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    • Sbelle12
    • By Sbelle12 11th Mar 17, 9:20 PM
    • 3 Posts
    • 0 Thanks
    Sbelle12
    Your credit score is meaningless as nobody but you sees it, only the data is important and that will show you living in your OD and not being able to clear it so your credit record will already be quite poor.
    My credit score was "excellent" until recently and has just dropped down to "good". I do know the score itself is meanless, but it does represent the data in the report, which overall is ok.

    My overdraft does not appear on my credit report. I looked into it when I saw my report and apparently, because I have had the account for so long, it doesn't appear on it due to t&c.

    I want to keep the score/report good so when I do return to work, I can get a 0% interest money transfer card and pay off the entire overdraft. I applied, but was turned down due to income (hence dropping down to "good").

    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    • dunstonh
    • By dunstonh 11th Mar 17, 11:55 PM
    • 87,302 Posts
    • 52,475 Thanks
    dunstonh
    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    No. Nothing will be.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Nasqueron
    • By Nasqueron 12th Mar 17, 11:11 AM
    • 4,172 Posts
    • 2,303 Thanks
    Nasqueron
    My credit score was "excellent" until recently and has just dropped down to "good". I do know the score itself is meanless, but it does represent the data in the report, which overall is ok.

    My overdraft does not appear on my credit report. I looked into it when I saw my report and apparently, because I have had the account for so long, it doesn't appear on it due to t&c.

    I want to keep the score/report good so when I do return to work, I can get a 0% interest money transfer card and pay off the entire overdraft. I applied, but was turned down due to income (hence dropping down to "good").

    I am concerned if I do contact Barclays, something would then be put on my report regarding this, which would negatively affect my chances when I can apply again.
    Originally posted by Sbelle12
    Again, the "score" or rating is meaningless, people with bankruptcies on their record can get 999 on Experian. Lenders give credit on the risk THEY determine based on your data, your salary etc (credit agencies don't know your salary). Personally I'd check all 3 agencies (Experian, Equifax and CallCredit) - it's possible the account is not reported to all of them

    A single application for a card won't cause any long term issues for a record, after 3-6 months no-one would care. However, having an overdraft you are using in full and are unable to pay off and struggling to pay bills will negatively affect you way more than a CC application. If you do raise a case with the bank for financial hardship and it helps you clear down the OD what then? Will you be able to clear the OD every month or just be back to square zero in 6-12 months time?

    I'd suggest the below sub forum for help, they can talk you through doing a statement of affairs and cutting spending which you may not realise you are doing

    http://forums.moneysavingexpert.com/forumdisplay.php?f=76
    • daniellej168
    • By daniellej168 20th Mar 17, 9:36 AM
    • 3 Posts
    • 0 Thanks
    daniellej168
    Overdraft charges
    Hi, when your saying that your claiming money back from your bank...it is over draft charges isn't it?
    My boyfriend has lived in his over draft for over 10 years and pays £40 a month to have it. He's stuck in a vicious circle now and can't get out of it. He's resulted in payday loans and credit cards. He doesn't have any household bills to pay as he's back with his parents now. But he has debts to pay off.

    Do you think he has a chance to claim some money back? Or at the very least stop the £40 a month for a bit so he can try to get back on his feet?

    Thanks
    • Nasqueron
    • By Nasqueron 20th Mar 17, 10:37 AM
    • 4,172 Posts
    • 2,303 Thanks
    Nasqueron
    Hi, when your saying that your claiming money back from your bank...it is over draft charges isn't it?
    My boyfriend has lived in his over draft for over 10 years and pays £40 a month to have it. He's stuck in a vicious circle now and can't get out of it. He's resulted in payday loans and credit cards. He doesn't have any household bills to pay as he's back with his parents now. But he has debts to pay off.

    Do you think he has a chance to claim some money back? Or at the very least stop the £40 a month for a bit so he can try to get back on his feet?

    Thanks
    Originally posted by daniellej168
    Do note you do not claim back charges, the bank will reject such attempts if they think it's an "unfair charges" type aproach

    He needs to apply to the bank's hardship team to have his case looked at. If he's genuinely in a cycle of charges they will help (e.g. a refund of charges, freezing future charges etc) bu do note they will look at his spending so if he's claiming hardship but has say sky tv bills, eating out etc i.e. causing the hardship, they are not as sympathetic

    Point him to the Debt Free forum below where a determined person can post a statement of affairs for his monthly spend and see where he can rein in his spending.

    http://forums.moneysavingexpert.com/forumdisplay.php?f=76
    • whammy
    • By whammy 30th Mar 17, 4:31 PM
    • 1 Posts
    • 0 Thanks
    whammy
    monthly business account charges
    I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.
    • Moneyineptitude
    • By Moneyineptitude 30th Mar 17, 4:48 PM
    • 18,364 Posts
    • 8,598 Thanks
    Moneyineptitude
    I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.
    Originally posted by whammy
    On what basis do you expect to have a refund of charges attached to a business account?

