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  1. Hi Everyone, I haven't been on the site recently but i have a question in relation to MBNA and reclaiming, etc I sent MBNA a SAR request, which arrived last week, but looking at the statements, there are a number of charges and interest payments that i don't understand, i hope somebody will tell me what these are and what exactly i can claim back. The payments that are taken are Special Cash Interest Posted Cash Advance Interest Posted Retail Interest These payments were taken every month and each month totalled around £60 There was one other payment that also got taken each month, Posted Credit Insurance fee, that appeared on the statements for about three months and then disappeared. Can i claim all these payments back or is it just the ppi fees and the other excessive fees associated. Cheers cuzznx
  2. I wonder if anyone can help I brought a laptop on buy now pay later for £399, which was up in july. I havent recieved a final statement, just a statment through saying that my paymnet was due on the 12th of July and here, have some interest of £154!!!!!! After ringing them, they have basically told me tough, i can send a letter in if i like, i should of rung them??? ( I have been waiting for the final statment) They will not remove the interest...................... is there anything i can do, this seems like over the top bully tatics to me
  3. Hi, being new to the forum I hope I am not opening a thread that has been dealt with before. Anyway, I used a PPI claims company to submit a claim to Lloyds on my behalf for PPI repayment. they were very good and managed to secure a total of over £8000 including interest. Under their terms of business, I was to pay them a no win no fee, fee of 12.5% of monies reclaimed plus VAt. I have no problem with that and agree I signed a contract to this effect and am happy to pay them. However, they have charged me a fee on the simple interest paid by Lloyds, as required by the FSO, on the monies reclaimed. My contention is that the monies the company obtained for me do not included the interest as that is interest on the monies they obtained and not actual monies obtained. Does this make sense? am I barking up the wrong tree? i just don;t see how interest can be classed as monies obtained when it the bank was legally obliged to pay it.
  4. I received an offer from CapitalOne for £6185 This was made up from £3050 in premiums, £2370 in interest and £958 in further 8% interest. Putting all the premiums into a compound interest calculator resulted in compound interest of £13,000 Am I correct to use compound interest in my calculations? The £958 in 8% interest .. where does that come from? What is it 8% of? I was told on the phone that it is 8% of the amount I would have saved if I had not had the PPI. Should I not also be receiving that amount I would have saved (which comes to the amount of compound interest). The PPI was on a credit card which ran from April 2004 to October 2012.
  5. Hello All, A quick question... My partner successfully claimed the majority of her bank charges with HSBC back in 2011. They owed her roughly £4,000 in excessive charges from 2006 to 2010. Of course she was not aware of the 8% interest she could of got on top until now (reading threads on these fantastic forums!) She has since ditched all paperwork relating to this since she accepted her pay out (which was about £400 less than her final figure) Can she still put in another claim to receive this interest back too? As she was never aware of this at the time. If so, would she have to go through the whole process again seeing that she no longer has the paperwork, including that which detailed her receiving the successful pay out? Thank you for your help! Regards Wulfen40
  6. Good evening all, My Father held three accounts at Nationwide. After his recent death, I visited the local branch to notify them and to take a death certificate by way of notification. I have to apply for probate, but in the months this may take, Nationwide quite appropriately freeze the accounts. When I asked what happened to the interest on the frozen accounts, the Nationwide person said they retain the interest; as the accounts are now frozen, they do not accrue interest any longer. I have 2 questions for anyone able to help: 1. Is this correct? 2. Why is it correct (if so). Surely the interest gained whilst I go through the probate process should be added to the account, not be used to swell the Nationwide coffers. Appreciate any advice. Regards
  7. Hello! I went to court with my neighbour over a land dispute. I had to withdraw from the trial because I am deaf and the audio loop wasn't working, but the Judge refused to adjourn... This is probably a whole other area, however, the neighbour was awarded costs of £23k and has now placed an Interim Charging Order on our jointly mortgaged house. My husband is not the debtor. I want to know if I can argue that the Award is unfair, not just because of what happened in court, but also because it includes a 100% success fee, which I feel they are not entitled to because I did not receive the Part 36 Offer which the neighbour's lawyers said they sent to me prior to trial. They are unable to prove I received it as they only sent by first class post. The hearing to decide whether the Charging Order is to be made final is in August, and I wonder if anyone can advise what I should do if I wish to object to the award for costs. My husband will object to the Charging Order. What argument should he provide, please? There is little equity in the property, as there is a lot of work which needs doing, including subsidence. The Judge was biased and failed to adjourn when it was discovered that the Audio Loop necessary for me to participate in the Trial, was not working. He instructed the room to shout and speak slowly for my benefit. None did as they were all the opponents witnesses. All of what they said under cross examination was of no consequence. I entered into litigation after much studying, and was confident of success. What went wrong? I am now being taken to court by my opponent for his costs.. £23k.. He is trying for a Charging Order, too.
