Would like to reclaim charges but have loan and overdraft!

cheeseontoast_2

Hello all, I am new to posting but am a long time lurker. I am with HSBC and I would like to reclaim the disgusting charges that have just resulted in my debt being even worse. However, I have a loan which I pay off from my current account and I am also overdrawn. I know that it is possible that the bank may choose to close my account if they agree to refund the charges. Does anybody know where I would stand as I have a loan and overdraft? I am worried that if I try to reclaim, they will close the account and demand that I repay the loan and overdraft upfront which obviously I don't have the money to do at the moment.

I would appreciate anybodys advice/experience.
Thanks in advance.

princesskez26

cheeseontoast wrote: »

Hello all, I am new to posting but am a long time lurker. I am with HSBC and I would like to reclaim the disgusting charges that have just resulted in my debt being even worse. However, I have a loan which I pay off from my current account and I am also overdrawn. I know that it is possible that the bank may choose to close my account if they agree to refund the charges. Does anybody know where I would stand as I have a loan and overdraft? I am worried that if I try to reclaim, they will close the account and demand that I repay the loan and overdraft upfront which obviously I don't have the money to do at the moment.

I would appreciate anybodys advice/experience.
Thanks in advance.

Hi, any sum claimed back from re-charges, the bank do have the right to offset any of this against any debt outstanding on the account in question.

As for the loan, no they shouldn't be able to make you repay the loan just for re-claiming on a bank account as the loan is covered by seperate terms and conditions,

Kez

bengal-stripe

Your loan is a separate agreement and, presuming it’s fully paid to date, the bank cannot change the terms of that particular contract.

All overdrafts are payable on demand. The bank has the right to call in an overdraft at any time.
How am I to know, what your bank is likely to do?

cheeseontoast_2

princesskez26 wrote: »

Hi, any sum claimed back from re-charges, the bank do have the right to offset any of this against any debt outstanding on the account in question.

As for the loan, no they shouldn't be able to make you repay the loan just for re-claiming on a bank account as the loan is covered by seperate terms and conditions,

Kez

Thanks for your reply. I do not mind using any fees refunded to pay off the overdraft but what if the refund doesn't cover the overdraft? Would they still expect the rest paid straight off if they chose to close the account?

Thanks in advance

cheeseontoast_2

bengal-stripe wrote: »

Your loan is a separate agreement and, presuming it’s fully paid to date, the bank cannot change the terms of that particular contract.

All overdrafts are payable on demand. The bank has the right to call in an overdraft at any time.
How am I to know, what your bank is likely to do?

Thankyou. I didn't know that the bank has a right to call in an overdraft at any time. I know nobody can say for sure what they will do. I am just gathering as much advice and experience before I make any claims.

princesskez26

cheeseontoast wrote: »

Thanks for your reply. I do not mind using any fees refunded to pay off the overdraft but what if the refund doesn't cover the overdraft? Would they still expect the rest paid staright off if they chose to close the account?

Thanks in advance

Im not sure on that to be honest, if they was to close the account and expect the rest paid i'm sure you would be able to come to an amicable agreement on an amount you can afford per week/month towards it.

You might find it helpful having a read through the 'has your bank closed your account' thread below;

http://forums.moneysavingexpert.com/showthread.html?t=294880

If they do close your account you can report them to the Financial Ombudsman and they reward up to £200 for them doing so as far as I believe

Kez

aaroncaz

bengal-stripe wrote: »

Your loan is a separate agreement and, presuming it’s fully paid to date, the bank cannot change the terms of that particular contract.

All overdrafts are payable on demand. The bank has the right to call in an overdraft at any time.
How am I to know, what your bank is likely to do?

The OP was asking the question in general to the forum,not you in particular!!

cheeseontoast_2

Thanks for your help everyone.

princesskez26

cheeseontoast wrote: »

Thanks for your help everyone.

Your most welcome we're all here to help each other

Kez

bengal-stripe

aaroncaz wrote: »

The OP was asking the question in general to the forum,not you in particular!!

The OP was putting this question to the forum-members in general. Any particular member who cares to answer, can only base his/her answer on their particular experiences, opinions and individual points of reference. It is not possible for anyone who is willing to reply, to collect the opinions of all members and base an answer on the consensus of all the forum members.

You might be able to give an answer that is based on the collective opinions
of 202,989 registered members, I am not.