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    • I've had to hide your last post.  You left both the PCN no. and the vehicle registration no. showing in both PCNs.  Please redact & upload again.
    • @BankFodderI've made some slight tweaks to the letter, would appreciate your thoughts....  also I'm not sure to keep the bits in bold - what do you think? /-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-   I am the executor of my father’s will and as such I have authority to bring legal proceedings against you on behalf of his estate.   On 2 September 2019 my father bought a Jaguar XF  3.0d V6 vehicle, registration number XXXX XXX, from you.   You know all the basic facts but for the record I'm setting them out here for your information and for the benefit of the court.   ·        My father purchased the car from you in September 2019, however the car was not collected until October 2019. ·      In less than two weeks of having the car, it started to demonstrate some serious defects and as a result the car was returned to you to repair the electrical faults. ·      The car was returned to my father in late January 2020, with the repair still outstanding, despite the fact that you had the car ostensibly to carry out precisely this repair. ·     My father made various attempts to contact you and to discuss the matter with you. In March 2020, a full six months after the purchase of the vehicle, you collected the vehicle ostensibly once again to carry out the repair of the electrical fault. ·       The car was eventually returned to my father six months later in August 2020. It seemed the original electrical fault had been repaired, however upon return of the vehicle, a further fault then presented itself whilst under your possession, in the form of a loud ticking noise from the engine. ·        You commented that you had topped the engine with oil as it had been running low, and your only suggestion was to take the car on a long drive. ·       My father followed your instructions, and this did not resolve the problem. Still in August 2020, the car was returned to you for further inspection and repair. ·         Since August 2020 you have been in possession of the car and apparently the repairs are still outstanding. There have been extensive exchanges between yourself and my father by text message and phone calls and you have informed my father that the repairs were still outstanding and in fact the car is now in an undriveable state. ·         As you are aware, my father died in January 2021 and myself and other members of my family have attempted to contact you to return the vehicle. There has been extensive exchanges between you and I, by text messages and phone calls, regarding the attempted and outstanding repairs of the car. ·         We have asked you repeatedly to advise us of the location of the car together with photographs so that we can make our own assessment and possibly carry out our own inspection and you have not provided any of this information. ·         You have given us various excuses such as, the car is awaiting parts to be fitted, the car needs new parts (turbo charger, crankshaft), the parts are being sent for re-conditioning, to most recently the car needing a new engine, but again we have not been permitted to visit the vehicle to carry out any inspection or to assess the situation for ourselves. ·         I have previously asked for access to the vehicle, and you have refused this, so I have been unable to understand the condition of the vehicle as it is now. In addition, I have been prevented from understanding what work may have been carried out so far and have also been prevented from obtaining my own comparative estimates for the work which you believe needs doing. ·         Not only have you withheld access to the vehicle, you have apparently moved it to new premises and refuse to divulge its whereabouts ·         I have made strenuous attempts to contact you and hold a dialogue with you and you have failed to provide me with the information requested.   Since the beginning of April 2021, I started writing to you formally, sending you three letters and have received no reply. This situation cannot go on any longer. You sold a vehicle to my father which has been scarcely driven since it has been purchased and which has now been in your possession for 20 months (to date).   The car is not of satisfactory quality and my father has not had the use of the car for most of the period of ownership and has been deprived of substantially the whole benefit of the contract.   I take this to be a fundamental breach of contract and as such I consider the contract has been terminated by you and so I require you to refund me the purchase price of the vehicle.   If I do not receive payment of £10,995 from you within 14 days then I shall begin a County Court action and without any further notice.   Yours sincerely  
    • Can you upload <<Clickme a copy of the injunction/paper work in pdf form with Personal details blanked out, so people can advise you further, Thank you....    
    • rarely with a CCJ/CO involved. so if they never mention then you DON'T to them...BUT...   sometimes DCA's can be 'thick' and the more bargaining powers you have the greater the discount might be.   pers i'd try northants bulk, but you'll need the CCJ number(s) the particulars of claim on each will tell you about the debts. and if they are CCA regulated the fact that the dca might not be able to produce one, nor statements upon how the balance is made MIGHT give you greater bargaining powers esp if they are blind to the CCJ/CO. lowells as they were the claimant might not be... but cabot, you never know   there's atleast one case here of <50% settlement i'm sure. though ofcourse as judgements exists , there is no compulsion for either to prove anything.   but IMHO worth a try esp as you are not in dire need to sort them just yet. time till then could be your advantage.   was there any disputes with the OC's upon the level of these debts? but ofcourse you wont remember that till you findout what the debt were....
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Who has had Managed Loans?


