Agreement with Bank

[dayro]

Some 14 years ago I entered into a repayment agreement with a high street bank, which stated that any variation would be by mutual consent. The bank has been taken over, and recently I received a notice from a credit collection company advising that the existing agreement is due for review. I am OK with this provided the already agreed terms are maintained, however could they legally alter the existing terms without my agreeing?

[northernmonkey]

I don't see no reason why the bank couldn't change the terms if they are reviewing the agreement. You are the debtor after all!!.

- Is the bank Abbey National (Santander) by any chance!?

- Contact the credit collection company (if not already done so) and see if you can maintain the current terms, I don't see no reason for them changing the terms if you haven't defaulted with payments and I would think the amount of years that you've been continually repaying the agreed amount of money would be in your favour if you did need it to be.
Good luck with this
:)