Just got a call from Halifax "RBoS" complaints, they only refunded ~£320 in interest for deprivation of funds, rather than the £411.81 from a late payment calculator. they then took 20% income tax from it, which they said I'd have to claim back from HMRC!!! form R40 I presume. So, only £250 refund for sitting on £10810 for 23 weeks!

Thanks, DX100UK, I got the initial money from them 10am this morning, I will suggest 8% as a figure to Halifax RBoS complaints. If/when I get the interest, I'll make a donation to the site!

I have done, but this doesn't answer my question. How much compensation should I expect for an £11k payment delayed 5 months? Also, please don't quote my message, it's directly above!!!

I got a shock letter on 11th May from H. mortgages, saying they owed me £10,810! I thought it was a mistake, as I'd slightly overpaid my mortgage (because I thought it was £10,600+) on 19/12/19 Needless, I sent the form in the post paid envelope same day, still nothing received by Friday 15th s I called them (again) and gave my bank details for the refund (again) including 26 in on the phone waiting to be answered, they said they'd action it IMMEDIATELY. still nothing returned by today, another 45min on the phone, and they finally told me it'd been sent by slowest available payment (3-5days) and should be with me by next Monday. Needless, I registered a complaint, said I want the 3.74% I was paying them for 13 years, plus daily compensation for the 22 weeks and 2 days delay! They've told me it'll take up to 8wks to handle the complaint.... opinions? how much a day can I claim?

Please note the date of default it was 2004, any changes in the law/rules since then don't apply to it.

Hi Peter, You're answering a post that was not by me, (arguing amongst yourselves) What I need to prove is that the default was not made legally under the '74 CCA. Then I can take NWB to the cleaners, which is something I'm sure you'll all be interested in!!! Update: Didn't discuss NWB much, because I'm paying them £6/m, they're not adding interest, or chasing it up (at all) More concerned about 2005 £12k5 charge against my house by IG Index, which would be £43k5 today (8%) & which may be the subject of a new thread!!!

So, as far as I see, you're not looking to help people here? Check Consumer Credit Act 1974 for definition of a default. as it happened between 1991 and 2006, the 1991 definition applies. http://www.legislation.gov.uk/ukpga/1974/39/part/VII/crossheading/default-notices/1991-02-01 I'll let you know if and when I find my original upheld complaint against NWB.

Well, I just spoke to a professional debt adviser this morning, and the definition of a default given here was wrong, it is defined in the Consumer Credit Act 1974 “As a general guide, [a default may be recorded] when you are 3 months in arrears, and normally by the time you are 6 months in arrears. There are exceptions to this which may result in a default being recorded at a later stage, such as secured or long term loans e.g. mortgages, or if the product operates in a more flexible way e.g. current accounts, student loans, home credit." I my case I wasn't even in 1 months' arrears, and so a default should not have been registered. I checked my credit record recently, and it seems to have disappeared, as did a CCJ which was over 6 years old. I have another meeting with the debt advisor at 4pm I'll let you know the outcome. dx

Thanks for for confidence, dx, but are you a litigation lawyer? I looking to build a good case, not for negativity. It may be that during the current economic coronavirus paranoia, a lot of default loans are likely to be written off be all kinds of banks... I just got £6k of CT written off by KuT council.

Hi DX, what I mean is 7x12m x £337 monthly PLP (PPI) payments would have been = £28,300 which would have paid off most of the loan, overdraft and interest. Because they defaulted (5/1/04) for no good reason (no outstanding payments) they added 7 years of interest UP FRONT, so made a £20k loan and £5k o/d into a £32k default.... Peter looked up the definition in a dictionary, but I think you're more correct, However, I need a couple of legal precedents before I can build a (successful) court case against them. As I said earlier this week I'll be searching through my filing cab for the upheld complaint, which is gold dust in this case, can you believe they offered me £100 compensation which I refused on principle!! Also, dear DX100uk, it is registered as a bank default on my credit record (for over 16 years) which is what stopped me buying 3 more 3-4-bed houses in New Malden London, in December 2007, for around £1.1M which would now be worth £2.3-2.5M (plus 12 years rental income at around £1500/m ea.) and you begin to see how this civil case could be £ 7 figures against NWB.

thanks Peter, that's helpful, I just hope it's the legal definition of default, because the relationship really hadn't broken down I have been paying £337 a month until that phone call and my payment wasn't even overdue, I was offering to pay them £200 a month because I had lost my job and I didn't even know what PPI was! I later found out that it covered me in just that situation and I could have just called loan insurance and made a claim there and then but NatWest had already defaulted it to the tune of £32k! 16 years later, I've been paying them £6 a month and they still think I owe them £11,000. I had add about 7 years of successful PPI claims with them, but it still didn't clear off the default, because they had added on 7 years interest upfront. Maybe now, you start to understand why I want to sue their asses! I also agree with you on the fact that the ppi underwrote the loan payments, can you please find a legal precedent to this so I can use against them?

well, you have a better experience with NatWest than I do, they defaulted my loan even though I was offering them £200 out of £337/month, to the tune of £32,000 adding on all the interest on top. They still think that I owe them £11,000 16 years later!

Dear uncle Bulgaria, I will ask them (loan insurance team) if they can provide a copy for 2003, but I think it's long shot! Ironically, I may still have the original loan paperwork in my filing cabinet (along with the upheld complaint, I hope!) so, will plow into the filing tomorrow, and let you know later this week! Thanks, Nigel.

to: dx100uk I lost my job, shortly after taking out the loan, my PLP (PPI) covered me for this instance, but when I told them, they didn't refer me to the loan insurance dept in Bristol (as they should have done) they defaulted the whole loan and my authorised overdraft!!! I understandable, want to take them to the cleaners. I can post the diary of events later, when I've detacted it.