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.
wondering if anyone knew if a £25.00 monthly OD charge is a legit charge? They did'nt charge any interest for those months, but then it stopps and they start chargeing interest for my £600 OD(which has never changed). They have charged me a £5 underfunding fee (coz i never put money in the account unless I needed to) can I claim that back? Also if they do close my account, which it looks like they may do, am I able to pay my OD back slowly and if so will the interest rate stay the same???
wondering if anyone knew if a £25.00 monthly OD charge is a legit charge? They did'nt charge any interest for those months, but then it stopps and they start chargeing interest for my £600 OD(which has never changed). They have charged me a £5 underfunding fee (coz i never put money in the account unless I needed to) can I claim that back? Also if they do close my account, which it looks like they may do, am I able to pay my OD back slowly and if so will the interest rate stay the same???
Hi Pettal,
Not too sure about the £25.00 but my guess is if it says that its a charge on your statements then surely thats what it is. As for the underfunding fee then I have never heard of that before - what sort of account is it, believe me I don't think its possible for any body to have been putting less into their account than I did and I never had anything like that on my statements. With regards to the closing of accounts they did close mine and reading around I think in most cases if not all that is the action A & L take so you must open a parachute account if you do not already have one. If there is no one to answer your questions regarding the charges then I would be inclined to speak to someone at the bank asking them to explain to me wether they are infact charges ( they do not need to know what you are doing)? Sorry I could not be of more help but my best wishes go to you and good luck.;-)
wondering if anyone knew if a £25.00 monthly OD charge is a legit charge? They did'nt charge any interest for those months, but then it stopps and they start chargeing interest for my £600 OD(which has never changed). They have charged me a £5 underfunding fee (coz i never put money in the account unless I needed to) can I claim that back? Also if they do close my account, which it looks like they may do, am I able to pay my OD back slowly and if so will the interest rate stay the same???
will be grateful for any comments
thankyou
luv ya all and good luck!!!!!!!!
Hi Pettal,
Check your agreement from when you opened your account to see what your agreed overdraft limit was (If you had one). I've never known anyone pay £25 for an overdraft unless it's a penalty one like those that we are all fighting against here. The interest doesn't show up monthly on some A&L accounts, they ad it quarterly so you wouldn't notice it all the time.
With regard to the underfunding situation I can only guess that you have one of their high interest accounts. The problem with these is when you open it there is a section where by signing you agree to put in at least £1,000 per month. My take on the situation is that the £5 isn't legal at common law because that means you're paying them for the privilege of looking after your hard earned cash but I'm no legal eagle. Another way of getting out of this one is dependent on your salary.....when you were sold the account you should have been asked to prove you could pay in at least £1,000. IF you couldn't pay this amount in each month and they still gave you that type of account then you were mis-sold your account and should have been offered a basic account
P.S. Get a parachute account opened as quick as possible because the law of probability says they will shut your account down if you pursue them for the fees
very helpful as usual. I think I will claim for the £25 OD charge, but still unsure about the underfunding fee. I was a bit naughty coz I only opened the account to get the OD coz I was skint at the time and they did state that they would only give it to me if my salary was paid into the account, which was over £1000 per month. After 3 months I transferred my salary back to my main account (HSBC) and only paid money into the A & L account when the interest was going to put me over my OD limit, and still do but they have stopped the underfunding fee!! If they close my account I will offer to repay the OD at £10 per month until it's done. I believe they cannot take me to court or blacklist me as long as I am paying something towards my debt.(is that true??!!)
If you're making them an offer to pay it back it shows you're being reasonable. They may throw a tantrum wanting more money but if you can't afford it DON'T pay it. Overstretch yourself and you'll just end up in more financial strife. If they threaten you with any kind of legal ramifications (highly unlikely but I've seen it) a judge would look favourably on you as you made the initial offer and probably tell them to do one and accept what you've offered
Let us know how you get on
Petal,
I claimed the £25 back (and they paid), IMO it is a penalty charge. They will claim it is for administering an overdrawn account, ie £25 for the computer to say you are overdrawn. They will on occasion repeat the charge every three days until the charge hits a cut off maximum (£50 from memory).
Go for it!
We haven't got the money, so we've got to think!
Ernest Rutherford
A & L
Data Protection Act Letter sent 11/08/06
Data rec'd 14/09/06, Prelim letter sent 16/09/06
LBA sent 22/09/06, MCOL 6QZ68670 issued 2/10/06 - chq for £6,375.34 rec'd 04/11/06.
need advice pleeeeeease
for those months, but then it stopps and they start chargeing interest for my £600 OD(which has never changed). They have charged me a £5 underfunding fee (coz i never put money in the account unless I needed to) can I claim that back? Also if they do close my account, which it looks like they may do, am I able to pay my OD back slowly and if so will the interest rate stay the same???
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Re: need advice pleeeeeease
Originally Posted by pettal
Re: need advice pleeeeeease
If they close my account I will offer to repay the OD at £10 per month until it's done. I believe they cannot take me to court or blacklist me as long as I am paying something towards my debt.(is that true??!!)
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