Bank Charges Financial Hardship Disussion

[Deleted User]

natweststaffmember wrote: »

I would say that if they have issued you with a financial closure letter, that will include WHY they have only offered £40.00 rather than more. It is their argument that you have to put forward to the FOS ie the bank is wrong on point 1 because of x y and z(and the lawfulness of the charges is NOT relevant to why they are wrong).

Thanks. The bank hasn't contacted directly, it's gone via the FOS so I can only go on what the FOS have said... I'll transcribe from the letter:

"The bank has now reviewed your financial position on the basis of the information about your financial circumstances which you have supplied to it. As a result, the bank has made an offer to refund £40. This offer is made on a goodwill basis and in recognition of the difficulties you are experiencing. On the face of it, in making this offer to you the bank appears to be complying with its obligations under the Banking Code and I do not consider that the bank is required to do anything further at this stage.

"The offer of £40 I have outlined is made without any admission of liability in full and final settlement of your complaint about your financial difficulties at the present time."

Nowhere does it give a reason or breakdown of the £40 offer. Perhaps I should write back and simply ask for a calculation/reasoning behind the offer?

natweststaffmember

urbankoala wrote: »

Thanks. The bank hasn't contacted directly, it's gone via the FOS so I can only go on what the FOS have said... I'll transcribe from the letter:

"The bank has now reviewed your financial position on the basis of the information about your financial circumstances which you have supplied to it. As a result, the bank has made an offer to refund £40. This offer is made on a goodwill basis and in recognition of the difficulties you are experiencing. On the face of it, in making this offer to you the bank appears to be complying with its obligations under the Banking Code and I do not consider that the bank is required to do anything further at this stage.

"The offer of £40 I have outlined is made without any admission of liability in full and final settlement of your complaint about your financial difficulties at the present time."

Nowhere does it give a reason or breakdown of the £40 offer. Perhaps I should write back and simply ask for a calculation/reasoning behind the offer?

IV. Any correspondence issued to the customer that provides detail on the decision taken
by the firm must be compliant with Disp requirements, e.g. it should clearly explain
the outcome of the investigation and the rationale for the decision, and provide details
of how to escalate the complaint if the customer is not happy with how it has been
resolved (this included cases rejected because the customer did not return an I&E
form)."

The above is from a letter from the FSA to all banks on 19th March 2009.
Where is the rationale for the decision by halifax? Might be worth asking them if they could clarify that point.

NAS7

natweststaffmember wrote: »

If you can argue that their reasoning is wrong then the FOS or even the bank may increase their offer.

Thanks for the comment. I shall write back this w/e acknowledging the sum which should ensure that I am not getting additional charges but re-stating that I still regard my overall claim as unresolved.

natweststaffmember

NAS7 wrote: »

Thanks for the comment. I shall write back this w/e acknowledging the sum which should ensure that I am not getting additional charges but re-stating that I still regard my overall claim as unresolved.

To clarify, no offer made is a full and final settlement of a claim, only of the financial hardship aspect to it.

dannynixon

natweststaffmember wrote: »

Ok, the DMP kinda has the opposite affect because as your payments are lower then your disposable income is more, so to speak and therefore is not necessarily financial hardship. Personally, you can ask but they may say no.
http://www.moneysavingexpert.com/reclaim/bank-charges-hardship
The above is the guide.

Any credit card charges or PPI to reclaim?

Thanks for the reply, that's cleared that up. I will stop being impatient and just apply as normal.

One more question. I have not entered into the DMP yet (long story) as I am now going with CCCS but don't get an appointment until end of the month. When I go in to this, I will be claiming a £1700 overdraft with my bank. If I am claiming this in my DMP which I obviously have to, can I still re-claim bank charges? Is there anything stopping me?

natweststaffmember

dannynixon wrote: »

Thanks for the reply, that's cleared that up. I will stop being impatient and just apply as normal.

One more question. I have not entered into the DMP yet (long story) as I am now going with CCCS but don't get an appointment until end of the month. When I go in to this, I will be claiming a £1700 overdraft with my bank. If I am claiming this in my DMP which I obviously have to, can I still re-claim bank charges? Is there anything stopping me?

If you are doing that at the end of next month then get the claim in now possibly on financial hardship grounds
If you are in a DMP you can reclaim charges(bank, credit card ones and any PPI)

silverlinning???

Hi
I have recently attempted to re-claim my bank charges through the financial hardship route. After extensive phone call with the HSBC they are in agreement that I am having 'difficulties'

After investigation I recieved a phone call......it has left me a little confused they have added my income, added my outgoings** (not including debts to other creditors despite impending court action) subtracted, resulting in a deficit of £230
** they claim that out goings are only essentials ie. roof over head, food council tax, utilities

Their offer...... to pay the deficit each month for 2 months ( a total payout of £460) I can then re apply every 2 months (by phoning the 0845 number)!! if my circumstances have not changed or the charges 'run out'

Why will they not pay the full £3000+ which will pay of most of my important arrears instead they choose a very long winded approach which sadly due to I'm sure impending interest will not 'touch the sides'

I have not yet recieved the letter to which I am to make this a binding agreement does anyone have any ideas? IS this a positive solution, has any other banks made this offer? IS this HSBC policy as she stated?!

natweststaffmember

silverlinning??? wrote: »

Hi
I have recently attempted to re-claim my bank charges through the financial hardship route. After extensive phone call with the HSBC they are in agreement that I am having 'difficulties'

After investigation I recieved a phone call......it has left me a little confused they have added my income, added my outgoings** (not including debts to other creditors despite impending court action) subtracted, resulting in a deficit of £230
** they claim that out goings are only essentials ie. roof over head, food council tax, utilities

Their offer...... to pay the deficit each month for 2 months ( a total payout of £460) I can then re apply every 2 months (by phoning the 0845 number)!! if my circumstances have not changed or the charges 'run out'

Why will they not pay the full £3000+ which will pay of most of my important arrears instead they choose a very long winded approach which sadly due to I'm sure impending interest will not 'touch the sides'

I have not yet recieved the letter to which I am to make this a binding agreement does anyone have any ideas? IS this a positive solution, has any other banks made this offer? IS this HSBC policy as she stated?!

Thank you for posting the above because it does give an indication of how they are processing their claims which is hugely helpful. Am working on things related to them so I guess the next question I have is about the non priority debts and whether they are Credit card/catalogues, PPI(on loans) cos there may be charges to reclaim.
I would say wait for their offer and we will see about negotiation on the interest bit

dannynixon

natweststaffmember wrote: »

If you are doing that at the end of next month then get the claim in now possibly on financial hardship grounds
If you are in a DMP you can reclaim charges(bank, credit card ones and any PPI)

Right that sounds like a plan. Will ring back tomorrow then and get things kicking. Cheers pal.

Thanks for clearing up claiming while on a DMP.

becksta22

Hi all
I put in an application for financial hardship with halifax they roughly have charged me over £1000 in the last 2 years. I sent the form back to them about 4 weeks ago and got a reply back today saying that that my case will stay on hold, looks like a standard letter as they dont directly comfirm what my complaint was about. wat can i do now???do i have to just wait???
many thanks