I'm broke but just worked out I have £3500 in bank charges from HSBC - Can I claim?!

ladyasmo

Hi All,

So back in 2007 when there was lots of fuss over bank charges I submitted a claim through an external company. Shortly after this the claim was not carried on with due to the legal proceedings.


I have recently been going through some hard financial times (Had a baby and am now only working part time etc) so out of interest I have spent this morning going through my statements. So since 2004 I have accumulated £3500 in bank charges through HSBC. It's terrible really, this is from when I was 16, but still no excuse.

Anyway, what are my chances of claiming this back? I currently take home £900 in wages, plus £90 child benefit, no tax credits or anything else. My outgoings for rent and bills are £600. That leaves me with £300 a month to travel to work, shopping, and any other necessities.

I have an overdraft with HSBC of £1000, I live in it constantly, and for the last 6 months have not been out of it. I also have some other small debts maybe amounting to £800.

I would like to claim to get these charges back. For the simple fact that at this current time there is no way I can pay back my overdraft or these debts. Everytime I get post I dread it being a letter from HSBC saying they are stopping my overdraft. If i could claim my charges back I could pay off my overdraft (and cancel it) and start on a clean slate, maybe even start some savings!

I am worried however that if I put a claim in HSBC will instantly stop my overdraft (and then I have no way of paying for rent etc).

Any thoughts are greatly appreciated. thanks!

Premier_2

ladyasmo wrote: »

Hi All,

So back in 2007 when there was lots of fuss over bank charges I submitted a claim through an external company. Shortly after this the claim was not carried on with due to the legal proceedings.


I have recently been going through some hard financial times (Had a baby and am now only working part time etc) so out of interest I have spent this morning going through my statements. So since 2004 I have accumulated £3500 in bank charges through HSBC. It's terrible really, this is from when I was 16, but still no excuse.

Anyway, what are my chances of claiming this back? I currently take home £900 in wages, plus £90 child benefit, no tax credits or anything else. My outgoings for rent and bills are £600. That leaves me with £300 a month to travel to work, shopping, and any other necessities.

I have an overdraft with HSBC of £1000, I live in it constantly, and for the last 6 months have not been out of it. I also have some other small debts maybe amounting to £800.

I would like to claim to get these charges back. For the simple fact that at this current time there is no way I can pay back my overdraft or these debts. Everytime I get post I dread it being a letter from HSBC saying they are stopping my overdraft. If i could claim my charges back I could pay off my overdraft (and cancel it) and start on a clean slate, maybe even start some savings!

I am worried however that if I put a claim in HSBC will instantly stop my overdraft (and then I have no way of paying for rent etc).

Any thoughts are greatly appreciated. thanks!

Give a man a fish and you feed him for a day.Teach a man to fish and you feed him for a lifetime.
Post your SoA on the DFW board and let us get those debts under control once and for all

ladyasmo

Oh Premier... excuse my ignorance - but what is a SoA and whats a DFW?!!

Premier_2

ladyasmo wrote: »

Oh Premier... excuse my ignorance - but what is a SoA and whats a DFW?!!

Sorry

DFW = Debt Free Wannabe Board

SoA = Statement of Affairs (you'll find details within the sticky on that board)

ladyasmo

Thanks! Much appreciated. i like your saying very much, you are right, I need to long term manage my money - but I see this £3.5k as a possible starting point!

fairyclicks

I can't say i am up on all these things re bank charges (i wish i was cos i could claim back a few quid myself!) but i would say it is worth applying for a new bank account - remember martins mantra - never bank where you have debts! I have gone through a dreadful situation where i lost my job through ill health and am unable to work. My debts literally became a problem overnight. I ended up racking up a big OD and no way to pay it back. It was only when i set up a new account with no OD i was able to have a fresh start and am now paying back my OD with original bank. I would say if you are so scared of loosing your OD you should take the steps to protect your finances by opening a new account. This would mean you would also be free to try and claim back the fees without worry of them taking the OD facility away.

Hope that makes sense! Good Luck with it

Fairy

scottishspendaholic

On that income and with a child, as long as you are working over 24 hours a week, you should definitely be entitled to tax credits?

Do you get any maintenance?

Xxx

angelbob

scottishspendaholic wrote: »

On that income and with a child, as long as you are working over 24 hours a week, you should definitely be entitled to tax credits?

Do you get any maintenance?

Xxx

hi are you single, as you only have to work 16 hours if you want to claim the child care element?
Do you not get any housing or council tax benefit?

ladyasmo

Sorry, I should clear that up, I have a partner who i live with, he works 37 hours a week and earns £15000.

ladyasmo

Sorry, that was a quick post (Putting the boy to bed!). So out of his income, he pays half the bills and rent etc (£600) then £150 for childcare then whatever is left is used for petrol (We live about 12 miles from where we work, can't afford to live any closer).

After reading some other posts I have just completed the HSBC expenditure form on their website. After filling that in that leaves me with £44 per month.

I'm actually quite sad doing that. I have been very good at burying my head in the sand in previous years, but now I have my son I need to buck my ideas up. £44 a month...that needs to be used for treats, to try and save, what if he needs new shoes etc.

Help!

Premier_2

You didn't mention this

ladyasmo wrote: »

Sorry, I should clear that up, I have a partner who i live with, he works 37 hours a week and earns £15000.

or this

ladyasmo wrote: »

Sorry, that was a quick post (Putting the boy to bed!). So out of his income, he pays half the bills and rent etc (£600) then £150 for childcare then whatever is left is used for petrol (We live about 12 miles from where we work, can't afford to live any closer).

After reading some other posts I have just completed the HSBC expenditure form on their website. After filling that in that leaves me with £44 per month.

I'm actually quite sad doing that. I have been very good at burying my head in the sand in previous years, but now I have my son I need to buck my ideas up. £44 a month...that needs to be used for treats, to try and save, what if he needs new shoes etc.

Help!

This was an important omission, as any claim for financial hardship would be assessed based on total household income.