Can bank take my entire wages to reduce the debt on the account?

pmduk

Varin wrote: »

All I want to know is, if I can go to the bank and say: "Look, I have no money to live, can you give me my wages back, deduct small amount to cover some of the unplanned overdraft, and give me the rest, so I can go to Tesco and buy some mince and pasta."
I'm asking you guys if you know of any regulations that I can bring up when talking to them, to achieve my goal - eat today.

Of course you can ask them, but I wouldn't hold my breath. They took money that you owed them without asking. Exactly the same as you did when you wrote the cheque which caused the problem. There are no regulations saying that they can't reclaim their money.

izools

pompeyred wrote: »

Yet again bully boy izools goes off on a rant about those less 'smart' than himself, yet in his own signature it quite clearly shows that he is now wiser, brigther and more mature..... heaven help us izools that you weren't always number 1 at everything financial you jumped up idiot....

Go and find some other posters where you can further self inflate, there's a big bunch of people like you on here that whilst you seemingly carry the intelligence to offer sound advice you choose to do so through venom and puerile comments AT people, what you've said probably isnt wrong but to attack someone..... geez - how do you keep a friend base..... if that's really what you are like.....?

FYI, I never incurred a penny in current account charges in my entire life even on the lead up to bankruptcy because I didn't arrange for payments to leave my account I didn't have the readies for.

If I had, I wouldn't come on here swearing about other organisations having f****d me over, I'd come on here palms open wide asking for help and advice. I screwed up as a teenager, I admit I did much wrong, and I learned from my mistakes. Difference between OP and I is that I never once claimed to have done nothing wrong nor did I look to a third party for blame. It was squarely my fault I went bankrupt and a result of my irresponsible, childish decisions.

I'm not a bully boy, I'm pointing out the flaws in the OP's mentality and approach to money.

If you and / or OP want to shrug it off as my being a bully, that's your perogative, but it's precicely that mindset that leads to people not being able to improve themselves.

No one is infallible, including myself.

However OP came on here demonstrating a demeanour of infallability, which is not conducive to accepting you've done something wrong and therefore preventing the same thing happening again.

I pointed that out in the hope that they consider their mindset and in future approach a problem thinking "What can I do differently to prevent this happening again" - rather than OP's initial mindset "Who's to blame, cos it sure aint me?"

If we all sympathised with OP saying "There there, it'll be alright, nasty companies, you did nothing wrong" they'd learn nothing and the same thing would happen again, guaranteed.

EDIT: How do I keep a close circle of friends? Simple. I am trusted, and respected, and a right laugh. Simple.

Why am I trusted and respected despite having been bankrupt? Because my friends see that I am open, honest, and happy to learn as much as is possible. I never approach a situation thinking I must be right and everyone else is wrong, I consider all the facts, I am impartial, am happy to admit when wrong, and happy to take on board more information.

I may have been harsh with OP, I may not be empathic enough and apologise if it was overboard. I admit that mistake. I still feel that the advice offered was sound, and that OP's mentatily and approach were erroneous. If anyone can suggest why I am wrong in thinking this I am happy to take on board wat is said.

JuicyJesus

Even if izools is a bit harsh, that doesn't prevent him from being correct.

abercrombie

Hey - I would advise you give the Consumer Credit Council a call. I had a problem a few years ago where my bank just revoked my overdraft and my wages got swallowed up when I got my salary paid in. They advised me of a piece of legislation that is in place (I am racking my brains but can't think what its called) where they have to allow you money for 'Priority' bill payments and costs - ie: rent, food, travel etc.. They will guide you through a template of a letter to take into your branch and they should be prepared to help you out I took mine in to the branch once I had written it and although I couldn't withdraw all my money - the branch manager authorised me to with draw money to pay my rent etc. I would definitely recommend you call them, or at least try going into your bank and asking to speak to the manager. I know it can be daunting and not nice to have to speak to a complete stranger about issues with money, however in my recent experience if you are just up front with them they will sometime surprise you and try to help if they can. - Hope this helps.

ihateyes

abercrombie wrote: »

Hey - I would advise you give the Consumer Credit Council a call. I had a problem a few years ago where my bank just revoked my overdraft and my wages got swallowed up when I got my salary paid in. They advised me of a piece of legislation that is in place (I am racking my brains but can't think what its called) where they have to allow you money for 'Priority' bill payments and costs - ie: rent, food, travel etc.. They will guide you through a template of a letter to take into your branch and they should be prepared to help you out I took mine in to the branch once I had written it and although I couldn't withdraw all my money - the branch manager authorised me to with draw money to pay my rent etc. I would definitely recommend you call them, or at least try going into your bank and asking to speak to the manager. I know it can be daunting and not nice to have to speak to a complete stranger about issues with money, however in my recent experience if you are just up front with them they will sometime surprise you and try to help if they can. - Hope this helps.

i think you have mis read the bank HASNT withdrawn the overdraft.
the op has a £500 odraft. he wrote a cheque which the bank honoured even though he had insufficet funds. this put him almost 250 over his od limit.
when his wages went in it merely paid off the overdrawn amount, and didnt clear the od amount

abercrombie

I was just using that as an example, as far as I am aware regardless of how the debt was incurred they still have to allow the customer funds to cover the basic costs of living. They may ask for proof though, such as a tenancy agreement to show the rent amount etc...?

grizzly1911

As others have said go and talk to your bank.

I do not believe there is anything you can use to beat them over the head with.

The problem these days the guys in the "banking hall" don't really have a lot of scope to deal outside their structured products and credit scoring processes. The fact you took/they allowed an unauthorised excess on you O/D will not have helped in the in house scoring process.

It would probably help if you can take with you a breakdown of income and expenditure that you can stick to. A least it will show that you have thought about the position and how you can see your way out.

They may offer some form of consolidation loan to repay the overdraft plus a bit extra to be repaid over a period. You would probably lose the O?D completely and it would be at relatively high APR.

Mrs_Ryan

This happened to OH - Santander took his entire wages plus 2 DLA payments to cover their charges.
Their exact words to me were 'We cant release wages but we will release the benefit money as we are aware that we are not supposed to use it to service our charges.' It was 2 months worth they had taken and luckily it was near as dammit to what OH's wages were.
So it would seem that you're probably out of luck OP - unless they've taken benefit money then the banks couldnt care less.
Still, have a word with them. See what they can do...

pompeyred

izools wrote: »

FYI, I never incurred a penny in current account charges in my entire life even on the lead up to bankruptcy because I didn't arrange for payments to leave my account I didn't have the readies for.

I am not sure where I mentioned or suggested that you personally had incurred bank charges. I couldn't care why you went bankrupt but my opinion is formed from YOUR own words in YOUR signature block in that at SOME point in your history you have made less than wise decisions probably of which culminated in your bankruptcy. I remember your previous signature gloating how much credit you 'had' with something along the lines of it being within a very recent bankruptcy thus I form my opinion in the way I have and find it a struggle to not laugh when you have written some of the spurious rubbish you have.

This is a bulletin board designed for people to raise and discuss financial issues but there is a building brigade of people that seem to take that basis to the nth degree and attack posters from some self elevated position.... what is it to you or anyone else how they construct their question, for that matter when you make the decision to post what gives you the permission to point, provoke or attack posters......? If you read through some of what you say the advice is sound. I understand the nature of me putting time into even make a response when I am not adding to the original thread but I stand by people not bullying others in this way.... IT IS BULLYING..... you are no better than a playground bully but you are hiding behind the safety screen of a computer and an internet connection.

izools wrote: »

I may have been harsh with OP, I may not be empathic enough and apologise if it was overboard. I admit that mistake. I still feel that the advice offered was sound, and that OP's mentatily and approach were erroneous. If anyone can suggest why I am wrong in thinking this I am happy to take on board wat is said.

bengal-stripe

pompeyred wrote: »

.... IT IS BULLYING.....

It's not bullying, it's calling a spade a spade.

Directness is definitely preferable to the wishy-washy, touchy-feely hugging brigade.