Zero_Savings UE Diary

[billypre]

Re: Zero_Savings UE Diary

Niddy, just a shot in the dark with my limited knowledge but isn't their a way that when this sort of thing happens you can in any way exercise "First Right of appropriation" to get the money refunded to your bank account ?

I done this when i got bank charges and i was on benefits. The money was refunded after i went higher and higher through their organisation until someone finally admitted my rights.

Might be way off the mark but you never know.

[Never-In-Doubt]

Re: Zero_Savings UE Diary

Nah Billy, you can argue til the cows come home but the terms are clear, if you owe cash on another account they can and will utilise RoSo - unless you are in financial hardship and/or the monies taken was benefit payments. I also have restricted knowledge of the whole appropriation process but I do know RoSo and this will be the killer blow, unless of course the funds taken were benefit payments.

[billypre]

Re: Zero_Savings UE Diary

Took this from legal beagles : Unsure if it can be used retrospectively though, but it does seem to NOT be limited to benefits.

Under common law you have a right of appropriation over your own money and money you pay to another.

If a bank informs you it will be taking money from your account to pay itself, for any reason, charges, offset of another account/loan, or just to be swallowed up by an unauthorised overdraft and you can't afford for them to take the money, then you MAY be able to use the Right of Appropriation to stop them taking the money temporarily.

You should take a letter to the bank at least 7 days before the payment is due in / they are due to take the money. If you are up to it, then take the letter in and ask to see someone and insist on it being actioned there and then. If you post letters they will often go to central processing centres and not be dealt with for days, by which time it is too late.

You need to tell the bank what date and the amount of the payment due in to the account, and the dates and amounts of payments that are essential to be paid.

The most common use of this right is to rescue your Housing Benefit/Local Housing Allowance from bank charges and enable it to still reach your landlord.

Your rights do not extend solely to benefits - and you may use this for ANY payments into an account which NEED to be used for a specific purpose.


If the payment you are needing to appropriate is something regular we would recommend that you open a basic account at a different bank and use that solely for the incoming funds and outgoing payments. For example, Housing Benefit/Local Housing Allowance - this should help stop any problems arising in the future.

[Never-In-Doubt]

Re: Zero_Savings UE Diary

But mate you're still missing the key point, it is still upto the bank to action it, as their interests come before yours do then they will reject the claim - regardless of whether you take it in (writing). System error or human error are the most common excuses....

I'm just saying, in this case of retrospect, its simply too late. As I originally stated, close this account and move banks. That's all that can be done to stop it happening again.

[billypre]

Re: Zero_Savings UE Diary

Agreed. Had a look and i is hard retrospectively to action on it. Switch banks and move on i suppose.

[Never-In-Doubt]

Re: Zero_Savings UE Diary

Agreed. Had a look and i is hard retrospectively to action on it. