Bank Account charges - Horrified - way ahead

kennyruss72

I have drafted 3 letters to the Halifax stating my case for refund of charges.


It's a starting place for a debate with them.


With regard to the mobile phones, yeh I could possibly reduce the £60 a month over time when the contracts run out..


will update the thread with any responses I get.


thanks


kennyruss72

System

Be aware that they may pull the overdrafts once you write to them.

I would reiterate my earlier recommendation that you open up current /basic accounts elsewhere and be prepared to move any credits into the new accounts, if needed.

Kernel_Sanders

kennyruss72 wrote: »

xylophone- we are pretty much down to the bones as it is. I use quidco and topcashback etc any time we change phone.

This is where I lost all sympathy. So, you've had overdrafts exceeding £5000 for over five years yet during this period you've been taking out/renewing phone contracts and getting new phones regularly. I think we are just scratching the surface of your extravagance here, and I suspect you regard as essentials items other people think of as luxuries. What else have you been spoiling your kids with? You need to grow up and start taking some financial responsibility.

kennyruss72 wrote: »

Moderator, I am happy to move this thread to another part of the forum if more suitable..

The advice you were given was to go to the debtfreewannaebe board and learn about how people cope with money in the real world, not the fantasy 'one-up-on-the-Joneses' world that you appear to inhabit. It seems you just expect people on that sub-board to hand out solutions when in reality you need to spend at least several hours reading and educating yourself.

kennyruss72

Kernel Sanders,

Yes I do need to educate myself and take a fresh look at my finances, but to say I live in a fantasy world based on mobile phone contracts without knowing the full extent of my situation is not a balanced view.

My original post was looking at options for the charges I had accrued over a period of years and if there was any path open to me to address these.

I now have a 3 letters all ready to go off, using templates found here - I thank the forum for that.

My next move is to look at car insurances etc to see what I can do to strip back each month.

Regarding the phones, 2 are Sim only contract 2 are contract (both up for renewal next year) - We have already decided that the phones are perfectly good and do not need upgrading. This is no something I can address right now, but will look at next year.

Thanks for your comments..

Edit - car insurance up for renewal in 2 weeks, just saved £8 a month by haggling..

grumbler

MSE guide says:

Bank charges reclaiming didn't end after the court case in 2009, people still regularly get some of their excess charges back. They can add up to £1,000s, joining the £1bn already repaid.
If you're in financial hardship, you could reclaim the up-to-£15 a pop charges for breaching your overdraft.

A family wasting £60 p.m. on mobiles doesn't look like being in 'financial hardship'.

>> Reclaim Bank Charges

BTW, I've never been in financial hardship, but my car insurance never cost me more than ~£10p.m. in the last 10 years.

meer53

Now you have alerted them to the fact that you are in financial difficulty, you may find, as Heng Leng has already mentioned that they will look at removing the overdrafts. Hope you have another account open.

I don't think you have much chance of getting any charges back but if Halifax remove the overdrafts they might agree a repayment plan with you. Have you thought about contacting Stepchange for help ?

Goldiegirl

Well, the fees you have been charged are high..... but you've been using an expensive service for years, so it's only to be expected that the fees will mount up. They tell you what the fees are, so the Halifax haven't done anything wrong - they didn't force you to use the overdraft.


As other people have said, it's probably unwise to go down the 'financial hardship' route. You are putting you head above the parapet, so you'll be open to scrutiny.... and they may want to reduce or remove your overdraft limit due to your 'financial hardship'

kennyruss72 wrote: »

My next move is to look at car insurances etc to see what I can do to strip back each month.

Car insurances? That implies more than one car...... maybe that's something that needs to be looked at. Can a house in 'financial hardship' afford to run more than one car?


Even if Halifax decide to refund some of the fees (I feel unlikely), you need to man up and take control of your life.


Get yourself over to the debt free wannabe area of the board, do a Statement of Affairs (I'm sure some kind soul will give you the link for the template). The good folk on DFW will give you lots of suggestions on where cuts can be made. Also read some of the DFW diaries for inspiration and ideas, and also look at the Old Style area of the board for tips on thrifty living.


I detect the glimmering light of a Light Bulb Moment - don't let the light die - NOW is the time to get a grip and get out of debt.


Nobody said it'll be quick or easy - but if you research this forum, people have been in worse situations than you and have turned their life around.

Goldiegirl

kennyruss72 wrote: »

Edit - car insurance up for renewal in 2 weeks, just saved £8 a month by haggling..

You could probably save a lot more by getting quotes from new insurers

kennyruss72

Thanks Goldie,


One car only, typo on my part, 06 plate over 100k on clock - just keep it ticking over..


Got my renewal down to same price as quoted on quidco quote car insurance quote - which was funningly enough the same company!


thanks for the advice Goldie..

grumbler

kennyruss72 wrote: »

Got my renewal down to same price as quoted on quidco quote car insurance quote - which was funningly enough the same company!

I don't hesitate to buy a new insurance from the same company and grab the cashback - if the cost after cashback is the lowest. Usually this works.

I never tried 'quidco quote' (is it the price after the cashback?), but I believe it's better to go via normal quidco cashback and buy it directly from the insurer.