Taking Bank of Scotland To Onbudsman Over Overdraft

denim.demon

I am taking the Bank of Scotland to the onbudsman over the overdraft agreement that was on my bill payment account. The pulled the OD due to the conduct of the account, which I openly admit was my doing, and they are perfectley entitled to do so.

However when I contacted them to arrange a repayment plan to clear my Overdraft they said that if I could not pay off in 6 months then they would sell the debt, again this is something that they are well within their rights to do.

As I could not pay off the debt within six months I was told by the Bank Of Scotland that the best course of action was to not pay anything off as that would put me in better standing with the debt collector. I have now paid off almost all of the debt, but the Bank of Scotland are still charging me interest on a debt that they no longer own. This I find rather strange and is probabally not right, so I am off to the Financial Onbudsman to make a complaint about this after hitting my head against a brick wall with BOS customer service.

I noticed that from the reclaim bank charges threads the BOS were quite happilly pulling peoples overdraft facilities and not helping them arrange repayment schedules that the customer could maintain, and I would be interested in hearing from their experiences.

My complaint is not about the bank removing the Overdraft facility but the way they go about it, and hopefully if enough people complain about this then we can change the banks policys.

Tootsie_Roll

denim.demon wrote: »

I have now paid off almost all of the debt, but the Bank of Scotland are still charging me interest on a debt that they no longer own.

Firstly - how do you know they don't still own the debt ? Secondly - even if it has sold (which will include the right to continue charging interest) why do you think that the interest should stop ?

denim.demon wrote: »

This I find rather strange and is probabally not right, so I am off to the Financial Onbudsman to make a complaint about this after hitting my head against a brick wall with BOS customer service.

Well it most likely is right so don't waste your time, the bank's and more importantly the Ombudsman's. Also have you exhausted the internal complaints procedure at BOS yet ? - the ombudsman will not be able to look at the case until you have.