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UK banking system plumbing new lows.

http://www.prestontoday.net/ViewArticle2.a...ticleid=1701927

Man faces jail over £60 bank debt

Man faces jail over £60 bank debt

A Lancashire man claims he could lose his house and even go to jail after going overdrawn at the bank.

Chris Lyons, from Bamber Bridge, is just one of thousands of people to fall foul of hefty bank charges.

Now personal finance experts have pointed the finger at some of the UK's biggest lenders for making excessive charges, and an official investigation could be launched into their fees structure.

.......

Mr Lyons, of St Aidan's Park, says he has been hit with £575 in bank charges in the last month after going just £60.96 over his overdraft limit on his NatWest current account.

The self-employed gas fitter admits his grasp of finances is not good, but he has since been hit with a £35 charge every time he makes a withdrawal to pay for food, bills and petrol.

The 59-year-old said: "I went into the NatWest branch in Preston to ask if there was any way of extended by overdraft or maybe organising a personal loan and was told I did not owe them enough money, so there was nothing they could do.

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I don't think you can go to jail for not paying debts.

If this is a common misconception it might explain why some people

faced with crippling debt problems feel the need to top themselves.

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I don't think you can go to jail for not paying debts.

If this is a common misconception it might explain why some people

faced with crippling debt problems feel the need to top themselves.

Yes, as far as I am aware it is only for civic debts that you can be gaoled, such as council tax. Any other lending can get you a judgement from the courts, but even that is difficult to enforce (you can refuse entry to debt collectors, they are not court appointed bailifs).

There was a case a while back (sorry, can't find a link) where a collections company tried through the courts to obtain the equity in the house of a woman who had run up a load of debts, but the courts threw it out. They can reposses the house, the car (only if the finance is secured on it), but thats about it.

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Yes, as far as I am aware it is only for civic debts that you can be gaoled, such as council tax. Any other lending can get you a judgement from the courts, but even that is difficult to enforce (you can refuse entry to debt collectors, they are not court appointed bailifs).

There was a case a while back (sorry, can't find a link) where a collections company tried through the courts to obtain the equity in the house of a woman who had run up a load of debts, but the courts threw it out. They can reposses the house, the car (only if the finance is secured on it), but thats about it.

lender beware!

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I don't think you can go to jail for not paying debts.

If this is a common misconception it might explain why some people

faced with crippling debt problems feel the need to top themselves.

You can go to jail for fraud, ie lying to get the loan in the first place.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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