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Overdraft Protection - can i claim it back?


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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.

 

Any help greatfully appreciated,

 

thanks,

 

A Ward

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If it was mandatory then yes, I would imagine you could claim it back :)

 

I am sure one of the PPI guys will be around to advise later on today :)

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yes ofcourse you can and PASSED 6yrs too.

 

have you all the statements?

 

if so treat it as a running CI account

 

use the fos ci running sheet.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi Dylan and welcome to CAG

 

Have the payments varied at all.

 

As already said, this sound like PPI and should be reclaimed with Compound Interest.

 

:-)

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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...

 

Thanks,

 

D Ward

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Moving this to the PPI forum.

 

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/forum/content.php?557-Letter-for-an-application-for-consideration-for-hardship

 

If this stops them adding 82p every day, that'll be a lot saved in a year.

 

:-)

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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...

 

Thanks,

 

D Ward

 

that might be a bit low?

 

use

 

CISheet v101.xls

 

 

enter the OD int rate in cell D15

 

then enter EVERY £13.60 with the date it was charged in rows 20 onwards

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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