Unique Hardship Situation

kp126

My partner and I both had horrible financial situations.

Until 2008 we had around £20k of credit card debt on which we could only mange minimum payments on, loans which we were paying (sometime from credit cards), two mortgages which were much the same as the loans. We also had a £30k mortgage overdraft reserve account.

Though we never missed any payments - we were paying the bare minimum and transferring money here to there to make the payments, and basically struggling to make ends meet. We were paying multiple charges for breaching overdraft limits and cheques or regular payments being returned.

In 2008 my daughter took charge of our finances and paid off our credit card debt and is now paying off our mortgage overdraft. She has completely turned our financial situation around, and has minimised all out outgoings too by shopping around for things like insurance and utilities. On top of this she buys all our groceries and petrol per month.

So now our accounts are in credit and all payments are being made fine. The thing is, if it wasn't for my daughter - whom we now owe all this money to - we would be in a much worse situation than before. Especially as my income has recently halved due to illness.

Can we do anything to claim the charges back under hardship. We are still in the huge amounts of debt - just now the creditor (my daughter) does not charge penalties and interest!!! We just pay her back with what is left from out monthly out goings. Getting these charges back would really help us pay something more back to her!

natweststaffmember

khush126 wrote: »

My partner and I both had horrible financial situations.

Until 2008 we had around £20k of credit card debt on which we could only mange minimum payments on, loans which we were paying (sometime from credit cards), two mortgages which were much the same as the loans. We also had a £30k mortgage overdraft reserve account.

Though we never missed any payments - we were paying the bare minimum and transferring money here to there to make the payments, and basically struggling to make ends meet. We were paying multiple charges for breaching overdraft limits and cheques or regular payments being returned.

In 2008 my daughter took charge of our finances and paid off our credit card debt and is now paying off our mortgage overdraft. She has completely turned our financial situation around, and has minimised all out outgoings too by shopping around for things like insurance and utilities. On top of this she buys all our groceries and petrol per month.

So now our accounts are in credit and all payments are being made fine. The thing is, if it wasn't for my daughter - whom we now owe all this money to - we would be in a much worse situation than before. Especially as my income has recently halved due to illness.

Can we do anything to claim the charges back under hardship. We are still in the huge amounts of debt - just now the creditor (my daughter) does not charge penalties and interest!!! We just pay her back with what is left from out monthly out goings. Getting these charges back would really help us pay something more back to her!

Has she reclaimed the charges on the credit cards which is still reclaimable.

What did the bank do at the time of the financial hardship?
Are you aware that the bank DOES NOT have to repay any charges even if you are/were in financial hardship?
If they did, it would be to help with financial hardship and not to give money to anybody else that you are related to, unfortunately.

kp126

Has she reclaimed the charges on the credit cards which is still reclaimable.

What did the bank do at the time of the financial hardship?
Are you aware that the bank DOES NOT have to repay any charges even if you are/were in financial hardship?
If they did, it would be to help with financial hardship and not to give money to anybody else that you are related to, unfortunately.

We have claimed the credit card charges and two sets of PPI also.

I am aware that the banks are under no obligation to refund anything on the charges front, I am just unsure about the case I have for hardship given all the money we now owe is to my daughter rather than the bank.

Unfortunate that the only way it seemed we might have had a case is that if we kept going the way were were, and my daughter had not stepped in - even though we still owe the same amount of money!