Omg!!!!!

JGWT8M

Jolinar wrote:

Same thing happened to me at the beginning of my DMP, £4000 overnight from northern rock. They added the interest upfront which I would have had to pay had I carried on with the regular payments. CCCS told me it's their legal right to do so as per the credit agreement. At the time I was feeling pretty much the same as you, now however I'd rather that than the nasty little surprises the CC and OD people are doing to me every month.

Good luck

I think you can technically challenge this if it ever goes to Court.
You admit the actual amount outstanding and dispute the interest charge as not being correctly levied, not really sure but there's someone else on here who got a collection charge and some interest removed this way.

I think the argument would go something like the oustanding balance isn't disputed but the additional charges are due to them being levied now, rather than added at the correct times over the period of the loan.