Ok guys so I'll be the first to admit over recent years due to illness, divorce and some denial I haven't always kept up with knowing my finances. I am almost debt free now :j and it is time to concentrate on my mortgage.
I have been going through my paperwork from Northern Rock (my mortgage provider since Sept 2005) and have discovered that in October 2009 I stopped paying interest on a secured loan for £15k.
They say I am not liable to pay any interest or charges starting 1st October 2009 because previous statements did not comply with sections 77a of the Consumer Credit Act 1974.
I'm not knocking this brilliant turnaround of fortune and events which helps me tremendously... but I do wonder why from the 1st October 2009. Where there some regulations brought in at this time? Would it be far too much to ask that previous interest paid would be reimbursed?
I have been going through my paperwork from Northern Rock (my mortgage provider since Sept 2005) and have discovered that in October 2009 I stopped paying interest on a secured loan for £15k.
They say I am not liable to pay any interest or charges starting 1st October 2009 because previous statements did not comply with sections 77a of the Consumer Credit Act 1974.
I'm not knocking this brilliant turnaround of fortune and events which helps me tremendously... but I do wonder why from the 1st October 2009. Where there some regulations brought in at this time? Would it be far too much to ask that previous interest paid would be reimbursed?