Bank Loan / Bank Charges? Quick Advice Needed!

[Teach57]

Hi Everyone,

I am currently claiming bank charges from Barclays but am afraid that they might close my account or demand money back. I am thinking if getting a bank loan for debt consolidation. If I get a loan from Barclays can they demand the money back for my overdraft AND for the bank loan?

Any advice would be very greatful!

[dar£n]

Originally Posted by Teach57

can they demand the money back for my overdraft AND for the bank loan?

Yes they can, but not because you have claimed against them for unfair charges, in your agreements for the O/D or loan it says something like Barclays can request the money to be repaid,
but this is usually following bad payments etc from your part.
However it is NOT unheard of Barclays trying to close accounts after the claim, whether they have or not I cant confirm, sorry,
People do advise opening a parachute account, but doesnt help you with the loan issue

[Teach57]

Thanks Dar3n I have opened a parachute account and thanks for your advice although it is really about the loan I need advise on now. I suppose that the banks can use the 'breakdown of trust' line with you if I claim back charges and lets face it, £2400 worth of charges without interest is a large sum and runs a higher risk of having the account closed!

[dar£n]

lets face it, £2400 worth of charges without interest is a large sum

The amount is a lot to you and me, this is why we want it back.
This amount to Barclays is like 20p its a piddling amount to them,

theyre the ones who 'borrowed' the money off YOU in the first place, dont forget they are repaying these charges because it is deemed they are unlawful and unjustified. if they had any grounds to fight they would, I think they will accept it and carry on business.
besides, if they dont give you the loan they wont be able to slap you with more charges LOL

Obviously no-one can guarantee they dont hold a grudge, I just hope not

[Teach57]

theyre the ones who 'borrowed' the money off YOU in the first place, dont forget they are repaying these charges because it is deemed they are unlawful and unjustified. if they had any grounds to fight they would, I think they will accept it and carry on business.
besides, if they dont give you the loan they wont be able to slap you with more charges LOL



Yeah you're right! Thanks for the advice mate!

[pjdavies2000]

Also - why not apply for a loan from another bank - Barclays may have a lot of wallop, but if you apply for a loan from the bank who you opened your parachute account from then there shouldn't be an issue - unless you are very badly down in the old credit rating dept - but then even someone like Egg do loans for almost anyone!

HTH

Peter

[gizmo111]

Will claiming back all your charges reduce your debt significantly and reduce your monthly outgoings?
You'd be much better claiming your charges and paying off your debts one by one rather than paying more interest.
Can you put some of your debt onto 0% cards/overdrafts?
AFAIK the loan os a seperated agreement and as long as you remain up to date with payments they cannot recall it.