A+L settled in full!!

[stimeforchange]

Need to get rid of A&L headache FAST! Have current account which was downgraded from premier when I stopped funding with wages.After months of underfunding fees and unauthorised O/D fees (resulting from charges), I have made an agreement to pay back O/D in 6 monthly payments. I was advised that if repayments were made in this time (they have),nothing negative would be on credit file.One month in,I have a code 2, and a code 3 (auto generated apparently),which is in the way of mortgage application.Do I clear the debt now?(they offer no guarantee they'll remove the codes if I pay it off now) or is there another way? I also intend to reclaim charges on this and visa account, will this be more difficult when account is closed? Grateful for any advice, sorry so long...

[comanche]

What is an underfunding fee??

Essentially it makes little difference whether an account is open or closed in terms of the legal position or whether you are likely to get a sensible settlement offer.

Is this the only adverse information on your credit file?

[stimeforchange]

Underfunding fee (#5)is because premier account requires mimimum monthly funding-which wasn't met when wages stopped.(That's why I was advised to change acc.(along with O/D) to basic current acc. I was putting regular amounts in from my other bank(which would often be swallowed up in charges), to try and reduce OD but when I had to stop this, it wasn't long before A&L said I couldn't have overdraft anymore.The O/D amount was 'payable in full', repayments were agreed as I couldn't repay in full. No payments have been late.They are saying they will only take 3 code off if there is proof in a phonecall that I was misinformed. (I specifically asked if credit file would suffer-they said not if repaid in 6 months as agreed). The other adverse on my file is late payments to A&L credit card from this account, (failed DD's a result of charges, charges for failed payment, and late charges from credit card dept! So they win 3 times!As well as being solely responsible for my difficulty in getting a decent-rate product..

[stimeforchange]

Hi, Sent a Data Protection Act letter to A&L, and today I received statements for last two and a half years of premier acc.I have totalled charges (£1112.50) but am baffled at how I work out interest on these(is it essential?) I would REALLY appreciate some speedy advice so I can send preliminary request.(assuming of course that this the next step).
Another point while i'm here, if anyone is interested - I stopped putting my wages in the account a year ago, cos I was sick of it being swallowed by charges.After months of being charged underfunding fees (can I claim these?), they said they were closing account, and overdraft had to be paid back(resulting in unauthorised OD charges on top) They finally (after loads of calls) agreed to downgrade acc to basic current acc to avoid underfunding(on a reducing OD).Offering this in the first place would have been more sensible (but less profitable!)
My main gripe,though,is a code 3 was put on my file-I fought (and won) to have it removed but in the mentime a remortgage application was rejected (no proof this was singularly responsible,but only adverse thing there). Six months on,I am having to take out a much less competitive rate, and my redemption fees have increased by hundreds of pounds.Is there any hope? Bit of an epic,thanks for listening!

[martin2006]

you can go back up to 6 years if you banked with them for that long.
theres a template spreadsheet for you to use which you just fill in on your pc and hey presto it works out all the interest for you.
NOTE: When you send off your prelim letter, do not include the interest in your spreadsheet, that comes later if you have to issue a moneyclaim.
They will no doubt fob you off with "it only applies to credit cards and not current accounts" but dont worry, just go to the next step.
All the letters you need are available in the templates section.
Have a good read through other threads in A & L and familiarise yourself with what happens and what to do.

Oh and good luck though you wont need it!!!!!

[stimeforchange]

Thanks for reply,just what I needed, Ta.

[stimeforchange]

Hi,I've served the MCOL to A+L 3.10.06.When is the best time to make complaint to OFT(credit act 1974) that I mentioned in my LBA? And how do I do this? Apologies again if this thread should be somewhere else-not so good at navigating the site,but completely dependant on it! Hope I can help others in the future.

[younganfree]

Hi, dude, post this query again on your original thread, then we'll see the whole pic and know where you're coming from!

If you don't know how to find it try the following:-

click on your username at the top of your post (the one I'm replying to)

a little box will appear - click on 'View public profile'

on the profile you will find a link for all threads that you've started, ignoring this thread (obviously), click on the starter for your original thread.

Hope that makes some sense!

[stimeforchange]

My MCOL has been sent to A+L, but I have yet to make the complaint to OFT. When and how do I do this? As you can see, haven't managed to merge my posts,despite helpful reply, sorry.

[Aitken Brotherston]

Write to them on line, telling them about whom and what you are complaining.

[carolbl]

I received this from the OFT today



to complete our complaint form which can be accessed from our website (www.Information Commissioners Office.gov.uk). We have designed this form to help you provide us with the specific information we need.

You can return the completed form by replying to this email and adding it as an attachment.

When we receive the form your complaint will be assigned to one of our casework teams before it is allocated to a case officer who will respond accordingly in line with our current service standards, .

[caro]

Threads merged. Only mods and admin can do this.

[stimeforchange]

Acknowledgement received, full settlement of £1,464 received a few days later - SO thankful to the site for giving us strength against the big boys!!!

[caro]

Congratulations. Don't forget to complete the survey.