If you take action against them to reclaim your money? I while being a student must have lost £40-£80 per month in fees and am considering claiming them back. The only thing is that I have a £1k overdraft which I am in no position to pay back - unless I get the money I am due from them.

What's the odds on them countering my claim by closing the account and asking me to repay my o/d within a certain period of time?

In addition to this question, does taking action against them give me any kind of black mark against my name?

They are no odds. Some do, some don't, even within the same bank. It's a totally random process.

Look at it this way: If you start contesting, as long as the amount is in dispute, they shouldn't be able to close you down. If they demand the money back, treat them as you would any other creditor, and say you'll repay them xxx (affordable amount) per month until debt is paid off. Insist they freeze interest while this is ongoing. Don't forget they have a duty to try not to take you to court, so if you make an offer of repayment, you are fulfilling your obligation of reasonableness.

Of course, once you get your charges back, you can then pay them off.

Alternatively, if the charges are more or less equal to the o/d, you could try to negotiate one against the other, they get rid of the o/d, you go elsewhere.

Open a parachute account now, before they mess your credit rating, though, just in case they do that.

They are no odds. Some do, some don't, even within the same bank. It's a totally random process.

 

Look at it this way: If you start contesting, as long as the amount is in dispute, they shouldn't be able to close you down. If they demand the money back, treat them as you would any other creditor, and say you'll repay them xxx (affordable amount) per month until debt is paid off. Insist they freeze interest while this is ongoing. Don't forget they have a duty to try not to take you to court, so if you make an offer of repayment, you are fulfilling your obligation of reasonableness.

Of course, once you get your charges back, you can then pay them off.

 

Alternatively, if the charges are more or less equal to the o/d, you could try to negotiate one against the other, they get rid of the o/d, you go elsewhere.

 

Open a parachute account now, before they mess your credit rating, though, just in case they do that.

thanks for this mate. Do you know though if they can put a black mark against my name for contesting with them?

Sorry Hijacked, Made My Own Post

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