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Ok I just want to make sure i understand this properly.
I currently have a Royalties Gold and a business current account with RBS. Each has a mega overdraft and I have incurred lots of charges over the years.As I understand it I can claim back management time and referral charges plus interest to a max of £5000 in each claim for upto 6 years. I need the overdraft and doubt whether anyone will give me accounts with such large overdrafts. The charges amount to about £5000 on a quick add up. How likely is the RBS to demand the repayment of the overdrafts if I claim? Frankly I can't pay them so if I go ahead and they then demand repayment, where do I stand?
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Advice given is purely my opinion, and is not based on any legal training.
Click on the above link to place your order - payment by Paypal.
_________________________ _______
Sorry, but I cannot deal with your case by PM - please ask questions in your own thread. If you do not get a reply within 48 hours send a PM, with a link to the relevant thread, to any Site Team Member.
DO NOT SEND QUESTIONS ABOUT YOUR CLAIM TO ADMIN, or our WEBMASTER - YOU WILL NOT RECEIVE A REPLY.
Advice given is purely my opinion, and is not based on any legal training.
Or you could see it like this: If they close you down, they become a creditor just like any other, you then negotiate a monthly repayment that doesn't leave you in major trouble, insisting they freeze the interest until it's paid off.
When you get your charges back, you can use that to pay off a good chunk off your o/d.
At the moment, whatever you pay monthly is disappearing in charges without ever diminishing your o/d. See this as an opportunity to reduce your overall debt level, not as a threat or danger.
I note you mention reclaiming "management time", what is it? How much is it for? I'm not sure whether it's a reclaimable charge or not, so please give us some details.
Apologies to people who I was in the process of helping, I may be gone some time.
The thing is that they could ask for repayment any time....even without you claiming it back.
I cant say do it, but i would probabally be very tempted to! Can you open a parachute acount just incase, its worth checking if another bank would give you the same as RBS. If you claimed sucessfully could you pay it off the OD then go elsewhere and ask for a reduced OD?
Clarification Please
. Each has a mega overdraft
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