I'm going through the process of complaining about the Rule of 78 with the RBoS.
They have told me that the formula is iaw CCA 1974, however there is no formula in there (or have I missed it),
The formula is actually contained in the Consumer Agreements(Early Settlement) Regulation 1983.
Now if this is the case and I signed my agreement to be governed by the CCA 1974, surely they should have specified in the terms and conditions of my loan what formula would be used in the event of an early settlement, which they haven't.
Anyone had any success getting them to drop the rule of 78 and is the formula contained in the CCA 1974?