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Guest Ian Chesterton

My Own Little Victory Against The Banks

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Guest anorthosite

I've been "between jobs" for a few months (although I'm about to start a new one), and as a result I missed a couple of payements. When I asked the bank to be nice about this they just took the pi$$, so I decided to go on the offensive and claimed all my bank charges back under "financial hardship". Although most people's claims for bank charges are tied up in the court case, they still have to act if you are having any difficulties.

I took about a month to get a decision, and I had to fill in a few declarations about my situation. Then they wrote me a letter saying that bank charges are fair and I should pay them and that just this once they would make an exception.

I've just been re-payed over £2000.

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I've been "between jobs" for a few months (although I'm about to start a new one), and as a result I missed a couple of payements. When I asked the bank to be nice about this they just took the pi$$, so I decided to go on the offensive and claimed all my bank charges back under "financial hardship". Although most people's claims for bank charges are tied up in the court case, they still have to act if you are having any difficulties.

I took about a month to get a decision, and I had to fill in a few declarations about my situation. Then they wrote me a letter saying that bank charges are fair and I should pay them and that just this once they would make an exception.

I've just been re-payed over £2000.

Christ, if they think 2k worth of charges is fair, i wonder what they think unfair would be.

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Christ, if they think 2k worth of charges is fair, i wonder what they think unfair would be.

They might find out. If the current case goes against them, they may end up repaying charges going back to 1995 compounded @ 8%.

p-o-p

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Guest anorthosite
I can't help feeling this doesn't add up...

How do you mean?

Edit: To clarify, I asked for all my charges back.

Edited by anorthosite

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How do you mean?

Edit: To clarify, I asked for all my charges back.

Ah, I took it to mean that you had only reclaimed charges on the "couple" of missed payment penalties. I still don't quite get how you paid over 2k in charges though.

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I can't help feeling this doesn't add up...

Look at anorthosite's picture. Imagine yourself as a young and inexperienced female branch manager. He is clearly angry with the bank. You personify the bank.......................

p-o-p

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Look at anorthosite's picture. Imagine yourself as a young and inexperienced female branch manager. He is clearly angry with the bank. You personify the bank.......................

p-o-p

Am I wearing a name badge which appears to be resting gently on a nipple piercing?

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Ah, I took it to mean that you had only reclaimed charges on the "couple" of missed payment penalties. I still don't quite get how you paid over 2k in charges though.

It's a fair question - how did you rack up 2K of charges?

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Guest anorthosite
It's a fair question - how did you rack up 2K of charges?

Oh the usual rubbish over the past 6 or 7 years, a direct debit here, going slightly overdrawn there, then getting hit for charges the next month. A "problem landlord" left me penniless for a few moths at one point and the bank were merciless in those months.

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Guest Skinty
Oh the usual rubbish over the past 6 or 7 years, a direct debit here, going slightly overdrawn there, then getting hit for charges the next month. A "problem landlord" left me penniless for a few moths at one point and the bank were merciless in those months.

It's hard not to conclude that the banks basically want people at the edge of the debt that they can afford. Overdrafts just redefine zero, cash machines take ages to give you the correct balance. It all adds up to greater chance of making a small mistake that allows them to charge you 40 quid for something as small as being one pence beyond your limit.

For example:

Student charged £48 bank fees for going 1p into the red

http://deadlinescotland.wordpress.com/2009...n-the-red-1269/

http://www.dailyrecord.co.uk/news/scottish...86908-21469682/

http://edinburghnews.scotsman.com/topstori...enny.5395262.jp

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Guest DissipatedYouthIsValuable
Am I wearing a name badge which appears to be resting gently on a nipple piercing?

No.

Edited by DissipatedYouthIsValuable

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Good result. I cannot wait for the banks to lose the current court case, and lose they inevitably will, because there are going to be millions paid back.

Most banks are aware they're going to lose, and have ringfenced money for the eventual goldrush, and it has indeed been speculated that many banks are actually hoping they will lose the court case - because it will justify them charging people a nominal account fee, whether you're in the red or not.

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Good result. I cannot wait for the banks to lose the current court case, and lose they inevitably will, because there are going to be millions paid back.

I wouldn't count on it. I'm expecting a "very British fudge" to get the banks off the hook.

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I wouldn't count on it. I'm expecting a "very British fudge" to get the banks off the hook.

Well, a lot of people think the banks actually run the whole show, so this might be an indication of whether they do or not.

Either way, I am not convinced that I should pay for my bank account when in the black. I lent them my money, at a certain rate, they lend it out again at a higher rate. This should be the end of it.

Charges may be excessive, but now this will be used as an excuse to charge everyone a monthly fee, either that or borrowing rates will go up. Got to make money from somewhere.

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How do you mean?

Edit: To clarify, I asked for all my charges back.

So were all the missed payments(£2000) down to financial hardship or your own lack of organisation? My view on charges has changed somewhat. I did think they were unfair before. I think maybe the £35 bank charge is unfair as in too high. I don't think charges are unfair.

Can anyone imagine if your credit card company said pay it back when you want and pay back whenever you want. Interest rates would be above 40% on a credit card as the risk to lend would be too high. The charge is there to enforce some discipline on the borrower. If the fee is not high enough to cause some pain, then the discipline will not be enforced, and defaults will become higher causing credit to become more expensive for those who have not been too lazy to make a payment before the due date...

If you borrowed money, and you had the money in your account at the time of the charge to pay it, and you didnt due to your own disorganisation then why sign any contract with a bank? Why spend the money?

I think alot of the people who get hurt most by charges are the ones who go on a consumer binge on the credit card, get their retail fix on the high street then can't be arsed keeping upto date with their payments.

What about the old lady or pensioner who rushes down to the branch on the due date to make the payment to avoid being late and has never missed one payment in 10 years? Is it really fair to punish the prudent who pay back what they borrow faithfully each month?

The money you borrow from a bank is the banks money remember, it is their credit card in your hand, not your money, so buying stuff with this and not paying it back is theft in some ways.

It is this welfair state attitude that someone else should pay for me, someone else should take the risk...No one seems to take any responsibility for their own actions...

So what I would say is, anyone has a right to make a case that some charges are unfair in certain circumstances...but the people who generally rack up £2000 of charges should never have a credit card or overdraft limit in the first place.

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So were all the missed payments(£2000) down to financial hardship or your own lack of organisation? My view on charges has changed somewhat. I did think they were unfair before. I think maybe the £35 bank charge is unfair as in too high. I don't think charges are unfair.

Can anyone imagine if your credit card company said pay it back when you want and pay back whenever you want. Interest rates would be above 40% on a credit card as the risk to lend would be too high. The charge is there to enforce some discipline on the borrower. If the fee is not high enough to cause some pain, then the discipline will not be enforced, and defaults will become higher causing credit to become more expensive for those who have not been too lazy to make a payment before the due date...

If you borrowed money, and you had the money in your account at the time of the charge to pay it, and you didnt due to your own disorganisation then why sign any contract with a bank? Why spend the money?

I think alot of the people who get hurt most by charges are the ones who go on a consumer binge on the credit card, get their retail fix on the high street then can't be arsed keeping upto date with their payments.

What about the old lady or pensioner who rushes down to the branch on the due date to make the payment to avoid being late and has never missed one payment in 10 years? Is it really fair to punish the prudent who pay back what they borrow faithfully each month?

The money you borrow from a bank is the banks money remember, it is their credit card in your hand, not your money, so buying stuff with this and not paying it back is theft in some ways.

It is this welfair state attitude that someone else should pay for me, someone else should take the risk...No one seems to take any responsibility for their own actions...

So what I would say is, anyone has a right to make a case that some charges are unfair in certain circumstances...but the people who generally rack up £2000 of charges should never have a credit card or overdraft limit in the first place.

the point is that they can claim for losses for a party failing to comply with the contract, the charges are a currently way more than the loss the bank makes on the non compliance.

forget not also that in many cases, a charge has made the situation of the other party difficult or impossible to to further comply, as charges are heaped on charges, and interest compounded on those charges too.

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Oh the usual rubbish over the past 6 or 7 years, a direct debit here, going slightly overdrawn there, then getting hit for charges the next month. A "problem landlord" left me penniless for a few moths at one point and the bank were merciless in those months.

So basically, you have a history of missing payments or going overdrawn over the last six or seven years ... quite a ways from the impression you tried to give in your first post of someone who just happened to have a bit of bad luck and got pounced on buy the bank.

Whilst I think that many bank charges were too high, it's the likes of you that will mean we all end up paying more for banking. The concept of the banks using money recovered from people who can't manage their affairs properly to provide free banking for those of us who can is sound.

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So basically, you have a history of missing payments or going overdrawn over the last six or seven years ... quite a ways from the impression you tried to give in your first post of someone who just happened to have a bit of bad luck and got pounced on buy the bank.

Whilst I think that many bank charges were too high, it's the likes of you that will mean we all end up paying more for banking. The concept of the banks using money recovered from people who can't manage their affairs properly to provide free banking for those of us who can is sound.

nothing to do with multi billion pound losses and toxic investment in vehicles gaining their value from mortgage lending at extreme silliness.

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I don't know why we need banks at all. Why can't we just go back to getting pay packets each week? Wheelbarrows for everyone.

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