Where do I stand?

antispam246

The following issue is part of a much bigger picture but I'd like to focus on a specific part.

I have a student account with Abbey, my overdraft limit was £1500.

Somewhere around mid 2003 I went overdrawn by a very small amount, somewhere in the region of £150x. The reason I went overdrawn is part of the "much bigger picture". Putting that aside, I started to incur charges for being overdrawn. These charges added up fairly quickly and by dec 2003 I was at £1525.57. In the same month I credited my account bringing my balance to £1491.74. At the end of that month when I recieved my next statement, Abbey still threw the overdraft interest charge at me which they had been doing every month since I went over, this amount alone would have only taken me to £1494 roughly. HOWEVER as well as the standard interest charge that month, for the first time ever they threw a further £15 charge at me, taking me back over my overdraft.Thus the following months carried on incurring the STANDARD interest charges. The only time they charge me the £15 was the month when I believed I'd cleared the debt!!! They added a similar charge again in Oct 2004, which was £30 this time round. Leaving me at £1584.78. This is the last time I ever had a statement from the account, due to lack of information coupled with "the bigger picture" I literally let it be, as stupid as it may sound to simply do nothing, in the bigger picture, it's not.

In the light of unfair bank charges and claims. Where do I stand. If I look upon people claiming back unfair charges, am I right in saying the fact people are getting these fees back along with potential interest it's the same a saying these fee's were completely unjustified and shouldn't have occured in the first place? The only reason I am now in extended debt is because Abbey continously threw charges at me and even gave me an extra large charge the month I was able to clear it.

This is part of a 4 year saga including Abbey, Barclays, BarclayCard and Royalmail. All of which I'll most likely be taking to court because of the unbelievable injustice that has been done to me. As I again attempt to finally solve this, I need to know where I stand with the specific issue with Abbey stated above. Ignoring the bigger picture, where do I stand?

oliveoyl

watch martin's video here http://video.google.com/videoplay?docid=9061472225374011135&q=bank+charges+martin

U've_been_framed

Martin and others can advise about bank charges.
However, if you are still a student why are you paying £55/month off your student loan? This money could be used to pay off other more expensive debts.
If you are not a student, find a more suitable bank account.

antispam246

Apologies I forgot a vital point.

oliveoyl wrote:

watch martin's video here http://video.google.com/videoplay?do...arges +martin

Thanks, I have read his articles but it was a few months back and couldn't recall the kind of charges that were inclusive. Although, it's not exactly what I was looking for, thank you though.

UBF wrote:

Martin and others can advise about bank charges.
However, if you are still a student why are you paying £55/month off your student loan? This money could be used to pay off other more expensive debts.
If you are not a student, find a more suitable bank account.

I was forced to defer. It's not relevant right now but I had to leave as I couldn't financially support my family, pay accomodation and tuition fees. I left to seek full-time employment for a couple of years to save, the £55 a month isn't so much of a choice, I'm earning over the £15k threshold.

As for changing banks, yes, i'm well aware of setting up a fallback account for bank charges and more than aware of a change of bank account but right now it's not relevant.

Again, sorry I missed abit, was kinda late when I posted. Having gone into credt, passing the overdraft only due to unfair bank charges, I also recieved several threatening letters for various collectors and solicitors. Please don't ask why I haven't done anything, there' so much more to this and If I had 4 years spare perhaps I'd explain it in full. I briefly posted here about it when I first found MSE.

With the continous charges and the debt being passed onto collectors and solicitors, couple that with the fact I'm only in debt because of bank charges taking me back over my limit, a limit which I had cleared at one point, where do I stand? What's my best approach here, specifically with this problem? Do I first approach these peopel sending the threatening letters, explaining what has occured and how I intend to claim the charges back which put me in the position in the first place? Will that be enough to basically say "You have no right to send me these letters and this debt doesn't actually exist"? Should I approach Abbey first, and by that I mean, initiate the process of reclaims? Regardless of the fact they have passed the debt on? If I initiate the reclaim process and suceed, where will I stand with the debt issued by the collectors? As you can guess, 1 or 2 of the debt collectors have added they're own interest.

I haven't initiated claims because I'm unsure of the above, it's part of a bigger reclaim process in which my so-called debt to Abbey is legitimately down to another entirely different bank. So even if I stood nowhere with Abbey on this issue I'd most certainly have a fallback.

I really want to get hold of my missing statements, which could be done if I start the reclaims process, however due to the circumstances I don't want them throwing their weight about on my doorstep until I'm clear on several other things. By this I mean, they on't have my current address, so is it ok to ask them to send the statements to an address of my choice? If I can get hold of my missing statements I can ensure there are no holes in my argument, although 99% adamant there are none, it's always best to be 100% sure eh (:

chevalier

I do not see that your case would be any different to anyone elses regarding unfair charges. They have been judged to be disproportionate to the amount it costs to administer the account. However interest due to you being overdrawn I don't think you can get back, just charges for going over your limit or them writing you a letter and charging you £30 when it only cost £1 to do.

