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Re: Help with bank loan difficulties
Hiya Labman, Here goes
4th Jan 99 Co-op bank personal loan number 4 part of which paid off loan number 3
12th May 00 could not make my payment of £253.01 which resulted in me going O/D for the same amount
12th June 00 made payment but still O/D by £253.01
21st June 00 incurred charges of Debit interest £4.78 plus Service charge £10 plus daily excess charge £73.50 Is this charge in line with their T&C's? Account now £341.29 O/D told bank I was having difficulties due to reduction of income
12th July 00 payment due £253.01 A/C now £594.30 O/D
13th July 00 made payment. A/C now £341.29 O/D
14th July 00 IN FUNDS ADJUSTMENT £9476.65. This was the BALANCE OUTSTANDING ON MY LOAN Debit interest of £7.15 NOW I AM £9825.09O/D Have you asked them what legislation allowed them to do this, including Section, subsection and number?
31st July paid in £92. THIS WAS BENEFIT PAYMENT Were bank told you had been made unemployed? How did they respond?
21st Aug 00 interest £35.67
31st Aug paid in £92. B/P
21st Sept 00 interest £51.21
5th Oct TFR £2.20 ??? Don't know what this is Have you asked?
20th Oct00 interest £47.84
24th Oct 00 paid in £184. B/P Why was Sept and Oct's B/P rolled into one and not made as two separate payments. Clearly you didn't spend the Sept money as it was still available in Oct.
21st Nov 00 interest £46 17
30th Nov 00 paid in £92. B/P
21st Dec 00 interest £50.47
29th Dec 00 paid in £92 B/P
22nd Jan 01 interest £48.65
Stopped paying in benefit payments Why?
21st Feb 01 interest £48.53
21st Mar 01 interest £44.06
22nd Mar 01 AT LAST GOT INTEREST STOPPED and set up payment plan with bank collections dept it was £1 for 6 months Extended for another 6 months reviewed March 02 increased payments to£10.65 Did you point out that for 7 months you'd been charged interest while on benefits and this should have been stopped, therefore should be credited back to your account? Did you consider going to see CAB, or phoning Payplan etc....?
8thJuly 09 bank statement. Balance £8055.89.O/D
10th July .09 ACCOUNT CLOSED You have mentioned nothing about taking any action at all so far. Why was this? You must have been bombarded with letters during this period - have you got any of them at all?
ACCOUNT REVIEW every 6 months payments gradually increasing everything fine until 29th July 09 when I received a letter and payment card from FREDRICKSON said to phone them i did they said they had bought the account and wanted more money anyway they went on and on kept saying NO NOT POSSIBLE IT'S MORE THAN I'VE GOT COMING IN. What did the letter say, just to phone them? Were you not told Fred's had been assigned the account in any other way?
Then the DEFAULT appeared on CRA again dated 8/7/09 You've not mentioned there being a default registered previously. Did you receive DN's for the original default? Did you tell them you can only be defaulted once for any account? I asked them to give me all the paperwork for my account
22nd Dec 09 finally received copies of all my bank statements and agreements for loan numbers 1 2 and 3 but none for number 4 which is this one. The covering letter from FRED'S said find account documents provided by our clients Thought they had bought account I guess that answers my question about the assignment?
So I phoned the bank and asked what was going on they said FRED'S were only collecting the payments for them and just to stick to the arrangement that was in place , if I had any further problems to contact them and not FRED'S I asked why the DEFAULT had been put back on CRA. Said it was their error and would remove it and did
Everything going fine the out of the blue got a letter dated 6th March 13 from CABOT saying they have bought this account. On 11/1/13 You owe us £6989.87 existing payment arrangement remains in place continue to pay FRED'S DEFAULT BACK ON CREDIT FILE DATED 8/7/09FROM CABOT WITH MY DETAILS. AND SOMEONE ELSE'S ACCOUNT NUMBER. Phoned them said it says on and that final and ALL future queries were to be sent to FRED'S
O.K. THEN JOBSWORTH so sent CCA request to FRED'S on 19th June 13
26th June 13 FRED'S replied returning £1 payment FILE CLOSED RETURNED TO CLIENTS
1st July 13 sent CCA to CABOT
Got letter today dated 8th July 13 replied DON'T HAVE TO GIVE YOU ANY INFO and as for the NoA IT WAS SENT TO YOU on 27th FEB 13 and this is sufficient DID NOT RECIVE THIS
goes on to say YOU OWE US £6859.87 YOU HAVE 14DAYS TO CONTACT US TO SETTLE ACC. FAILURE TO DO SO WE WILL ESCALATE THIS WITHIN OUR PROCEDURES. THREAT?
Well I'm now raving mad so I phoned the bank and spoke to a very helpful lady
HAS MY ACCOUNT BEEN SOLD TO CABOT. YES BUT DON'T HAVE ALL DETAILS TO HAND
WHAT ABOUT THE DISPUTE I RAISED IT 2Yrs NOW AND I HAVE QUERIED THIS A FEW TIMES TOLD ITS IN HAND
YES IT'S LOGGED ON OUR SYSTEMS BUT WE CAN'T LOCATE YOUR LETTERS AT PRESENT CAN I SUGGEST THAT YOU SEND A SAR REQUEST. ASAP AND ASK FOR ALL INFO THAT WE HOLD ON YOU IF WE WORK TOGETHER WE CAN HOPEFULLY RESOLVE THIS. AS YOU MAY HAVE A CLAIM FOR REDRESS WE NEED TO FIND RESOLUTION BETWEEN US RATHER THAN REFERRING IT TO FOS ALTHOUGH THAT OPTION WILL STILL BE AVAILABLE SHOULD THIS NOT BE TO SATISFACTION ????
HOPE AND PRAY THIS IS WHAT YOU WANTED. BEEN UP ALL NIGHT GOT RIGHT TO THE END AND LOST THE LOT HAD TO START AGAIN THANKING YOU
FORGOT THIS BIT HAVE YOU TRANSFERRED MY LOAN INTO MY CURRENT ACCOUNT AND MADE ME SERIOUSLY OVERDRAWN NO THAT'S NOT ALLOWED BUT DID TAKE £2.20 FROM AN OLD SAVINGS ACCOUNT AND PAID IT OFF YOUR BALANCE SAW THAT DIDN'T KNOW WHAT IT WAS
To be perfectly honest I would pass all of this to the FOS. It is such a catalogue of errors, it is really something they should be looking to sort out for you. The above raises more questions than you would ever be able to answer. It is a huge shame that you phoned as opposed to get things in writing, as that may well count against you.
I would be looking to contact the FOS though.
Hiya Labman, Here goes
4th Jan 99 Co-op bank personal loan number 4 part of which paid off loan number 3
12th May 00 could not make my payment of £253.01 which resulted in me going O/D for the same amount
12th June 00 made payment but still O/D by £253.01
21st June 00 incurred charges of Debit interest £4.78 plus Service charge £10 plus daily excess charge £73.50 Is this charge in line with their T&C's? Account now £341.29 O/D told bank I was having difficulties due to reduction of income
12th July 00 payment due £253.01 A/C now £594.30 O/D
13th July 00 made payment. A/C now £341.29 O/D
14th July 00 IN FUNDS ADJUSTMENT £9476.65. This was the BALANCE OUTSTANDING ON MY LOAN Debit interest of £7.15 NOW I AM £9825.09O/D Have you asked them what legislation allowed them to do this, including Section, subsection and number?
31st July paid in £92. THIS WAS BENEFIT PAYMENT Were bank told you had been made unemployed? How did they respond?
21st Aug 00 interest £35.67
31st Aug paid in £92. B/P
21st Sept 00 interest £51.21
5th Oct TFR £2.20 ??? Don't know what this is Have you asked?
20th Oct00 interest £47.84
24th Oct 00 paid in £184. B/P Why was Sept and Oct's B/P rolled into one and not made as two separate payments. Clearly you didn't spend the Sept money as it was still available in Oct.
21st Nov 00 interest £46 17
30th Nov 00 paid in £92. B/P
21st Dec 00 interest £50.47
29th Dec 00 paid in £92 B/P
22nd Jan 01 interest £48.65
Stopped paying in benefit payments Why?
21st Feb 01 interest £48.53
21st Mar 01 interest £44.06
22nd Mar 01 AT LAST GOT INTEREST STOPPED and set up payment plan with bank collections dept it was £1 for 6 months Extended for another 6 months reviewed March 02 increased payments to£10.65 Did you point out that for 7 months you'd been charged interest while on benefits and this should have been stopped, therefore should be credited back to your account? Did you consider going to see CAB, or phoning Payplan etc....?
