Bank Charges Financial Hardship Disussion

MrsCabbage

natweststaffmember wrote: »

Which is your main account?
Do you have any priority debt arrears(mortgage or rent, council tax, utilities)?

My main account is the Advantage Gold and we have started incurring charges. I closed the Step account down a couple of months ago. What I have also done is cancelled the majority of my direct debits and am now paying weekly for my utilities via card at the post Office. We are due in Court next week for our Council Tax but I have been to see them and have now made a claim for council tax benefit and paid them something but I may still owe some more. I do have mortgage arrears of about £800 which I am paying back a little extra on top of my normal monthly payment but I am worried as I need to find December and January's payment which will be nye on impossible given the fact that we are now on benefits.

Thanks

natweststaffmember

MrsCabbage wrote: »

My main account is the Advantage Gold and we have started incurring charges. I closed the Step account down a couple of months ago. What I have also done is cancelled the majority of my direct debits and am now paying weekly for my utilities via card at the post Office. We are due in Court next week for our Council Tax but I have been to see them and have now made a claim for council tax benefit and paid them something but I may still owe some more. I do have mortgage arrears of about £800 which I am paying back a little extra on top of my normal monthly payment but I am worried as I need to find December and January's payment which will be nye on impossible given the fact that we are now on benefits.

Thanks

Are you aware you are paying £12.95 for Advantage Gold?
Do you use any of the "benefits" of the account?

MrsCabbage

natweststaffmember wrote: »

Are you aware you are paying £12.95 for Advantage Gold?
Do you use any of the "benefits" of the account?

Yeah, we have used the breakdown cover and the mobile phone insurance.

natweststaffmember

MrsCabbage wrote: »

Yeah, we have used the breakdown cover and the mobile phone insurance.

ok, but do you use them now?

For example, I worked for the bank and I had the advantage gold account because I didn't pay for it as staff. The first thing I did when I was dismissed was to ditch the account. Basic AA cover cost me £29 and even with mobile phone insurance(usually £6.99 a month) it still doesn't work out as cheaper with advantage gold.
Are you sure that £12.95 in your pocket and a phonecall to your house insurer might not be cheaper?

MrsCabbage

natweststaffmember wrote: »

ok, but do you use them now?

For example, I worked for the bank and I had the advantage gold account because I didn't pay for it as staff. The first thing I did when I was dismissed was to ditch the account. Basic AA cover cost me £29 and even with mobile phone insurance(usually £6.99 a month) it still doesn't work out as cheaper with advantage gold.
Are you sure that £12.95 in your pocket and a phonecall to your house insurer might not be cheaper?

Yeah you're right do I just ring Nat West and ask them to downgrade my account? I applied for a £100 overdraft as well a couple of months ago and was refused.

adbaz1

I need some advice as I have a business account and a personal account with natwest as well as a business loan. They have extended the term of the loan as i was finding it hard to meet the monthly payments. I am sure that I would qualify for hardship on both accounts (personal and business) but wonder if they could then withdraw the extended term on the loan and cause me further problems. Also can I cliam hardhsip on a business account?

natweststaffmember

adbaz1 wrote: »

I need some advice as I have a business account and a personal account with natwest as well as a business loan. They have extended the term of the loan as i was finding it hard to meet the monthly payments. I am sure that I would qualify for hardship on both accounts (personal and business) but wonder if they could then withdraw the extended term on the loan and cause me further problems. Also can I cliam hardhsip on a business account?

they cannot change the terms of the loan agreement but you cannot claim hardship on a business account claim either.

littleeff

I need some advice please, I hope someone can help me. HSBC charged me over £K's over a number of years for exceeding my overdraft, up to £150 a time, putting me in a circle of debt. I have sent my case to the FOS under the hardship rules after HSBC did not want to help me. The FOS say they agree with the bank. the problem seems to be that I moved the debt so as to put an end to it inceasing any further, sot he debt is held with another company (I switch current accounts too) but as there is no debt with hsbc right now, they owe me zero. is that right?!

natweststaffmember

littleeff wrote: »

I need some advice please, I hope someone can help me. HSBC charged me over £K's over a number of years for exceeding my overdraft, up to £150 a time, putting me in a circle of debt. I have sent my case to the FOS under the hardship rules after HSBC did not want to help me. The FOS say they agree with the bank. the problem seems to be that I moved the debt so as to put an end to it inceasing any further, sot he debt is held with another company (I switch current accounts too) but as there is no debt with hsbc right now, they owe me zero. is that right?!

They still owe you the charges but you will have to wait on that account for the conclusion of the OFT test case issues.

littleeff

thank you for the advice. its just that in the FOS letter they say:

"I should point out that a banks obligations to act positively and sympathetically to consumers in financial difficulties only apply to those consumers who have an account with the bank and who owe some debt to it."

as if to say, i should have stayed in the awful situation and not got myself out of it by changing banks I was shoclked at this!

It implies that I dont have any rights to challenge the past charges... I guess i have to wait for the OFT test case result.