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Can I reclaim this...

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imapoorstudent Posts: 97 Forumite

10 May 2007 at 11:50AM in Loans

When I was younger a few years ago I racked up about £1,000 of unauthorised overdraft charges. If I remember rightly, if I made any transactions on the car, because I was overdrawn and didn't have an overdraft, I would get charged about £30. By the time they took action and cancelled the card, I was at least £1k overdrawn - probably about £500 in transactions and the rest in charges.

They closed the account and moved me to the Debt Management department. They setup an unsecured loan for me... it worked out something like a £1000-ish loan paid over the course of about a year or 18 months, and I paid back after interest a total of about £2.5k!!!

If I can get a copy of the paperwork (I had it up until recently, doh) and the interest rate is unlawfully high, would I be able to reclaim the interest I paid?

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