Help with Barclays Overdraft Default!

[The Debt Star]

Re: Help with Barclays Overdraft Default!

The LSB and the Banks pay lip service to it, couldn't agree more. I complained to the LSB and got nice letters back from Robert Skinner but nothing more. It was quoting the Code in a complaint to the FOS that helped in my case.

[Never-In-Doubt]

Re: Help with Barclays Overdraft Default!

Section 9 of the Code. Have the Bank acted reasonably in withdrawing the overdraft in the manner they have? Yes they CAN do it, but if they have breached the spirit of Section 9 of the Code may be cause for a complaint to the FOS. That can lead to an account being recalled from closure and defaults removing from the CRFs -I know because I successfully did it last year.

No mate, it all depends on the banks terms, the lending standard is not a regulator - remember that! It replaced the daily functions of the old Banking Code, pretty much!

Serious, this thread has gone way off track - sometimes too many cooks and all that! This is a simple, sorry - nothing you can do really, case yet here we are on page 4 already

* not a rant at anyone, but it's killing the OP's thread with all this nonsense. A bank can and will do as per their own terms! Simples. Barclays say they can recall at any time giving notice, or not, therefore this is perfectly clear to me. Forget it, move on and learn from it.... try appealing to the banks better nature, no legal threat will stand - the bank did do right here.

Sorry, hate admitting that, but it is true. The bank done nothing wrong.

[Never-In-Doubt]

Re: Help with Barclays Overdraft Default!

The LSB and the Banks pay lip service to it, couldn't agree more. I complained to the LSB and got nice letters back from Robert Skinner but nothing more. It was quoting the Code in a complaint to the FOS that helped in my case.

The lending code has no power mate, no lawyer, court or bank would affirm anything based on what a group of banks have set out as best practice, it holds no legal powers whatsoever - its like an internal bank code! Really, its a waste of time, space and money! IMO.

[The Debt Star]

Re: Help with Barclays Overdraft Default!

No, each case differs and is determined on its own history and facts. I tell you that I got my OH's account re-opened and a default removed last year. End of.

In our case the bank had breached section 9 of the Lending Code. I have said that the LSB did nothing. The bank did nothing. It was the FOS that adjudicated in our favour and the arguments we used were based on the Code.

Also in our case it was kicked off by OH not keeping up repayments on a longstanding overdraft.

[Never-In-Doubt]

Re: Help with Barclays Overdraft Default!

No, each case differs and is determined on its own history and facts. I tell you that I got my OH's account re-opened and a default removed last year. End of.

In our case the bank had breached section 9 of the Lending Code. I have said that the LSB did nothing. The bank did nothing. It was the FOS that adjudicated in our favour and the arguments we used were based on the Code.

Also in our case it was kicked off by OH not keeping up repayments on a longstanding overdarft.

Ok, a few points here - the code is not legislation - first fact. It holds no legal powers whatsoever, 2nd fact.

This is a voluntary code of practice which sets standards for financial institutions to follow when they are dealing with their personal and small business customers in the United Kingdom. It provide valuable protection for customers and explains how firms are expected to deal with them day-to-day and in times of financial difficulties.

Yes, going to the FOS was correct, they have the power - they can fine and or instruct the lender to do things. Based on what you say they have used the banks own wording against them, fine - thats what we're doing here on a daily basis but i'm clarifying that the lending code has no legal power whatsoever mate.

Next point, why would you want to go back to the same bank that just shit on you? Are you nuts or a glutton for punishment? Im having the same closure issues with HSBC - me, well i've maxed out a card and 2 overdrafts so now owe them £3500 and told them they can swivel for it..... simples.

The moment they broke our agreement, I felt it was worth £3500. Point being, banks do this once, they'll do it again...... i'm now glad i'm out of HSBC (plus i'm £3500 better off)....

[The Debt Star]

Re: Help with Barclays Overdraft Default!

Yeah I totally accept your valid points.

In our case the "real" issue was the default removal. The account being recalled from closure was incidental really, although its always handy to have a current account with full facilities, even if it is with shitty HSBC.

[Never-In-Doubt]

Re: Help with Barclays Overdraft Default!

Yeah I totally accept your valid points.

In our case the "real" issue was the default removal. The account being recalled from closure was incidental really, although its always handy to have a current account with full facilities, even if it is with shitty HSBC.

Oh I have several accounts lol, HBOS, Bank of Cyprus, Nationwide, Coventry, Leeds BS.......

All are full accounts, but the HSBC thing pissed me off cos I did use it all the time, however now coventry get my business - suits me!

[helmsman]

Re: Help with Barclays Overdraft Default!

Ok, a few points here - the code is not legislation - first fact. It holds no legal powers whatsoever, 2nd fact.



Yes, going to the FOS was correct, they have the power - they can fine and or instruct the lender to do things. Based on what you say they have used the banks own wording against them, fine - thats what we're doing here on a daily basis but i'm clarifying that the lending code has no legal power whatsoever mate.

Next point, why would you want to go back to the same bank that just shit on you? Are you nuts or a glutton for punishment? Im having the same closure issues with HSBC - me, well i've maxed out a card and 2 overdrafts so now owe them £3500 and told them they can swivel for it..... simples.
hi niddy,
If you find a dca chasing you I can recommend a good forum for advice.

The moment they broke our agreement, I felt it was worth £3500. Point being, banks do this once, they'll do it again...... i'm now glad i'm out of HSBC (plus i'm £3500 better off)....

hi niddy,
If you find a dca chasing you I can recommend a good forum for advice AAF.

[Never-In-Doubt]

Re: Help with Barclays Overdraft Default!

hi niddy,
If you find a dca chasing you

Lol, they won't dare......

I'd have a field day - you know I also "stole" ahem "borrowed" a shit load from the payday loans - ooops, need to update this actually