Newbie worried about consequences

south_west_convert

Hello,

I am one of those sad people who have kept all my bank statements and actually have about 16 years worth. Since 2001 when it appears you can claim for bank charges I reckon I must have accrued about £2-3000 worth of charges on my current account from HSBC.

My concern is that both myself and my wife also hold a joint account with HSBC, a joint loan, credit cards each and a joint mortgage with them.

If I was to make a claim for my previous bank charges would my wife be affected, could they close our accounts or mortgage?

Any advice????

Tozer

It is not from 2001. It is a 6 year limitation.

south_west_convert

"the FSA, has said it ‘stopped the clock’ on 27 July 2007, when it first put the hold on reclaiming and that this has frozen any ‘time bars’."

If my understanding is correct this means I should be claiming from 27 July 2001.

Tozer

That is the FSA issue. It does not override the Limitation Act if you proceed via the Court route.

south_west_convert

OK, even so I think the majority of my charges still fit into the last 6 years category.

Do I have anything to worry about from my bank if I make a claim, given all the accounts and in particular mortgage I hold with them.

Edinburghlass_2

The "stop the clock" referred to claims that were already in the process so you would have had to already have started a claim. Any claim you make shouldn't affect any other products you hold with the bank and if they did make noises about it you would be able to complain to the FO.

DotingDad

Edinburghlass wrote: »

The "stop the clock" referred to claims that were already in the process so you would have had to already have started a claim. Any claim you make shouldn't affect any other products you hold with the bank and if they did make noises about it you would be able to complain to the FO.

Just to clarify do you mean already in the court process or already in the process as in initial claim letters had been sent to the banks?

One could argue that a letter to the bank quantifying charges is "starting a claim."

cheekylilbint86

i am so confused by all this!!i was in full-time employment when i opened a gold account with natwest in order to get a loan which was then declined.the account cost £12 p/m but i then left my job to help with the family business and cover for my mum who had broken her shoulder in 2 places.as i was no longer earning more than basic living expenses i did not put any money into the accoubt so each month for the past year i have been charged £12 (which went upto £12.95 p/m after a while) PLUS £28 in bank charges for not having the £12/£12.95 in the account.i have never put any money into or taken any money out of this account but i now have triton credit services trying to claim over £500 from that i "owe" natwest.as i am now unemployed due to illness and my mothers business has gone bankrupt i am expected to pay £40 a month (out of the £190 i am recieving in esa) towards what i "owe".could somebody please explain this "stop the clock" thing to me?does it mean that as i haven't already made a claim i will now not be able to do so??if this is the case then i am paying natwest over £500 for absolutely nothing!!!any help on this matter will be gratefully recieved.thank-you.

south_west_convert

From what I now understand, as Edinburghlass says the stop the clock refers to claims that were already in the system. Therefore if you haven't yet put a claim in then any claim you now make goes back a maximum of 6 years from the date that you make it. From the sounds of it your charges are within the last 6 years so would not stop you making a claim.

natjeeling

Hi
I have just opened an account with Natwest and used their switching service which was fine, however I inadvertantly had a direct debit that went out that I needed to cancel. This took me £35 overdrawn, so this bounced as i don't have an overdraft, but they charged me £38!!! and this has taken me £23 overdrawn.
I don't know whether I should complain or not. I understand that I am liable for a charge but I thought that most banks had reduced this to £12 now.
I have a really poor credit rating and don't want start switching banks, does anyone have any advice?

DotingDad

natjeeling wrote: »

Hi
I have just opened an account with Natwest and used their switching service which was fine, however I inadvertantly had a direct debit that went out that I needed to cancel. This took me £35 overdrawn, so this bounced as i don't have an overdraft, but they charged me £38!!! and this has taken me £23 overdrawn.
I don't know whether I should complain or not. I understand that I am liable for a charge but I thought that most banks had reduced this to £12 now.
I have a really poor credit rating and don't want start switching banks, does anyone have any advice?

In the first instance explain on the phone that it was a genuine error because of the direct debit (DD) you forgot to cancel (offer to send a copy of the letter you sent subsequently cancelling it) during the changing process and if you are lucky, because it was an isolated incident, they might just waive the charge as a goodwill gesture given that you are a new account holder and such things can happen in those circumstances.

In the meantime pay in to put the account back in credit as soon as possible to prevent any other DDs making the same thing happen again.

If they are unreasonable to your initial approach then download a template letter from this site and send it in recorded delivery to the Nat West Registered Office to get your claim into the system.

Then sit tight and wait like the rest of us!