8thJuly 09 bank statement. Balance £8055.89.O/D
10th July .09 ACCOUNT CLOSED You have mentioned nothing about taking any action at all so far. Why was this? You must have been bombarded with letters during this period - have you got any of them at all?
ACCOUNT REVIEW every 6 months payments gradually increasing everything fine until 29th July 09 when I received a letter and payment card from FREDRICKSON said to phone them i did they said they had bought the account and wanted more money anyway they went on and on kept saying NO NOT POSSIBLE IT'S MORE THAN I'VE GOT COMING IN. What did the letter say, just to phone them? Were you not told Fred's had been assigned the account in any other way?
Then the DEFAULT appeared on CRA again dated 8/7/09 You've not mentioned there being a default registered previously. Did you receive DN's for the original default? Did you tell them you can only be defaulted once for any account? I asked them to give me all the paperwork for my account
22nd Dec 09 finally received copies of all my bank statements and agreements for loan numbers 1 2 and 3 but none for number 4 which is this one. The covering letter from FRED'S said find account documents provided by our clients Thought they had bought account I guess that answers my question about the assignment?
So I phoned the bank and asked what was going on they said FRED'S were only collecting the payments for them and just to stick to the arrangement that was in place , if I had any further problems to contact them and not FRED'S I asked why the DEFAULT had been put back on CRA. Said it was their error and would remove it and did
Everything going fine the out of the blue got a letter dated 6th March 13 from CABOT saying they have bought this account. On 11/1/13 You owe us £6989.87 existing payment arrangement remains in place continue to pay FRED'S DEFAULT BACK ON CREDIT FILE DATED 8/7/09FROM CABOT WITH MY DETAILS. AND SOMEONE ELSE'S ACCOUNT NUMBER. Phoned them said it says on and that final and ALL future queries were to be sent to FRED'S
O.K. THEN JOBSWORTH so sent CCA request to FRED'S on 19th June 13
26th June 13 FRED'S replied returning £1 payment FILE CLOSED RETURNED TO CLIENTS
1st July 13 sent CCA to CABOT
Got letter today dated 8th July 13 replied DON'T HAVE TO GIVE YOU ANY INFO and as for the NoA IT WAS SENT TO YOU on 27th FEB 13 and this is sufficient DID NOT RECIVE THIS
goes on to say YOU OWE US £6859.87 YOU HAVE 14DAYS TO CONTACT US TO SETTLE ACC. FAILURE TO DO SO WE WILL ESCALATE THIS WITHIN OUR PROCEDURES. THREAT?
Well I'm now raving mad so I phoned the bank and spoke to a very helpful lady
HAS MY ACCOUNT BEEN SOLD TO CABOT. YES BUT DON'T HAVE ALL DETAILS TO HAND
WHAT ABOUT THE DISPUTE I RAISED IT 2Yrs NOW AND I HAVE QUERIED THIS A FEW TIMES TOLD ITS IN HAND
YES IT'S LOGGED ON OUR SYSTEMS BUT WE CAN'T LOCATE YOUR LETTERS AT PRESENT CAN I SUGGEST THAT YOU SEND A SAR REQUEST. ASAP AND ASK FOR ALL INFO THAT WE HOLD ON YOU IF WE WORK TOGETHER WE CAN HOPEFULLY RESOLVE THIS. AS YOU MAY HAVE A CLAIM FOR REDRESS WE NEED TO FIND RESOLUTION BETWEEN US RATHER THAN REFERRING IT TO FOS ALTHOUGH THAT OPTION WILL STILL BE AVAILABLE SHOULD THIS NOT BE TO SATISFACTION ????
HOPE AND PRAY THIS IS WHAT YOU WANTED. BEEN UP ALL NIGHT GOT RIGHT TO THE END AND LOST THE LOT HAD TO START AGAIN THANKING YOU
FORGOT THIS BIT HAVE YOU TRANSFERRED MY LOAN INTO MY CURRENT ACCOUNT AND MADE ME SERIOUSLY OVERDRAWN NO THAT'S NOT ALLOWED BUT DID TAKE £2.20 FROM AN OLD SAVINGS ACCOUNT AND PAID IT OFF YOUR BALANCE SAW THAT DIDN'T KNOW WHAT IT WAS
To be perfectly honest I would pass all of this to the FOS. It is such a catalogue of errors, it is really something they should be looking to sort out for you. The above raises more questions than you would ever be able to answer. It is a huge shame that you phoned as opposed to get things in writing, as that may well count against you.
I would be looking to contact the FOS though.
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