Reclaiming Bank Charges - Advice

City1

Hi,


Newbie here - please be gentle!


I am looking for some advice, I bank with the HSBC. I am constantly going over my overdraft and thus incurring LOADS of charges. I quite literally do not have a pot to !!!! in! I am in massive debt, due to a number of reason. However the bank constantly taking these charges is making it impossible to get out of this debt. At present my wife and I are living off credit cards, and sold both cars to pay bills and bought two cheap cars via car finance in order for us to go to do our jobs! We are not going to pursue DMP or IVA's as this isn't required, our situation is temporary, long term we will be fine.


But getting the charges back will give us a push in the right direction. I was wondering if anyone can offer any advice on how to successfully reclaim these charges.


Cheers

dunstonh

You notify the bank that you are in "financial hardship" and that the charges being levied have trapped you in a cycle of constant debt and ask that they consider refunding charges to get you out of this cycle.

You need to make them aware of any debts you are in arrears and ideally supply them with a budget of your incomings and outgoings. Typically they will look to verify your financial hardship by looking at your statements to see if you are living in hardship and have no luxury spending (e.g. no sky tv, mobile phones, dining out etc - some even look at the shops you spend your money in - one person reported that they were rejected as they shopped in Next).

If the bank agree you are in hardship they have a range of options available to them. This can include a refund of recent charges but it can also be a case of suspending charges for the next x months to allow you get back on top of things.

Aquamania

City1 wrote: »

Hi,


Newbie here - please be gentle!


I am looking for some advice, I bank with the HSBC. I am constantly going over my overdraft and thus incurring LOADS of charges. I quite literally do not have a pot to !!!! in! I am in massive debt, due to a number of reason. However the bank constantly taking these charges is making it impossible to get out of this debt. At present my wife and I are living off credit cards, and sold both cars to pay bills and bought two cheap cars via car finance in order for us to go to do our jobs! We are not going to pursue DMP or IVA's as this isn't required, our situation is temporary, long term we will be fine.


But getting the charges back will give us a push in the right direction. I was wondering if anyone can offer any advice on how to successfully reclaim these charges.


Cheers

http://www.moneysavingexpert.com/reclaim/bank-charges

Post your SoA on the DFW board for advice on how to address your debts