what happens to my loan

darrenjudson

Hi i have read all the info on claiming back bank charges and it informs me of what do if you have an overdraft with the bank you are claiming back off,but what about my loan,will they try to request payment in full or is this safe.

bengal-stripe

Your loan is a separate agreement and, presuming it is fully paid to date, the bank cannot close it. A loan is different from an overdraft (payable on demand), if there is no breach of contract (no missing payments), the bank cannot breach it unilaterally.

If your loan is in a mess and you fulfil the criteria of default, but the bank has shied away so far from that ultimate step, then they might close it as well.

At present, all claims for bank charges are on hold, at least until tomorrow (22<SUP>nd</SUP> of September) but it is quite possible the hold gets extended until all that charge-business has been sorted out (which might take a while).

Check this site or the news for developments.

chipbeck

bengal-stripe wrote: »

Your loan is a separate agreement and, presuming it is fully paid to date, the bank cannot close it. A loan is different from an overdraft (payable on demand), if there is no breach of contract (no missing payments), the bank cannot breach it unilaterally.

If your loan is in a mess and you fulfil the criteria of default, but the bank has shied away so far from that ultimate step, then they might close it as well.

At present, all claims for bank charges are on hold, at least until tomorrow (22<SUP>nd</SUP> of September) but it is quite possible the hold gets extended until all that charge-business has been sorted out (which might take a while).

Check this site or the news for developments.

Sometimes I just don't know where the days go.