    I doubt you'll get anywhere arguing your business is currently struggling
    • dunstonh
    • By dunstonh 30th Mar 17, 5:41 PM
    • 87,302 Posts
    • 52,475 Thanks
    dunstonh
    I was wondering before I dig any further if I can claim back my monthly business bank account charges on an account I've held since 2010. I have had no overdraft facility throughout this time, and the charges are for the day to day running of the account. I am on the brink of closing down, and am looking for a way to get me over this hurdle.
    Originally posted by whammy
    Being in business, you will know that you charge people for things they buy from you. Why do you think your bank should charge you nothing?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • BryanWal
    • By BryanWal 3rd Apr 17, 2:29 PM
    • 1 Posts
    • 0 Thanks
    BryanWal
    I have had current accounts for years! getting little useless bits n bobs as incentives to have the accounts.
    but not till recently did I realise that there is a free option.
    I always thought I had to pay!
    The current account I'm using now I get full road side assistance with free flag n travel insurance I have used these and its worth while as the numbers add up price for price so I don't want to loose these.
    but can I clam for the old Current accounts (all with natwest bank)
    • dunstonh
    • By dunstonh 3rd Apr 17, 3:40 PM
    • 87,302 Posts
    • 52,475 Thanks
    dunstonh
    I have had current accounts for years! getting little useless bits n bobs as incentives to have the accounts.
    but not till recently did I realise that there is a free option.
    I always thought I had to pay!
    The current account I'm using now I get full road side assistance with free flag n travel insurance I have used these and its worth while as the numbers add up price for price so I don't want to loose these.
    but can I clam for the old Current accounts (all with natwest bank)
    Originally posted by BryanWal
    This thread isnt about that subject. However, from what you have said, you appear to have no grounds for complaint.

    You are also likely to be barred from complaint. You have 6 years from the point of sale and 3 years from being reasonably aware of an issue. Account closure can trigger the 3 year rule. (both the 6 AND the 3 year rule need to be satisfied for them to bar complaint. i.e. more than 6 years ago when opened and more than 3 years from closure.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • savo456
    • By savo456 6th Apr 17, 3:03 PM
    • 2 Posts
    • 0 Thanks
    savo456
    is this hardship?
    hi all, first post for me but long time reader of Martin's emails...


    I have recently become aware of the wife's difficulties with her bank (from before we met and married) so have been trying help her out.


    In the last 6 years (only data available) she's had some £3,200 in bank charges. This is for returned DD's, being overdrawn and using a reserve facility in the overdraft. This overdraft is £3,000 with the reserve being £500 of this.


    In that same period she had to take out other forms of credit to make ends meet. These loans totalled over £13,700 - she made the minimum on all these and has cleared these successfully. She also has had two credit cards with a value of £10,700 and again made at least the minimum on these. the cards have now been cleared as I have helped her out. Obviously, there's a lot of interest paid on these credit agreements too...


    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank? Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?


    Any thoughts gratefully received!
    • Nasqueron
    • By Nasqueron 6th Apr 17, 3:44 PM
    • 4,172 Posts
    • 2,303 Thanks
    Nasqueron
    hi all, first post for me but long time reader of Martin's emails...


    I have recently become aware of the wife's difficulties with her bank (from before we met and married) so have been trying help her out.


    In the last 6 years (only data available) she's had some £3,200 in bank charges. This is for returned DD's, being overdrawn and using a reserve facility in the overdraft. This overdraft is £3,000 with the reserve being £500 of this.


    In that same period she had to take out other forms of credit to make ends meet. These loans totalled over £13,700 - she made the minimum on all these and has cleared these successfully. She also has had two credit cards with a value of £10,700 and again made at least the minimum on these. the cards have now been cleared as I have helped her out. Obviously, there's a lot of interest paid on these credit agreements too...


    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank? Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?


    Any thoughts gratefully received!
    Originally posted by savo456
    If she was in current hardship and continually stuck in a cycle of paying off charges and getting more, then you could.

    However as it sounds like you've cleared all the debts and had various payouts, I can't see how you'd present a case of hardship. The FOS doesn't deal with hardship cases in the way they do over say PPI as there is no rule on what constitutes hardship nor what the bank has to do (they don't have to refund any charges, they can just freeze future charges)
    • dunstonh
    • By dunstonh 6th Apr 17, 4:01 PM
    • 87,302 Posts
    • 52,475 Thanks
    dunstonh
    So the question is this; can this situation be considered hardship and should the FOS agree with us or the bank?
    The FOS have no ability to force the bank to pay anything. The court case in 2009 that the banks won changed things. All the FOS can do is make sure that the bank has considered her situation fairly.

    She no longer appears to meet the criteria of CURRENT financial hardship.

    Is it worth mentioning that the same bank has already paid out on mis-sold packaged account fees (ineligible for insurance/cover) as well as PPI?
    Nothing there relevant to the situation. Plus, the complaints team handle current hardship cases, so they know their own history.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • savo456
    • By savo456 6th Apr 17, 4:57 PM
    • 2 Posts
    • 0 Thanks
    savo456
    Thanks dunstonh.

    Currently she's at the thick end of a 3k overdraft with no means to pay it off - currently looking after our little one. She's still getting charged...

    You mention there's nothing relevant in referencing the other payouts but also suggest the same payouts influence the hardship argument. It must work vice versa surely? They all fall under the same remit here don't they - she wouldn't be in this situation if it wasn't for the charges/fees etc. Pretty sure they are all intrinsically linked here!

    I find it hard to accept that because of help from family or by obtaining more credit you are considered no longer in hardship. Also, why is "current" relevant? If the complaint can go back 6 years that's not current. the worst of it was 3-4 years ago and has only improved by the fact the bank admitted wrongdoing in other aspects of their behaviour.
    • dunstonh
    • By dunstonh 6th Apr 17, 5:20 PM
    • 87,302 Posts
    • 52,475 Thanks
    dunstonh
    You mention there's nothing relevant in referencing the other payouts but also suggest the same payouts influence the hardship argument.
    But they have already had refunds. Unless they have a direct relationship then they are not linked. It is possible in some cases but its hard to show as most PPI or account charges are small amounts each month. e..g if the PPI or account charge was £20 that month but she was over limit by £200 then she was still going to suffer the charges with or without those.

    The bank is meant to consider the impact of redress against charges to see if any should be refunded as part of the PPI redress. If you feel they havent done this then you could raise that point.

    They all fall under the same remit here don't they
    No. Each of those is independent of each other.

    I find it hard to accept that because of help from family or by obtaining more credit you are considered no longer in hardship.
    But that is how it is.

    Also, why is "current" relevant? If the complaint can go back 6 years that's not current. the worst of it was 3-4 years ago and has only improved by the fact the bank admitted wrongdoing in other aspects of their behaviour.
    There is no 6 year rule here. Also, it is not a complaint. Bank charges are considered legal and fair and a contractual event. Financial hardship is a goodwill gesture from the bank towards people that are suffering currently. It also does not have to include any refund. Frequent options offered to those in current hardship is suspension of interest and charges for the next 6 months or putting the person onto a debt repayment plan. Refund of recent charges (which tend to be 3-12 months worth when it does happen) is just one of the options.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • -taff
    • By -taff 6th Apr 17, 7:26 PM
    • 7,021 Posts
    • 4,434 Thanks
    -taff
    She can still make a complaint if she is in current hardship with her overdraft and a sprial of worsening debt.
    However, she should have no extras on her DD's for sky or similar.
    • toobs1981
    • By toobs1981 11th Apr 17, 6:20 PM
    • 4 Posts
    • 0 Thanks
    toobs1981
    need advice on how to proceed
    for years I have had a simple checking account with halifax. for a lot ofor this time I 2 as receiving benefits. if I had a failed direct debit I would be charged £10 by the bank, this charge would take me overdrawn and as I did not have an overdraft agreement (checking acc) I would also be charged for an unauthorised overdraft and charged additional weekly charges for every week I was overdrawn. the full totAl was then taken from my benefits.and this would happen every month or so.....can I get any of these money's reimbursed? I am no longer on benefits or in hardship but do still have the same account. what should my first steps be?......any help would be appreciated...thanks
    • toobs1981
    • By toobs1981 11th Apr 17, 6:22 PM
    • 4 Posts
    • 0 Thanks
    toobs1981
    for years I have had a simple checking account with halifax. for a lot ofor this time I 2 as receiving benefits. if I had a failed direct debit I would be charged £10 by the bank, this charge would take me overdrawn and as I did not have an overdraft agreement (checking acc) I would also be charged for an unauthorised overdraft and charged additional weekly charges for every week I was overdrawn. the full totAl was then taken from my benefits.and this would happen every month or so.....can I get any of these money's reimbursed? I am no longer on benefits or in hardship but do still have the same account. what should my first steps be?......any help would be appreciated...thanks
    • zx81
    • By zx81 11th Apr 17, 6:23 PM
    • 11,218 Posts
    • 11,179 Thanks
    zx81
    can I get any of these money's reimbursed? I am no longer on benefits or in hardship
    Originally posted by toobs1981
    No. They would only help if you were in current hardship.
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