0% interest

hi guys!

Just a quick question. My personal loan was reduced to 0% interest and my repayments were reduced to 350/month in Jan of 2010. I had missed a number of payments the year before due to job loss but I was not in arrears at the time of reduction. I did not ask for any reduction but my bank felt it necessary to hand my account over to their debt management department. Being honest I did not complain at the time as it gave my the space and time needed to get things sorted. I have not missed a payment since and my loan is due to paid back next year. My question is this,will I be liable for the interest at the end of the loan? I certainly dont want to hide from any debt but I just would like to know where I stand.
Thanks guys.

@stephen84 There seems to be a few issues here.

1. THey reduced your interest to 0% and payments to €350 pm. If thats the case did they put the arrangement in writing? They could reinstate interest going forward but not retrospective.
2. The Debt Managment does not sound unusual and from what you are saying you have not missed a single payment since the rescheduling.
3. Whats the term left and when are you due a statement?
4. If what you say is correct - it sounds very generous which is why I ask - then there won't be retrspection, but they may restart interest.

Zero % interest

I think your safe from further interest.

I'm in a similar position only i'm not as dedicated repayer.

Zero interest actually protects bank/financial institutions from a potentially bad debt getting worse.
Ie. All the increased capital that the state injected into the banks is balanced against the banks loans to it's customers. If a loan isn't getting repaid then interest is getting added onto the loan and eventually turns into loan capital. Which increases the banks capital requirement. So after a while of non payment a decision might have to be taken to not charge further interest on the doubtful loan, which stops the problem getting worse.
I'm talking about unsecured loans here, if the bank has security they can just take you to court.

At the OP just sit back and enjoy your 0%.