i recieved a loan i didnt ask for,

alfie10 · 18 November 2007 at 1:34PM

3 months ago i had 2 loans, one at 12k and one at 5k, i was advised to consolidate them, so i did so, leaving me with a total loan of 17k,

i later checked my account and found out i had been givin another 5k loan and had allready made a payment on the loan,(i have to admit at this stage, i very rarely check my bank account, and should check it a lot more often) as soon as i saw this loan i phoned the bank up and offered to pay it back, the bank admitted it was a admin error, but said i still had to pay interest on the loan, which i refused, they then took another payment out so i cancelled the direct debit, with the 2 payments i have made, i owe them 4,064.48p, but the bank say i owe them 4,375.00p,

i am refusing to pay interest on a loan i never asked for,

does anyone know where i stand in this situation?

also, i have moved out of the house the loan was addressed too, but havent moved into my new house yet, i have let the bank know this, and they want my current address , but i havent got one(im stopping with friends)

i phoned the bank several times and i get nowhere,they always say some one from complaints will phone me back, but they never do,i have now had the loan(that i dont want) for 3 months!!!!!

can anyone give me any advise please

many thanks

Alfie

zorber · 19 November 2007 at 2:35AM

Write to them and get it docummented in writing also make sure you tell them you are logging at your current address.
Also write to the financial offbudsman, if they admit its an admit error then you should have to pay a thing.

What bank is this with?

dunstonh · 19 November 2007 at 9:28AM

Also write to the financial offbudsman, if they admit its an admit error then you should have to pay a thing.

You cannot go to the FOS until your have excercised the complaints proceedure of the bank and reached deadlock.

Questions that immediatly come to mind are:

1 - Where is this extra £5k. Where did it go?
2 - Is it really an extra 5k or has the bank front loaded the interest on the balance (is the 5k an exact 5k would answer that as front loaded interest would be highly unlikely to be a round £5k)?
3 - If you are not satisfied, make sure you take the complaint to their customer relations and not at branch level.
4 - ask them to supply the signed agreements for the lending

Dont jump to any conclusions and dont be rude to the people handling the complaint. Give them a chance to resolve it or inform you of what has happened first. Going off all guns blazing to start with will not make the complaints handler sympathetic to your position.

The bank may not have returned your call yet because the telephone and address they hold for you is not valid.

i recieved a loan i didnt ask for,

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