We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Natwest Loan Interest, help needed!!!

calash
calash Posts: 3,566 Forumite
I won, I won, I won!
in Reclaim bank & credit card charges
8 years ago, I took out a loan with nat west for about 7k, after a few months we realised that we needed to do something about our debt and needed to go through the credit counselling services, which we need - as we had the nat west loan for a few months, they transferred the account over to this company and put all the interest on for the next 10 years - does anyone have any experience of trying to get back at least some of the interest back. I know I have left this really late but I was under the impression that cos it had go through to a different company, I couldn't do anything about it. I also don't know if I have any chance now with the banks being in such a state!!! Any advise would be much appreciated

Thanks

Comments

  • natweststaffmember
    natweststaffmember Posts: 12,063 Forumite
    calash wrote: »
    8 years ago, I took out a loan with nat west for about 7k, after a few months we realised that we needed to do something about our debt and needed to go through the credit counselling services, which we need - as we had the nat west loan for a few months, they transferred the account over to this company and put all the interest on for the next 10 years - does anyone have any experience of trying to get back at least some of the interest back. I know I have left this really late but I was under the impression that cos it had go through to a different company, I couldn't do anything about it. I also don't know if I have any chance now with the banks being in such a state!!! Any advise would be much appreciated

    Thanks
    I don't understand the question but if it about claiming loan interest then the answer is definitely no.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • esmerellda
    esmerellda Posts: 2,237 Forumite
    They have simply given the CCCS the total amount due under the loan under the original terms of your agreement. So the capital plus the interest you would have been paying over 10 years just lumped together so CCCS have the full figure.


    Assuming you mean CCCS...that is ?
    LegalBeagles
  • calash
    calash Posts: 3,566 Forumite
    I won, I won, I won!
    Yes, it is the CCCS, but I'm still none the wiser - sorry the question was is it worth trying to claim back some of the interest from nat west???
  • Edinburghlass_2
    Edinburghlass_2 Posts: 32,679 Forumite
    10,000 Posts Combo Breaker
    Post 2 still applies.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247K Work, Benefits & Business
  • 603.6K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture