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Another bank charges thread..

scheming_gypsy
Posts: 18,410 Forumite
Ok.. a friend of mine has asked me to help her reclaim bank charges for her but i'm not exactly up on it all. After looking at some of the sites it seems easy enough, request the statements, write the letter demanding the money back then take them to court etcetc.
She's applied for her bank statements and received them - step 1 complete.
Step 2 is about sending the LBA after you know how much you're claiming.
I've just hacked through her bank statements and done a spreadsheet of all charges and interest on those charges. What i need the help in, is what exactly do you claim back? Do i claim for every charge and the interest or are we supposed to work out what the charges should have been and then calculate the correct interest?
If so.... how ?
cheers
She's applied for her bank statements and received them - step 1 complete.
Step 2 is about sending the LBA after you know how much you're claiming.
I've just hacked through her bank statements and done a spreadsheet of all charges and interest on those charges. What i need the help in, is what exactly do you claim back? Do i claim for every charge and the interest or are we supposed to work out what the charges should have been and then calculate the correct interest?
If so.... how ?
cheers
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Comments
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you're a very nice Englishman.. it doesn't make a lot of sense at the minute but it is half one and i'm shattered so i'll look over the weekend.0
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Good on you for helping your friend scheming_gypsy and I hope she gets back what she is due.0
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Scheming gypsy, I understand what you mean
Basically as I understand it, if you go over the OD charge is say £30, then you claim the additional interest on that which charged.
I couldnt be bothered to work it out in the end (no not very MSE) but also if they dont pay up pre-proceedings theres another 8% to add on the top which is coool:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Hello good advice above, get yourself familar with the site and it will be very easy. Look through the thread in relation to the bank you are reclaiming from, you will see how other people have managed.
When you say step 2 LBA, have you sent your prelimanary letter? This the letter prior to the LBA.
Good luck, but you wont need it as its your friends money!!DFW NERD 276: Proud to be dealing with my debts.Champagne taste and lemonade money!!!
Light bulb moment May 8th 20060 -
1. You need to send of for statements
2. You need to send prelim letter
3. You need to send LBA
4. You need to file moneyclaim or send N1 to court (with EX160 if you exempt from court charges for benefits etc)
Do not add 8% until the court stage.0 -
lynzpower wrote:Scheming gypsy, I understand what you mean
Basically as I understand it, if you go over the OD charge is say £30, then you claim the additional interest on that which charged.
the bit i couldn't get my head round last night is..
they charge £30 + interest, which they're not allowed to do but they are allowed to charge you something (not £30) and interest, so what is it they can charge you and how'd you work out the interest on that.
My friend made a silly mistake (got married) and went over her overdraft buying the wedding dress and everything else. Then buried her head hoping it'd all go away so when she finally decided to face upto it she came to a repayment agreement with the bank at £160 a month.
For the first few months she made overpayments of £200 a month. Then the bank got in touch demanding payment saying she hadn't paid anything. At this point she stopped paying (against my advice), then the bank suddenly found the money but she hasn't made any payments since. Because of this the monthly interest has slowly been rising and is now up to over £50 a month. on 2 accounts
On the spreadsheet are 2 accounts, the first one started spiraling after she cancelled direct debits when she opened the second account and transferred them to that but the bank didn't and then started charging for unpaid DD's and then unauthorised overdraft charges so ideally she'd like to be able to reclaim everything back on this one.
The second account is the wedding 'account' and is currently over £2000 overdrawn on a £500 overdraft and £1000 of that is in charges and interest.
So just where do i start working out how much to claim back? is there an online spreadsheet that calculates it? or do i claim back the whole lot?
The one i found on the consumer action group just seems to show it when you're adding the 8%0
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