The new templates...

[Deleted User]

Ref: New-BC-bank-amendC-extra5 document

It asks me to add personal evidence of hardship but is this retrospective or current as these days my finances are healthy.

Can I justify claiming this money back for the stress it caused when I was younger and more susceptible to such charges or will my current good finances be taken into account with respect to what looks like a claim to hardship.

chipbeck

I think in order to make a claim for the return of charges due to financial hardship you have to be in financial hardship.

If you contact your bank and tell them you want to make a claim because you used to be hard up it won't wash.

[Deleted User]

But it shouldn't really make any difference, they had an obligation to treat the customer fairly and responsibly at that time.

The template letters don't appear to be geared for hardship cases as we know them but the personal elements look like asking for evidence of hardship at the time of the charges.

What I'm asking is will my current good finances come into play, as my charges mainly took place between 2001-2005 yet they did at that time cause me hardship and distress financially, personally and socially.

MrLeeLee

The new guides really does make it seem like if you don't qualify for hardship then you have zero chance of getting any money back, even if you do qualify for hardship, it will be difficult (which to be fair, Martin does say)

From my point of view, I have been through the hardship tests with HSBC, and they have told me I don't qualify (even though I am a wheelchair user, lost my job last year, and my partner is expecting a baby)

The reason was because I am not behind with any payments or anything like that and haven't had any charges for a while now, however the only reason I am not behind with any payments is because I am deep in my overdraft (to be fair, I used to be far deeper but have steadied the ship a bit) I guess they don't mind that though as it means I am paying them overdraft interest.

I think to be honest, when it comes to financial hardship, I believe each bank makes it up as they do along.

[Deleted User]

But if you look at surely hardship can be claimed at the point of the charges and not just used as a case for the money to returned now.

For example, say someone racked up charges in the past because they weren't to fussed, could afford to do so (reckless I know but I'm sure it's happened) and now a few years later they find themselves in hardship and decide to reclaim... how do you view that?

To the opposite, someone being in hardship at the time and not knowing there was a case for reclaiming or stopping the endless circle or charges now a few years later in better health financially wanting to reclaim for past hardship caused.

I think its fair game!

Premier_2

[Deleted User] wrote:

Ref: New-BC-bank-amendC-extra5 document

It asks me to add personal evidence of hardship but is this retrospective or current as these days my finances are healthy.

...

Have a look here regarding what is considered regarding financial difficulties:
http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf(page 20 onwards)

Term 138 in particular says:

Personal customers should be considered to be in financial difficulty when income is insufficient to cover reasonable living expenses and meet financial commitments as they become due...

Note how the code primarily refers to unplanned, forced changes in lifestyle, rather than simply living beyond your means.

In regards to damages for things like stress caused, that is a whole different thing and not something the MSE article on reclaiming covers to at all, but best of luck if you want to try!

MrLeeLee

I would have thought it's totally fair. However, I am not sure the banks will agree...

Once again, going back to me (sorry!) like I said, I was very addicted to gambling, and looking back at my statements there were days when there would be 10+ transactions in a DAY of £20-30.

The bank never ever called to make sure it was me doing it, or anything like that.

From one point of view I can understand people saying 'well it's your fault, you should have got advice from somewhere' but I still believe that at some point, the bank would have seen something wasn't right (and I freely admit I was in a bad way back then) and either stopped the transactions, or at least called or wrote a letter.

It's a hard one really, on one hand I should have seen that it was stupid and dangerous, but then when you're addicted to something, you can't see how bad it is. The fact that these transactions were being allowed by my bank despite me being deep in my overdraft, and it taking me over my overdraft should have triggered some sort of action from the bank.

Good luck if you try it mate!

[Deleted User]

Premier wrote: »

Have a look here regarding what is considered regarding financial difficulties:
http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf(page 20 onwards)

Term 138 in particular says:
Note how the code primarily refers to unplanned, forced changes in lifestyle, rather than simply living beyond your means.

In regards to damages for things like stress caused, that is a whole different thing and not something the MSE article on reclaiming covers to at all, but best of luck if you want to try!

My point appears to have been missed, what I'd like to know is could you take action retrospectively if you could prove you were caused substantial hardship a few years back by these charges.

If you can claim hardship now and be relatively successful you should be able to make retrospective claim, irrespective of your current financial position.

Premier_2

[Deleted User] wrote:

My point appears to have been missed, what I'd like to know is could you take action retrospectively if you could prove you were caused substantial hardship a few years back by these charges.

If you can claim hardship now and be relatively successful you should be able to make retrospective claim, irrespective of your current financial position.

With all due respect, I feel it may be you that has missed the point. Have a read of the document linked to and decide for yourself whether it includes such scenario's as financial hardship.

[Deleted User]

I read it and no there was no contact from the banks other than demands to repay first the unathorised OD, then the full OD followed by several threats to close my account and pass to debt collections.

The only money going into this account and being swallowed up was JSA benefits, if it wasn't for my parents at the time I'd of been well in the proverbial. I was young, naive and did not have the knowledge and understanding to rectify the problem there and then.

I could not match the payments they requested on JSA and continued to get charged.

I feel I have every right to claim those monies back.

natweststaffmember

[Deleted User] wrote:

I read it and no there was no contact from the banks other than demands to repay first the unathorised OD, then the full OD followed by several threats to close my account and pass to debt collections.

The only money going into this account and being swallowed up was JSA benefits, if it wasn't for my parents at the time I'd of been well in the proverbial. I was young, naive and did not have the knowledge and understanding to rectify the problem there and then.

I could not match the payments they requested on JSA and continued to get charged.

I feel I have every right to claim those monies back.

How old were you when you first incurred bank charges?

With regards to historic bank charges, it is highly unlikely to reclaim under financial hardship. Have a look on my signature which has the lending code on it and read chapter 9(page 20).