Bank Charges Financial Hardship Disussion

Nathan_Spleen

MSE_Wendy wrote: »

I've checked with the FOS and it's policy is to deal with each complaint on a case by case basis rather than apply the same formular to all. So some may get 50% of charges for one year, some may get 50% of charges for the full six years and some may even get the full amount.

The FOS also said if someone wants to accept a partial settlement it's worth making it clear to the bank that the rest of the complaint is still on hold until the test case ends - which is what the FOS do for their cases - and not to accept anything as full and final settlement if they don't want to.

The conditions of the waiver specifically state that partial offers should not be made as full and final settlement and not be considered as such pending the final outcome of the test case.

http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/disp_monthly.pdf

(16) if the firm attempts to resolve a relevant charges complaint after 27 July 2007:

(a) the firm must not seek agreement from the complainant that the resolution is in full and final settlement of the matter;

(b) in relation to such complaints, if the outcome of the test case produces a result that is more favourable to the complainant, the firm must take all reasonable steps to pay any difference in the amount of compensation actually received by the complainant and that that the complainant would have been entitled if his claim has not been settled by the firm then; and

(c) the firm must explain the implications of its approach and commitment;

poorrelly

Hi all,

I started a claim for unfair bank charges against Natwest on hardship grounds, I sent a financial statement and list of charges. They sent me a letter saying that "In accordance with our agreement with the FSA we are obliged to review accounts to establish if customers may be experiencing difficulty meeting their financial commitments"...ok so far.
They sent a "customer financial statement form" and requested I sent "an explanation of the circumstances leading to your inability to meet your commitments"...Starting to feel a little rocky now.
They then went on to say that once done they would review my overall financial position and if they consider that my case can be considered as financial hardship, they will take it forward "...in line with their hardship policy, which aims to help avoid further debt and to assist me in recovering from financial hardship. As part of this they will review my current banking facilities, which may involve:
-opening a new account or changing account to type with no lending facilities
-cancellation of non-essential DDs and SOs
-return and cancellation of cheque guarantee/maestro cards - though a cash card may be used on the new account.
-return and cancellation of cheque books
-income to be diverted to any new accounts opened
a mutually agreed sum would be set up on a standing order from the new account to any debt on the existing account

They go on to say that recognition of financial hardship does not necessarily indicate that a refund of the charges will be made.

Where I'm at now - I sent their customer financial statement and supporting letter stating why I think I am in financial crisis...(it is mainly due to the fact of being on SSP), I did write at top of letter "without prejudice".

Second letter from them on receipt was from a different person asking me to breakdown monthly expenditure of £20 per month on repairs and upkeep (this in itself not a problem) and to confirm whether arrangements are in place to repay my priority debts.

Are they taking the mick?
If I allow them to change my bank account and so on, they will have first dibs on my money to pay them bank, if they pay back even half the charges this would cover more than the my overdraft.

I am slightly confused now and just need reassurance now, should I press on with the letters as in Martin's bank charge reclaim file or just continue with this stuff and hope that they do consider my claim in due course?

If anyone can help sort out my muddle I would be very grateful

poorrelly

Hi all,

I started a claim for unfair bank charges against Natwest on hardship grounds, I sent a financial statement and list of charges. They sent me a letter saying that "In accordance with our agreement with the FSA we are obliged to review accounts to establish if customers may be experiencing difficulty meeting their financial commitments"...ok so far.
They sent a "customer financial statement form" and requested I sent "an explanation of the circumstances leading to your inability to meet your commitments"...Starting to feel a little rocky now.
They then went on to say that once done they would review my overall financial position and if they consider that my case can be considered as financial hardship, they will take it forward "...in line with their hardship policy, which aims to help avoid further debt and to assist me in recovering from financial hardship. As part of this they will review my current banking facilities, which may involve:
-opening a new account or changing account to type with no lending facilities
-cancellation of non-essential DDs and SOs
-return and cancellation of cheque guarantee/maestro cards - though a cash card may be used on the new account.
-return and cancellation of cheque books
-income to be diverted to any new accounts opened
a mutually agreed sum would be set up on a standing order from the new account to any debt on the existing account

They go on to say that recognition of financial hardship does not necessarily indicate that a refund of the charges will be made.

