[ Post New Message | Post Reply to this One | Send Private Email to Melody | Help ]

interest continues to be added 6 years on...yes it's citibank again!

from Melody (mbc109@york.ac.uk)
Citibank (the old jokers) have finally responded to our SARN of June 2001 with a very incomplete batch of papers. One thing I don't understand from the stuff they've sent is this: interest, and interest on interest, are accounted for separately, and it is only the latter that is being automatically reversed after 6 years. The actual interest charges are left to grow. From the Limitation Act 1980 12(5)...discussed a few posts ago...I would have expected each to be reversed after 6 years. Thoughts?

NB this is interest on the shortfall amount they were humorous enough to claim after selling our home in 1996.

(posted 8208 days ago)

[ Previous | Next ]