Reclaiming bank charges and CCCS

KatieKat_2

Hi, I am about to be starting a debt managment plan with CCCS (well, hopefully - I have my interview with them in less than 2 weeks) anyway, I've been reading about reclaiming my bank and credit card charges (and between the 2 of us, DH and I will have racked up quite a few!)

Do you think we'd have any difficultly doing this since we're starting up with CCCS? Is it possible?

We'd probably get back a FORTUNE which may even help pay things off a bit quicker or even afford a nice meal Man, I'm hungry - we're living on such a tight budget at the moment trying to get our finances sorted so no snacks or takeaways for us anymore LOL - great way to diet, but anyway.... so does anyone think we could still reclaim the charges and has anyone had success with this (while working with CCCS)?

Thanks

lightatendoftunnel?

hello I am on a DMP with CAB and i am reclaiming my bank charges cant see any problems. Good luck

Bunnyinthelights

I'm just gathering up the nerve to do it-and I'm going to cancel the PPI I was sold even though Im self employed!
It should shave at least a year off my debt I figure...
Bunny

james32_uk

I imagine CCCS must have some experience of this by now and you should talk to them first. I would be careful as a DMP is purely a voluntary agreement by your creditors to accept your lower repayments and they could end it at any time.

KatieKat_2

Thanks I've already cut up my credit and store cards and am switching banks so I am not worried about them being cancelled as I don't intend on using them ever again. I've paid off my credit one too many times, only to go back to using them in 'an emergency' - yeah, like needing to pay more bills:rolleyes: but never again.

I think that my worry is with whether or not it would be too difficult or impossible since we are starting the DMP

CLAPTON

this is somewhat uncharted territory so i'ld proceed with caution.
on the one hand you are saying...please mr cc company accept this low offer of repayment and please don't charge me any interest during this time and on the other hand ...by the way i'm going to reclaim all those charges from you.

clearly the banks are responding to the OFT views on charges but not necessarily to the advantage of people with debt...Barclaycard are reducing their charges to £12 but increasing their APR....that might be worse than formally.

it would seem to me that if your charges are relatively low and you owe them a lot of money then maybe dont do it. on the other hand if the charges have been high and your debt relatively low then go for it.

james32_uk

Yeah, be careful. Your credit card companies could choose to end the voluntary agreement and begin charging you interest and over limit charges if you !!!!!! them off!