Im BR, but can i reclaim excessive bank charges?

Martin1892

Just thinking out loud, but is it possible to reclaim bank charges from banks after you have been declared BR?

It would be the ultimate irony, if, after going bankrupt whilst owing HSBC 15k, i could turn around and get them to write ME a cheque for the excessive bank charges they hammered me with over the last 5 years!

Of course, this money would probably go straight to the OR, not to me, so if its possible it might be worth waiting until i have been discharged.

Has anyone actually tried this?

beentheredonethatstilhere

No you can't I am afraid, those accounts now belong to the OR not you. If you were to pursue it then the money would go straight to the OR to pay his wages The money would go to the OR even after discharge.

Martin1892

Oh well, i guess it was a nice thought. Im suddenly feeling very empowered since i filed for BR. A bit like The Mouse That Roared

beentheredonethatstilhere

It's amazing how it releases you isn't it. Though it is a bit of a rollercoaster.

sniggings

it sort of makes sense to think you could reclaim them,I must admit it did cross my mind:rotfl: but I just think that the trade of is any pre BR debt is inclued in your BR and think this out weighs any possible bank fees you have paid.

anyway how much would you think you might have paid in fees?I guess mine is about £3000 maybe(is it over 3 years)

Martin1892

sniggings wrote: »

it sort of makes sense to think you could reclaim them,I must admit it did cross my mind:rotfl: but I just think that the trade of is any pre BR debt is inclued in your BR and think this out weighs any possible bank fees you have paid.

anyway how much would you think you might have paid in fees?I guess mine is about £3000 maybe(is it over 3 years)

My BR covers about 25k of my actual debt although the final figures being quoted by the debt collection agencies total a MUCH higher amount, about 40k (Is this kind of an inflated figure normal??). Anyway, having reviewed my statements i would think that I would have been in line for £1500 back over a period of 4 years.

So yes, as you say, going BR is a massive weight lifted and i wouldnt swap it for the £1500 but ho hum... I thought i was onto a winner for a second there :rotfl:

sniggings

about the inflated amounts ,yes i think they do up the debt a bit as one of my loans was for £20,000 about 5-6 years ago but they have said i still owe them £25,000:rotfl: i think they must have be adding my payments to the loan instead of taking them off the amount:rotfl:

Martin1892

sniggings wrote: »

about the inflated amounts ,yes i think they do up the debt a bit as one of my loans was for £20,000 about 5-6 years ago but they have said i still owe them £25,000:rotfl: i think they must have be adding my payments to the loan instead of taking them off the amount:rotfl:

I guess its what DCA's do to recoup a higher percentage yield on debts that they are buying for pence in the pound. After all, im sure if i came into a large amount of cash pre BR, phoned my creditors and offered a full setlement instantly at 50% of the outstanding amount they would snap my arm off. Hence the 'padding' of the bill.

Similarly, in the event of BR, creditors can claim a larger slice of the proverbial pie. Of course in my case that means that they can all fight for a share of the £2.34p in my Lloyds TSB account :beer: