Outstanding bank loan

max4790

We have heard that Clydesdale bank have demanded full payment of outstanding loans if you pursue reclaim of bank charges....any info about this as we have an amount outstanding on a bank loan which we pay direct debit each month. Do we need to clear this amount first before attempting to reclaim? Any advice?

natweststaffmember

A bank loan is a separate agreement so the chinese whispers maybe just that. If you are up to date on payments then they would not have a leg to stand on if they did.

max4790

Thanks, time to get the ball rolling!

darich

I'm with Natweststaffmember on this.
A loan is a contract whereby the bank charges an agreed interest rate and you pay back the amount over an agreed term

If you're up to date then they'd be breaching the contract to demand the whole lot.

However - if you used your reclaimed charges to pay the loan early then they'd probably be entitled to charge you a penalty.