Ridiculous charge for changing loan date

[Agerag]

Hi Everyone,

I hope someone can shed some light on this outrageous charge RBS are trying to pin on me please. I changed my loan date from 15th to 31st and RBS are saying that I have to make two full payments in one month, I changed this in June and I got a letter 2 weeks ago saying I was behind in my loan payments. I have paid all my actual loan payments no-one informed me that I would have to make 2 full payments in one month and as I say I was only made aware of this 2 weeks ago by a letter dated 7th august which I actually received on 11th August. I have phoned them continously stating how disgusted I am and have received no calls back just the same everytime I phone someone saying someone will phone me back and they dont this will affect my credit rating and I havent actually missed a loan payment. Can someone please give me some well needed advice as I'm at my wits end!!!!!! Thanks.

[teaboy2]

Re: Ridiculous charge for changing loan date

Check the terms and conditions of the loan agreement. If it does not say anything that allows them to demand to full payments in 1 month (which i doubt it will) then you need to send them a letter of serious dispute pointing out to them that no where in the loans terms and conditions does it allow for them to demand 2 full payments in 1 month in return for allowing you to change your monthly repayment date, especially when 1 monthly payment is all that is due on the month the repayment date is changed. Their will also be the issue of interest. e.g. if they expect you to pay 2 monthly payments in one month then the loan term will reduce by 1 month and therefore the interest on the loan would have to be reduced accordingly. Warn them that if they do not adhere to the loan agreement then you shall deem them inbreach of the agreement. Changing the payment date from the 15th of the month to the 31st of the month does not increase the loan amount by 1 addional month, therefore their is no need for the need to make 2 monthly payments in that month. To say it does is absurd and fraudulent under fraud by misrepresentation a criminal offence under the fraud act 2006.

[Agerag]

Re: Ridiculous charge for changing loan date

Thanks Teaboy,

I will wait until they phone, when they can be bothered!!!! to let me know the outcome of their investigations and I will state above and see what they say.

Regards.
Ann