Small amounts

music2dance2

Hi all, I have 2 maybe 3 cards with small amounts of charges (under £100) from the past 6 years. Is it worth reclaiming? I'd hate for them to say pay off the existing balance upfront it thats the case. I've read this happening to some people.

podperson

Hi music,
Unfortunately I think this would have to a personal choice. How much do you have left balance-wise on the accounts? Do you use them currently and are you up-to-date with all the payments?
I'm sure they can't order you to pay off the balance in full as you should have terms and conditions with them stating your minimum payment as a percentage and as long as you are sticking to those by making the regular payments then you should be fine. However I say 'should be' as unfortunately nothing is ever guaranteed and I must admit most people I know who have claimed no longer use the accounts and it was purely to try and get the debts cleared quicker. I would have thought you would have a very good case for complaint with the fos if they did close your account though.

Premier_2

misguidance wrote: »

Hi all, I have 2 maybe 3 cards with small amounts of charges (under £100) from the past 6 years. Is it worth reclaiming? I'd hate for them to say pay off the existing balance upfront it thats the case. I've read this happening to some people.

Where have you read that? On MSE? :huh:
I've not read anything like that.

It's up to you whether you consider it's worth it (but I know I'd do so for almost £100) which, if successful, will probably will be used to reduce your current borrowing rather than given directly to you. But that still means you would be almost £100 richer than you are today, if successful.

music2dance2

podperson - i'm up to date and pay minimum every month, and more when I can. I guess I'll give it a go as I'd gone through the trouble of getting the statements

Premier - I believe I did read it on here, I'm certain in Martins guide for reclaim. I could be wrong but I get most of my info from this site.

I guess you are right, if successful its more money to lower the balance today than I would of had yesterday.

lol - misguidance

dec22

That would be treating you unfairly if they did that and you could complain to the FOS. I would certainly try, make sure you ask for the full charge back with contractual and 8% statutory interest. Some instsitutions pay both some won't but it is worth a try and get your balances reduced with refunds.

Good luck!

music2dance2

dec22 wrote: »

That would be treating you unfairly if they did that and you could complain to the FOS. I would certainly try, make sure you ask for the full charge back with contractual and 8% statutory interest. Some instsitutions pay both some won't but it is worth a try and get your balances reduced with refunds.

Good luck!

Ill do just that, thanks dec22.


Ive ignored my cards and paid the minimum only for years, time for change.

podperson

Request the full charges back with contractual interest, the extra 8% can be added if you have to file court papers. Although since it's for a small amount very doubtful it would get that far, usually they pay up fairly quickly.

music2dance2

podperson wrote: »

Request the full charges back with contractual interest, the extra 8% can be added if you have to file court papers. Although since it's for a small amount very doubtful it would get that far, usually they pay up fairly quickly.

Thanks, I'm going to get the letters done this weekend.