Clydesdale bank personal loan - help

[grumpybutgorgeous]

Hi Guys,

 

Need some help urgently..... I got a personal loan from the above bank over 2 years ago, it was to do major home improvements at the house i share with my hubby. Paying every month without fail, but started to struggle when my husband got made redundant and i had to take take over all the bill paying. I approached my bank manager to ask if they would consider taking a reduced payment till we got back on our feet, but they wouldn't accept that, and told me to get advice regarding debt, so i did. I approached Payplan (one of the banks suggestions), and they negotiated with the bank to take a payment of £127.00 per month instead of the £241.00. I was really relieved by this, and its made things easier with my hubby still not working. But the bank have sent me a statement of account and and i'm now in a worse position than ever. I gave Payplan the oustanding balance of the loan, they did say that interest would not be frozen, but the bank is adding almost £200 per month to the loan and i owe more now than this time last year when i was paying the loan as agreed. I'm really scared about this, i spoke to payplan and they said they couldn't help. What can i do.

 

Grumpy

[caro]

Is it definitely a loan and not an overdraft? What does the statement of account say the charges are for?