RBOS Overdraft and loan charges etc

andygoudie

A friend has got herself into a bit of a mess, financially and has now come to me looking to help her. Amongst other things, she has an overdraft and bank loan with RBOS. She is currently not working and is claiming Universal Credit so really has no way to service any loans or over drafts. She is trying her best to keep on top of things but her monthly income is £450 yet her rent is £475 so as you can imagine it is not going well! I have started trying to sort things out a bit but would really appreciate some advice from the wonderful people on here! She has a variety of charges on her current account as follows:-

Unpaid Transaction fees at £8 each
unarranged OD usage at £8 each
arranged OD usage at £6 each
The total over the last 3 years is £376 - not a fortune but she really could do with this at the moment.

Her OD limit is £600 and her Bank loan is now £1400.

Anyone have any ideas about claiming back the charges and also how to stop more charges/interest?

TIA

eskbanker

https://www.moneysavingexpert.com/reclaim/bank-charges/ explains how the bank charges reclaiming bandwagon largely stopped, but highlights that those currently in financial hardship may be able to make a claim stick.

She ought to contact RBS to advise them that she's in financial difficulty as a first step, to see what they're prepared to do for her, although she'll need to recognise that any such adjusted repayment arrangements are likely to wreck her credit status if that's important to her.

Additionally, it'll probably be worth posting over on the debt-free wannabe board, and in particular sharing a statement of affairs illustrating income and expenditure. Debt charities are also represented and linked on that board, for ideas about how to manage a situation like this....

Perhaps also worth posting on the benefits board to see if she may be eligible for additional state assistance?

[Deleted User]

Why should the charges be claimed back and the interest frozen?

The charges are in the T's and C's that were agreed to as are the unpaid transaction fees?

andygoudie

!!! wrote: »

Why should the charges be claimed back and the interest frozen?

The charges are in the T's and C's that were agreed to as are the unpaid transaction fees?

So are you saying that whatever is stated in the T's and C's is okay? That seems a little short sighted. I didn't say they should be frozen but when someone gets into a situation that is outwith their control I wondered if there was any suggestions.

If you have nothing helpful to post then why post at all?

[Deleted User]

andygoudie wrote: »

So are you saying that whatever is stated in the T's and C's is okay? That seems a little short sighted. I didn't say they should be frozen but when someone gets into a situation that is outwith their control I wondered if there was any suggestions.

If you have nothing helpful to post then why post at all?

They were agreed to when signed up.

That's like signing up for other things then saying "no I don't like that anymore, change it for me now".

Sorry - that's the way things work.

andygoudie

!!! wrote: »

They were agreed to when signed up.

That's like signing up for other things then saying "no I don't like that anymore, change it for me now".

Sorry - that's the way things work.

Actually that is simply not true. If you look back you will see that over a billion pounds was refunded to people who had been charged things that were in the t's and c's. Contracts have been signed and subsequently found to be unfair in court.

As I already said if you have nothing helpful to add then don't bother, I won't be responding to you again.

Willing2Learn

@andygoudie - Have a read of the MSE article - Reclaim Bank Charges

Both the standard banking regulations and the Lending Code suggest that banks must treat you fairly and be considerate if you are in financial difficulty.


I agree with eskbanker that you have posted on the wrong board. You really need to get your friend to post on the main DFW board (with their SOA)

eskbanker

Willing2Learn wrote: »

I agree with eskbanker that you have posted on the wrong board.

I didn't actually say that - I pointed OP in the direction of other boards, alongside other guidance, but wasn't accusing him of doing anything wrong as such!

[Deleted User]

andygoudie wrote: »

Actually that is simply not true. If you look back you will see that over a billion pounds was refunded to people who had been charged things that were in the t's and c's. Contracts have been signed and subsequently found to be unfair in court.

As I already said if you have nothing helpful to add then don't bother, I won't be responding to you again.

Right-o then.

Oh and public forum