Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Been trying to setup a payment plan with Barclays, first letter to them was rejected so, although I can't afford it, I sent second letter offering full payment plus a bit of the arrears.
Thursday I got their response - we are closing your account! No mention as to why or any mention of my loan.
Well and truly shafted, business account closed - everyone pays by bacs - doubt if I can get a b/acccount elsewhere because of D/N.
If I pay all the arrears, drop current claims against them then it may be possible to 'save' the account.
It's important that you try and negotiate your way out of this, to avoid being left without an a/c.
If you have a loan a/c with them, they'll want all this back if the closures go through.
You should NOT have to drop any claims you have against them, and you shouldn't offer to do this. Barclays are not known for retaliating with closures just because you have claimed.
If there's any hint that they want the claims dropped in negotiating the continuance of your a/c's, you have grounds for formal complaint, I think to the fos.
Just want to die after opening that letter, Ive had 62 good years.
Feel that they are blackmailing me into paying, they know full well the facts as to why I landed in this situation. To bring the loan up to date I have to miss ALL priority debts, including mortgage. So much for seeking help from the likes of CAB & NDL, their help and advice just aren't accepted by the creditors.
I have an appointment Tuesday afternoon to discuss their letter/loan and my recent reclaim letters.
Even if I succeed in reclaiming I feel they will close the account anyway, I cannot carry on working without a bank account.
Remind them that if they DO close your account they will be counted in with all the other creditors in your bankrupty petition - after all they are supposed to be 'sympathetic' to their customers and as it is a business account they are meant to be 'lending' to small businesses.
What wallys run our 'banking' system now... very short sighted and still money hungry in the wrong environment.
Thanks for your kind words, the loan is a personal one on normal private account but they have atttacked me on my business account, I do not have business debts no overdraft etc.
PS to my last, I have asked for the past six years statements (private joint account) so I can claim hardship - loss of OH employment, they cashed my cheque begining of November and I'm still waiting for the statements. They have fleeced thousands over the years -£1k this year alone.
I have an appointment Tuesday afternoon to discuss their letter/loan and my recent reclaim letters.
Hi BC,
I hope you mean discuss as in "Barclays repay me the unlawful charges and it'll help reduce my debts to them."
And not, "If you leave my a/c's open, I won't continue trying to reclaim these charges."
I had the same type of letters from B's 4-5 years back when they tried to close my business and personal a/c's - it felt like my world had been up-ended. But I managed to get the a/c's left open negotiating with my Business Mgr.
I'm not clear what's going on with you here. Are you behind with the loan a/c and they now want to close your business a/c ?
You should act fast, in any event, and try to set up a parachute a/c, so you are covered whatever B's end up doing.
You got it in one Slick, got a personal loan which fell into arrears coz of OH job loss, firm went into administration - OH didn't get a penny!, I lost about £15k per year also as my firm did subby work there as well, so it's hit us very hard.
Have been trying to set up a payment plan using NDL but Barclays won't entertain it so offered full monthly payment plus a wee bit extra each month off the arrears & the closure letter was their reply.
Don't have business overdraft or business loans, closing the account will cause me to cease trading - unless there is another bank that will accept me (now have DN's because of the position we've been thrust into, up mid 2008 cra record was squeeky clean).
Claiming PPI on the loan and (when they can be bothered to suppy statements) unfair charges on private acc. (based on hardship) & about £500 on business acc., which I know will be stayed at present.
If not, maybe consider getting one as an alternative to a high st bank.
This could then possibly provide you with the means to continue to operate your business, and still receive funds.
You can do an online search for Paypal then open one, and they now offer all kinds of merchant tools, enabling you to receive BACS transfers, give you checking facilities, even provide debit cards etc.
You should then link the account to a new account, or an existing one that is not in dispute, so that you can then transfer money to and forth.
I suggested this to another member, and although he had to jump through a few hoops, he is now all set up, and able to trade once more.
