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Hi,
In 2009 my bank obtained a charging order for my combined debt of my overdraft and personal loan. The actual sum owed was £8000 but with fees etc the debt had risen to £ 10,500. At the time of the hearing I protested that the fees where excessive and when the charging order was granted it was for £8000. (Just to say that unfortunately due to family illness I didn't attend court so don't know what exactly was ordered, but as the charge was for £8000 I presumed the court had accepted my argument )
No order for interest was granted so the amount decreases every time i make a payment
I have been paying £15 a week since 2010 so have paid off over £5200. Now my financial situation is stable I wanted to pay the balance and so remove the order but my creditors say I must pay £5300 ( the balance of the full debt ) but I would have thought that that as the order was for £8000 I only owe around £2800..
Thanks for any help
In 2009 my bank obtained a charging order for my combined debt of my overdraft and personal loan. The actual sum owed was £8000 but with fees etc the debt had risen to £ 10,500. At the time of the hearing I protested that the fees where excessive and when the charging order was granted it was for £8000. (Just to say that unfortunately due to family illness I didn't attend court so don't know what exactly was ordered, but as the charge was for £8000 I presumed the court had accepted my argument )
No order for interest was granted so the amount decreases every time i make a payment
I have been paying £15 a week since 2010 so have paid off over £5200. Now my financial situation is stable I wanted to pay the balance and so remove the order but my creditors say I must pay £5300 ( the balance of the full debt ) but I would have thought that that as the order was for £8000 I only owe around £2800..
Thanks for any help
