Notice of Intent!

[rainbow22]

Hi Folks, Seeing the article in today's Daily Mail, reminded me to have a look into the Forum- i havent done so for a while- Due to larger overall debt problems which are being (now) handled by a Fre Debt managment agency, the topic of bank charges and how they in them selves exacerbated my indebtedness- its time to get them back: in themselves they are likely to clear significant amount of money from my eixiting overdraft and/or credit card.

So.........it begins.

There is a glut of information on thse forum pages- but any objective insight is most welcome at this early stage

[Jordan]

Goodluck. It's easier than you may think ...

[Hedgehog]

Rainbow, spend a day or two reading the faqs, and then peoples posts, its worth the time, you get to recognize the stalling tactics, see the 'false' threats they send etc, you will then be ready for each stage!

[rainbow22]

Thanks Jordan and Hedgehog! Appreciate the support. I take on board the advice re, FAQ's etc.

[ppauls150]

Rainbow if you are now with a Debt Management company i take it that some of the things you had with the banks may be in default or now rolled into one payment.

 

All i want to say is when you get as far as being offered a refund please make sure you just don't accept the payment that you are offered without negociating the terms and conditions on how you get your money back from them. If you have been in default or now paying one monthly payment then i sugest that as part of the terms and conditions is to make sure you put it in writing that you wish to have your refund made by cheque otherwise these companies will probably keep the money and wipe out your debts.

 

Don't forget this is your money so do it on your terms to take note. Don't want to scare you soo soon but i believe that you need to be informed incase your not told later down the line.

regards

[rainbow22]

Hi, appreciate your reponse- the situation with the bank charges obviously links into the overall debt picture- it didnt help that as one lot of exceeded overdraft was paid, it simply got extended again through no reason other than anothr £75-£125 pounds of charges.

i guess, taking the overall picture i have it in mind that the refund would clear some, if not all the overdraft and thereby reduce overall level of debt etc. However, i think i know what you are saying about the handling of the refund as to where it goes. My debt management company, gave us advcie quite early on to open up a second account so that any 'punitive action by the banks could be addressed.

[rainbow22]

Have i missed something? Readingthrough these posts, it appears that folk are claiming against credit card companies- is that for charges to?

[Michael Browne]

Yes, charges such as over the limit and late payment charges are reclaimable from CCs

[rainbow22]

Hi Michael, okay - i assume the same principle applies as bank charges? In essence fundamentally illegal in nature?:o

[Michael Browne]

Same principle, same process.

[Jordan]

The OFT report referenced CC charges, not bank charges .. and you can claim for them, so definatley !

[rainbow22]

can i just double check this - the 8% interest added to my claim- that would only be if i pursue this at Court stage? Where does the 8% figure come from as well?

[Jordan]

if it goes to the court stage, you claim the 8% interest .. the spreadsheet in the library calculates this .. you dont apply for this until you file though.

[Michael Browne]

Where does the 8% figure come from as well?

 

It's the interest that you are allowed to claim under section 69 County Courts Act