Sold a refinanced loan HELP PLEASE!!

theo

hi, i took out a loan about 3 years ago but i had been badgered by RBS to refinance the loan even though i have never been overdrawn. Supidly i relented and one hour later a courier arived with the application and i sighed. Realising i would be paying more back for longer and had made a big mistake i rang back to cancel it. I eventually got a form for cancellation and handed it it in person to the branch obviously within the 14 days cooling off period.

The problem is now the bank say that although they can cancel the loan they cant go back to the original loan, that it has to be refinanced in someway. I have rang everyone i know inc. RBS headoffice but no-one seems to know if i can go back. I cant get a straight answer.

I have written a letter of complaint into the branch but wondered if there was anybody out there who could give me some knowledgble advice as to where i actually stand, so i know how to respond to RBS when they ring me this week.

thanks !!

AMILLIONDOLLARS

Will you payments remain the same, has the period for paying back the original loan been extended. Sounds like RBS are talking a lot of tosh, of course they can reset things the way it was before you were bullied into taking out another loan. I would complain of misselling and threaten to take the matter to the FSA and the Banking Odbudsman (no sure of spelling) I'm sure they will be a way then to put things right.

AMD

theo

yes the period has been extended, id be paying £500 more. I was not having a problem with the existing loan! Ive never been even overdrawn im very careful with the account, but they saw they could squeeze a bit more money out of me, its crazy because they were giving me so little £150!!! but they kept on everytime i spoke to my branch about refinancing. PLEASE EVERYONE OUT THERE TAKE MARTIS LEWIS'S ADVICE AND NEVER REFINANCE A LOAN BECAUSE THE FINANCIAL CALCULATION STARTS FROM THE BEGINNING WHEN INFACT YOUVE PAID MOST OF IT OFF!!

thanks for that!!!!!