  8. I lost an appeal in November last year and costs were applied £750 - I appealed and this hearing was heard within another hearing Civil Case on Jan 4th 2014 - The Judge awarded the claimant £7,123 - off which £5,000 of this was costs. He mentioned something about only allowing certain sum of costs. I could not pay - single parent on benefits and offered £5 a month - this was refused so I applied for a redetermination hearing which was heard in March 2014. I informed Judge I had a caravan old tower 1997 that I could sell worth about 2k. Advertised on 8 sites including Ebay and no interest. Went back to court on Monday 23rd June to update situation and offered £25 a month (payable by my BF) this was again rejected - again given another 3 months to sell caravan then other party intends to get a high court writ. The upshot is unbeknown to me this debt has gone up - I thought the £750 for previous hearing was already added to final judgement of £7, 123 - the other party have now added interest and further costs on both amounts. I managed to sell some furniture and jewellery and paid £1,000 in April - thinking the debt was now £6,123 but the debt has now increased to £7,300 thereabouts. Impossible situation. My question would be - how do I query this £750 additional ? no mention of this in the final judgement so assumed £5,000 in costs was total. Can I question the interest side of things? if I managed ( family member) to pay off some and get it under the £5,000 does interest cease? The Judge mentioned any debt over £5,000 interest becomes payable. So would it be worth my while loaning the funds from a family member. Thank you for your help in this matter it is all very confusing.
  9. I have been a mature student in the past and attended at least two different Universities - one in 1999 and another in 2002. Neither courses were completed for reasons to do with past childhood abuse trauma that has impacted upon my adult life to an extent I never imagined possible, and has affected job prospects as well as integral self-esteem about achieving a career of somekind. I have recently received a shocking student loan statement, that shows how much I owe in terms of past student debts, and the interest that is being wacked on each year - despite the fact that I am not in work and - in receipt of vital disability benefits due to my mental health conditions. The statements are not requests for repayment of the loans, yet, I am wanting to find out if there is any possible action I can take about having the loans written off, and especially in view of the fact, that it is doubtful that at 41, I will unlikely be in a well-salaried job. I understand completely that the vast majority of students will incur debt via having taken out student loans in their time; yet in all honesty, these people will not be in the kind of vulnerable-adult situation that I face - I also live in long-term supported housing. I also understand that unless you are earning a salary as low as £15'000 per year or whatever it is now, you only pay a minimum back. Yet what I am trying to establish, is the fact that former students should not be made to ever repay loans if their personal situation is exceptional as mine is and will be for some time. I am positive that I can get these loans written off, as they can and do in the United States, here in the UK. I am not wanting morally charged answers to my question, just someone who may be able to offer me helpful advice.
