Can I reclaim authosied overdraft charges as hardship?

Michelle-conchita

Hi there

I am very new to all of this and would love some help and advice.

I would like to try and reclaim my authorised overdraft charges but don't know if I would be able to as have never actually gone over my authorsied limit. I have just kept upping and upping it so now I am always in the red even when I pay myself any wages. I cannot afford to pay much off each month to get rid of it and if I got the charges back would clear it once and for all.

I also have borrowed money from family memebers which I am paying back as not to have to borrow more on my overdraft.

I run a small business and as you can all imagine our sales have gone down 35-45 % with the recession.

The bank account that I want to claim the charges back from is not my business account it is my personal one - my business ones are with another bank.

Any help anyone could give me would be much appreciated to let me know if it is worth writing to them and what I would need to write about the hardship part as a bit confused all round.

Many thanks for reading this and any help or advice that anyone can give me.

Kind regards
Michelle

natweststaffmember

Michelle-conchita wrote: »

Hi there

I am very new to all of this and would love some help and advice.

I would like to try and reclaim my authorised overdraft charges but don't know if I would be able to as have never actually gone over my authorsied limit. I have just kept upping and upping it so now I am always in the red even when I pay myself any wages. I cannot afford to pay much off each month to get rid of it and if I got the charges back would clear it once and for all.

I also have borrowed money from family memebers which I am paying back as not to have to borrow more on my overdraft.

I run a small business and as you can all imagine our sales have gone down 35-45 % with the recession.

The bank account that I want to claim the charges back from is not my business account it is my personal one - my business ones are with another bank.

Any help anyone could give me would be much appreciated to let me know if it is worth writing to them and what I would need to write about the hardship part as a bit confused all round.

Many thanks for reading this and any help or advice that anyone can give me.

Kind regards
Michelle

If you have priority debt arrears(mortgage/rent, council tax, utilities) then you might have a good shot at financial hardship. You certainly have a drop in income and repeatedly increasing the overdraft could indicate hardship but arrears will be key to them offering a refund of charges though. BUT start the process cos they will either say YES or NO.