MSE News: Had a Barclays loan? You could be due share of £100m payout after blunder

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"Barclays personal loan customers could get a share of a £100m payout after the bank made mistakes on their paperwork..."
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Had a Barclays loan? You could be due share of £100m payout after blunder

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Had a Barclays loan? You could be due share of £100m payout after blunder

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That would make it about 22% :eek:
What actually have they done? Does this apply only to those who were in arrears?
Can't say I'm surprised, we had 10k short term from them, 2010-11 then paid the whole lot off. I remember thinking they made a huge !!!! up with the settlement figure and how much interest that we'd paid. OH would not have it though, they knew best :cool:
As the article mentions it is linked with arrears notices and statements. I wondering if it applies to well managed accounts too, if it does, happy days.
£6k over 5 years is not a "normal" loan, sounds like there must have been some desperation at the time of applying.
Put your figures of £6k, 60 months and 21% apr in here to see a breakdown of payments
http://www.theguardian.com/money/loan-repayment-calculator-interest-rates
Yeah that's what I worked it out at. Small amounts over long period of time always = majorly high interest.
They are looking at barclaycards.
http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1237918154384&empr=Abbeycom&launch=NO&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector