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Barclays miscalculated my interest

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Optimisticred
Optimisticred Posts: 55 Forumite
Ninth Anniversary Combo Breaker
in Loans
Hi Guys,

I have recently been informed by Barclays that because they had miscalculated my interest on my loan previously they have now paid back all interest paid by me (correct and none correct interest) and as a result my loan account that had one year left has been fully paid up by this refund.

I am not sure if I am being self-serving/greedy here but should I take this matter further? Should I push for further compensation for the money I had paid off when I shouldn’t have paid it? For example for the approx £1200 if this had been in an ISA instead then it would have earnt a small amount of interest as a minimum!

For further info on this case see:
http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/10314419/Barclays-loan-rate-error-Compensation-for-300000.html

http://www.moneysavingexpert.com/news/loans/2013/09/had-a-barclays-loan-you-could-be-due-share-of-100-m-payout-after-blunder

I am just wondering what peoples opinions are?

Thanks
David

Comments

  • James_B.
    James_B. Posts: 404 Forumite
    They've already given you back more than that, by refunding the interest that you owed, so you are already well ahead.
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    they have given the correct back as compo have they not?
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • bengal-stripe
    bengal-stripe Posts: 3,354 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Optimisticred wrote: »

    I am not sure if I am being self-serving/greedy here.......

    Yes, you are!
  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    1,000 Posts Combo Breaker
    Optimisticred wrote: »
    I am not sure if I am being self-serving/greedy here
    Yes, you are.

    Here to help.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • Optimisticred
    Optimisticred Posts: 55 Forumite
    Ninth Anniversary Combo Breaker
    Yes they have provided back the interest that they HAD to return under the consumer credit act.
  • chanz4
    chanz4 Posts: 11,057 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    so over the period you paid no intrest, end of
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • redpete
    redpete Posts: 4,735 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Optimisticred wrote: »
    I am not sure if I am being self-serving/greedy here but should I take this matter further?
    I replied to another poster in a similar situation that they were being greedy. My reply was removed by a moderator so I won't say the same thing here.
    loose does not rhyme with choose but lose does and is the word you meant to write.
  • ElkyElky
    ElkyElky Posts: 2,459 Forumite
    These posts makes me laugh. "The bank has corrected their mistake by refunding what I've paid them, apologised but I want to fleece them for every further penny I can".
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
This discussion has been closed.
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