Bank Default from unfair charges

SJ19471

Hi There,

This is my first post, Hope I'm in the right section.

Would really appreciate if some of you are able to give me some advice please.

I currently have a default registered on my credit file from Santander for £370. This defaulted on Oct 2011. This is from going into an unauthorised overdraft by £2. Back then I was young and completely ignored it. But now I'm paying the ultimate price as I cannot get credit/mortgage etc. Also I'm now being chased by a third party as this still remains unpaid.

With these charges being disproportionate, do I have a case to either get these charges looked at? removed? or reduced?

Thank you for your time guys

pmduk

You've made the rod for your own back by not repaying the £2 immediately. I assume you've ignored the statements and letters from the bank trying to sort out this matter. Have you looked at how the £370 has been made up?

SJ19471

I agree. I was 18 at the time and just didn't take interest. From what I can remember it was just charge after charge for being in the unarranged overdraft.

pmduk

Have you talked to Santander? You might be best making arrangements to repay the debt as a default will haunt you for years.
I suspect that you won't get a lot of sympathy on this board.

SJ19471

I'm not after sympathy just advice really. I've heard of numerous people reclaiming charges just checking on here before I pay. The default will be removed in a couple of years paid or unpaid anyway.

SJ19471

Ill contact Santander now to explore my options

pmduk

It's a lot easier to get charges removed if you deal with it in a timely manner as they're most often done under goodwill. By ignoring them to the point of default you're not likely to attract that goodwill.

SJ19471

Again I agree, silly and costly mistake by myself. One last question. Because these charges were made before the supreme court ruling on unfair bank charges. Could I be entitled to get the amount reduced? or would that not matter? Thanks for your time 'pmduk' appreciate your input

PaulW922

SJ19471 wrote: »

Again I agree, silly and costly mistake by myself. One last question. Because these charges were made before the supreme court ruling on unfair bank charges. Could I be entitled to get the amount reduced? or would that not matter? Thanks for your time 'pmduk' appreciate your input

I am afraid not - the Supreme Court ruling merely confirmed what the banks were saying. You may however have grounds to say that the charges are massively disproportionate but first as pmduk says, you need to see how they are made up. If it is £370 of charges purely as a result of a £2 overdraft you may be able to make some progress - but there is no guarantee.

pmduk

One angle you might try, is that currently an overdraft of £2 would not attract any charges, (I believe) and therefore would not have led to this situation. However you are entirely reliant on their goodwill and perhaps a penitent approach might be best.