reclaiming charges etc

zoelouise88

i am in debt with the bank by £1500 and im getting charge almost £30 a month in interest, i want to claim bank all bank charges.
Is it to late to do start claiming now? will me owing them money make any difference to my claim?

zoelouise88

zoelouise88 wrote: »

i am in debt with the bank by £1500 and im getting charge almost £30 a month in interest, i want to claim bank all bank charges.
Is it to late to do start claiming now? will me owing them money make any difference to my claim?

aslo what can i claim can i claim interest and charges or just charge? (i am unemployed atm)

barloo69

zoelouise88 wrote: »

i am in debt with the bank by £1500 and im getting charge almost £30 a month in interest, i want to claim bank all bank charges.
Is it to late to do start claiming now? will me owing them money make any difference to my claim?

NO !!! It is no way too late. Your situation v similar to mine. The fact that you are in debt with the bank should have no effect on your ability to make a claim against them for past charges. Lets not forget the fact that these charges are deemed unlawful.

If however your bank start to make life difficult for you for the o/s debt, then Im sure other people on here will agree with me that you will have a very strong and seperate case for them being unfair and unreasonable.

Read the thread at the top step by step guide to reclaiming bank charges. In my opinion start off asking for ALL the charges plus interest ? What have you got to lose ? You can always barter with them later if you want.

Good luck.

(P.S. I perservered with my bank and I had 1.5k overdraft. I got back over 900 GBP in charges in a cheque after three letters.):rotfl:

emweaver

In some cases the banks have called in the debts and closed the accounts when people have reclaimed charges

natweststaffmember

emweaver wrote: »

In some cases the banks have called in the debts and closed the accounts when people have reclaimed charges

Since when? The FSA Waiver on Bank Charges since July 2007 have prevented this type of behaviour.

emweaver

I dont know since when but remember reading it on here somewhere written by Martin

emweaver

Your relationship with that bank may suffer
Reclaiming can’t hit your credit rating and won’t go on your credit file. Yet the bank you reclaim from can keep its own record, and it may choose not to deal with you in future.
There is also a very small chance you'll be moved to a basic account or be asked to return your cheque book and have other restrictions placed on your account. If this restricts your day to day finances it may be worth opening an alternative account. See Best Bank Accounts.


On rare occasions your account may be closed
When reclaiming first started, it was common for banks to close down customers’ accounts when they paid out. Yet after complaints, this has almost stopped. The FSA now says: “A firm must not close accounts or threaten closure when it might reasonably appear that this is for the purpose of penalising customers that have complained about unauthorised overdraft charges.”Yet, to be completely safe, it may be worth opening an alternative, or ‘parachute’, account with another provider before you start.

natweststaffmember

emweaver wrote: »

Your relationship with that bank may suffer
Reclaiming can’t hit your credit rating and won’t go on your credit file. Yet the bank you reclaim from can keep its own record, and it may choose not to deal with you in future.
There is also a very small chance you'll be moved to a basic account or be asked to return your cheque book and have other restrictions placed on your account. If this restricts your day to day finances it may be worth opening an alternative account. See Best Bank Accounts.


On rare occasions your account may be closed
When reclaiming first started, it was common for banks to close down customers’ accounts when they paid out. Yet after complaints, this has almost stopped. The FSA now says: “A firm must not close accounts or threaten closure when it might reasonably appear that this is for the purpose of penalising customers that have complained about unauthorised overdraft charges.”Yet, to be completely safe, it may be worth opening an alternative, or ‘parachute’, account with another provider before you start.

Some of the minutiae on the reclaiming charges guide does need updating.
"(18)
the firm must not close accounts or threaten closure of accounts of customers when it might reasonably appear that this is for the purpose (or with the intent) of penalising customers that have complained about unauthorised overdraft charges for having complained, or deterring future complaints from these customers or others. For the avoidance of doubt, the firm may close accounts or threaten to close accounts where there is good justification for doing so based on the circumstances of the particular case;"
That is from the FSA Waiver Page 7. It's on my signature.

Mark7799

zoelouise88 wrote: »

aslo what can i claim can i claim interest and charges or just charge? (i am unemployed atm)

You cannot claim interest

natweststaffmember

Mark7799 wrote: »

You cannot claim interest

You can ask for interest on the charges itself. There is a calculator in Martin's charges guide.

zoelouise88

thanks for the advise all you have all been very helpful