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Lueeze, thankyou for your excellent post and the breakdown of the costs in your

case.

A couple of points do arise from your post.

Whilst the rate of interest claimed on the unlawful charges applied to your current

account are accepted as 8%, there should be no argument about the rate claimed

on your managed loan. Here, the disputed charges have been lumped into one sum,

you will have an agreement with the bank about the rate of interest and the loan period. I cannot see any reason therefore not to claim the full rate of interest that the bank charged. You are entitled to expect that your situation will be restored to that that existed had the unlawful charges not been levied

 

In addition, I cannot see why you are not claiming for the interest applied by the

mortgage company on that part of the loan that represents your charges. Had you

not been able to move the loan, you would have claimed for that interest over the

whole period from your managed loan. The fact that the interest claimed via the

mortgage was not charged by the bank is irrelevant. You were forced to pay the

interest because the bank acted unlawfully

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I have one, I was told it was a consolidation loan to cover m/card, o/d another loan. They told me I could change the amounts I paid to suit my income etc then when I fell on harder times they wouldnt reduce my repayments so i could still make regular payments so the same thing charged for having no money. Ive nearly paid mine now tho but they wont take extra payments unless its from a HSBC debit card but i dont bank with them anymore so they wont take extra payments from me so i can pay it quicker!!! losers :mad:

 

Thats exactly what they did to me too. I was in my last year of Uni at the time and during summer set up payments for large amounts as worked full time in the holidays, then when I went back in the October I tried to reduce the payments as they said I could, but then they wouldn't let me. Grrrrrrrrrrrrrrrrrrrr.

 

I can't wait to get my statements back for all this, I bet there is a good 1k of charges to be claiming. :-x

My opinions are just that, I will help if I can but I am NOT a professional. If in doubt seek legal advice.

READ THE FAQ'S BEFORE ASKING A QUESTION! THEY ARE THERE FOR A REASON! AS IS THE USER-GUIDE!

 

My active claims:

Owed £150 from Barclays.

Husbands claims:

Owed £1049 from Lloyds.

 

Glorious Victories!:

Barclays Joint Account- Settled £823.

HSBC Joint account-Settled £50.

Studio- Settled £80.

HSBC Student account- Settled £560.

Lloyds Credit Card- Settled £72.

Freemans- Settled £40.

Abbey Joint Account- Settled £330.

Waiting till all claims settled then Donation-A-Rama.

:D

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Ive read this thread a couple of times now, and Im just a little confused *what* it is about Managed Loans people are claiming?

 

I was forced into a managed loan for about 2k when HSBC refused to help me out of control overdraft and credit card, and kept applying charges to my current account. Im now £250 away from completely paying off my Managed Loan, and after reading this Im still trying to work out what part of the managed loan (if not all) of it I can claim back, and under what grounds?! :E Sorry if Im coming across a little blonde here, but Ive just woken up! ;-)

Matt

 

___________________________

 

HSBC - Received an offer... sent LBA.

Aktiv Kapital - Referring me to GE......

GE Capital - Completely Ignoring Me...

Orange - Send s.10 DPA letter! :D

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ive got a managed loan for about £23 grand, i didnt have a clue what the loan was all i knew was it was my last resort before bankrupsy, ive had a £30 charge already on it for insuficiant funds to pay the s/o. hsbc knows how much finacial trouble im in.... ive got no property, no assets just £23000 hanging over my head. Why shouldnt i go bankrupt?? my other worry was that if i claimed back my ilegal charges, would they close my account and say pay up for the loan?

im in a right state really with my money, im going through divorce, paying maintanence, trying to look after myself to and tryin to pay off my debts and theres not enough to live on.

ohh well theres my sob story i really dont know where to start with working out whats going on with my managed loan..... any advice? maybe bankrupcy is a good option for me?

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  • 2 weeks later...
Basically its like an unnoficial red flag on your account..."This person has had to let us dictate thier loans..don't give them an inch!" It also means you seem to pay a higher amount in interest, they won't help you with anything else until this is cleared! they will charge you rather than give you an overdraft!

 

Hi all,

Another 1 here with a managed loan.......The way i understand the difference between a managed loan and a pers. loan is...I may be corrected..

 

A personal loan is a fixed % interest rate ..eg 7.5% for the term of the loan eg. 5 years(you know how much you pay and when your loan will end and how much interest you will have to pay)

 

A managed loan works like a credit card...

You find yourself in difficulty,they suggest a managed loan @whatever you can afford to pay. YOU have no choice and agree....

Interest is at X % ABOVE the base rate EG 4.5% + X % = Y

 

MY OWN EXAMPLE

i pay 7.5% above base(4.5%) = i pay 12% interest on my outstanding balance(charged daily) and pay say £100 p/m

 

IF the base rate changes to 5.5% ..I still pay 7.5% above that = 13% interest on my outstanding balance (charged daily) but i am still paying £100 p/m

 

Therfore i am paying more interest ..and not changing my monthly payment.So IT WILL take longer to pay off.

 

The basic solution to getting rid of a managed loan is....Find out what % above base your paying...try to get a fixed term loan for a less %...or ..increase your monthly payment as and when your circumstances allow you to ....

 

hope it helps

Mac

HSBC £968

22/6/06 prelim SENT

5/7/06 request for charges RECEIVED

6/7/06 lba+charges SENT

21/7/06 offer of £850 RECEIVED

24/7/06 LETTER SENT accepting offer on condition it is repaid by cheque(as requested in lba) or will continue for full amount+int+cost.

02/08/06 CHEQUE RECEIVED :D

MY THREAD http://www.consumeractiongroup.co.uk/forum/hsbc-bank/11708-mac-hsbc.html

 

:D tommorows just another day..........:D

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I am trying to sort out a problem with a loan my mother took out with the Halifax. she took out a 5k loan in 2001, the interest was added on at the beginning of the loan. Her last payment should have been this month but they are insisting she still has 1 month outstanding but she swears that she has never missed a payment. when she wrote to them asking for details of all payments she had made and which date they claim she has missed the payment they claim is outstanding, they only sent details from 2003. We also noticed she was charged a monthly interest rate on top of the the interest that was added at the beginning of the loan. Should this interest have been added monthly as well as the total or is it a monthly breakdown of the total interest (If that makes sense) or has she been diddled into a ML loan. Also what can i put in my letter requesting the remaining 2yrs of payments so that it sounds i know what i'm talking about and kind of official.

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I had:

 

£500 credit card - it was within its limit and no missed payments

£1000 - INTEREST FREE student over draft - within its limit (just)

£400 - unautherised overdraft - i got this mostly as they let some payments go throught when i didnt have the money then they charged me till it got to £400.

 

I wrote regarding the £400 unautherised account and made an offer of £50 per month - the response was, yeah we accept this and have stopped your credit card, and both overdrafts - here a solo card please stop using your switch cards and master card and return them - we have arranged for a managed loan on your account at £1700 over 5 years - total payable 3000!!!!

