Can I claim back charges - Yes or No?

JCR1987

A one word response will suffice to this question. Yes, or No.

Back in the early 2000's we got into serious debt, therefore incurring many charges on our credit cards and bank accounts. Ultimately we went onto a debt management plan with the wonderful Payplan people, and bit by bit we managed to pay our way out of debt, albeit over 5 or 6 years. This naturally had a affect on our ability to obtain credit for a good while which, in the short term was probably a good thing as it meant we couldn't get ourselves back into debt, but bad in terms of trying to move on and do the normal things of buying a house, car, loan for improvements, etc.

So, as you may have guessed, my question is, the fact that the bank charges incurred had an adverse affect on our financial status and contributed to our then financial hardship, do we have a case to claim these back from the banks?

I wouldn't describe ourselves as being in hardship now as we've managed to pay our way and move on, however back when we were on the debt management plan, times were seriously tight, and even more so in the years leading up to it when the debts/charges/interest was building up.

dunstonh

So, as you may have guessed, my question is, the fact that the bank charges incurred had an adverse affect on our financial status and contributed to our then financial hardship, do we have a case to claim these back from the banks?

No. You are not currently in financial hardship. So, you cannot put a request for refund in on that basis (well you can put one in but they can refuse it for not meeting hardship criteria). You missed your opportunity I'm afraid. You should have done it when you were in financial hardship.

JCR1987

dunstonh wrote: »

No. You are not currently in financial hardship. So, you cannot put a request for refund in on that basis (well you can put one in but they can refuse it for not meeting hardship criteria). You missed your opportunity I'm afraid. You should have done it when you were in financial hardship.

Dam and Blast!

Unfortunately at the time I was in financial hardship there were no questions being raised about excessive bank charges and interest.

oscar52

I disagree with dunstonh.

You will be unable to claim back bank charges, mainly due to the court case and no longer being in Fin. hardship, but there is NOTHING to stop you from attempting to claim credit card charges back.

JCR1987

I think I like the sound of Oscar's advice better. Do we have any standard letters on this site anywhere to send to credit card companies?

oscar52

Not sure where they are now - not used them for a long time. Also depends on if you want a list of charges or not - some companies give you these anyway with a first response.

Personally, I wouldnt be too bothered if they "owed" me £600 in charges but only gave me £500 - its £500 I didnt have before.

Found the link - have a read HERE

JCR1987

So how far back could I claim for? The period in question for me is between 2000 and 2005 when we were spiralling out of control with debts.

dunstonh

So how far back could I claim for? The period in question for me is between 2000 and 2005 when we were spiralling out of control with debts.

You are not claiming under hardship with credit card charges. You are claiming that their charges were too high. Read the article that oscar links to.

justjo71

Hiya, Im pretty new to this site, and havent posted much, but could anyone let me know how you go about claiming back charges under the hardship rules??

we are in a pretty crap situ at the minute and i believe we may be entitled to claim through this

TIA x

Little_Mo_70

justjo71 wrote: »

Hiya, Im pretty new to this site, and havent posted much, but could anyone let me know how you go about claiming back charges under the hardship rules??

we are in a pretty crap situ at the minute and i believe we may be entitled to claim through this

TIA x

Hi Justjo71. All the advice you need to do this is on the MSE site including detailed criteria for the hardship route. Be prepared to prove all your circumstances if asked and also you will need to prove you have approached the bank for help during your crisis. If you no longer have your old statements do the SAR letter requesting all your info including charges etc, using the MSE template letter.

Be persistant with the bank (but polite) and don't claim using legal arguements or you will fail. Just say it as it was, be honest, to the point and state all the pertanent facts. Study the MSE site first for guidance and hints. It's important to get it right first time. YOu have to direct your claim to the bank first before using the Ombudsman should you need to. The bank addresses:
Reclaim Bank Charges Help Thread
Remember there is no guarantee you will get anything back but you have nothing to lose either by trying. Good luck:)

Little_Mo_70

JCR1987 wrote: »

So how far back could I claim for? The period in question for me is between 2000 and 2005 when we were spiralling out of control with debts.

The banks will prob.tell you that you are out of time after 6 years
(statute barred) which is what I was told:(

However, as there are no guarantees of getting anything back within the 6 years either what have you got to lose by asking for it all?