Do the Banks pay up by cheque or not?

michael1983l

really any monies claimed from bank charges should first be used to pay off outstanding debts especially if your having problems. Im not sure Im understanding your post properly, is it that your trying to trick them into making the £700 available to withdraw only for you to cancell the agreement leaving money owed to barclays whilst you walk away with the £700. What do you then plan on doing with the money you owe barclays....

milkydrink

So if you owed me £700 (or £930 if we go with that figure) & I owed you £2,000.

Would you expect me to hand you over £700 (or £930) or would you think it reasonable to subtract it from the much larger debt, £2,000 that I owed you.

Would you also give me an interest free loan (loosing any interest you could expect to earn if you invested the money), to pay off the remainder of the debt.

:rotfl: :rotfl: :rotfl: :rotfl:

fbs_4800

michael1983l wrote: »

really any monies claimed from bank charges should first be used to pay off outstanding debts especially if your having problems. Im not sure Im understanding your post properly, is it that your trying to trick them into making the £700 available to withdraw only for you to cancell the agreement leaving money owed to barclays whilst you walk away with the £700. What do you then plan on doing with the money you owe barclays....

Nope. I'm pretty sure I stated that the £2000 is going to be part of an IVA that Payplan are setting up for me and that I could use the £700 to pay off other more pressing bills (electric, gas arrears etc...)

Please don't make me out to be some sort of con artist as I tried to make it clear that wasn't my intention from the off.

fbs_4800

michael1983l wrote: »

really any monies claimed from bank charges should first be used to pay off outstanding debts especially if your having problems. Im not sure Im understanding your post properly, is it that your trying to trick them into making the £700 available to withdraw only for you to cancell the agreement leaving money owed to barclays whilst you walk away with the £700. What do you then plan on doing with the money you owe barclays....

I will lose a lump sum that could be much better attributed to paying off several smaller bills and helping me out right now. I am currently negotiating an IVA with Payplan - and this overdraft will become part of it.

Sorry - in case you missed it... :rolleyes:

fbs_4800

kimevans wrote: »

So if you owed me £700 (or £930 if we go with that figure) & I owed you £2,000.

Would you expect me to hand you over £700 (or £930) or would you think it reasonable to subtract it from the much larger debt, £2,000 that I owed you.

Would you also give me an interest free loan (loosing any interest you could expect to earn if you invested the money), to pay off the remainder of the debt.

:rotfl: :rotfl: :rotfl: :rotfl:

So if I owed you £2000 and I was in financial difficulty - would you expect me to agree to pay you over twice that amount back - over 10 years - in order to help me out?

And if you found out that I had unlawfully taken money from you over the last 6 years - would you expect me to stipulate exactly how I give that money back to you?

I could even go as far as to say if I wasn't in a position where they'd taken £930 from me (which is agreed by all to be extortionate) then perhaps I wouldn't be in a 2k debt to them years down the line.

Debt is a spiral - and I'm trying to get out of it.

michael1983l

thats why i said im not sure i understand your post properly :rotfl:

I know little about IVA plans but I do have alot of experiance with dealing with debt. If your taking out an IVA get as much of the debt you can in there, you dont want to be paying out on lots of agreements if your trying to sort out your finances.

Im not sure if its worth you taking out the loan at all with barclays, as it complicates things maybe waiting for the IVA to cover the overdraft will be a better idea then getting your £700 cheque in your hand.

My best advice would be to resist the temptation to spend any of the £700 on anything other than your debt/outstanding bills.

fbs_4800

michael1983l wrote: »

thats why i said im not sure i understand your post properly :rotfl:

I know little about IVA plans but I do have alot of experiance with dealing with debt. If your taking out an IVA get as much of the debt you can in there, you dont want to be paying out on lots of agreements if your trying to sort out your finances.

Im not sure if its worth you taking out the loan at all with barclays, as it complicates things maybe waiting for the IVA to cover the overdraft will be a better idea then getting your £700 cheque in your hand.

My best advice would be to resist the temptation to spend any of the £700 on anything other than your debt/outstanding bills.

Cheers mate. :beer: Sorry if I sounded ars*y but it wasn't intended. It's just that I'd accept the £700 if they gave me a cheque and not worry about the other £230. I could use the £700 tomorrow to pay off outstanding utility bills a lot more than the overdraft which can wait for the IVA. The main thing is - they'll get their money. Just not twice as much over 10 years. :mad:

fbs_4800

Sorry to pester - but does anyone on here know if you can get your charges refunded as a cheque?

Frenzy

im beginning to wonder theres only 5 pages in this thread so why dont ppl read back on how they mite get their charges refunded as it would be quicker than waiting for someone to reply to them

jillie1974

mine was mostly paid off what i owed Natwest and what was left over i got as a cheque..
if you dont owe them anything they will either put it in your account or if your account is like mine (really bad way) close it and send you a cheque