It isn't just restricted to sales upon Ebay either, or even just to online sales, and it can be used as a means for you to accept and make payments by DD, BACS, card etc. ... and it does not even require them to actually have a paypal account of their own..
I don't know what the criteria are for being accepted, and whether or not having a DN or closed business account elsewhere would hinder acceptance.
So no promises, but perhaps worth looking into anyway?
Just to clarify. This is just my own personal suggestion, bourne of a desire to try and help another.
I have no affiliation or interests in Paypal, and I am not set to benefit in any way or form from anyone taking up this suggestion.
If (1) or (2), you should be able to get a Private Bank Account with most banks.
There's nothing to stop you asking for Cheques to be made out in your own name if you are (1) or (2).
If you are a Company then it is harder, because the Company is a Legal Entity in its own right, so you would need a Business Account.
Either way, getting a New Business Account will be hard/impossible with any adverse Credit Data on your files, but a Private Account should not be so hard to get.
I'd forgotten to point that out as your first option.
If your 1 or 2, then yes there is NO legal requirement to operate a business through a business account, you can use any personal current account.
Banks just like to try and convince you that you need to use a business account, because it then enables them to charge for monthly and individual transaction charges, so is a lot more profitable for them.
As long as you operate within the law, keep good operating accounts, and pay your taxes, that is all the law is concerned with.
But shuuuuu, Iam in watching panto now so can't post anymore for now.
Oh no your not!
Oh yes Iam!
Beachy
Beachy,I would not advise that T/A be worded on cheques-the banks will pick up on this and cite that it is not a legitimate payee.
I know this because a few members here in the past have been pulled up for it.
The Banks will cite breach of terms and conditions,that you are using the account for running a business.
The secret is to not let them know.
** Sorry think my post was taken out of context **
Account as it currently stands is my name T/A ******
Shuuuuu was put in lighthearted way as I was in theatre watching panto with the grandchildren.
Yes I did it myself for 2years.
Of course the banks dont agree with it or like it-but its perfectly legal as long as your accounting is bob on to reconcile transactions.
The reason most banks dont like it has traditionally been down to interest which has cost them more for someone using a normal account for business-but with the current rates-its of no benefit.
There are obstacles in that some will not want to pay you a cheque in a name other than your business name,this is because they cannot reconcile your invoices.
But again there are ways around it.I told my customers that I was in transition of changing banks,and therefore needed the cheque payable in my name.As a token gesture I gave them a small discount for their co operation.
I am aware of the constraints that these problems bring,in one instance being short of cash flow I took a couple of cheques to my local Cash Convertors.
I paid 20 quid to have 900 quid in my hands in 10 minutes to buy stock.Well worth it to keep a sale where losing those you make nothing.
I really believe if I had known of CAG and understood my rights back in 2001,I would still have my shop.
So keep going I say-theres life after a business account !!
Just get a Private Account in that case with another bank, and you are back in Business 100%.
I'd also get an ebay Account and Payal too, just to give yourself more Payment options.
But as a Sole Trader, you do not need a Business Bank Account for accepting Payments via Cheque and BACS etc.
Cheers,
BRW
I think you will find BRW that the criteria and credit checks etc for opening a sole trader account are just as exhaustive.In fact all trading/business related accounts are the same.
The exeption being a partnership where even if one partner has a bad credit record-if the other has very good one then theres more chances.
Much depends on your core business.If you have established accounts then they will expect to pay top the name on the invoice.
For punters or customers who you dont offer accounts to-there should be no problems.
Its those customers who are VAT registered and so need to reconcile that can be a problem.For example A school will not buy anything or ask of your services unless you can provide them with an invoice.
If your shop sign says CAG Plumbing and you give them a receipt from J.Smith,then theres questions asked if you get my drift.
Shafted by Barclays
, first letter to them was rejected so, although I can't afford it, I sent second letter offering full payment plus a bit of the arrears.
Reply With Quote
Originally Posted by beachcomber60
