Reclaiming while in a payment arrangement

captainhaggis

Hi all,

Bit of a spanner in the works here.

Can one go through the process of trying to reclaim bank charges and credit card charges if one has effectively breached the terms of the initial agreement and is in a reduced repayment arrangement with the creditor?

Is trying to have these charges re-paid likely to make the creditor look less favourably on you when you're trying to re-arrange your payment arrangement and will they make life more difficult for you in the future?

Thanks

natweststaffmember

captainhaggis wrote: »

Hi all,

Bit of a spanner in the works here.

Can one go through the process of trying to reclaim bank charges and credit card charges if one has effectively breached the terms of the initial agreement and is in a reduced repayment arrangement with the creditor?
Yes cos it will reduce your overall indebtedness(definitely with the credit card).
Is trying to have these charges re-paid likely to make the creditor look less favourably on you when you're trying to re-arrange your payment arrangement and will they make life more difficult for you in the future?
If the debt is reducing then they shouldn't want to be obstructive.
Thanks

Hope the answers prove useful to you.

Ralphy101

Same question really

HSBC offered me a temp increased overdraft to stop the charges, (after i sent it the letter) They stated I am not classed as in hardship as i have a payment plan in with my debitors. ?

I am happy with the temp overdraft however i still wanna claim, and its kind of put me off pursuing it, because they have this overdraft hold over me, could they reduce it even though i pursued the claim?

natweststaffmember

Ralphy101 wrote: »

Same question really

HSBC offered me a temp increased overdraft to stop the charges, (after i sent it the letter) They stated I am not classed as in hardship as i have a payment plan in with my debitors. ?

I am happy with the temp overdraft however i still wanna claim, and its kind of put me off pursuing it, because they have this overdraft hold over me, could they reduce it even though i pursued the claim?

Pursuing it in what way? If they have acknowledged your claim then your claim will be repaid on the conclusion of the OFT test case.

Ralphy101

natweststaffmember wrote: »

Pursuing it in what way? If they have acknowledged your claim then your claim will be repaid on the conclusion of the OFT test case.

Pursuing the hardship route

captainhaggis

natweststaffmember wrote: »

Hope the answers prove useful to you.

Thanks NWSM! Great information.

Now, another question to put a slightly different spin on things.

I'm in the process of offering my creditors full and final settlements to clear my debts and have my accounts closed. After I've done that, would I then be able to go after the refunds of fees and PPI and, if so, what would happen to the money?

Because the accounts have been closed and marked (hopefully) as satisfied, would the refunds go to me?

I ask because a friend is lending me the money to make the F&Fs and I'd dearly like to use the refunded charges to re-pay him.

Thanks again

natweststaffmember

If you offer F&F and later go back for the charges then they have every right to offset it against the debt owed.
The PPI is different which you can reclaim regardless.

captainhaggis

Thanks again. So I can wave goodbye to charges but PPI is quite possibly reclaimable (new word!)