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Interest on account in dispute??


Yanni
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I have been in dispute with my bank for several months now and they are still adding interest on to my account.

 

Is this correct? For some reason or other I'm of the belief that the account should be "frozen" until the matter (in the hands of the FOS) is resolved.

 

Am I right? And is there any regulation of any sort on this subject someone can direct me to?

 

I have searched various sites for some info on this but have drawn a blank.

 

Any help would be appreciated.

“It's not personal, Sonny. It's strictly business.”

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  • 4 weeks later...

The interest is only usually frozen if you are in default or a debt management company or organisation has become involved and have specifically contacted the bank on your behalf and frozen the interest.

 

Never assume anything with financial companies

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