refund to 'outstanding balance'.

[moving on. .]

Having got charges back,Barclaycard will not pay by cheque as 'I currently have an outstanding balance'...Is there any 'stronger' letter that I can write other than my request for them to pay me by cheque as it is my money!! which they haqve said no to!?

Thank you in advance

jane.

[buzby]

If they credited the money to your account, and the overdraft swallowed much of it, there's nothing you can really do to force the issue. A court would agree that they have paid the money back as required.

[sdm28]

I have been offered a refund of £1700 by HSBC, but no longer have an account with them. I had a loan with HSBC with which I had difficulty repaying. That loan was placed in the hands of a collection agency 2 years ago and I now make regular monthly payments to reduce that loan. HSBC have stated that the cheque would be paid direct to the collection agency to reduce that debt now held by the agency.

 

If the debt is now with an agency, can HSBC force me to pay the agency with the refunded bank charges?

 

Thank you for any assistance.

[buzby]

If they intend paying what is effectively a third party, then I do not see this as fair play, just a manipulation of the process. I'd write to them by Recorded Delivery, putting them on notice that should they wish to pay the DCA that is their concern, but will NOT discharge their obligation to you

 

Since it was their choice to pass the matter to the DCA, it would be an unreasonable action of theirs to effectively pay their 'agent' rather than you. The difficulty as I see it is they agreed to the refund without court intervention, and will refuse to pay you if you do not accept their proposal, so you action remains as before, and may have to institute court action to force repayment.

[moving on. .]

Thanks Buzby for your earlier reply and clearing that up for me....

I have just returned home and was about to ask a similar question to the one above...so I feel you have answered part of my question already!!( what supreme service..lol)

I have just submitted a claim via MCOL for refund from HSBC, an outstanding debt is on the account, which is closed with the HSBC,this debt is now with a DCA called Interim Justica .The charges are double what I owe, and therefore with your advice hoped I would at least be able to get the remainder paid directly to myself. I have been paying off the outstanding debt via a Debt Repayment plan. Now, I have claimed back the charges in my name only ( my partner left me with £20,000 of debt and four young children,!) and as I was working the bank pursued myself for the debt. It has just occured to me that there was an Access card issued on the account...but I know it's in my ex-partners name...(the only one that was!!) and I am sure there is an outstanding balance on it....

I would just like to know whether HSBC are able to use the outstanding amount that I was hoping (really, really hoping !) I would receive to pay that debt also???

very many thanks

jane

[buzby]

I(f your bank account/loan was in joint names, then there is a slight possibility that they could use part of the refund and roll it up into your partner's CC account, but if you've no contact, it might be a good idea to seek a 'disassociation' from him on your credit file, especially if he's moved on to other fields.

 

I'm assuming this would be the same bank's CC (Mastercard?)? If there was no formal marriage, it makes it easier to check your file and sever this link - you may be asked to present evidence of his departure from the household, which can be hard to do, but the bottom line is NOT to let them distribute any repayments, that way you stay in control.

[moving on. .]

Thankyou Buzby,

 

I will write to request a copy of my credt files.

No marriage, ex moved out approx three years ago, and is in rehab....He came off the joint tenancy this Feb.

The Access card was issued along with the account.

HSBC have totally ignored me so far, .... the claim is at the aknowledgement stage. I did not add payment requested by cheque in my POC, but,

I have added a note and sent it with soc to DG Solicitors requesting to be paid by cheque.,do I need to insist now that the charges are not distributed upon refund or see what they say when they finally make an offer?

 

Thank you so much for your help.

jane

[buzby]

Keep your gunpowder dry, see what they say in the interim, and if they seem to be leading you toward an account credit, explain that would not be satisfactory. You don't have to explain why. Let's see how they play it, as it might not be the problem you fear! All the best.

[moving on. .]

Buzby,

I understand...

Thanks so much for your support, I will wait and see what they do.

regards

jane.

[therafalution]

I had a similar situation with tsb, they paid £750 as a gesture of "goodwill" into my account and most of it was swallowed up by charges. I contacted financial ombudsman who said it is their view that the customer should benefit from any such payment and by doing this tsb were being naughty. I have made a formal complaint and fos are now dealing with it.

[sdm28]

If you have been offered a refund of unlawful bank charges and have an outstanding balance with that entity such as a loan it is possible to negotiate sensibly with the bank.

 

For example if you are offered £2000 refund but you have an outstanding balance of say - £5000 - the bank will offer you the refund on the condition that they pay it to the loan account or the agent of the loan account.

 

One should attempt to negotiate with a letter that clearly segregates the loan from the bank charges. If the you have an agreed re-payment plan in place you are legally honoring you part of the bargain to repay that loan under that current agreement.

 

You should offer say a 33/66 split in your favour or a 50/50 split of the refund. This places the banks in a difficult position to say no - as you are willing to meet them part of the way - any magistrate would see this as a fair and reasonable attempt on your part to 'play ball'.

 

Obviously this is looked at on a case by case basis by the bank and may often depend on the long term relationship you have had with the bank - but its worth a try - once they offered what they've offered its unlikely that they will then take it to court as this is an expense to them - try to negotiate for part payments to you and them - sometimes it works - sometimes it doesn't.