Bank Charges Reclaiming Guide discussion

omega1473

hi, really sorry but im not sure how to use this forum.
my husband had a natwest (nastywest) business bank account. just over 18 months ago they took the account off him with an overdraft of over £27000 due to lack of funds goin into the account. they did try to help with offering a loan to the total of £480 a month for the next 10 yrs i think it was. not much help for a single self employed builder who was obviously already struggling to make ends meet. (is it me, but im sure nobody enjoys having the worry of owing such amounts of money). Anyway with now no business acc things had got even harder with no back up financialy and by this point virtually no work. then admitably to our own fault not agreeing to the loan we couldnt afford, the natwest sold our debt to a firm who wanted a lot of money every month to whom wouldnt take less than £100 a month. we struggled and started to try and pay this but it got to difficult and phoned to see if we could payless or at a slightly later date. no, was the reply and if we went out of agreement terms they wanted the full amount. buy this time with no bank account my husband has abvious late or non existant payment from dd going out of this old account and ccjs from the tax man. we buried our heads further with no way of paying and even ignored phone calls from companies now asking for money that we just didnt have. now again another company has got in touch with my husband over this natwest account and have issued him with a £100 a month STANDING ORDER which will have to go out of my account. im totally terified at the standing order because they can put the amount up at anytime. again a £100 at the moment is something we really cant pay. i would obvs like to hear if somebody out there can help me as we cant get a loan, we really need a businness bank account or personal bank account, which we get knocked back on because of a non existant credit rating. we really, really want to try and get back on top of things but nobody is willing to listen. Can we claim back off natwest for charges which would obviously help in paying back companies we already owe!

thanks

omega x

natweststaffmember

omega1473 wrote: »

hi, really sorry but im not sure how to use this forum.
my husband had a natwest (nastywest) business bank account. just over 18 months ago they took the account off him with an overdraft of over £27000 due to lack of funds goin into the account. they did try to help with offering a loan to the total of £480 a month for the next 10 yrs i think it was. not much help for a single self employed builder who was obviously already struggling to make ends meet. (is it me, but im sure nobody enjoys having the worry of owing such amounts of money). Anyway with now no business acc things had got even harder with no back up financialy and by this point virtually no work. then admitably to our own fault not agreeing to the loan we couldnt afford, the natwest sold our debt to a firm who wanted a lot of money every month to whom wouldnt take less than £100 a month. we struggled and started to try and pay this but it got to difficult and phoned to see if we could payless or at a slightly later date. no, was the reply and if we went out of agreement terms they wanted the full amount. buy this time with no bank account my husband has abvious late or non existant payment from dd going out of this old account and ccjs from the tax man. we buried our heads further with no way of paying and even ignored phone calls from companies now asking for money that we just didnt have. now again another company has got in touch with my husband over this natwest account and have issued him with a £100 a month STANDING ORDER which will have to go out of my account. im totally terified at the standing order because they can put the amount up at anytime. again a £100 at the moment is something we really cant pay. i would obvs like to hear if somebody out there can help me as we cant get a loan, we really need a businness bank account or personal bank account, which we get knocked back on because of a non existant credit rating. we really, really want to try and get back on top of things but nobody is willing to listen. Can we claim back off natwest for charges which would obviously help in paying back companies we already owe!

thanks

omega x

The answer is yes you can claim from natwest. Please see my signature(micro enterprise business is the bit you need) but please remember that if it is a standing order that YOU have set up that the amount cannot change without you express consent in writing to the bank.

omega1473

help, where do i find and what is your signature. im sorry but im not atall computer literate! x

Premier_2

omega1473 wrote: »

hi, really sorry but im not sure how to use this forum.
my husband had a natwest (nastywest) business bank account. just over 18 months ago they took the account off him with an overdraft of over £27000 due to lack of funds goin into the account. they did try to help with offering a loan to the total of £480 a month for the next 10 yrs i think it was. not much help for a single self employed builder who was obviously already struggling to make ends meet. (is it me, but im sure nobody enjoys having the worry of owing such amounts of money). Anyway with now no business acc things had got even harder with no back up financialy and by this point virtually no work. then admitably to our own fault not agreeing to the loan we couldnt afford, the natwest sold our debt to a firm who wanted a lot of money every month to whom wouldnt take less than £100 a month. we struggled and started to try and pay this but it got to difficult and phoned to see if we could payless or at a slightly later date. no, was the reply and if we went out of agreement terms they wanted the full amount. buy this time with no bank account my husband has abvious late or non existant payment from dd going out of this old account and ccjs from the tax man. we buried our heads further with no way of paying and even ignored phone calls from companies now asking for money that we just didnt have. now again another company has got in touch with my husband over this natwest account and have issued him with a £100 a month STANDING ORDER which will have to go out of my account. im totally terified at the standing order because they can put the amount up at anytime. again a £100 at the moment is something we really cant pay. i would obvs like to hear if somebody out there can help me as we cant get a loan, we really need a businness bank account or personal bank account, which we get knocked back on because of a non existant credit rating. we really, really want to try and get back on top of things but nobody is willing to listen. Can we claim back off natwest for charges which would obviously help in paying back companies we already owe!

thanks

omega x

How much of the £27000 is made up of bank charges? i.e. bank charges specifically for unauthorised overdraft fees?

Unless it happens to be most of it (which by the sound of it I suspect not), I really think you should seek help regarding your debts. You could start with the CAB who are very knowledgeable and helpful.

Some of the problems I see are that at just £100 per month it will take over 22 years to pay back £27k ... and that doesn't account for any interest.

Then you say you can't even afford £100 per month.

What will upset a creditor more than anything else is a debtor who reneges on an agreed repayment plan, even if it does mean it may take 20+ years to repay. You appear to have done that and are about to do so again. Even if you can afford to keep up the £100 p.m., you are right not to expect the creditor to be happy with this arrangement for the next 20+ years.

I understand the business is up the proverbial creek, especially without a bank account, but your problem will now be that having lost the existing bank account and with CCJs now against you, it's going to be extremely difficult to get another.

Finally you say you also owe the taxman money. That could be a huge problem. The taxman will only wait so long (and nowhere near 22 years) to get his money, and if will seek to make you bankrupt if the money is not forthcoming.

For those reasons you need help, not just hoping to get a bit of money back from the bank. Bankruptcy may end up being your way out, but get help to make sure it is and if it is decided it is, you can do it to your timeline.

orc_2

Omega

are they still applying interest to the debts or have you got that stopped?

Please take expert advice quickly.

Good luck.

natweststaffmember

omega1473 wrote: »

help, where do i find and what is your signature. im sorry but im not atall computer literate! x

Under my post it says "I have not worked for NatWest Bank since February 2009", below that is a link to the lending code.

moneymonkey35

natweststaffmember wrote: »

Please see the above post by me on here from 15th April with the link to the FOS own publication and read post 5 and you will see why I have posted the way I have.

I don't care why you have posted, there is no reason to be so rude! This is not a forum where it is appropriate to abuse an individual who is simply trying to make ends meet. It seems as though you are attacking because I am fighting against the decision of the bank, which I have every right to do. I stand by my argument that the offer made was appalling in light of the number of years I have been charged and the amount that has been taken from my account unreasonably. I am prepared to negociate but not that much!

I have stated - on more than one occasion - to both the bank and the Ombudsman why I am claiming and have ALWAYS given good reasons (reduction in salary, cycle of charges, priority debts etc.) which I continue to give, as well as a FULL and HONEST statement of my financial affairs.

I did not post all my reasons on here as it would take up too much of everyone's time to read my long and detailed justifications and frankly it is for the eyes of the bank workers and the Ombudsman that I am dealing with and not for everyone to comment (I use this forum to both gain and give support).

