Claiming on a Business account? Lets join forces?

[thereshope!]

Hi all
Thanks for the link Photoman

http://www.consumeractiongroup.co.uk...hlight=midland

The above link is to the thread that i posted about my in-laws business that failed in 1990 due to massive bank charges amongst other things and if anyone could offer any advice it would be really appreciated.


The business was run as a partnership throughout the 1980's culminating in Bankruptcy in 1990.

My in-laws dont have any paperwork whatsoever, everything went to the OR.

I would imagine that everything is destroyed after a set time , if anyone knows of the timescale involved, could you please let me know ?

With regard to paying any money out to former creditors,wouldnt my in-laws be free of restrictions after 17 years ?

All assets at the time were taken ,including business property, family home and all vechiles,stock etc ?

I would be a little surprised if they would still have to pay out to former creditors after so long?

TBH , I dont have a lot of faith with regard to reclaiming on this for my in-laws, but if I could this would be a massive claim. Maybe the biggest ever.

They have nothing left to lose as you said Photoman.

Got to be worth a try ?

Hope xx

[MARTIN3030]

Business accounts have not been ignored on CAG in fact there are currently plans in place for a definitive section.
It is good to see input like this tho and all credit to Photoman.
As many know the main criteria which differs is that of the particulars of claim in that consumer laws are not relavant and also there are precadents for reference.
Additionally there are variants in charges between banks as descriptions and applications of them differ from one bank to another.
There is also the questions of sole traders partnerships and limited companies,however info on all these points is readily available.
A question that is often raised is the one whereby the banks encourage businesses to take out or offer loans to repay unlawful charges.
There is a case for claiming these back if there is good evidence that can be shown to support it.
Claims have already successfully been made.

[photoman]

Thanks for popping by Martin, your comments and input most welcome.
Just for the record, I hope nobody has thought I have tried to start some sort of "splinter group".
I know as you say, Business accounts are not ignored here, it's just that amongst all the many threads and posts, it's difficult for those looking for info more specific to Business accounts to do so, and to also be unwittingly misled by well intentioned advice on other threads.
Pleased to hear there are plans for a Business section. This will not only help those looking for such info to find it much easier, but will also prevent costly mistakes.

[bobandsuzzi]

hi
i found Martins post really encouraging, i have had to struggle through, finding bits of info from all over the site, after many hours of searching
it is too late for me, as i am past AQ stage, but it will be invaluable to future business claimants, and they should show there appreciation for the new thread when it is available, by making a donation after their refund arrives

Bobandsue

[taylorbmw]

i have been trying to get coppies of statements i held with the bank of scotland from 1996 til 1999 in which they charged me a pretty penny in these charges, i unfortunatelly have lost the bank account stuff while moving house ( possibly thrown out) have tried asking the bank for copies but they claim to require the account number and sort code first to find the account, but i cannot remember these. even going to the bank which held the account proved fruitless, the claimed to not be able to find the account even with the account name, address, and postcode, sounds like they know what im upto as i have already claimed for my personnel account. can anyone help as to how i can get copies of my statements to my buisiness account, please please.

[groovycaz]

Im claiming back charges for two business bank accounts, 1 with the RBS who are now ignoring my letters and reduced my £2000 overdraft to nil, which I paid £100 for the period of 12 months and is not due for review until april this year, this happened after I sent them A REQUEST FOR REPAYMENT OF CHARGES, and they have since returned my DD and charged me £35, Im finding them very petty and they are telling me fibs on the phone, the ammount im claiming from them is around £1500. the other claim is a bit more complicated, Its with the unco-operative and goes back 10 years, ive got all my statements and 10 years ago they charged £30 for a returned item and £15 for the letter to tell me they were returning the item so £45 back then, They have written in reply to my repayment request and told me they are not refunding any charges as they not obliged to consider any refunds longer than 6 years ago in line with the recent changes in consumer regulations and business accounts are not included in these changes, I wrote back to them quoting s32 (b) of the act aand am yet to recieve a reply, I wrote a LBA 3 weeks ago and they ignored that aswell, so im just in the process of doing my spread sheet ( the interest is scary) and that is from the 26-11-96 until 03-08-02 toalal before interest £1907, I think they will fight me all theway on this one but im about ready for the fight

[tiaposy]

I was 'advised' to take a £5000 loan over 5 years to clear our business overdraft that had got out of hand.
Even though our turn-over is approx £10k per month, we still only have an overdraft of £2.5k, and then the bank manager wanders why we have a problem with cashflow!
Incidently, our business is a LTD company, will that make any difference to our claim?
I am definately going to claim on the joint account. From what I have read, Lloyds don't seem to be closing down accounts - Yet - fingers crossed!

[groovycaz]

I knew the BOS were going to be difficult so I opened another business account just in case and my instintcs were right, so by moving to another bank im saving aswell as I have a 18 month free banking period and a £2000 overdraft that didnt cost me a £100 per year, so the BOS can stuff their account,

[photoman]

Originally Posted by taylorbmw

i have been trying to get coppies of statements i held with the bank of scotland from 1996 til 1999 in which they charged me a pretty penny in these charges, i unfortunatelly have lost the bank account stuff while moving house ( possibly thrown out) have tried asking the bank for copies but they claim to require the account number and sort code first to find the account, but i cannot remember these. even going to the bank which held the account proved fruitless, the claimed to not be able to find the account even with the account name, address, and postcode, sounds like they know what im upto as i have already claimed for my personnel account. can anyone help as to how i can get copies of my statements to my buisiness account, please please.