  10. As the title says. Just been to renew my pawn shop loan (gold chains) and for the first time in years at least 5 been a customer they have changed the contract and raised the interest on me. Never in 5 years has this happened, the contract is just renewed with the same terms as the original but this time they have increased the interest. I had no choice but to sign as otherwise I would have lost my gold in 2 days. Can they change the contract on me like this making me pay out more each month in interest. Interest on the original loan was set at £12.50 and now its gone up to £13.89, While its not much it all adds up over the 6 months. Anyone any ideas if this can be classed as unfair terms so I can raise the matter with the fos. My wife and I do have quite a few pledges with the same company and if this is going to happen all the time we will never be able to afford to get the gold out. Regards George
  11. Hello everyone - I hope you can help, I’ve been reading through the forum but couldn’t find answer, I have a catalogue account with very opened 2011 - I went into arrears at the end of 2012 - I’m not to sure what my balance was including interest but I know it was over £2000 - I did the usual thing burying head in the sand act - then I received a few letters from NDR and I set up a payment plan Feb 2013 to pay them £105 per month. This was on the premise that they (NDR) will be freezing interest on my account and I would be making regular payments - I have been making regular payments for just over a year now - and just received my statement for the month saying I still owe them well over 1300 and need to make a minimum payment of £647 - on closer inspection I noticed that I have been charged interest every month - after interest was suppose to be frozen - It’s completely my fault for stupidly not looking at my statements and happily paying this every month! But I’ve gone into my very account and have a look at NDR statements from July 2013 and it looks like I have been charged between £40 - £60 every time I have paid them. Is this right since they agreed to freeze my interest ( I don’t have anything in writing) when I initially set up a payment plan. Is there anyway I can claim this back? Also when settling the debt would I am able t negotiating an amount to completely satisfy thee debt? Apologies f its a stupid question - I just feel so silly for trusting these people and not checking my account was fine when this was put in place Thank you in advance for you help
  12. Hi all. Looking for some advice please : After reading a little on the reclaiming of various fee's / charges I wanted to find out more about this matter. Looked into my mortgage paperwork and noticed that during the past few years the Broker has been paid over £3,000 and £4,000 for arrange a mortgage of £200,000 and that the rates are not high street rates eventhough my credit rating is very very good. Can you reclaim the fee's paid to Brokers and can you dispute the interest rate that the Mortgage Company is charging ? I am understanding that had a High street lender provided the mortgages the arrangement fee would be approx £400 and the monthly payment would be at least 30% less. Regretting not looking into this further at the start. Any info would be great - Thank you Forum.
  13. Hello CAG I'd be so grateful if anyone could look at the spreadsheet and advise whether I've worked out the interest correctly? Santander have made me an offer. Now I've got the breakdown, if I agree with their methodology, I get to about the same figure. While I'd love to hold out for the compound interest am not sure that I'll get it and talking to the Ombudsman it can take 2 years for them even to look at whether the redress has been correctly calculated, quite apart from the fact that they don't seem to support compound interest. I don't have time/money to go to court at the moment and badly need the funds in my account right now. Are there any other arguments I can use that would be accepted by the bank and supported by the Ombudsman? Thank you so much for any help. Pinny
  14. Hi there, Looking for a little advise if possible please. We took out a loan many years ago 2004 roughly for 35000. We would like to sell our home and have a potential offer for the house we'd like to accept. However.. We thought we would be able to cover the costs with the sale as first plus said we only had 11300 (roughly) outstanding.. This took a while to even get as they kept sending us to Evershed and then evershed would say not us go to first plus.. Very annoying. . They said that it was minus interest but the total figure cam in today just say £29,689.07 which makes the interest near 20000 to settle early.. ?? There was no breakdown and figure cam from evershed and not first plus whom I ask for the settlement amount. Question does this seem ridiculously high? Can I go back to evershed and say please be sensible we all want our money and can we come to a better arrangement, Not got the contact to hand right now but can dig out if there is anything else you needed to help me out. Please help as I really want to clear and move out of current house for fresh start with my family.. There is money in the house, main problem I need that as deposit for new place...
