Professional Loans

Michelle_Jones_2

Dear Martin,

Re: Postgraduate - CPE diploma law

I would be so grateful of your advice.

I have a Professional Loan with HSBC which started in 2003 for a Postgraduate study. The amount of the loan borrowed was approx £14,000.

The repayment on the loan started in Jan 2003 was £60.00 at the time. In Jan 2008 the repayment is £360.00 a month.

I took the option at the time to pay the loan at the end of the term.

The total amount of the loan outstanding in Jan 2008 was £22,000.00

I paid the first payment in Jan 2008 of £360 and then I came out of work.

I am in the process of sorting out all my debt with a Debt Management Plan,
set up by a Debt Management Finance Company.

However, today HSBC sent me a letter requesting £30,000.00 to pay on my Postgraduate Loan.

So from Jan 2008 and April 2008 they have placed £8,000.00 worth of charges onto the amount that was owing in Jan 2008.

Is there anything I can do about this.

I would really appreciate your advice.

I am already sending them a letter requesting a Refund on the Bank Charges we have had to pay on our Joint Account and my Graduate Account.


Can you please help me with some advice.


Many Thanks