As regards the address thing. If you are disputing the debt (which you are if you are reclaiming the charges, and your debt is basically made up of charges, then I am unsure as to why you don't want your statements sent direct to you? But putting that aside, there are standard template letters on the reclaiming your charges thread to ask for your statements etc.

chev

antispam246

chevalier wrote: »

I do not see that your case would be any different to anyone elses regarding unfair charges. They have been judged to be disproportionate to the amount it costs to administer the account. However interest due to you being overdrawn I don't think you can get back, just charges for going over your limit or them writing you a letter and charging you £30 when it only cost £1 to do.

As regards the address thing. If you are disputing the debt (which you are if you are reclaiming the charges, and your debt is basically made up of charges, then I am unsure as to why you don't want your statements sent direct to you? But putting that aside, there are standard template letters on the reclaiming your charges thread to ask for your statements etc.

chev

It's the debt collectors. Where do I stand with them?

Ok, you're saying you don't think I can claim the interest charges but the charges for going over the limit. Here let me get some exact figures to clear it up abit.

-My overdraft limit is £1500
-Oct 2003 I was -£1522.07 (this is the earliest statement I have showing me overdrawn)
-Oct 2003 I was charged "Interest incurred while you were overdrawn -£1.29"

From that month up and till Jan 2004 I was being charged the same fee type but slightly increasing every month.

-Jan 2004 I was -£1491.74
This was after crediting my account with £33.83.
-Jan 2004 I was charged "Interest incurred while you were overdrawn -£2.26"
This would have placed me at -£1494, however
-Jan 2004 "You went over your overdraft limit -£15.00"
This put me back over my overdraft limit leaving me at £1509.00 for next month Feb 2004.
From there onwards I was charged a varying "interest incurred while you were overdrawn" up and till Oct 2004.
-Oct 2004 "Interest incurred while you were overdrawn" -£30.40

So the statement indicates this -£30.40 fee as interest.

The charge of -£15 in Jan 2004 is what screwed me over. It took me back into credit and allowed the bank to keep charging me interest after. That -£15 charge is what I'd be allowed to claim back, correct? If that's the case claiming it back would be the same as saying it shouldn't have been there in the first place, an unfair charge, which means my balance would still be within it's overdraft at £1494.

Therefore, I would and currently shouldn't be incurring any interest charges whatsoever or any other over limit charges?
Therefore, this debt should never have been passed onto debt collectors.
I should never have recieved a single threatening letter from any debt collector or solicitor.
I should certainly not be looking at having to pay excess fees to any debt collector or solicitor.

The last statement I have which is when they passed it onto a debt collector stated my balance at -£1615.18.
One of the debt collectors is issuing me with £200 legal fees ontop -£1815.18

ALL OF THIS, is because of a £15 charge by Abbey that took me back over my overdraft in Jan 2004 when I had paid in enough money to settle and settle the interest charge.

Where do I stand, with Abbey, with the debt collectors and solicitors?

As far a I'm concerned I owe Abbey nothing more than my £1494 overdraft. However the more I've looked ta this over time, the more I read the threatening letters I've recieved, the stress and anguish it's caused, all because of a charge that was unfair, I'm just about ready to tell Abbey to stick their overdraft where the sun don't shine. It just seems like I've been totally screwed over.

Here I am at the time, a student, financially supporting myself completely, my family, trying to study for an exhaustive degree and I get !!!! like this.

and do you know what? In the "bigger picture" this is absolutely nothing, this is a miniscule example of how I've been screwed over by a large company. The other problems I have with other companies are not questionable in the slightest. I hold before 100% proof of being bent over backwards and shafted sideways.

With this Abbey issue, I'm unclear on where I stand, which is why I'm seeking advice here. I need to know where I stand with this very specific example I have posted about in this thread so that I can weave it into everything else ensuring that I'm not overlooking anything ensuring that I can stand solidly on both feet and claim, you've screwed me over Abbey, and you don't have a single leg to stand on.

Apologies for coming across harshly, it's not aimed at anyone here replying, I really appreciate all your help. It just makes me physically sick to see how I've been treated by various companies.

You, the customer make the smallest of mistakes, miss a payment and they jump all over you, hound you into the ground till you break and do whatever they ask because you're under that much pressure. When it's the other way round, what do you do? Me, I want some damn justice.

Edit Sorry, addressing you query as to why I don't want them to send to my current address. Quite simply, I'm afraid. I hold before me several threatening letters, people claiming they'll turn up at my door step, break in, and take whatever the hell they want. That's why. Until I can sey my mind at rest, that as above, I can stand on both feet, and tell all and sundry to shove it, I don't want any company involved in this matter to know where they get hold of me to do as they please.