welcome

[steve45]

hello been reading the forums for the last few months and just decided to become a active member i was a sole trader up untill august last year but due to 3 companies going bust owing me money i had no choice but to shut down i am now in dedt for 52 grand i am on a dedt management plan but a few wont accept what i am offering to pay over the last year i have had a lot of late payment charges and a lot of interest added i recon about 10000 pounds of this is interest and late payment charges and returned dds can i claim any back and how do i get started thanks

[ukaviator]

Hello Steve45

 

Welcome to CAG. Before you start the process of getting your charges back, please have a thorough read of the FAQs (there’s a Step by Step guide here too). You should print both of these out to refer to, so as to avoid having to ask basic questions later. Our aim is to make you aware of your rights as a consumer, enabling you to fight back against unlawful bank, credit and store card charges. In the website you will find information on how you could get your money back.

 

Then look at other threads in your bank’s forum, so as you know what you can expect to happen.

 

You need to spend 2 or 3 days gradually getting your head round everything. If you find a forum/thread/post of interest, save it in your Favourites, so as you can always find it easily.

 

There’s a lot to take in, but it’s time well spent and will ensure that you succeed in your claim without problems. Remember it’s not a race, don’t rush, just follow the guidelines one step at a time.

 

Take your time and have a good read around this site. Then come and join us in our forum. Here we can guide you every step of the way. Please remember, we are here to help you help your self.

 

When you feel confident that you understand the process and the various stages involved, start a new thread in your bank’s forum and post your progress and any questions there and you’ll get plenty of help.

 

Business accounts are covered by Common Law rather than Consumer Law, so your letters need to be worded slightly differently. You cannot claim back your statements using the Data Protection Act, so it can be a more costly process if you have not kept records. However you might be able to use the Data Protection Act as you are a sole trader, worth a try as bank staff don't seem to know this.

 

If you do not have all your statements, then you will have to request a summary of charges from the bank. However, unlike personal accounts, you cannot claim this for £10 under the Data Protection Act, because it does not cover businesses. And as some banks are reported to be asking £5-£10 for a reproduced statement, this could be a costly process. But you can include these costs as part of your claim.

 

You need to send your letters to your local branch, rather than head office, to ensure that if your claim makes it all the way to court, you can have the hearing in your local area, rather than the bank's.

 

If you do win back some of your charges, and you have previously claimed these as a tax deduction against your business, you are required to notify the tax office that your taxable income has changed. Unfortunately, this will result in an increase in your taxable income, but you are required to do this by law.

 

Apart from these key points, the process is almost exactly the same.

 

Please also understand that any advice that you receive is normally based on experience and expert advice should be sought if needed.

 

All the info to get you started is here:

 

http://www.consumeractiongroup.c o.uk...se-read-these/

 

There are more links below to assist you get around the site.

 

Good luck

 

Ukaviator

[steve45]

thanks for the quick reply as all my accounts are in my own name and not buisness name can i just regard then as personal accounts

[ukaviator]

Yes, this will be easier to get your statements from them using the Data Protection Act.

 

Don't forget that Credit Card charge claims are still ongoing, so you can go after those straight away without your claim being put on hold by the courts.