What's the deal with reclaiming charges now?

[Loopyloo]

I had a current account in arrears etc owned by Lowell's now (details on my UE diary).
When I was younger I accumulated over £2200 in charges fee ranged from £20 - £39.I put in a claim in 2008/2009 when I started to struggle financially it was when the test case was going on, claim denied they offered me £140 but I never took them up on that.

Now I'm not wanting to reclaim at the moment as that would reset my SB clock, but if I had to say to raise funds towards a F&F bearing in mind I would only go down that route if I really had to. Are claims on bank charges even just on getting the difference back of the fees now successful?

[Never-In-Doubt]

Re: What's the deal with reclaiming charges now?

Hi

ok we always say if the value of reclaim is HIGHER than the debt it's worth doing it now. If however it's not, they WILL utilise Right of SetOff (RoSO) - so any refund would pay into the debt thus making it a waste of effort.

Thats how you establish whether it's worth it. Now, moving on - you now need to also consider the facts. If a debt has been assigned in totality to a dca then you *can* reclaim as the original creditor cannot pay the dca as they are a separate business entity - but it's still risky so not really advisable - but the option is there so you could do that and then use the refund to do a F&F with the DCA. We save that for cases where they go legal.

So to answer you, first answer the point above then you'll know if it's worth it or not.

[Loopyloo]

Re: What's the deal with reclaiming charges now?

Well value of refund would be nowhere near the value of any of my debts! But I'll keep it in mind if things do become legal and only if it gets to that stage.

[Never-In-Doubt]

Re: What's the deal with reclaiming charges now?

If that happens come here - let us know! We're here to help. All the way to the end (SB)...

[Loopyloo]

Re: What's the deal with reclaiming charges now?

Cheers

[PlanB]

Re: What's the deal with reclaiming charges now?

value of refund would be nowhere near the value of any of my debts! But I'll keep it in mind if things do become legal and only if it gets to that stage.

Loopyloo I've read elsewhere that you had several loans that you have paid off over the years which had PPI. Is there any reason why you shouldn't claim that PPI back now since there's no chance they will ever go legal because they're already settled in full and closed?

[Loopyloo]

Re: What's the deal with reclaiming charges now?

That's right PlanB it's something I'm going to do - eventually its on my to do list. The bank charges were just something else I thought of last night whilst reading through the forum and was wondering if they can still be claimed back. I won't be trying to claim them back though.