Does redundancy automatically mean I'm in financial hardship?

ganonman

I probably could reclaim a couple of thousand or more in charges since July 2001. And due to the charges causing charges cycle effect I still have them mounting.

I've just been given notice of redundancy, and I want to know a couple of things.

1) Does redundancy automatically mean I'm in financial hardship?

2) If I am in a redundancy notice period, can I successfully reclaim under financial hardship rules before I actually have no job?

3) The charges are stopping me from being able to repay my debts in any meaningful way as I acquire charges every month nomatter how hard I try, due to charges. Regardless of redundancy, is not being able to avoid charges reason enough to claim as financial hardship?

Thankski

natweststaffmember

No is the answer.
on question 2. You can ask the question
3. yes on that one but priority debt arrears(mortgage/rent,council tax, utilities) would be criteria looked at.

ganonman

Who decides?
Me, the bank, the FSA or the Ombudsman?

natweststaffmember

ganonman wrote: »

Who decides?
Me, the bank, the FSA or the Ombudsman?

The bank which you should give an income and expenditure form(household), notices of arrears and the letter with schedule of charges.
If the bank say no you can ask the Ombudsman to review the way that the bank have dealt with the financial hardship part of your claim.

Under financial hardship, the bank DOES NOT have to refund even 1p of the claim but where the charges have contributed towards it, they can offer to make a refund to the account which can range from 1% to 100% of the claim.

ganonman

Thanks for the info.

I think the final irony is that the bank I want to reclaim from and is keeping me, in my opinion, in financial hardship, is the same bank that is making me redundant. :rotfl:

You've got to laugh really, otherwise it would be so depressing :doh:

natweststaffmember

ganonman wrote: »

Thanks for the info.

I think the final irony is that the bank I want to reclaim from and is keeping me, in my opinion, in financial hardship, is the same bank that is making me redundant. :rotfl:

You've got to laugh really, otherwise it would be so depressing :doh:

DId you work in any department which might have some juicy titbits ?

ganonman

Unfortunately, nothing that I can think of that would be particularly helpful on this site currently.

Although I have helped answer questions in the forums on this site in the past, and will continue to do so. :j

One thing I would say to people though, is that quite a few bank employees do feel bad for putting charges on peoples accounts, etc, and don't necessarily agree with them. They just have to say they do, otherwise they'd get into trouble.

natweststaffmember

Can you edit out the first line of your post(since I have read it) and we do not want to let your bank identify )