I recently sent away to EXPERIAN for my credit report and found i had a default from welcome finance year 02, now this amazes me as what im about to tell you is the gospel. towards the end of my contract i also decided to try and settle early and asked for my statements and early settlement figure, it came back as £325 left to pay, when i went through the statements i was shocked at what i found the contract stated at the end of each calender month interest would be calculated at 5% of the remaining balance yet when i went through the statement i found my interest payments each month were anything from 6% up to 9%. I arranged a meeting with the manager and asked him why this was, he couldnt see what i was telling him and i said right heres an example at the end of June the balance was exactly £1000.00 so i said 5% is £50 you have charged me £72 odds and every month they were all different percentages, he again said I DONT KNOW WHAT YOU MEAN, i must admit it got my blood boiling and i slammed down a calculator on his desk and said you tell me what 5% of £1000.00 is, what i couldnt understand is that every month it was different, and as you's know as soon as the first one is wrong then the rest follow suit, eventually he asked what i worked out was owed and i provided statements i had worked on calculating 5% interest as per agreement and said you actually owe me £208.00 Now i got a cheque for that amount exactly with no further questions asked that day and the account he said would be marked up as settled. It was only last week i found the default from them, cheeky bar_stewards. I will be going for these edit, edit edit at some point soon, cant believe what they have done im soooooo angry. Moderator Note: EDITED due to libelous wording.

I would think this could lead to probs as it wouldnt show your electoral roll at that address either, maybe im wrong though,has been known,lol.

Good luck, not that youlll need it.

cheek, go get em, good luck

Ive heard this applies only to loans that are still active (money owing) and not fully paid up accounts, what about loans that are unsettled but defaulted some time ago?

Caro i have been reading your posts with interest (no pun intended) Id agree with what your saying, they have had past opportunities to settle and didnt so that is down to them, like there charges, they showed no mercy in giving out charges and interest and so should we, REVENGE IS SWEET. Good luck not that you will need it.

The money your claiming rightfully belongs to you and the banks know it,not long now till payday, go get em Mel5.

Had your usual weve done nothing wrong letter in reply to your prelim yet Davg?

Got a reply today saying they have reopened my complaint and a further review is being undertaken saying they will respond within 28 days from when they received my LBA dated 15th August. sent prelim letter-----bank said done nothing wrong sent LBA ------------bank now want 28 days to reply They will get 14 days like the prelim letter gave them, they now have 7 days left.

gl mickeyscott all the info you need is there.

Keep at em davg, never said would investigate mine just reitterated that they had done nothing wrong,YEAH RIGHT just pay it back.

Quick update folks, asked for my money back oh so nicely and guess what, they havent done anything wrong and wont be returning any charges. So now sent my LBA dated 16th Aug. Dont mind the wait, lets see how they like the boot on the other foot now.

if 1 in 10 accept half the amounts due then the bank justifies this tactic. Thay will pay up full.

Yes they do put up a good fight right enough, in the end its all the same,PAY UP.

Hi davg im also with Clydesdale and i sent my prelim letter away today and that included the £22.50 service charges and the interest payments taken every month, usuallually under £6 but there charges put me there, claim it all m8, keep in touch as we aree at the same stage now,gl.

Heres a question i havent heard before and was just wondering if anyone knew the answer. If the banks now know they are charging too much as per the ruling (not to profit), then why are they still charging these fees, If they thought they were perfectly legal before this ruling then they now know they arent so they are knowingly breaking the law and whats happening, dont get me wrong getting your money back is great but shouldnt someone (chief exec,etc) be hauled over the coals for the continued flouting of this ruling, that id pay to see.

After reading a lot of posts and getting the information required I sent my DPA with £10 to the clydesdale head office on the 1st july truly expecting no end of hassle due to what I have previously read. Within one week I got a reply saying they dont have to provide proof of manual intervention under the DPA but will provide all statements required. Then on the 25th July I got all my statements, now ready to ask for my money back, (over £2000) will send this during next week, and eagerly await there reply.

Good luck David I sent away my DPA to Clydesdale at the start of July and now have my statements no problem, seem to have improved now as to what id read regarding there past performances.Keep us imformed

Not long joined but wish you all the best for the future.

HI all ive sent my first letter and £10 postal order to clydesdale bank on 7th july and got a reply on the 12th july saying they will provide all statements from account but not details of manual intervention as this is not required under the data protection act, yeah ok but they will if they go to court, either way im gonna gun em down, keep ya posted, off to spain tomm yipee.