Question Of Interest

A chara, - In April 1998, an outstanding Bank of Ireland car loan balance of £28, resulting from a variable rate of interest, …

A chara, - In April 1998, an outstanding Bank of Ireland car loan balance of £28, resulting from a variable rate of interest, was paid by us immediately.

Eleven months later in March 1999, we have just received a statement that at that time we had owed a further 27p and that this with interest had increased to £15 by early December 1998.

Apart from the deplorable lack of communication for almost one year, is this a form of official usury? - Sinne, Uinsionn O Farachtain, Mairead Ui Fharachtain,

Ranelagh,

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Dublin 6.