 

Now forgive me but thats a lot more interest than i would have paid if i had put £50 a month between my card and overdrafts at low / no interest - i think this was irresponsible leanding, i also felt althought they said if you dont wish to accept within 10 days the full ballance must be clear that i had to accept - i was 21 and didnt know better - i will send a DSAR to them and claim back charges but these will be a under £400 as except for the 2 months where this happened my account was perfect! - i would love to claim the loan back - i know i owe some of it but i shouldnt have to pay all that interest - i pay £50 a month and they put well over £20 on in interest per month, also they mark my credit file as one month late every month even though i always pay on time!

People who haven't made mistakes, haven't made anything!

 

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Guest Lueeze

Just an update, I have ben away since last week so I have not yet filed my HSBC claim.

 

I will not be claiming interest as I do not know the figures for either my managed loan or the consolidation loan I took out as both are paid off now, and the HSBC I only had for a few months so would amount to pennies.

 

Also it would take me over £5k (I already had to reduce my charges so I could keep it in SCC)

 

I will keep you updated. Check my HSBC thread about wording and advice from other mods.

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Ive just had a look at my managed loan. I pay £86/month of which about £55 is interest. Is there anyone here who could work out what rate of interest im paying. I have an outstanding balance of approx £4300 which i recon will take me another 143 months @ £30/month. Im already claiming for £5k (which ive just done at court and im waiting to hear from d n g solicitors. ) so im gona keep reading this thread as id like to claim back what i can.

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i think they are all about 17% interst but obviouslt if you only pay a low percentage a month of the ballance most becomes interest :(

People who haven't made mistakes, haven't made anything!

 

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Okay I have received a response to my Prelim letter saying that HSBC do not think that I am entitled to a refund at all.

I am now going ahead with the LBA letter but can I include at this point that these charges led to me being forced to get a Managed Loan as the bank then offered me no other solution despite just graduating and getting a job?

I don't think I have had any charges put on the loan but it is certainly high interest and a loan that I never wanted in the first place.

 

Smel

HSBC *WON* Total £3500

Capital One *WON* Total £385 plus removal of default

Next Disputing Default Notice - CRA's were very unhelpful, am going to make a complaint to OFT/FSA and considering court action following this.

For the Husband:

NatWest Current Account *WON* Total £3500 plus removal of default

Yes Car Credit PPI Posting SAR and first letter this week...

Next up...

HFC Loan - PPI

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Just a quick note to Speedy and Smel.

Your bank will confirm the rate of your loan interest but bear in mind you should only claim for interest that relate to that element of the loan that was for bank

charges not all the interest.

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This is the whole point that i started this thread. Due you reckon there might be some way that someone can actually work out that when you took these loans out that was to maybe put a halt to being charged every month, the loan would of consisted of charges that you would of had and not the bank. This loan has had interest put ontop, but again you wouldnt of maybe needed the loan if you hadnt been charged all the charges. Then to top it off further down the line they end up putting you on a Managed Loan which once again consisted of the loan from the first place (Which more than likely was a propotion of charges and interest) to now interests piled ontop from the Managed Loan.

 

If someone decides to figure out how much interest they have paid between the loan and then also the Managed loan where these two loans comprised of Charges to how much they actually owed the bank and where this probably wouldnt have happened in the first place if they hadnt taken these charges.

 

Does that make sense ? lol

If you find this info useful please click on the scales in the bottom left corner of the thread :wink:

 

Vodafone To Remove Default Notices thread

Paid In Full HSBC Was Claiming £3851.42 But Instead of Paying Me Decided to pay my £4900 Loan OffDG Solictors. Need Help

Concluded Lloyds TSB 27/05/2006 Action Against LloydsTSB

Concluded Lloyds TSB for Girlfriend. 27/05/2006

Paid In Full Capital One £160 Settled

Paid In Full Capital One Sent 15/05/06 for £1372 for Girlfriend

Paid In Full Cetelem £130 Settled

Paid In Full The AA £400 Settled

Paid In Full First National £160 Settled

PDA LloydsTsb Credit Card Hand Delivered 26/04/06 £180

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This is the whole point that i started this thread. Due you reckon there might be some way that someone can actually work out that when you took these loans out that was to maybe put a halt to being charged every month, the loan would of consisted of charges that you would of had and not the bank. This loan has had interest put ontop, but again you wouldnt of maybe needed the loan if you hadnt been charged all the charges. Then to top it off further down the line they end up putting you on a Managed Loan which once again consisted of the loan from the first place (Which more than likely was a propotion of charges and interest) to now interests piled ontop from the Managed Loan.

