NEED HELP NOW with old loan

villager2

Hi i am new to this site so i would like to say right now if if this is not the correct way or place to ask this question could someone please show me the correct way.
My Question is regarding a bank loan i have had running for a while now.The story goes like this.I got a loan from the Bank and after a while i got into some difficutly in paying it.So the bank uped my overdraft in order for me to meet the monthly payments after a while my wages wre not even paying off my overdraft never mind my loan.They offered me another loan to clear my overdraft and the money i was behind,but as this loan was £20 a month more than the first one i was struggling even more to pay this one off.I was taken to court for not paying the loan and missed the case due to bad information at the court.I was ruled to pay the loan off at £100 per month.
But i have found out from the starting Balance of £10425 i now have a balance of £14219.I have paid £100 for the last 48 months and still the balance has risen by more than that amount.

So to complete this question i NEED HELP NOW as i am getting nowhere with this when talking to the Bank

Villager2

homer_j_3

do you have a copy of the original agreement?

fatbelly

From what you are saying, they are adding interest after judgement.

Following the First National Bank case this is allowed only if the contract you signed specifically mentioned this.

The House of Lords eventually decreed this is fair because there is a remedy called a Time Order.

This is a complex area and there is a factsheet here with National Debtline repeatedly saying 'phone us for advice'

I'd suggest it's worth a phone call.

villager2

homer_j wrote: »

do you have a copy of the original agreement?

Thanks for the advice we have heard this before and now i will be seeking a copy of the agreement,since you have said this is what to do.:beer: