Barclays help!

Perscat

Hi! I'm not sure I'm posting in the right section but here goes We recently had a few financial problems and asked Barclays if we could possibly lower our loan repayments a little for a month or two. Their answer was to offer a loan to pay off our existing loan and overdraft. It was not mentioned at the time that our overdraft would then be removed.
It has now gone through and theyve also charged us interest on the old loan , we were also not told this would happen. In effect with the new loan this means we will now pay the interest twice on the same money. I have had a complaint registered for investigation.

In the meantime, can we move banks and carry on paying the loan repayments to Barclays or do we need to wait for the loan to be paid off?

grumbler

Perscat wrote: »

Hi! I'm not sure I'm posting in the right section but here goes We recently had a few financial problems and asked Barclays if we could possibly lower our loan repayments a little for a month or two. Their answer was to offer a loan to pay off our existing loan and overdraft. It was not mentioned at the time that our overdraft would then be removed.

They didn't have to mention it. They can remove it at any time without any reason.

That said, why do you need it? It's likely to be more expensive than the loan. Just see it like moved to the loan and get out of the habit of living in red.

In the meantime, can we move banks and carry on paying the loan repayments to Barclays or do we need to wait for the loan to be paid off?

Yes, you can move. Or you can just open another account and keep the old one.

alanq

This thread is duplicate of
https://forums.moneysavingexpert.com/discussion/4554929