Reclaiming really old bank charges

reformedandthrifty

Hi,

I think I probably know what the answer will be, but I was wondering if it was worth me trying to reclaim bank charges from around 10 years ago?

I banked with Barclays, and had a current account. Admittedly, initially, due to me being young and foolish, I ended up overspending. Initially, I requested an overdraft, which they granted. Some time after, I applied for a barclay card, which they gave me. (£500 limit I think) A bit later, I also applied for a loan, around £3000 I think, which again, they accepted. I was already falling behind on payments, and regularly being charged fees for going over my overdraft, and missing payments etc, and having payments returned. I was even using my chequebook to cash at cheque cashing places each month, just to get by:o. At a pretty desperate point when I was late playing my rent, my landlord locked me out until I paid. So I called Barclays who extended my loan over the phone. Just like that. Needless to say, I fell behind even further, and all these accounts ended up being sent to debt management companies. I have since paid these debts off (and am a reformed character, I might add! :j).

On reflection, of course primarily my spending habits at the time were to blame , but I feel that if Barclays had been a more responsible lender, 1. I shouldn't have been offered so much credit, and 2. they most certainly shouldn't have increased my loan to allow me to fall further into debt, and ultimately incur many, many more charges.

Anyone have any thoughts?

Thanks

dunstonh

but I feel that if Barclays had been a more responsible lender,

Maybe so. However, they didnt spend your money and any form of lending involves risks to both borrower and lender. There is no grounds for any action on that front though.

1. I shouldn't have been offered so much credit

You shouldn't have borrowed it and spent it it takes two to tango.

2. they most certainly shouldn't have increased my loan to allow me to fall further into debt, and ultimately incur many, many more charges.

Loans are a cheaper debt than credit card or overdraft. Are you saying that you would have preferred to pay more? Moving expensive debt onto cheaper debt is a good thing. Not bad.

Anyone have any thoughts?

it is all academic really. Banks are allowed to charge and none of your charges have resulted in you being currently in financial hardship. Ironically, had you tried many years ago, you would probably have got a part refund. However, today, you dont meet financial hardship criteria.