been defaulted , repossessed etc but I am still being chased for charges and interest, residue to the loan and default charges. The debt is not recorded anymore on my CR file and the BH admit to not reporting it as the vehicle was repossessed and sold, Can they take me to court for these charges and report the same to the CRA? I do think I have served my time on this debt and overpaid them as it is.
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