Claiming in a DMP/IVA (merged)

Tootsie_Roll

Twinkly wrote: »

Arguements I will not enter into but I do enjoy discussion and you have raised question I'd like to answer.

I would assume that overdraft becomes due and payable on official recall whether it be a nice letter asking for it under an arrangement or a nasty official default notice and demand for immediate repayment.

I agree

Twinkly wrote: »

With regard to written agreements, some state in writing that provided payments are maintained no further recovery action will be taken. Should ROSO not be regarded as 'further recovery action' that they stated in writing would not be taken ? This is a further example that all circumstances are different and that the CCCS quite rightfully states that there are too many variables to give clear answer.

Also agree.<O:p</O:p

Twinkly wrote: »

'Due and payable' in itself is open to further interpretation. Since the high cost of bank charges are deemed unlawful in the first instance and repayable then it follows logically that a refund of charges is, put simply, returning something that was stolen.

And therefore entirely appropriate that returned to the account that incurred the charges although I do not agree with your terminology e.g. 'stolen'.

Twinkly wrote: »

In a lot of DMP/IVA situations the customer would not have found themselves in such unmanageable debt if the bank had behaved lawfully and had not applied high charges, crippling them financially and substantially increasing existing debt.

Very, very debatable. As a sweeping generalisation it is always the bank account that is the first indicator of someone getting into financial trouble by bouncing dd's and cheques etc. It then follows that loans, mortgages etc then stop getting paid resulting in financial meltdown. Is it the fault of the bank that the payments get missed in the first place ? I certainly don't think so. I agree that the charges add to the debt outstanding but if as we are discussing here the charges are refunded then they just cancel each other out.

Twinkly wrote: »

Reclaiming bank charges on a scale of 6 years is a relatively new phenomenon and isnt clear cut by any means, hence forums and sites such as this one. I dont believe ROSO accounts for the unlawful actions of a bank in these circumstances and its automatic application under such is tantamount to legalised theft. I believe ROSO was meant to more properly apply to general and lawful issues such as the missed payment on a perfectly legal consumer credit contract. The suitability for application of ROSO against refund of unlawful bank charges should be subject to fresh and detailed investigation.

Well I certainly don't agree with this point. ROSO has been common law for centuries and I believe a bank would be negligent if it did not clear an outstanding overdraft balance with the credit from the charge re-claim. It is simple common sense. Bank makes 'unlawful' charges of say £1,000 to an account. Account is £1,000 overdrawn and account holder recalims the outstanding charges plus interest. Bank apply credit to account and re-pay overdraft that was incurred by the charges in the first place and remainder goes to account holder - seems perfectly logical and reasonable to me.

Twinkly wrote: »

I simply advise that people contact the Financial Ombudsman for help and advice on their particular cases. If there is a way to fight the bank retaining monies they took unlawfully (stole by any other name) then this can only be a good thing.

Of course it is only appropriate to go to the Ombudsman once the banks complaint procedure is completed and a letter of deadlock is issued.

inittowinit33

since january i have been paying money to the cccs as part of a debt management plan. my current account with barclays was 1900 o.d. with an 800 limit. it therefore bacame part of the debt management plan. at the time of starting it,barclays sent various letters including one stating the monthly amount i was offering was too low and therefore they were terminating my agreement with them and passing the debt on to an approved collection agency.i have never been contacted by any such agency and since then no more letters have been sent,i pay the monthly amount to the cccs but do not receive statements from the bank.

1.do i still have a right to claim unfair bank charges?

2.if not,would i be wise contacting the bank to see if the account can be reinstated if i clear the existing debt,(charges incurred over the last 6 years far exceed this),before trying to claim?

princesskez26

inittowinit33 wrote: »

since january i have been paying money to the cccs as part of a debt management plan. my current account with barclays was 1900 o.d. with an 800 limit. it therefore bacame part of the debt management plan. at the time of starting it,barclays sent various letters including one stating the monthly amount i was offering was too low and therefore they were terminating my agreement with them and passing the debt on to an approved collection agency.i have never been contacted by any such agency and since then no more letters have been sent,i pay the monthly amount to the cccs but do not receive statements from the bank.

1.do i still have a right to claim unfair bank charges?

2.if not,would i be wise contacting the bank to see if the account can be reinstated if i clear the existing debt,(charges incurred over the last 6 years far exceed this),before trying to claim?

Hi this thread should help you out re:claiming in an iva/dmp

http://forums.moneysavingexpert.com/showthread.html?t=423917&highlight=claiming+iva

Kez

LozBingley

inittowinit33 wrote: »

since january i have been paying money to the cccs as part of a debt management plan. my current account with barclays was 1900 o.d. with an 800 limit. it therefore bacame part of the debt management plan. at the time of starting it,barclays sent various letters including one stating the monthly amount i was offering was too low and therefore they were terminating my agreement with them and passing the debt on to an approved collection agency.i have never been contacted by any such agency and since then no more letters have been sent,i pay the monthly amount to the cccs but do not receive statements from the bank.

1.do i still have a right to claim unfair bank charges?

2.if not,would i be wise contacting the bank to see if the account can be reinstated if i clear the existing debt,(charges incurred over the last 6 years far exceed this),before trying to claim?

You have the right to claim any of the charges from the past 6 years but they may pay it towards what money you owe them.

Its still worth doing as it will reduce your debts

Evie's_mum

Hallo money types, I could do with your sage advice.

My husband and my debts (about £15,000) are being co-managed by a debt charity due to our financial uselessness. Due to said uselessness, we have had lots of charges over the years. I want to claim some of these back, but am I risking the wrath of 2 financial institutions with whom we have negotiated minimal payments? Are they likely to rescind on these? I really don't want to risk upsetting the apple cart as things are quite precarious - but I could really use the capital to help pay off these debts.

Has anyone had any experience/advice?

[Sorry if this type of thing has been posted before, I couldn't find it. Pls feel free just to direct me to the thread if I've made a boo boo]

princesskez26

Evie's_mum wrote: »

Hallo money types, I could do with your sage advice.

My husband and my debts (about £15,000) are being co-managed by a debt charity due to our financial uselessness. Due to said uselessness, we have had lots of charges over the years. I want to claim some of these back, but am I risking the wrath of 2 financial institutions with whom we have negotiated minimal payments? Are they likely to rescind on these? I really don't want to risk upsetting the apple cart as things are quite precarious - but I could really use the capital to help pay off these debts.

Has anyone had any experience/advice?

[Sorry if this type of thing has been posted before, I couldn't find it. Pls feel free just to direct me to the thread if I've made a boo boo]

Hi you will find the following thread helpful to you regarding claiming in a dmp/iva;

http://forums.moneysavingexpert.com/showthread.html?t=423917&highlight=claiming+dmp

Kez

Evie's_mum

Thanks for the map Kez, I will delete this thread so as not to anger folk!

(if I can)

Ange x

imhere2k

I have an arrangement set up on my credit cards and store cards but in setting up originally incurred loads of bank charges. Am sceptical as to whether to try & reclaim incase they ask for all their money back and i end up with CCJ's.
Is it an option to do / has anybody tried this before. Companies are Cap1, Barclaycard, Halifax & CL Finance which bought debt from GE Cap.

SET1978

Please please help!!!

Over two weeks ago I accepted my offer of £3880.00 from the RBS. My account with then has been closed over a year now as I defaulted on my load with them and also had an overdraft. I got myself in a mess with debt, largely due to the banks charges and having no way out. So I decided the only thing that could help me would be to take out a Trust Deed (IVA in England). This means that for the next three years I pay a monthly fee to my Trustee and then after the 3 years the total is split between my creditors. It is a protected Trust Deed, which means that all creditors have agreed to the payments etc.

RBS told me that if my account was fully closed then I would receive a cheque, if it was with collections then payment would go tot them. Can someone advise if I have any chance of getting this cash. If not, surley my monthly payments should be reduced as a large part of the debt would be cleared.

Hoping I get the cheque as I really need it, but would be grateful for any help you can give.

Thanks

LozBingley

imhere2k wrote: »

I have an arrangement set up on my credit cards and store cards but in setting up originally incurred loads of bank charges. Am sceptical as to whether to try & reclaim incase they ask for all their money back and i end up with CCJ's.
Is it an option to do / has anybody tried this before. Companies are Cap1, Barclaycard, Halifax & CL Finance which bought debt from GE Cap.

Go For It!

If you make a claim they will either pay you a cheque or at worse reduce your debt with them! Which is a win in my book!

The claim is with the company that charged you! If that was GE Capital then they will pay you the money not CL Finance.

This principle also applies if any of your other accounts have been re-financed, as with my Marbles claim, in the form of a loan. They paid me rather than paying towards the loan they set up that cleared the card off!