  15. Hi Folks Quick one... Say I'm due to make a payment on a loan and I miss it, Naturally that would be a payment missed etc... However, does the company then have the right to attempt to take payment at the end of the loan agreement and add a 2nd amount of interest even though the first payment had interest added to the original balance? essentially doubling the interest on one payment?!?! Eg in this case for me; If you dont get it then i will try to explain better but Im soooooo confused right now :/
  16. Continued from here.... http://www.consumeractiongroup.co.uk/forum/showthread.php?398262-The-great-interest-rate-rip-off-part-9
  17. Hi there I'm currently going through a repossession process with FP & seeking advice on here via another forum As an aside, when I contacted FP for a redemption figure the amount had jumped loads higher than had previously been quoted on letters etc & after querying it I was advised that it is because they had decided , without advising me, to freeze the interest nearly 3 years ago & now there is about £7000 to add back onto the redemption figure! This is the first I've heard about it & certainly had no idea the figures being quoted on other correspondence where this much out of synch with the real balance. Is there anything I can do about this? I've already raised a formal complaint about it but so far the answers have been somewhat vague Also, can FP still proceed with repossession (under a suspended PO) whilst a complaint is outstanding? many thanks in advance for your help
  18. Not sure if already posted but I believe this is good news for debtors all round http://www.oft.gov.uk/news-and-updates/press/2014/18-14
  19. Please take a look at this Credit Agreement and help My problem is that a. I do not have the bank statements from that period of time and am unsure if I paid the PPI or not. b. Am worried that a PPI complaint and an FOS Questionnaire from my side can backfire if the loan was settled before PPI kicked in. Could the lender in that case take me to court? Or is it looked at as human error. What are my odds and options? Thanks. Autumn
  20. I dont think this is a problem but I would be interested if someone could perhaps explain this to me. I took out a VW Finance HP Agreement for a car in 2010 over 5 years and have been paying this off absolutely fine for the last 4 years. When I received my annual statement the first page showed: Start of Agreement Duration of Agreement Amount of Credit Rate of Interest (Fixed) Screen shot attached. It is this last point which has me puzzled as the rate of interest is shown as 0.00% which i find as strange as I am obviously paying interest on my HP finance. Any ideas?
  21. does the credit card apllication have to have the account number on it and if it is wrong make it unenforcible
  22. Hi, Just a quick question. I have an account with JD Williams and today had a letter from them that from February the APR is going up at 10%. Can you reject the rise and carry on paying what I owe as long as I don't order anything else. Thanks for your time JJ
  23. Can anyone tell me what interest rate credit card companies charge on late payment fee's etc. Is it the card rate or the cash rate? thanks in advance
  24. Does anyone have any experience of this? I have a sub-prime mortgage with Accord and since I came off their fixed rate initial special offer my interest rate has gone up three times - this during a period when base rate has been 0.5%. I now pay almost 8% but of course as I have struggled with the repayments, no other lender would touch me. The Financial Conduct Authority have now said they are going to be looking very closely at lenders who do this to 'trapped' borrowers while base rate stays so low. I have long thought how grossly unfair it is to continually put rates up when there is nothing trapped borrowers can do. Has anyone else had this experience? Accord tell me it is because I am a 'risk' but since I have a large amount of equity in my house I don't see how I am any more of a risk than anyone else. They can always get their money if I stop paying -meanwhile they have nearly an 8% return on their money - where else would they get that?? It would be good to compare notes in case the lenders in question don't take the very big hint the FCA are making!!
  25. Hello everyone, I would be very grateful for a answer to my query. I had a current account with RBS in which there was no overdraft or credit facilities. There where some bounced direct debits for which they applied charges etc and bought the balance to over £400. For the above they have placed a default on my credit file. Can please someone advice me if they are allowed to do this, are the charges legal or can I fight this to get it removed.
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