Hello, confusion re debit interest?

[barbara peters]

Hello, i'm a new user of website and have just received letter back from Co-op bank with schedule of charges etc. Can I claim back debit interest and if so, how much of it and how do I work it out??

[Bolton1]

Hi Barbara. To be honest it is virtually impossible to claim back the debit interest as it is to hard to work out which part of it apllies to the charges. My claim was for £3,700 and the debit interest in total only came to £100 without working out what % of that was for the interest on the charges. I wouldn't bother with the interest just go for the big stuff!! If you are unsure what to claim, have a look at my threads or give me a 'shout'.

[barbara peters]

Thanks very much for that, it did look too confusing!! I'm doing this on behalf of my little sister as the Co-operative Bank are abusing her something wicked.

[sallysas]

I successfully claimed debit interest back from the Halifax on my currant account. If it is showing at the end of the month this is the interest your sister is being charged for going over the limit. I took the line with Halifax that they had worked it out for me (bless their little cotton socks) and I added it on to my claim in a 3rd column on spreadsheet.

[barbara peters]

Thanks very much, the Co-op have worked it all out in a separate column, I've already sent the letter off asking for the amount now, is it too late? Also, on a different subject, I read an article in the paper saying that she needs to set up another bank account in case the Co-op close hers, can they do that when she's got a large overdraft and no way of paying it back?

[sallysas]

You could send off an amended lba or just leave it till you file your N1. This might sound silly but will the courts let you file for her? I mention this as companies that will get money back for people but only claiming 25% of recovered total for themselves (or more) cannot legally represent another party in court. Might you be in the same boat? If you are doing it for her but if letters have her name and address on them then I am again talking a load of old rubbish for which I apologise.

Closing accounts could definately be called retaliatory action but she might want to open a parachute account just in case. She could then arrange for the overdraft to be paid off when it suits her instead of the bank having first call on her income. Offhand I can't remember the last time this happened.

[princess roxy]

hi really confused over list of charges from co-op bank ,comes in 3 columns,commission, debit interest and fees, which can i claim back, information on these charges is non existant, can anyone help please

[sallysas]

The beginnings of a charges guide and historic charges

which is here on this forum dating back to November will give you the information.