Help needed***

FYI_2

I need to write a letter of financial hardship to my bank but I have no idea how to go about it or what to say.
I would like to make a claim for a full refund of all the charges they have extracted from my account.

natweststaffmember

FYI wrote: »

I need to write a letter of financial hardship to my bank but I have no idea how to go about it or what to say.
I would like to make a claim for a full refund of all the charges they have extracted from my account.

First things first, have you got your list of charges that you are reclaiming?

Do you priority debt arrears(mortgage/rent, council tax, utilities)?

FYI_2

natweststaffmember wrote: »

First things first, have you got your list of charges that you are reclaiming?

Do you priority debt arrears(mortgage/rent, council tax, utilities)?

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It all started when I went overdrawn by £20. The usual charges went through but I did not have the funds to cover these so they began charging me everyday. It escalated to £200+ which I was paying back per a agreement of £10 per month but their interest charges caused me to overdrawn yet again and I had almost paid it all back so they began charging me so I had to call them again and rearrange another agreement of £10 per month plus another £5 to cover their interest charges. After a few payments I had to call them again and explained to them, once more that I was in financial hardship and my only source of income was my state benefits so they said they would freeze the interest but I would have to continue to pay £10 per month until the debt was cleared. I can no longer offord this as my debt now stands above £600.
I am due to make another payment on the 10th but I am struggling to make ends meet.

natweststaffmember

FYI wrote: »

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It all started when I went overdrawn by £20. The usual charges went through but I did not have the funds to cover these so they began charging me everyday. It escalated to £200+ which I was paying back per a agreement of £10 per month but their interest charges caused me to overdrawn yet again and I had almost paid it all back so they began charging me so I had to call them again and rearrange another agreement of £10 per month plus another £5 to cover their interest charges. After a few payments I had to call them again and explained to them, once more that I was in financial hardship and my only source of income was my state benefits so they said they would freeze the interest but I would have to continue to pay £10 per month until the debt was cleared. I can no longer offord this as my debt now stands above £600.
I am due to make another payment on the 10th but I am struggling to make ends meet.

So that's not financial hardship. However, I would open an account elsewhere and have your benefits paid into that account so that the bank doesn't take your benefit money.

FYI_2

natweststaffmember wrote: »

So that's not financial hardship. However, I would open an account elsewhere and have your benefits paid into that account so that the bank doesn't take your benefit money.

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Why is that not financial hardship?

natweststaffmember

FYI wrote: »

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Why is that not financial hardship?

Priority debt arrears---are there any?

FYI_2

natweststaffmember wrote: »

Priority debt arrears---are there any?

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What do you mean exactly?

natweststaffmember

FYI wrote: »

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What do you mean exactly?

it;s in post 2. Do you have arrears(owe money/are behind) on mortgage/rent, council tax, utilities?

FYI_2

I owe £700 on utilities, 4 weeks behind in rent and have a loan that I am still paying off.

natweststaffmember

FYI wrote: »

I owe £700 on utilities, 4 weeks behind in rent and have a loan that I am still paying off.

ok., loan is non priority debt because the worst case scenario doesn't see you cut off, lose your liberty or lose your home. The others are priority debt arrears.
How far are you in the process? Have you sent the first letter yet asking for repayment under financial hardship?

FYI_2

natweststaffmember wrote: »

ok., loan is non priority debt because the worst case scenario doesn't see you cut off, lose your liberty or lose your home. The others are priority debt arrears.
How far are you in the process? Have you sent the first letter yet asking for repayment under financial hardship?

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I have not sent a letter to them yet, I wanted to be sure what to write and if I qualify and what to expect.