Tweet
Hi
I am currently looking at claiming back my account fees as i believe I was mis-sold it.
I was told to open the fee paying account as I would stand a better chance of being accepted for a loan to pay off my business account overdraft that I had with them. This was in 2010, I did as they asked and then applied for the loan once my business closed a few months later. I was granted the loan which commenced as a separate loan account July 2011.
I have just recently changed the account to a current account.
What I would like some advice on is this:
Is this the only option that they could give me to pay it back? Could I not have entered into an agreement to pay it back without applying for a loan. Would the cost of running the business account been more than the 8.5% interest and charge for credit of £112 that I paid on the loan?
I'm wondering if I have been mis-advised purely to make more money from me even at a time when I was obviously not in a secure financial position.
If anyone has any thoughts or advice on this please let me know.
Thanks in advance
:tinysmile_grin_t:
I am currently looking at claiming back my account fees as i believe I was mis-sold it.
I was told to open the fee paying account as I would stand a better chance of being accepted for a loan to pay off my business account overdraft that I had with them. This was in 2010, I did as they asked and then applied for the loan once my business closed a few months later. I was granted the loan which commenced as a separate loan account July 2011.
I have just recently changed the account to a current account.
What I would like some advice on is this:
Is this the only option that they could give me to pay it back? Could I not have entered into an agreement to pay it back without applying for a loan. Would the cost of running the business account been more than the 8.5% interest and charge for credit of £112 that I paid on the loan?
I'm wondering if I have been mis-advised purely to make more money from me even at a time when I was obviously not in a secure financial position.
If anyone has any thoughts or advice on this please let me know.
Thanks in advance
:tinysmile_grin_t:
