Bank Charges Financial Hardship Disussion

Laini

I used the template from here and filled in the reasons for FD.
My OH account
all the bills come out of this account so they know more is going out than coming in.
mortgage alone is 1345.00
OH wage 938.00
I am unemployed since june 2008
we did have payment protection but have received the full quota for the year =12 payments for 42% of the payment = 578.00per month

Yorkshire Bank have now sent a letter to say they need to have a 15 min discussion to determine what they can do next.

So they havent said no yet I wonder if anyone else has been through this and can shed some light on what to expect after this.

Laini xx

natweststaffmember

Laini wrote: »

I used the template from here and filled in the reasons for FD.
My OH account
all the bills come out of this account so they know more is going out than coming in.
mortgage alone is 1345.00
OH wage 938.00
I am unemployed since june 2008
we did have payment protection but have received the full quota for the year =12 payments for 42% of the payment = 578.00

Yorkshire Bank have now sent a letter to say they need to have a 15 min discussion to determine what they can do next.

So they havent said no yet I wonder if anyone else has been through this and can shed some light on what to expect after this.

Laini xx

fingers crossed, an interim payout based on the period of financial hardship which if the PPI is anything to go by could be at least 12 months but if there aren't any priority debt arrears(mortgage, council tax, utilities) then it may not be that much.

DO NOT ACCEPT ANYTHING UNLESS IS IT OFFERED IN WRITING
furthermore, additional borrowing will not help you so do not go for that solution.

Laini

natweststaffmember wrote: »

fingers crossed, an interim payout based on the period of financial hardship which if the PPI is anything to go by could be at least 12 months but if there aren't any priority debt arrears(mortgage, council tax, utilities) then it may not be that much.

DO NOT ACCEPT ANYTHING UNLESS IS IT OFFERED IN WRITING
furthermore, additional borrowing will not help you so do not go for that solution.

thanks

we dont have any arrears yet!!

but we are discussing with our mortgage lender to go on interest only and then the government arrangement thingy if we still cant afford mortgage payment.
I only sent them back today so this has not been confirmed.

We have been burned in the past with refinancing and luckly I have recovered 30,000(approx) last year in ppi single premiums ( with the help of FOS) and credit card charges which paid off unsecured debts and we have used it all up trying to keep afloat in the hope I would find a job.

Thanks again
I will tell OH not to accept anything over the phone its got to be in writing.
Then at least I know whats what.
he hasnt a clue I just ask him to sign his name on the letters I type up and he lets me get on with it but I cant discuss anything on this account cos its not a joint account its only in his name.

Laini xx:j

natweststaffmember

Oh, no arrears means my hopes are not high for a refund because that would be key to me....:(

Laini

natweststaffmember wrote: »

Oh, no arrears means my hopes are not high for a refund because that would be key to me....:(

Lets hope they are feeling generous and can see that the future is not bright and we will be deeper doo doo if they dont.
Charges are over 2000.00
Will keep you informed of the progress and outcome.
It has taken them 2 months to get this far.

Thanks

Laini xx

Laini

Laini wrote: »

Lets hope they are feeling generous and can see that the future is not bright and we will be deeper doo doo if they dont.
Charges are over 2000.00
Will keep you informed of the progress and outcome.
It has taken them 2 months to get this far.

Thanks

Laini xx

Forgot to say I have sent a letter to HSBC today asking for my charges back (this is my account).
Will keep you updated on the progress of this one too!!
Charges approx 1500.00

you dont get if you dont ask

Laini xx

alandimi

Need some advice...
Wrote to HSBC last year asking for bank charges to be repaid (including interest - total of approx. £750), got the usual letter back stating everything on hold. Since then i have become a single mum on benefits. My income doesn't cover my bills so I wrote claiming hardship. Got a letter back asking to call HSBC to discuss income and expenditure which I did and they said I did qualify and they would contact me to discuss things. Got a phone call yesterday saying i was effectively £32 short each month so thats all they would pay me for 3 months - so just under £100 in total. This is barely going to make a dint in my overdraft (which they are currently charging me at least £10 a month in debit interest). They are sending me a letter which I have to sign to say I agree to this and then they'll pay me £96 (I've got 10 days to make a decision). However, I think this is mightily unfair so my question is how long do I have to leave it before taking it to the Financial Ombudsman? I've read somewhere is it 8 weeks but is that if you haven't heard from them or if you're not in financial hardship? Really struggling money wise and could do with all my bank charges back.

natweststaffmember

alandimi wrote: »

Need some advice...
Wrote to HSBC last year asking for bank charges to be repaid (including interest - total of approx. £750), got the usual letter back stating everything on hold. Since then i have become a single mum on benefits. My income doesn't cover my bills so I wrote claiming hardship. Got a letter back asking to call HSBC to discuss income and expenditure which I did and they said I did qualify and they would contact me to discuss things. Got a phone call yesterday saying i was effectively £32 short each month so thats all they would pay me for 3 months - so just under £100 in total. This is barely going to make a dint in my overdraft (which they are currently charging me at least £10 a month in debit interest). They are sending me a letter which I have to sign to say I agree to this and then they'll pay me £96 (I've got 10 days to make a decision). However, I think this is mightily unfair so my question is how long do I have to leave it before taking it to the Financial Ombudsman? I've read somewhere is it 8 weeks but is that if you haven't heard from them or if you're not in financial hardship? Really struggling money wise and could do with all my bank charges back.

Do you have priority debt arrears(mortgage/rent,.council tax, utilities)?
Are any of the arrears being paid off?

As an aside are you claiming all the benefits that you are entitled to as a single mother?
From the period in which hardship began, ie becoming a new mother or separation from partner how many charges ie unauthorised overdraft charges have you received?

alandimi

i don't have any arrears.....yet. But if I don't do something about my finances I will. And I am just extremely worried about more charges, arrears and consequently bad credit rating etc. Thankfully my rent and most of my council tax are paid by the council but I have a credit card (paying min amount), a maxed out £1,500 overdraft with lloyds (which I dread them asking me to pay off as i haven't touched it for 2 years) and about £50 left on my overdraft HSBC account. I'm claiming all I can in benefits and the bank agree it doesn't cover my bills but they seem to think that paying the £32 I'm short each month (but only for 3 months) will make a difference but it won't. I've not had any bank charges for 2 years as i have been really careful (I was on maternity allowance but have now been on income support for 3 months).

natweststaffmember

alandimi wrote: »

i don't have any arrears.....yet. But if I don't do something about my finances I will. And I am just extremely worried about more charges, arrears and consequently bad credit rating etc. Thankfully my rent and most of my council tax are paid by the council but I have a credit card (paying min amount), a maxed out £1,500 overdraft with lloyds (which I dread them asking me to pay off as i haven't touched it for 2 years) and about £50 left on my overdraft HSBC account. I'm claiming all I can in benefits and the bank agree it doesn't cover my bills but they seem to think that paying the £32 I'm short each month (but only for 3 months) will make a difference but it won't. I've not had any bank charges for 2 years as i have been really careful (I was on maternity allowance but have now been on income support for 3 months).

Any charges on that credit card and/or PPI?