bank charges

[tree monkey]

i im just wondering does anyone know if you can still claim your bank charges back?

as after 5 years of struggling to pay depts dack ive just lloyds tsb to pay off and 80%of which is charges.

so just a question if i can kick them back a little

Thanks TM

[JAMIE1]

The high court took the banks side and said that they dont have to pay out, if you were lucky enough to get in when it was first talked about 6/7 years ago they paid out, but when everyone jumped on it the banks stopped and it went to court and the banks won. Only thing you can claim from them now is PPI on loans and credit cards

[adrian007]

You can't claim them back as such, but if I were in your shoes I'd have a chat with them and say "You know this is nearly all charges and hardly anything that I actually borrowed - can we come to an arrangement?"

 

Maybe you could have interest frozen as you pay back or maybe they would waive some of the charges in return for a lump sum repayment.

[Ian Leach]

As far as i know you can't claim back bank charges (i couldn't), the only options i know of is get a loan to pay of debt and close account then you will have 1 monthly payment with no charges. Or get them to pass it on to a collector and sort out a deal with them (charges and intrest stops when passed on).

[tree monkey]

i owe 2.5k and 1.9k is charges ive offered them 1k as a settlement and they wont accept it so im giving them minimum payment until they get fed up.

the interest is frozen so its not getting any bigger it just bugs me having my arse kicked by them.

[Pedroski]

They won't get fed up accepting minimum payment. It'll just go on and on and on and on. Might be worth getting in touch with Citizens Advice and asking if they'll write to the bank with suggested settlement terms.

[Stereo]

TM, get in touch with CCCS or payplan. Have you already defaulted on the debt? If so then the best way to get away with minimum settlement (assuming you credit file is already screwed) is to pay them £1 per month for a while and then go for a full and final offer once they know they are never really going to get it all back.

 

I know there is a lot of stigma and attitude about debt but a lot of people got into problems trying to support their business etc. and got rate-jacked by the banks when it all went wrong.

 

The banks got bailed out (inc Lloyds). Pretty sick that they can't take a better attitude to other people who maybe made a few errors and got into problems.

[renewablejohn]

Go on the National Debtline website. Great for free expert advice and you may be eligible for the new Debt Relief Order. If you can prove your bank has overcharged interest or put through illegal bank charges which then made you overdrawn and incur more bank charges you may have a case with the banking ombudsman. Again National Debtline has standard letters for tackling creditors.

[adrian007]

Plan A

 

Put the 2.5k into a separate account, set up a standing order and forget about it. I'm guessing it is defaulted and this will delay the 'satisfied date' so maybe not the greatest plan ever, but you know your circumstances best.

 

Plan B

 

Use the 1k you have offered in a way that will help your business grow.

 

Plan C

 

If the debt is niggling you more than a tiny bit, maybe it does more harm than good so would be better cleared so your life can carry on without the irritation.

 

Consumer Action Group is another website that has plenty of hints and tips regarding dealing with these companies.

 

No point getting involved in a debt management plan now - they just do what you have done already - try to get the interest frozen and a monthly payment set up. You might be below their nimum size anyway.

 

Good luck

[firewood]

If the debt comes from consumer rather than business loans it is worth checking the loan contract. Many contracts prior to 2007 had illegal terms that broke the consumer credit act these contracts are not enforceble in law and therefore the lender has no legal right to demand repayments or interest. You may be lucky. Cab or a solicitor should be your first port of call.

 

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