Student Account and Reclaiming my Unfair charges

Kevicho

I have been going through a thread recently regarding the illegal bank charges and have gone through my statement and have gathered all the information/letters etc i need to try to reclaim this from the bank

The only thing stopping me at the moment is that i have a 1K overdraft on a student account, which i am paying off at £50 a month (best i can do at the moment)

I have negotiated a couple months of the limit (i will be transferring this to egg card when my anniversary arrives in 2 months time) so for the time being i want to leave that account as it is

My basic concern is that if i send this letter off, the bank may retaliate by killing this overdraft or worse sell on the debt ( i just recently got the normal account in question back out of the overdraft and into credit)

Could (and would) the bank do this?

After working out interest on the account they owe me £430 (+ any costs), which would really help my situation so i want to go ahead with this asap as my first charge was 31st Jan 2000, so i have 19 days to write before this is lost in the ether.

Is it worth ther risk? Would i be better off transferring now (egg is 2.9% at the mo) seen as though i would be able to pay off almost half if i win?

Any advice would be gratefully appreciated

Cheers

Kev

Rafter

Kev,

They could call in the overdraft at any time so sounds like it might be a risk.

You may have to be quick too. If the OFT rule that the charges are fair but just rule they have to be at a lower level, or warnings have to be clearer, then you may find yourself stuck.

It is only because the banks don't want a sympathetic judge to set a nasty prescendent than they aren't challenging these cases and are refunding charges.

R.

Kevicho

Thanks, im going to send off the stuff tommorrow and arrange the transfer as well

It makes sense to me anyways