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Bank loan
topsales
Posts: 351 Forumite
A friend of mine had bank loans totalling about £12000. he cashed in an investment - at a great loss as the bank had passed the debts to their collections dept (long story). Two of the loan payments show up on his statement - having been paid out of his current account. he has memory problems and can't remember how he paid the other debt but no longer has the money so insists he did. he also has a letter form the bank thanking him for paying IN FULL all of his debts.
This was in the summer - the bank are now saying that one of the loans is ongoing - have taken 5 months payments from his current account, leaving him broke, and are demanding repayment of the rest (I think about £2500). How on earth does he stand on this?
This was in the summer - the bank are now saying that one of the loans is ongoing - have taken 5 months payments from his current account, leaving him broke, and are demanding repayment of the rest (I think about £2500). How on earth does he stand on this?
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Comments
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I would suggest he rings Citizen's Advice for the best way forward. If he has a letter from the bank thanking him for full and complete payments, this is a good thing. It seems quite complicated, so ringing the CAB is my only advice I'm afraid.
Hope it works out for him. He's lucky to have such a good friend who cares.Lightbulb moment - October 2005
Debt at highest - £97,000 :eek:
Debt now (15/06/07) - £83,908.47 (still :eek: but every little helps!)
Debtfree Date - 2015 (but working on it)!
2007 Comp Challenge - £360/£0 (I have no luck with winning!)0
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