Please solve this puzzle

tor

This is my current situation. (Used fictitious figures for this)
Say you owe bank :-
Overdraft = £ 800
Charges = £700<O:p</O:p
TOTAL = £1500
<O:p_________________________
DEBT Passed to DCA = £1500<O:p</O:p
Repayments to DCA = £900<O:p</O:p
Current debt to DCA = £600<O:p</O:p
________________________
<O:p</O:p
Reclaim charges from bank = £700;)
<O:p</O:p
Still owe DCA

---

£600
<O:p</O:p
How does this work ????????

What actually happens to the debt???

princesskez26

tor wrote: »

This is my current situation. (Used fictitious figures for this)
Say you owe bank :-
Overdraft = £ 800
Charges = £700<O:p</O:p
TOTAL = £1500
<O:p_________________________
DEBT Passed to DCA = £1500<O:p</O:p
Repayments to DCA = £900<O:p</O:p
Current debt to DCA = £600<O:p</O:p
________________________
<O:p</O:p
Reclaim charges from bank = £700;)
<O:p</O:p
Still owe DCA

---

£600
<O:p</O:p
How does this work ????????

What actually happens to the debt???

Did they not offset the £700 you claimed back in bank charges, against the outstanding debt to clear it and pay you the excess £100.

If they paid you the £700 then yes the debt will still be outstanding,

Kez

tor

Thanks Kez, I have not got my charges back yet, the example is hypothetical.
But if as you say the bank gave me back the excess £100 then the DCA has got the majority of my unlawful charges.
If this is the case I don't really win unless the DCA repay the unlawful charges part of the debt back to me.
Unless I'm completely missing something which is not obvious to me.

princesskez26

tor wrote: »

Thanks Kez, I have not got my charges back yet, the example is hypothetical.
But if as you say the bank gave me back the excess £100 then the DCA has got the majority of my unlawful charges.
If this is the case I don't really win unless the DCA repay the unlawful charges part of the debt back to me.
Unless I'm completely missing something which is not obvious to me.

I can see what your saying but thats the way it goes they clear the debt with the reclaiming. They charge x pounds pay back the same so unless the accounts in credit no you don't see the money as the debt is still outstanding If they didn't charge in the first place there'd be no money to reclaim.

Maybe someone else can explain

LozBingley

tor wrote: »

Thanks Kez, I have not got my charges back yet, the example is hypothetical.
But if as you say the bank gave me back the excess £100 then the DCA has got the majority of my unlawful charges.
If this is the case I don't really win unless the DCA repay the unlawful charges part of the debt back to me.
Unless I'm completely missing something which is not obvious to me.

The charges claim is against your bank not the DCA

If you were charged £700 that took you overdrawn to £800 then the debt passed to the DCA should have only been £800 not £1500. If the charges are new and added to the £800 then the debt is £1500 which is now payable to the DCA.

ps don't accept a low offer - the more money you get out the bank the more you can pay off the debt!