Claiming back bank charges..

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Claiming back bank charges..

    This is becoming a very popular subject and with alot of success stories. Thank you for bringing the subject to the forum!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Claiming back bank charges..
    TC wrote:
    This is becoming a very popular subject and with alot of success stories. Thank you for bringing the subject to the forum!

    I agree, certainly an "added value" service.

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Claiming back bank charges..

    I claimed back £600+, they offered me £340 which was actually in my account the day the offer letter arrived, I replied that I would settle for £540, I have since had a "We are looking into this matter for you and will reply within 4 weeks" letter. I will let you know if I get the balance of the charges.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Claiming back bank charges..Vaguely connected

    I am considering offering to help an acquaintance to reclaim bank charges, but I don't want to get his hopes up only for him to fall at the first hurdle.

    This chap has overpaid bank charges on a large scale. He also has an IVA.

    If there is a successful claim, will he be paying all the money to his creditors / IVA supervisor?

    Any comments on the possible outcomes or watch points would be appreciated.

    Thank you

    Sheelagh
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Claiming back bank charges..

    I have not heard of anyone who failed to receive any offer of compensation from their bank for charges, so in that respect I would recommend getting started with the claims procedure.

    I am not sure what the impact on an IVA is, however, an IVA is not like a bankruptcy order whereby all the money would go to the receiver. Broadly speaking, an IVA is an agreement with your creditors to pay less than what you owe to avoid going bankrupt whereby the creditor would receive very little.

    I would first check the small print to see if there is any clawback of additional income noted in the agreement, or have a chat with an alternative insolvency practitioner to seek their opinion.

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