Took out loan with insurance cancelled insurance but my apr went up!!!!

amasingh

What can i do guys??? basically here is the story i took a loan from Natwest the advisor told me i should have insurance as it means a better chance of getting the loan, so i did and he advised me to cancel within 14days. So after getting the loan i went into a branch and said i want to cancel my ppi they said no problem, so as soon as they did the lady in the bank said you interest rate will go up i complained but she said this is the final decision so put in a real hard situation i had to accept as i wasnt gettting a loan from else where. Now i recently went into the branch to change my address as i have moved house and they said we have changed it, good stuff like hell. For some reason i get my credit card statement to my new address and all my loan repayments to my old address where someone else is living now. So i kept getting phone calls from collections saying you need to pay the loan but every month i put the money in. To my disgust as i did not check my statement as they were going to the other house i was getting charged as i would pay but would miss the actually day of payment. Any cut the long story short i argued with them and they refunded my charges on the 6 th time of calling only to find out that the guy from collections said i was abusive and shut down all my accounts threatening me saying the baliffs to my old house as that the address i got. What shall i do? as i cant get a loan from else where can i claim the loan back as they have really stitched me up big time????????????HELP HELP

di3004

amasingh wrote: »

What can i do guys??? basically here is the story i took a loan from Natwest the advisor told me i should have insurance as it means a better chance of getting the loan, so i did and he advised me to cancel within 14days. So after getting the loan i went into a branch and said i want to cancel my ppi they said no problem, so as soon as they did the lady in the bank said you interest rate will go up i complained but she said this is the final decision so put in a real hard situation i had to accept as i wasnt gettting a loan from else where. Now i recently went into the branch to change my address as i have moved house and they said we have changed it, good stuff like hell. For some reason i get my credit card statement to my new address and all my loan repayments to my old address where someone else is living now. So i kept getting phone calls from collections saying you need to pay the loan but every month i put the money in. To my disgust as i did not check my statement as they were going to the other house i was getting charged as i would pay but would miss the actually day of payment. Any cut the long story short i argued with them and they refunded my charges on the 6 th time of calling only to find out that the guy from collections said i was abusive and shut down all my accounts threatening me saying the baliffs to my old house as that the address i got. What shall i do? as i cant get a loan from else where can i claim the loan back as they have really stitched me up big time????????????HELP HELP

Hello and welcome.

Sorry to hear of your issues here.
I would first of all write to them to complain about this and the way you've been treated here, and it seems you done the right thing in the first place of informing them of your changes etc.
Give them 8 weeks to resolve this and if they don't, write or contact the FOS.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Maybe someone else will also give some useful advice on this for you as well.

Good luck with this, please keep us posted.

GeorgeUK

Write an official letter of complaint to the head office and inform them that they can check all the calls from the collections department relating to your accounts.

Inform them that:
On setting up the loan, you were advised that you would be able to cancel the PPI without penalty within 14 days but found that this would result in an increased interest rate (Did you cancel the PPI?)
You had advised them numerous times that they had not completed your change of address update properly, which you believe to be a breach of the Data Protection Act as the data they were processing was incorrect.
Although you made payments to the account, due to their erroneoous data you were not getting your statements which resulted in the payments being late and you were charged.
When complaining, the collections department representative threatened not only to send bailiffs to your old address which you believe is a breach of the OFT debt collection guidelines but also had your accounts closed on the pretext that you were abusive which was untrue (was it?).

As such you are making an offical complaint and require them to look into each of the above before you take the complaint further with, but not limited to, the FSA, FOS, OFT and ICO.

(Financial Services Authority, Financial Ombudsman Service, Office of Fair Trading and Information Commissioners Office)

di3004

GeorgeUK wrote: »

Write an official letter of complaint to the head office and inform them that they can check all the calls from the collections department relating to your accounts.

Inform them that:
On setting up the loan, you were advised that you would be able to cancel the PPI without penalty within 14 days but found that this would result in an increased interest rate (Did you cancel the PPI?)
You had advised them numerous times that they had not completed your change of address update properly, which you believe to be a breach of the Data Protection Act as the data they were processing was incorrect.
Although you made payments to the account, due to their erroneoous data you were not getting your statements which resulted in the payments being late and you were charged.
When complaining, the collections department representative threatened not only to send bailiffs to your old address which you believe is a breach of the OFT debt collection guidelines but also had your accounts closed on the pretext that you were abusive which was untrue (was it?).

As such you are making an offical complaint and require them to look into each of the above before you take the complaint further with, but not limited to, the FSA, FOS, OFT and ICO.

(Financial Services Authority, Financial Ombudsman Service, Office of Fair Trading and Information Commissioners Office)

Brilliant advice.:T:T:beer:

amasingh

thanks guys for your help!! helps me a lot. what nice people thanks again

di3004

amasingh wrote: »

thanks guys for your help!! helps me a lot. what nice people thanks again

Your very welcome.;)