Reclaim Unfair Bank Charges Discussion Area

Rex_Mundi

lornaheath wrote:

I am a Brit living in the USA, do these Recclamation of Bank Charges apply to US Banks, can anyone tell me please?

No, this process will not work in the USA.

Rex_Mundi

PaulW922 wrote:

Can anyone help me with this query? I have recently paid back a debt that was sold on by the original creditor to a debt purchase company (a very 'low' profession in my view!). Given that all rights to collect the debt are assigned to the new owner, then presumably any claim for unfair penalty charges should also be directed at the new owner too, rather than the bank that imposed them in the first place..?

It was the bank that applied the charges, and you need to get them back off the bank. You can do this even if they have now closed your account, and passed your debt over to a collection company.

Rex_Mundi

bendeneo wrote:

I have worked out all the unfair charges from HSBC, however in addition to this there are almost monthly charges that are termed 'Total Charges' and these range from £18 to £100..... although they are normally £25

It just so happens I came accross a thread dealing with these charges recently. With a personal account at HSBC, you can reclaim these charges. With a business account, this charge may include fees you cant reclaim.

PaulW922

Rex_Mundi wrote:

It was the bank that applied the charges, and you need to get them back off the bank. You can do this even if they have now closed your account, and passed your debt over to a collection company.

Thanks Rex - but they haven't passed the debt on to a collection agency - they have actually sold it to someone which is why I am not so sure..

Paul

Getbackintheblack

Hello there

Does anyone know if this applies to loan companies as well as banks, as i was subjected to some horrendous charges and interest by IGroup

Thanks in advance

Rex_Mundi

PaulW922 wrote:

Thanks Rex - but they haven't passed the debt on to a collection agency - they have actually sold it to someone which is why I am not so sure..

Even if they've sold the debt on. You still need to reclaim the charges from the bank. This is nothing to do with the company that now owns the debt.

Edinburghlass_2

Getbackintheblack wrote:

Hello there

Does anyone know if this applies to loan companies as well as banks, as i was subjected to some horrendous charges and interest by IGroup

Thanks in advance

It can apply to loans if you have late payments for instance, but the interest is part of the agreement you made when taking out the loan.

Edinburghlass_2

happywithlife wrote:

Hi there -

I have a number of friends who have successfully claimed charges, and am aware that I have to make the move, but I'm worried.

I was in debt difficulty and signed up with a charitable credit counselling service who manage my debt payments to those who I owe, of which HBOS is one.

My question is, if I make the step to start this charge reclaiming, will HBOS get annoyed enough to cancel the agreement they entered into with me, whereby my debt is currently being managed and thus not paid back to them in the manner which they would prefer?

The daft thing is, if they gave me the charges, I could pay everyone back a little quicker!

I'm just eager to establish the sensible thing to do.

Many thanks

happywithlife

They shouldn't cancel the agreement but they will probably expect the money to be paid towards the debt.

Check out this thread...

http://forums.moneysavingexpert.com/showthread.html?t=306355

treasureirealnds

i had the same from abbey. Pages and pages. i closed my account nearly 2 years ago. I wondered if they'd just sent me full pages to wind me up, instead of just sending me list of charges. i went thru it with a fine tooth comb several times, highlighted charges and sent it back with the stage 2 letter. make sure u keep a copy of statements for yourself

justustwo19

hiya all, have been reading the posts here and decidd to bite the bullet and try to get the money that A&L have been stealing off me over the years. I have an A&L Premier Account with overdraft limit of £350,and have been unable to work for two years due to mental health illness (inc hospitilisation)and was willing to accept the unavoidable charges that i inevitably started building up because i felt that once i got well i could easily clear them.i was getting regular £25 charge for day 1-5 and another £25 for day 5+.This just caused further trouble as it constantly put me in an unauthorised limit(slightly over the £350),but was 'happy' to accept them because i felt that i would eventually get back to a well paid employment and would easily clear them.Then in December 06 they wrote to me with out warning (previous letters had been offering me other services!)saying they were closing my account and wanted the @£500 overdraft paid back in full within 30 days .I phoned them up and tried explaining my case, that i had been paying good money into the account two year ago(@£1500 per week) but had suffered a major illness which meant i ended up not working and on sickness benefit.They did not want to listen to me and would only accept full repayment of the £500 overdraft and the closing of the account.If they had just allowed me to clear the unautorised part of the overdraft @£150 i would have quite happily accepted all of my charges ,but because of their treatment i want to go back over the whole time of my account and get all the charges refunded.
What i need to know is, They want the full amount @£500+ to be paid to them any day now, otherwise they have stated they will take debt recovery action(i wont say which day cause im sure they would monitor this site and I dont want to give them any upperhand) .
Should i pay this and then take the action by which time the account would be closed or refuse to pay the £500 and send for my statements telling them that i dispute the monies i owe them(would certainly be several hundred pounds and possibly enough to clear the whole overdraft).
It has now become a principle to me and i totally willing to go the distance with it but just need the best way to proceed any suggestions kindly recieved thanks