Reclaiming Bank Charges if I'm no longer in Financial Difficulty

stclair

Goldie4711 wrote: »

Yes. the reason I didn't claim in 2003 was that the provisions for financial hardship only came into force in 2009 (Banking Code) and 2011 (Lending Code).
I am certain I have a case. Thanks for your reply.

No worries but don't be surprised if the bank tell you they do not hold records for the time period you may be referring to.

Plus you will no doubt be expected to prove you was in financial hardship such a rent arrears etc.

noh

Claims for financial hardship are considered with regard to your current situation. A financial organisation has no obligation to refund you any money. Their obligation is to treat your claim fairly and if appropriate help you by reducing or waiving fees typically for a few months.
http://www.financial-ombudsman.org.uk/publications/technical_notes/financial-hardship-unaffordable-lending.htm

Goldie4711

Hi.
I am now quoting word for word from Martin Lewis' standard letter template for a bank charges reclaim; specifically where he details situations aiding your case that the charges were unfair ·
"You are / were stuck in a cycle of charges you cannot break out off. If you’ve had charges on charges, and were stuck in a trap of not being able to clear them before new daily or monthly fees are added on top".
Notice the word "were"? I am 100% convinced I can make a back dated claim going back 10 years of genuine financial hardship
I will update the forum with the result of my claim.
Thanks to all for posting today on this subject.

bengal-stripe

Charles Dickens "David Copperfield" - The Micawber Principle:

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

Goldie4711

noh wrote: »

Claims for financial hardship are considered with regard to your current situation. A financial organisation has no obligation to refund you any money. Their obligation is to treat your claim fairly and if appropriate help you by reducing or waiving fees typically for a few months.
http://www.financial-ombudsman.org.uk/publications/technical_notes/financial-hardship-unaffordable-lending.htm

Great resource. Thank you I'll read that

stclair

Goldie4711 wrote: »

Great resource. Thank you I'll read that

Let us all know how you get on. As its already been mentioned hardship is based on your current circumstances not your past ones.

I was part of the team that dealt with the reclaiming of charges when it was heavily in the media and that was case then and im sure it will still be now.

Good luck with it though do not let it put you off trying.

dunstonh

The best thing to do is attempt to claim them back under financial hardship, then when the bank tell you take a long run and jump take the concern to the FOS if you think you have a case.

And the FOS of course have no remit to force the bank to refund charges.

I am now quoting word for word from Martin Lewis' standard letter template for a bank charges reclaim; specifically where he details situations aiding your case that the charges were unfair ·

That will just see your complaint rejected. Are you sure you are reading the latest article. The banks and the FOS no longer consider complaints about unfair charges. The court case put an end to that.

I am 100% convinced I can make a back dated claim going back 10 years of genuine financial hardship

You can make a complaint about the colour of their carpet in the branch. Nothing stops you doing any complaint. However, we are all talking about your chances of success. Many of the banks will only look back at the last 6 months charges if you meet their current hardship criteria. Some will go back longer if you can show you are in hardship now and have been for an extended period.

Goldie4711

dunstonh wrote: »

Are you sure you are reading the latest article. The banks and the FOS no longer consider complaints about unfair charges. The court case put an end to that.

Yes, I am. I am not making a claim under "unfair charges" but under "hardship provisions". I have been in financial hardship for 10 years.
What I am still not sure about is that the Regulations relating to this (Lending Conduct 2011 and Bank code Sch 9: 2009) obviously only received royal assent 8 and 6 years ago respectively AFTER my year of claim (2003) - but my claim goes back even further - a full 10 years - (as suggested by Martin Lewis in his latest bank charges reclaim article). This is my only concern. However, I will have to read the full Acts to resolve my concern (sigh)...but it'll be worth it, I hope

dunstonh

Yes, I am. I am not making a claim under "unfair charges" but under "hardship provisions". I have been in financial hardship for 10 years.

In which case you must not under any circumstances mention the charges as being unfair.

What I am still not sure about is that the Regulations relating to this (Lending Conduct 2011 and Bank code Sch 9: 2009) obviously only received royal assent 8 and 6 years ago respectively AFTER my year of claim (2003) - but my claim goes back even further - a full 10 years - (as suggested by Martin Lewis in his latest bank charges reclaim article). This is my only concern. However, I will have to read the full Acts to resolve my concern (sigh)...but it'll be worth it, I hope

The fact is that there is no legislation that says the banks have to refund. You are totally reliant on their goodwill. They are encouraged to look at current hardship cases and will consider goodwill refunds for those that meet their criteria. If you are going to put a case to them, you want them on your side. Not quoting irrelevant or inaccurate legal terms.

meer53

Goldie4711 wrote: »

Hi.
I am now quoting word for word from Martin Lewis' standard letter template for a bank charges reclaim; specifically where he details situations aiding your case that the charges were unfair ·
"You are / were stuck in a cycle of charges you cannot break out off. If you’ve had charges on charges, and were stuck in a trap of not being able to clear them before new daily or monthly fees are added on top".
Notice the word "were"? I am 100% convinced I can make a back dated claim going back 10 years of genuine financial hardship
I will update the forum with the result of my claim.
Thanks to all for posting today on this subject.

Why have you left it so long to contact your bank about your financial problems ?

Banks expect you to speak to them if you're experiencing problems, then they can help you at the time. If you've been managing, and managing to pay your bills, including any bank charges, they wouldn't know that you were in any sort of hardship.

I deal with financial hardship claims, we would never look at a claim going back 10 years. We would only consider recent issues as has been previously mentioned.