Endless charges

currumbawumba

Hi, I posted for the first time earlier today and my debt situation is very much on my mind. The main thing that really makes the difference as to whether I can keep up with all my payments is keeping my bank account healthy. I feel kicked when I'm down by my bank. Not only do they charge me when they pay direct debits without sufficient funds and charge me when they refuse to pay, but they then charge me AGAIN for going over my overdraft! Obviously, I should make sure there is always enough in there, but sometimes I make mistakes and boy, do I pay! Repeatedly! Which then reduces the amount of money I have to pay my bills. Having been charged about £100 so far this month, they will charge me £65 next month, so I wonder where I'm going to find that money to pay the credit card bills which didn't get paid, which I got charged for, etc. etc....The bank must love me.

zincoxide

You need to visit https://www.bankchargeshell.co.uk

And find out how to get all these charges back - some people have got thousands back using the advice - I'm waiting for a response from my bank about it!

zincoxide

Oh - and you may want to read up on this thread

http://forums.moneysavingexpert.com/showthread.html?t=115112

farquarpigmix

I have been charged before for not having enough money in account. Will I be able to claim it back or am I reading it wrong? Please advise.

pcyam

Since working in a bank I have learnt way around avoiding charges (wish I knew about all these when I was a student :0( - so I hope this helps.

And it all depends on the situation your in, firstly if you have direct debits on the account, I suggest you have 2 accounts, one as you main spending account where your salary goes in and the 2nd one as your bills account (direct debits, standing orders, food, petrol etc etc). Your salary goes into a/c no1. and change all your DD/so over to a/c no2. work out how much your dd/so are and set up a s/o from a/c1 to a/c no2. therefore you dont need to worry about not having enough money in the account to cover your bills, everything else in a/c no1 is for u to spend throughout the month.

Change all Standing orders at the bank so they come out after you've been paid, for Direct debits these can only be changed by the companies, so you'll need to contact them directly. Or cancel any direct debit/standing orders and pay yourself at the bank, people etc yourself (but you cant afford to be forgetful if you do this).

rather than using debit cards in shops use cash then you know exactly how much you have, because when using card in shops money is not taken straightaway (and I have seen alot of people get into trouble becasue of this, especially during xmas time, they check how much money is their account today and it says £50 use in shops and then check again tomorrow and still says £50 and forgets they have used in shops so another spend £50)

Some banks in branches will reverse the charges, but some wont especially if you know why, and agressive or rude. But I have found that when i tell people to that you can get charges reversed if you call on the phone.

Ask if you can have an overdraft on the account just a small one, so if you every do go in the red you'll be charged pence rather than pounds, but dont live in it as you dont want to get use to having one, only use it as an emergency so dont see it as you money to spend.

Citizen Advice Bureau are also a VERY good source, if you are in trouble even if its the smallest bit of debt they are very good in getting charges reversed for people. (My friend said they helped him alot)

Good luck and if i can help just PM me, the people in debt department are really helpful where I work.

currumbawumba

Thank you all. It's great to be sharing this and to feel supported in taking positive action. I know in the long term there are things I can do to improve my income/outgoings, but essentially I need to get back all the £100's I've let the bank take from me when I can ill afford it. It leaves me feeling shamed and powerless, but that's going to change. I will start with a polite firm letter to the bank requesting they be more reasonable and if that doesn't work I will take them to court. Ha!

farquarpigmix

Hi Zinc,

Still lost in all this. Can I claim back all the charges the bank has charged me over the past few years or only for so long?

Am trying to read it but not yet sinking in. Wish I could read. All help very much needed.

lynzpower

one bit of advice i would offer to anyone who gets stung by these charges as I used to all the damn time, is get your direct debits rigged up so they go out the day after payday

roswell

get the over draft limit increased ... it wil be cheaper to pay interest on a higher amount than £100 everytime a payment fails .... but make sure you dont LIVE in the over draft use it as a cushion