Help Re Understanding My Daughter's Statements

magicmadam

Edinburghlass. I know you have responded to this in another place, for which I thank you. I had previously printed out most of the links you gave, read and reread them several times.
I just cannot understand things in my daughter's statements, as listed below.
I would appreciate someone to answer my questions if possible please to get me started, otherwise I shall be ringing the bank every five minutes.
Thanks in advance.

1. The last two columns are headed 'STATEMENT BALANCE' and
'CLRD FOR INTEREST' What does this one mean?
Under the last heading, some have DR against the amount, some not.
What does this mean?

2. In first column headed 'DETAILS' several items listed as 'PAID REFERRALS 1@ £25.00' Is this something I can claim for?

The heading says 'BANK ACCOUNT + PERSONAL OVERDRAFT' Do I have to disregard the Pesonal Overdraft bit (I don't know what it is).
Her account was closed 17 Oct 06 with the 'clrd for interest' column showing £1590DR on 9th October 06. This has been passed to a collection agency.
We are seeing a CAB Advisor regularly to try to get things sorted out, but I am trying to do the 'reclaim charges' on my own. Only just received the statements.

I really am struggling - I've never been overdrawn or had a loan etc. so my statements are easy to read!!

Please, any help you can give (in very plain words) would be appreciated.
Thanks in advance. MM
P.S. I have printed out Martin's guides, but am still having problems.

LozBingley

magicmadam wrote: »

Edinburghlass. I know you have responded to this in another place, for which I thank you. I had previously printed out most of the links you gave, read and reread them several times.
I just cannot understand things in my daughter's statements, as listed below.
I would appreciate someone to answer my questions if possible please to get me started, otherwise I shall be ringing the bank every five minutes.
Thanks in advance.

1. The last two columns are headed 'STATEMENT BALANCE' and
'CLRD FOR INTEREST' What does this one mean?
Under the last heading, some have DR against the amount, some not.
What does this mean?

2. In first column headed 'DETAILS' several items listed as 'PAID REFERRALS 1@ £25.00' Is this something I can claim for?

The heading says 'BANK ACCOUNT + PERSONAL OVERDRAFT' Do I have to disregard the Pesonal Overdraft bit (I don't know what it is).
Her account was closed 17 Oct 06 with the 'clrd for interest' column showing £1590DR on 9th October 06. This has been passed to a collection agency.
We are seeing a CAB Advisor regularly to try to get things sorted out, but I am trying to do the 'reclaim charges' on my own. Only just received the statements.

I really am struggling - I've never been overdrawn or had a loan etc. so my statements are easy to read!!

Please, any help you can give (in very plain words) would be appreciated.
Thanks in advance. MM
P.S. I have printed out Martin's guides, but am still having problems.

'CLRD FOR INTEREST' = Cleared For Interest, this means it is used to calculate interest payments on the account. Cheques take 5 days to clear (at most banks) so the balance in not Cleared For Interest till day 5.

DR means Overdrawn! ie 200DR means you have minus (-) £200 in cleared funds.

'PAID REFERRALS 1@ £25.00' = the fee they charge when the item you have tried to pay out would taken you over your limit. These are the fees you can claim as it only cost the bank £2.50 - £4.50 (max) to refer a payment. After they have refered (or looked at) a payment then pank may or may not pay the item in question. If they do pay it, you go over your limit and they then charge another fee, either Over Limit or Unauthorised Overdraft Fee - these are both fees you can claim too

The account was in overdrawn by £1,590 when it was closed.

Any fees you claim back should be paid directly to you but you should use this money to clear off the debt with the collection agency.

If you need further advice you will find my email address in my profile and I'm happy to help without charge!

magicmadam

Dear LozBingley. Thank you so much for that helpful reply, it makes things a bit clearer for me. I have printed it out.
It is actually my daughter's account and have already told her that if any fees are repaid they will be used to pay off the debt.
If you read my last para you will see that I say 'I have never had an overdraft, loan or gone overdrawn' with my own accounts - so hers are difficult to read and sort out. Also very small print.
I have to do other things now but will be most grateful to use your email if I get stuck (which I am almost sure to do!!). May not be for a few days.

With sincere thanks MM