BR and recaliming bank charges - can I keep the money?

lizandalfiecat · 16 August 2009 at 3:17PM

Hi
Been in reclaiming forum, think I have a good case for reclaiming due to financial hardship. NatWest have been very aggressive with bank charges, even when challenged by ombudsman! Likely to be about £400-600 if I succeed

Not BR at mo, made token payment ofer to creditors, waiting to hear if they will accept. BR possible option in a few months time (Thanks to everyone who had posted PM'd whle I worked all that out with CAB & CCCS!)

Morgaged home, no central heating (broken beyond repair, no grants/trust money etc avaialbe - tried em all, have to find money myself - no lending options as current income below whats needed for "essential" living expenses)

Doing everything I can to up income at mo, but not reaching basic living expenses yet... And yes, I know and have considered loosing home and going to rented etc, but not best option at moment from prof. advice

What happens to the reclaimed money if I am successful?

Would lke to use reclaimed money to try to get some hot water & heat (did last winter with none at all :eek:) but don't know if this would be allowed or I will get into trouble at a later date for not using it to repay any debts.

Suggestions/advice please?

Thanks folks
Lizzie x

peppa-pig · 16 August 2009 at 3:23PM

If you claim and receive before BR you can keep it but you will need to explain to the OR where the money went, so be careful how you use it. Perhaps it could be towards new boiler and BR fees?

After BR the accounts are no longer yours so the money belongs to the OR as the accounts are now all theirs.

I think it mainly depends on how much are you talking about?

peppa-pig · 16 August 2009 at 3:25PM

I see you edited your post as i was replying. I think if its 400-600 the probably most would be spent on getting the heating/water fixed? I think this is acceptable essential spending as everyone is entitled to hot water and heating.

lizandalfiecat · 16 August 2009 at 4:55PM

Thanks for the comments!
I thouht that common sense may prevail, and that if it was used before BR on getting heat & hot water, then this would be OK, as I felt it is essential to have this in your home!

Like I said, the central heating is beyond fixing (condemed and 35 + years old), it has to be replaced, so the entire sum from reclaiming would be used for this I hope

Thanks again
Lizzie :T

skylight · 16 August 2009 at 4:58PM

Spend it before you go BR as your OR will want it. You will not be able to claim after BR as you will no longer own the accounts (so to speak). So try to get it in and spent before BR.