Any advice on Pros & Cons of O/Draft v Loans Please

peteuk

Sil.surfer

Firstly it makes me happy to see that neighbours can still help each other out, so please be proud of this fact.

My first question is does the bank know his full situation. I have been in trouble with O/D before and I had the account sent to an in house collection department. They set up a reducing O/D, which reduced by a set amount per month. I know this may confuss your friend, but may help in the long run and get the bank off his back.

One piece of advice the CCCS gave me when I joined my DMP is open a new account with a different bank and that way the old bank can not istantly cancel your O/D leaving you will little/no money. Again this is a hasle and something that may confuse your friend but it might be worth thinking about.

I hope your feeling better, espcially as the festive period is near! and that you and your neighbour get things sorted. Please let us know how you get on.


Pete

PS Im just over half your age, so I hope you dont think Im patronising you for supporting your neighbour, I work in health care and so many times I see people left on there own. Every now and then I see an act of humanity or support that makes me believe the human race is worth fighting for. Stories like yours help me continue in my profession. So thank you!

silv.surfer

Hi peteuk

I have had some amazing news today from him - I will enlighten when he puts his notes that I told him to write down everything before I even believe it - It started when I realised that an Interest charge was due 19/20 Dec and I lent him another £15 and told him to pay in today urgent, He didnt want to take it because it added to the £45 already lent but I insisted and when he went into Bank there was the very nice helpful Lady from previous and it all went on from there - I am not going to elaborate now until I see his notes because she made it more than I had worked out to claim - nuff said he phoned - unusual - and I could hear a crack in his voice, which for a big muscelly intimidating looking bloke is amazing - he must have been jumping for joy on the phone - I have always believed that there is no coincidence - everything is intended.

I will stop there for today - cant update until Tues early evening but do have a look - must stop now otherwise I might let cat out of bag before I am sure there is a Cat :j

silv.surfer

I got my Friend's note when I got in today late afternoon - I can see why he was so happy but looking at it carefully I think the bank realised I was going to claim the PPI and I think what they have offered looks good to him - not understanding - but I think they are having him over again - cant speak to him until Wed Evening to confirm what I think they are up to - I will quote from his Note and then put underneath what I think they are doing.

Quote : Went to Barclays to pay Interest Charge due 19/20 Dec as told to -I explained the reason for being there - the Lady had a look at my old statement (dont know if he means Nov one ) She asked a co-worker for advice - made phone call then told me

1. getting form posted 2/3 days
2. get my Friend to help fill in (thats me )
3. make photo copies
4 if successful 10% off O/D for the next 12 months. - £100 per month = £1,200 and to carry on with the £8 PPI payments Quote

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What I think they are doing is Telling him to Claim on the PPI which he probably should have done when he was Redundant 1st Jul 08 but he will still be paying Interest and PPI = Total £22.61 so not £100 back only £77.40 p.month = £928.80 only over 12 months Not £1,200 - he has paid £8 PPI for 42 months at least since Lost Job so £336 would not have been paid if had claimed in Jul 08 it his money anyway.

I particularly like the No.4 If successful.

I am wondering how I can tell him that I dont think what they are proposing is the best thing for him. It would mean that he has to keep very tight control for 12 months which will be very hard on JSA. It depends how much he trusts me whether he will take what I believe is the better Option Claiming back the PPI

I want to claim back the PPI totally which would approx £400 plus ( dont know how much PPI before Redundant Jul 08) that would reduce O/D by 1/2 and with Interest £7 plus and no PPI is more managable and incentive to work hard therefore Bright light at end of tunnel

I appreciate that boys and girls posting on this Forum are not professionals and wondered if I could be directed to a good section for Urgent advice - I will have to go to the Bank with him next week cos this has speeded up now, so need Banking Experience help to confirm my conclusions.

Many Thanks for all the help I have had on here :beer:

silv.surfer

Bumpety Bump

Can anyone point me to any Bank Experience Section for advice ( see my previous post) that what I suspect it correct and Barclays are trying to pay out on this PPI 4 years after he was made Redundant instead of my propesed trying for Reclaiming this PPI

Any advice appreciated on advising my Friend - I think they are having him over again. What say you.

Thanks

silv.surfer

Bumpety bump

Can anyone point me to a section that can advise as to whether what I suspect of Barclays in correct.

I think they are trying to pay out on the PPI 3 1/2 years after he was made Redundant and want him to carry on paying £8 Premium and Interest of £14.61 which would mean instead of them paying £100 p month it would only be £77.40 so instead of 1,200 repaid its only £928 on this 1K O/D

If he had known to claim when Redundant he would not have paid £192 in Premiums to date - I think its better to Reclaim all PPI

Can anyone please confirm or correct me - for me to help my Friend

silv.surfer

Bumpety bump

Please advise me to help my Friend - I think Barclays are trying to hid the evidence of miss sold PPI

Please help me to help my Friend :beer:

MissShoes

Bump bump bump

silv.surfer

Bumpety Bump

I have also posted on Reclaiming PPI Thread with updated information of Barclays latest activities regarding my Friend - I believe they are definatley trying to 'bury the body '