arrears charges

conza

I have recently paid off my mortgage(with an awful lot of help from my family) to the Woolwich bs after struggling for 20years .
The mortgage was taken out and an endowment policy was started to run along side and pay off at the end of the term 20yrs but we ran into financial trouble and after a year and a half the endowment went by the wayside and was never seen again. we then took out a home improvement loan which ran alongside the mortgage. During this period we started getting an extra charge on each month for arrears which was between £30 - £40.( £60-£80 per month) this was on the two accounts and this continued right through until the summer when they were paid off.
Is there any way I can reclaim these charges ? and if so how do I go about it?

dunstonh

Is there any way I can reclaim these charges ?

Since the court case was won by the bank, reclaiming of charges similar to that has been harder. However, even before the court case, the banks were willing to go to court on arrears charges and they usually won.

The FSA found a few subprime lenders it was not happy with on arrears charges but the mainstream prime lenders didnt have those issues and the charges are considered fair.

Credit-Crunched

conza wrote: »

I have recently paid off my mortgage(with an awful lot of help from my family) to the Woolwich bs after struggling for 20years .
The mortgage was taken out and an endowment policy was started to run along side and pay off at the end of the term 20yrs but we ran into financial trouble and after a year and a half the endowment went by the wayside and was never seen again. we then took out a home improvement loan which ran alongside the mortgage. During this period we started getting an extra charge on each month for arrears which was between £30 - £40.( £60-£80 per month) this was on the two accounts and this continued right through until the summer when they were paid off.
Is there any way I can reclaim these charges ? and if so how do I go about it?

So you were in arrears on a secured debt, the mortgage company did not enforce the sale of the property. They charged you a nominal fee to cover the unpaid debt (which they then have to source). This resulted in your retaining your home and not being kicked onto the street.

Now you would like to reclaim these fees, that you accrued, through not paying your debt?

I give up, i really do!

conza

Credit-Crunched wrote: »

So you were in arrears on a secured debt, the mortgage company did not enforce the sale of the property. They charged you a nominal fee to cover the unpaid debt (which they then have to source). This resulted in your retaining your home and not being kicked onto the street.

Now you would like to reclaim these fees, that you accrued, through not paying your debt?

I give up, i really do!

the debt was paid , the problem was that we could never get in front of the arrears and were then charged every month .
now you can give up.

Credit-Crunched

conza wrote: »

the debt was paid , the problem was that we could never get in front of the arrears and were then charged every month .
now you can give up.

If you did not get in front of the arrears, then by their very nature they will still be arrears?

If you paid the arrers, and the debt then you would have not been receiving the charges?