Did you make any Direct debit or standing order payments to any supliers? On their statements it should specify something like "Payment from account 1234567"? You might even fid that someone like your phone (land or mobile) bills specified something like, "payment will be taken from account 1234567 on x date" Check bills, or Ring them, and see if they could find out? Maybe even had some insurance premiums going out, or a loan, and they would have details of your account number on any agreements? Otherwise, if you provide positive ID to your banks head office they would be obliged to provide you the account details I'm sure? As for the sort code, that would be easy to get just by ringing either your branch or head office.

[photoman]

....even a customer that paid you by BACS or transfer at some point, and have a record of the destination account on their own statements ? Try ringing around some old suppliers and customers to see?

[sn00psmum]

Originally Posted by photoman

....even a customer that paid you by BACS or transfer at some point, and have a record of the destination account on their own statements ? Try ringing around some old suppliers and customers to see?

Photoman, you beat me to it!

Or, what about an accountant?

I have a business claim with RBS for my hubby's business current a/c. I don't have a thread going for it yet as so far it's been pretty uneventful, also maybe quite close to conclusion depending on what advice I get here!

Timeline is: Prelim sent on 22nd Jan, signed for on 23rd outlining charges, debit interest and CCI (I hope I got the correct rate as I could only find one unauth rate on RBS w/s!) LBA sent on 8th Feb, signed for on 9th. No response to either letter until 26th Feb (day I WAS going to file, ) received a full offer of charges & debit interest only.

Any thoughts on whether I should accept? I asked for CCI from the outset, but this is a FULL refund of chgs & debit int. Hubby wants to proceeed to court for CCI as recompense for denial of benefit, and in principle, I have to agree with him, but it's probably going to be me that has to convince a Sherriff of this (see next question) are there any specific legals pertaining to business accounts and CCI that differ from regular accounts?

My next question- I am a signatory on this a/c and although I have so far dealt with all the letter writing, it's only my hubby's signature that appears on the letters as I thought they would get funny if I signed them, after all, it's not my a/c. Now though, he's working away and if it were to end up in court it would be a hassle for him to get back (not impossible though). Also, he has not read up on this at all, sort of pretends to be listening to me reading various posts out to him but is really watching Top Gear! Can I do a letter of authority from him in my favour so that I can deal with it myself from now on, even at this late stage?

This is going on the same timeline as our joint Royalties Gold a/c (biggy)and has been somewhat neglected in favour of the larger and therefore more complicated claim.

Any advice on this will be gratefully received
SM

[gallygaskins]

Just signing up to thread, which incidentally makes great reading. I am following up on my personal account at the moment sending out LBA today and we'll go from there. My next project will be the business accounts. I have a similar situation to tiaposy where that bank asked us to set up a loan account to pay off the overdraft. I take it that if successful getting back the charges of one, then maybe there would be a case to answer with the bank advising us to take out this loan???

Could anyone advise?

best regards

Kim

[photoman]

Originally Posted by gallygaskins

Just signing up to thread, which incidentally makes great reading. I am following up on my personal account at the moment sending out LBA today and we'll go from there. My next project will be the business accounts. I have a similar situation to tiaposy where that bank asked us to set up a loan account to pay off the overdraft. I take it that if successful getting back the charges of one, then maybe there would be a case to answer with the bank advising us to take out this loan???

Could anyone advise?

best regards

Kim

I agree with you. Provided it can be seen that at the time you took out the loan, that charges you had incurred on that account (and I would say that is regardless of any limitations or time) were equivalent or pretty near the amount of the loan. But remember, it would only be the interest on the loan in that scenario, as you would have already claimed the charges, if you understand what I mean. Also you would be able to claim interest on the interest on the loan you had paid.
I intend to look into this myself also, once my initial cliam is settled.

[AJG]

Great I have tried to start a thread on this twice before to no avail

I have just started proceedings against BOS for £ 9,300 , on an account closed 16 months ago, we were lucky as they tried to put the boot in and almost lost everything. Lucky to move Banks and survived.

It is a Limited comapny account and could really do with advice on the following:

1. Amount of claim being over £ 5k
2. Proceedure
3. Scottish Banks - as I understand it the law is very different but BoS is governed by scottish law

Thanks

[groovycaz]

If you look for the full details of case against RBS including pleadings posted by justwon you will find loads of information there, and educate yourself with the mistakes made regarding contracted interest which cost the claiment £2000. The laws for small claims are different in scotland as they are only up to £750 i think, however not sure about yours as its a lot more than that amount, even if you claimed in england its only up to £5000 in the small claims court, you would have to file through the fast track or the multi track depending on the amount of your claim, also it depends where you want your case to be heard, if you live in englane but bank with one of the scottish banks, its up to you as the claiment where you want your claim to be heard, the BOS and the RBS have head offices in england so im starting my claim against the BOS in my local county court and will object if they attempt to move my case to scotland. You will find loads of information if you look at the BOS and the RBS forum....hope this helps .GC