I'm sorry if you don't like that I am fighting back, but its simply the way I feel and I have not been rude or unreasonable in any of my dealings with NatWest or the Ombudsman.

natweststaffmember

moneymonkey35 wrote: »

I don't care why you have posted, there is no reason to be so rude! This is not a forum where it is appropriate to abuse an individual who is simply trying to make ends meet. It seems as though you are attacking because I am fighting against the decision of the bank, which I have every right to do. I stand by my argument that the offer made was appalling in light of the number of years I have been charged and the amount that has been taken from my account unreasonably. I am prepared to negociate but not that much!
I'm not attacking you. If you have seen my posts on the forum you will see what I am arguing and how I am arguing. I am certainly saying that anyone who has the logic that they will get 100% of their charges refunded under financial hardship is going to be, in all likelihood, very disappointed. I am arguing that the bank are looking at the point when your income became insufficient when they were due. The bank making an offer can in itself be seen to have done sufficient. The issue is how to argue that they are wrong. If you simply say to the Ombudsman: "it's not 100%" then it is not good enough. It HAS to be tailored to your case specifically as well as the financial hardship you have suffered.
I have stated - on more than one occasion - to both the bank and the Ombudsman why I am claiming and have ALWAYS given good reasons (reduction in salary, cycle of charges, priority debts etc.) which I continue to give, as well as a FULL and HONEST statement of my financial affairs.
Financial hardship is about household income and expenditure ie for example, if you are unemployed that does not necessarily mean that you are in financial hardship, however, if you lose your job and partners hours are cut then the total income drops significantly enough then it could constitute financial hardship.
I did not post all my reasons on here as it would take up too much of everyone's time to read my long and detailed justifications and frankly it is for the eyes of the bank workers and the Ombudsman that I am dealing with and not for everyone to comment (I use this forum to both gain and give support).
The best payout to date that I am aware of with the advice i give is a five figure amount. It gives me no greater pleasure than getting more out of a bank but I do not like anyone simply rejecting an offer because it is not 100% of their claim. That is for me a source of disappointment. I'm saving you a rant in 5 or 6 months time when they say the bank have acted correctly. I should add that your post simply said you would ask the FOS to look at it cos it amounted to only one tenth of the claim. I'm saying to you to prove the case to the Ombudsman that it is more than that. For me, I couldn't care less about your principals or my principals but about you arguing the case that the bank have not done enough. I would read as well Ombudsman news from January/February 2010 which does talk about financial hardship. The problem on MSE recently is that posters think the the FOS is going to argue the case for them/will offer 100% of the charges back(case study 5 from ombudsman news jan/feb 2010)/ or that saying it's not enough or too low is an argument that is a winner. I'll argue for more based on the circumstances to a specific individual.
I'm sorry if you don't like that I am fighting back, but its simply the way I feel and I have not been rude or unreasonable in any of my dealings with NatWest or the Ombudsman.

Firstly, if you want to be rude in your dealings with NatWest then feel free to do so. I don't work for them anyway, and personally, if it makes you feel better then do it. You have my reasoning, you have my response and if you need my help then you have it. When the ombudsman agrees with the bank then call me any names you like under the sun but the way I post is geared towards giving information to you and getting you more by making you think more about your claim.

ujanjua

I received a letter from my bank Barclays detailing that as a gesture of goodwill they will offer me 160 pounds to cover "periodic fees". I put in a claim through the financial hardship route against Barclays for overdraft charges and fees amounting to 2100 pound.

I contacted them via the phone this morning and was told that this was not negotiable. The question is shall I contact the ombudsman or should I call it a day?

Thanks in anticipation for any help

multidebt

natweststaffmember wrote: »

Has the bank applied to have the case heard yet?

Just seen your response, and thanks. No, even to this date, no applications have been made, at least as far as I know, as I have not heard from the court or the bank.
Should I be concerned, or just sit tight and wait. If court accepts my claim, net result would be I owe some money to the bank. I am paying monthly anyway, even though bank has not accepted (but they are receiving the payments).