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Cagger since : Apr 2011
Posts : 2 (0.00 post per day)
Overdraft Protection - can i claim it back?
Hi,
can anyone tell me if I would be able to claim back overdraft protection payments for 6 years?
I've been paying 13.60 a month during that time and the overdraft is 1700,
this protection was set up when I increased my overdraft due to financial difficulties.
The whole process (application) was done online and basically I was not allowed to increase my overdraft without taking this protection,
there was no option to opt out.
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Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Cagger since : Apr 2011
Posts : 2 (0.00 post per day)
Re: Overdraft Protection - can i claim it back?
Hi, the payments have always been £13.60 since the overdraft was arranged (approx 5-6 years ago).
On a separate note we are trying to manage our debts through the CCCS and have agreed with almost everyone else to pay back a reduced amount each month until its clear, but Barclays have closed the account and sent us a nasty letter demanding the Overdraft be paid back in full or it will accrue interest at 82p a day until it is! I'm sure this is an idle threat, and hope its just a standard letter but obviously we're not particularly keen on being taken to court! Seems odd that their response to a letter about struggling with debts is to demand a full repayment, clearly we do not have this money... Going off the PPI Calculator we are owed £1100 of the overdraft so they can start by knocking that off...
Use the letters and examples in this forum to set about reclaiming these charges.
I wouldn't assume Barclay's demand for full repayment is an idle one. If you're having Financial Difficulty, see here and write to the bank asking that they stop adding any interest or charges - http://www.consumeractiongroup.co.uk...n-for-hardship
If this stops them adding 82p every day, that'll be a lot saved in a year.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Cagger since : Dec 2006
Posts : 91,517 (25.65 post per day)
Re: Overdraft Protection - can i claim it back?
Originally Posted by dylanward
Hi, the payments have always been £13.60 since the overdraft was arranged (approx 5-6 years ago).
On a separate note we are trying to manage our debts through the CCCS and have agreed with almost everyone else to pay back a reduced amount each month until its clear, but Barclays have closed the account and sent us a nasty letter demanding the Overdraft be paid back in full or it will accrue interest at 82p a day until it is! I'm sure this is an idle threat, and hope its just a standard letter but obviously we're not particularly keen on being taken to court! Seems odd that their response to a letter about struggling with debts is to demand a full repayment, clearly we do not have this money... Going off the PPI Calculator we are owed £1100 of the overdraft so they can start by knocking that off...
then enter EVERY £13.60 with the date it was charged in rows 20 onwards
dx
PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS
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If you want advice on your thread please PM me a link to your thread
my views are my own...seek legal advice if necessary
NEVER EVER - act on a private message asking you to visit another website, make contact 'off list' or by phone alert the siteteam
DX RIP Martin3030
Overdraft Protection - can i claim it back?
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Originally Posted by dylanward