 

If someone decides to figure out how much interest they have paid between the loan and then also the Managed loan where these two loans comprised of Charges to how much they actually owed the bank and where this probably wouldn't have happened in the first place if they hadn't taken these charges.

 

Does that make sense ? lol

 

it makes sense ..but i aint the man to work it out !

Maybe a better man than me can .?

 

seriously ... I would love to be able to get HSBC for putting me on a managed loan .......

Any help would be appreciated ...thx

Mac

HSBC £968

22/6/06 prelim SENT

5/7/06 request for charges RECEIVED

6/7/06 lba+charges SENT

21/7/06 offer of £850 RECEIVED

24/7/06 LETTER SENT accepting offer on condition it is repaid by cheque(as requested in lba) or will continue for full amount+int+cost.

02/08/06 CHEQUE RECEIVED :D

MY THREAD http://www.consumeractiongroup.co.uk/forum/hsbc-bank/11708-mac-hsbc.html

 

:D tommorows just another day..........:D

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Just wondering that if the bank put someone on a managed loan due to an overdraft caused by unlawful charges could it be said that by their unlawful actions the banks have applied duress if so then a contract signed under duress is unenforcable isnt it ?

HTH (Hope This Helps) RDM2006

 

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Hi,

 

I have never used this website before so I am not quite sure how it works. I guess I just tell my story!

 

My husband and I had a thriving business 2 years ago (public house). The brewery offered us a second pub to add to our profile. At this point we had a personal loan of £15000 with HSBC, a M/Card with a limit of £8000 and a healthy personal and business bank account.

 

We then asked to borrow £20,000 from HSBC in the form of a small business loan. They agreed to £10,000 and a £3000 O/Draft on our business account.

 

So in total we owed them £28,000 (unsecured). We took on this second pub and unforunately the business didn't do what we all thought it would. (The brewery and HSBC had agreed with the business plan) This meant we just got further behind with payments and then got charged over and over again. We approached our business banking manager to help us but she said there was nothing she could do.

 

We ended up having to sell both pubs and now my husband and I along with our 3 children are living with parents, working very long hours to try and start repaying this debt. HSBC then consolidated everything into a managed loan. The debt is now standing at nearly £40,000.

 

I'm still not sure how any of this happened. We never had any assets to cover this loan and they were perfectly happy to lend us this money on an unsecured basis. Yes, we asked for the money but I wish they had now said no!

 

The repayments started at the beginning of august (approx £600 per month) but £1000 interest has already been added. The debt will never be repaid!

 

Vicky

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Greetings,

I have been on Incapacity for nearly 5yrs now, my bank has always known of my situation, to cover my charges, they where happy to extented me the privilege of a managed loan,

not once, not twice, but 3 times.

Each time saying "to help tide me over until I get back on my feet".

I now owe £10.000 for a £4.000 loan.

 

Pray tell me:

Was this the best assistance they could of given to someone in my position.

 

I am now in remission, I would now like to get my own back.

Where do I sign up? & Where do I start?

can someone come back to me.

 

Hence Thirdworlddebt

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I was offered a managed loan by HSBC back in Oct 2005 when I went in the bank requesting £10 out of my savings account so that I could put petrol in my car to get to work. I couldn't transfer this in to my current account as I was so overdrawn the money would have been swallowed. All HSBC were intrested in was offering me the managed load to pay off my o/d and my mastercard. It would have worked out over a 15 yr period at 12.9% intrest. I declined and then contacted CCCS. When cccs were trying to negotiate terms with HSBC on my debt managment plan HSBC again sent paperwork through for a managed loan again with 12.9% intrest. We ignored the paperwork and are now paying the overdraft back and credit cards with no intrest applied at all.

