Mitigating Circumstances

rileyg09

I wonder if anyone could please let me know if I have a case here.

In 2012, my one day old son died due to midwife neglect, one day old and perfectly healthy, just the midwife never monitored the birth as it should have been. Anyway, around that time I received a letter from my bank saying my student account was to be charged interest daily. I could not afford to pay it off immediately, so went to the bank, with my tail between my legs, with both my Sons birth and death certificate to explain the situation and to also ask for an extension on my student account. I asked for a maximum of 4 months, so I could go back to work and work overtime to pay off this debt.

The lady who dealt with me went to see her manager and he said that this was not possible and my only option was to get a loan out, which I did and signed for.

Now when I think about it, is this correct. The bank have not considered my circumstances or adhered to the lending code of responsible lending in my opinion. I have wrote a complaint to the bank but they have not accepted this complaint and say that the loan was just and fair of them to give.

My gripe is with the interest, I am willing to pay back what I owe on the loan, but not the 4k interest they want as well! I do not feel my best interests were considered in such a terrible time. Although they have knocked £300 off the interest, I do not feel satisfied in which the way I have been treated.

Your thoughts please...

DCFC79

Have you thought of complaining via the FOS (its a legit service, just google it) ?

Someone else might suggest a better option or even if you have a case or not(which I cant answer).

CLAPTON

rileyg09 wrote: »

I wonder if anyone could please let me know if I have a case here.

In 2012, my one day old son died due to midwife neglect, one day old and perfectly healthy, just the midwife never monitored the birth as it should have been. Anyway, around that time I received a letter from my bank saying my student account was to be charged interest daily. I could not afford to pay it off immediately, so went to the bank, with my tail between my legs, with both my Sons birth and death certificate to explain the situation and to also ask for an extension on my student account. I asked for a maximum of 4 months, so I could go back to work and work overtime to pay off this debt.

The lady who dealt with me went to see her manager and he said that this was not possible and my only option was to get a loan out, which I did and signed for.

Now when I think about it, is this correct. The bank have not considered my circumstances or adhered to the lending code of responsible lending in my opinion. I have wrote a complaint to the bank but they have not accepted this complaint and say that the loan was just and fair of them to give.

My gripe is with the interest, I am willing to pay back what I owe on the loan, but not the 4k interest they want as well! I do not feel my best interests were considered in such a terrible time. Although they have knocked £300 off the interest, I do not feel satisfied in which the way I have been treated.

Your thoughts please...

I'm sorry for your loss
but how was it connected to the overdraft or the loan?

how much was the OD?
what were the terms of the loan?
were you employed?

dealer_wins

Unfortunately your terrible situation aside, what is written on the agreements that both parties signed is what will count if you make a complaint.

Gaz83

It's a terrible situation, but as others have said there's not much that can be done.

Possibly the only route I could see is: were you advised to take the loan? Or was it just presented as an option, with the onus on you to decide what to do?