Terrible arrears but want to know if I can claim back my charges

Mike_St_Helens

Hi there,

I am in terrible arrears and an awful mess with my finances... am currently in the process of arranging a DMPat the moment, however I have had an idea.....

Would it be worth writing to each and every creditor asking them to refund all of their fees over the last 6 years.. I know that this would add up to a large amount and would take a huge chunk off my debts !

But if I do this would they not agree to my DMP? or get even heavier with me... they are already threatening to knock the door down !

MD

lynzpower

just go on with your DMP. Claiming back bank charges can take some months.

You are SUING your bank, many dont realise this.

Check out https://www.consumeractiongroup.com/forum for all the answers. Have A GOOD READ and make sure you understand the process before embarking.

Good luck
Lynz

Mike_St_Helens

Well I've started... I figured out that Im well owed these fees back from these lurches.

I contacted payplan who agreed that there is no harm in asking for these fees back !


Due to my circumstances, ive worked out that in the last year alone there is around £3000 due back.... better in my debt pot reducer than their profit pot increaser !

Ill keep you posted... Ive sent 10 letters just yesterday to the creditors below, asking for all my fees and charges that ive paid from 01/07/2000. I await with eager anticipation !
:think:

Capital One
Egg
halifax Credit Cards
Intelligent Finance
Littlewoods
Morgan Stanley Credit Cards
Barclays bank & card

Wish me luck on this slog... If anyone has any experience with these vultures... advice and feedback would be great !

Mike

Toto

Go for it Mike, I can't see how they can cause problems with your DMP, to be honest, I have come to realise the creditors might want more every month but, if you don't have more they can't have it. They might kick and scream, but in the end their choice is either accept what you do have or spend money taking you to court and risk getting nothing. I think they all agree in the end, they just like to scare you a lot in the hope they can suck a further few quid out of you.

I am unsure if I am supposed to claim my fees back before or after I do full and finals. The advice there seems to be 50/50.

KatieKat_2

I'm going to. I am also in the process of setting up a DMP... eventually once I get a few other issues sorted... but in the mean time a lot of my/our credit is going into arrears... and I decided ' to heck with it' I'm still going to try to claim what I can back. I don't expect to actually ever see the money though... and hopefully it will lower my balances making it easier to pay things off

At the end of the day, the lower our balances, the sooner things will be paid off... and it is more money that they'd have if we are pushed to, say, bankruptcy. In some cases it may mean less money or little or no money for them

Mike_St_Helens

Exactly... However far it goes, at least we can say that them gawd damn feed have been knocked off the top of my 18 tier debt cake... all what I owe now is really what I owe... (and theres a lot to it !)

TOTO, I personally would try before F&F's, but then again if you did settle for below the balance, they may say that wyou settled for below what you owed anyway, so there is your refubd ??

Toto

Yeah I dunno Mike, it might delay paying them off. I would have to wait for them to sort it for months and months adding more interest when I have the funds in the bank waiting to pay it off... Hopefully. So, I am sort of opting for afterwards just for that reason, but then they could actually owe me money on a settled debt. But, probably if they give me a reasonable settlement I won't bother claiming any charges back. I would feel odd having them having to pay me (Apart from RBS who have already had 10k in repayments and they still think I owe them 19.5k on an 18k loan)

Mike_St_Helens

Thats true, if you get good F&F deals, then you have won them anyway.

RBS - thats my argument all over, all my creditors have had the same in interest payments than the debt owed ! they have made money from me even if they just said... oh dont worry Mr Mike, you dont owe us nothing !

Mike

Dr.Shoe_2

I'm going to claim mine and then use it for my F&Fs- I could be almost debt free by this time next year!


Oh the dream....

Mike_St_Helens

yeah !

lets live the dream...

calm me dowm someone !!

Mike_St_Helens

Well... Results starting coming in already. Claimed to Barclays, only took one letter without me even knowing what they owed me. It was an account I haddnt used in 5 years so I have no idea... this was my tester !!

Result = £100

Im gonna use this to pay for all the £10 SAR requests I now can afford to pay to go for the rest with other banks !

Its not as scary as id thought !