Can businesses reclaim?

LucyTheDwarf

A friend owns a business which is seriously struggling - being taken to court over massive tax bills, and wonders if he could reclaim bank charges. He had about £7000 of charges last year for DDs and cheques bouncing (£35 a go), and also £15 for every day he was over his overdraft.

Anyone been in a similar situation? Also, would the "financial hardship" definition apply to a struggling company? He also has about £150k of loans outstanding with this bank, and a £30k overdraft.

LucyTheDwarf

The loans aren't the problem - these are fine.

It's his normal DDs and cheques bouncing that are causing his current account charges to be massive - £35 per unpaid item, and £15 a day for being over teh agreed overdraft.

LucyTheDwarf

I'm 22. I could not own a business even if I wanted to. I did not ask for criticism, nor accusations that I am lying, nor judgement; just the answer to a simple question: can businesses reclaim, or just individuals?

You're right, he has not managed his money well, however many businesses in this particular industry are having the same problem (do you not watch the news?). That is not for any of us to judge. I am merely trying to find out information that might help him. He needs cash desperately, or will not survive, and I pity his young family and his employees.

If you have nothing better to do with your time than to judge those who ask for help, I pity you also. Get a life.

jennyo

LucyTheDwarf wrote: »

A friend owns a business which is seriously struggling - being taken to court over massive tax bills, and wonders if he could reclaim bank charges. He had about £7000 of charges last year for DDs and cheques bouncing (£35 a go), and also £15 for every day he was over his overdraft.

Anyone been in a similar situation? Also, would the "financial hardship" definition apply to a struggling company? He also has about £150k of loans outstanding with this bank, and a £30k overdraft.

I have reclaimed charges on our business account, business accounts arenot covered by the "stay", so he may be lucky and get it sorted quickly like I did. I sent my first letter to the back requesting the money on the 22nd Jan, the money was in my back on the 13th Feb, I asked for £3496, they offered £2652, which I accepted, have now put another claim in for my husband on his business account. much smaller amout as it closed 5 years ago.

Get your friend to give it a go using the template letters, hope it works out for him.

LucyTheDwarf

Thank you, I'll let him know it's a possibility.