Where I'm at now - I sent their customer financial statement and supporting letter stating why I think I am in financial crisis...(it is mainly due to the fact of being on SSP), I did write at top of letter "without prejudice".

Second letter from them on receipt was from a different person asking me to breakdown monthly expenditure of £20 per month on repairs and upkeep (this in itself not a problem) and to confirm whether arrangements are in place to repay my priority debts.

Are they taking the mick?:eek:
If I allow them to change my bank account and so on, they will have first dibs on my money to pay them bank, if they pay back even half the charges this would cover more than the my overdraft.

I am slightly confused now and just need reassurance now, should I press on with the letters as in Martin's bank charge reclaim file or just continue with this stuff and hope that they do consider my claim in due course?

If anyone can help sort out my muddle I would be very grateful

xlesleyann

xlesleyann wrote: »

I am claiming under financial hardship from the Halifax.

I received a letter today saying they acknowledge it and I should contact national debtline and that my case will be put on hold awaiting the outcome with OFT.

What do I do next as I thought they had to deal with it as I am claiming under financial hardhsip??

Can anyone give me any advice as to what my next step should be please?

TIA

moneymoneyguy

Hi

I have a friend who i am trying to claim back his bank chrges from Co-operative bank and have written numerous letters and made numerous phone calls to them but seem to be getting no where, I spoke to them on Tuesday about this and basically was told in no uncertain terms that he would be getting nothing, I asked them to send me a letter confirming that they believe he is financial hardship but they will not refund anything back, i am going to then write to the FSA and tell them that i dont think the Co-operative bank are being fair, can ayone on here let me know if you have received a refund due to a Financial Hardship claim???

Regards

moo_cow

hi, i've been going back and forth with Lloyds Tsb for 6 months and have asked them to look at my claim again and again due to financial difficulties. They constantly reiterate the test case and have told me there is no point in contacting them again. i've kept all correspondance from them by the way. we are in severe financial difficulties with mortgage arrears and secured loan arrears. we have several borrowings with them which they have already had to reduce as we can't pay them. We had a one to one meeting with the bank manager a couple of months ago and he sat there smiling telling us he'd never heard of the financial hardship element of reclaiming. I was furious.
Is there anywhere else I can go with this? i'd be very grateful if anyone could give me any pointers.
I successfully reclaimed for both my neighbours with the Halifax, but on my own case with Lloyds they are refusing to budge..................

catmiaow

debs30 wrote: »

I think Halifax are awful to claim back against.I put my claim in last year then a few months back wrote asking my case to be looked at under financial hardship.I have had to fill in the forms twice and now they have wrote saying that my monthly income is more than what i put down but its not.I have sent a letter back saying they should know what my income is as it goes in my bank everyweek so i will wait and see.

Agree with you on this. Halifax are the worse bank ever.:mad:

debrag

I am thinking of claiming from TSB & Nationwide. I currently have a case against Nationwide but am being charged £200 odd a month in charges.
I have debts of over £9k, live in a shared house with no heat, am on a DMP and have no money left over each month - could I qualify?

beelzebomb

Sorry, but I feel somewhat mislead by the initial excitement of thinking that I could still claim via the financial hardship route - I did so & had my case agreed by the FO & Nat West.
The outcome? Nothing - the bank is still apparently not obliged to pay out - so can someone tell me exactly what the point of filling in all those income forms and the load of letters I've had to send & receive to get this far? This far being exactly the same position I was in BEFORE going through the hardship route - pointless.

alams

Hi every one and hello Wendy!!

Ive received a letter from Barclays yesterday and they'e now offered to refund 50% of charges incurred over the last four years (£747) :T . My original claim is four £1860, but I suppose its going good, but ive rang them up yesterday telling them im still not happy with their offer. I am a fulltime student and am in genuine hardship. Awaiting response!!!

Will keep u all updated!! Good start from capital one aswell!!

Regards