Data Protection letter sent 15/08/06

 

All statments received 29/08/06 total £3950.50 2 accounts

 

Prelim approach sent 30/08/06 - for both accounts

 

LBA sent for both accounts 15/09/06

 

MCOL Filed for both accounts 05/10/06

 

MCOL Acknowledged 12/10/06

 

Letter Received req breakdown of charges 28/10/06

 

Letter Sent with breakdown of charges 28/10/06

 

Letter received with full offer on the 01/11/06

 

Sent letter back accepting offer and crossing confidential agreement out 01/11/06

:razz: :razz: :razz:

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Not sure if we are the first but HSBC have settled our claim (or agreed to) which includes the interest on the managed loan :)

REFUNDED

Hubbys - HSBC £4,165 paid 18/8 after MCOL issued :)

HSBC - £651 paid 18/8 after MCOL issued :)

HSBC - £147 Prel 7/8, LBA 21/8, MCOL 6/9 £241

Hubby Halifax - Prel 29/7 £215, LBA 21/8, Offer rec. £110 22/8, MCOL 6/9 £298

Abbey - £2758 - Prel 26/6, LBA 10/7 - MCOL 26/7 £3,391, offer 25/8 £1,755.94, paid £3567.32 after Case manag hearing

Barclays - £675 Prel7/8, LBA 21/8, offer received £300 MCOL 6/9 £998 - Paid £1,012 before going to Court

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I should a reply to my LBA by Thursday!

 

Ive claimed all my charges, plus the interest on the managed loan that I wouldnt have had to pay had my charges not be in the loan! :D

 

I wonder what response i'll get!

Matt

 

___________________________

 

HSBC - Received an offer... sent LBA.

Aktiv Kapital - Referring me to GE......

GE Capital - Completely Ignoring Me...

Orange - Send s.10 DPA letter! :D

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Matt I doubt they will say anything, they didn't with us, I just hope more people claim the loan interest if they felt they were forced into the loans through the charges.

REFUNDED

Hubbys - HSBC £4,165 paid 18/8 after MCOL issued :)

HSBC - £651 paid 18/8 after MCOL issued :)

HSBC - £147 Prel 7/8, LBA 21/8, MCOL 6/9 £241

Hubby Halifax - Prel 29/7 £215, LBA 21/8, Offer rec. £110 22/8, MCOL 6/9 £298

Abbey - £2758 - Prel 26/6, LBA 10/7 - MCOL 26/7 £3,391, offer 25/8 £1,755.94, paid £3567.32 after Case manag hearing

Barclays - £675 Prel7/8, LBA 21/8, offer received £300 MCOL 6/9 £998 - Paid £1,012 before going to Court

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heh - I was tempted to claim the whole loan, but I knew they'd start questioning that and I just want the money Im owed now ;)

Matt

 

___________________________

 

HSBC - Received an offer... sent LBA.

Aktiv Kapital - Referring me to GE......

GE Capital - Completely Ignoring Me...

Orange - Send s.10 DPA letter! :D

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Matt I doubt they will say anything, they didn't with us, I just hope more people claim the loan interest if they felt they were forced into the loans through the charges.

 

have you finished paying the loan - i'm in the same situation but only a quater way throught my agreement with HSBC, they told me unless i could pay off the £400 i owed them (over half in charges) then i had to take my credit card and £1000 interest free overdraft and the £400 unautherised overdraft and covert them into a managed loan and lose all facilities i.e. debit cards etc

 

I'm going to claim back the charges over the whole account life - this is maybe £500 but want to claim all the interest too - am i right in thinking that i can only claim what they have charged to date...i guess then i could use my claim money to pay off the loan before more interest is added or continue to pay and claim again once its paid off...in 4 years!

People who haven't made mistakes, haven't made anything!

 

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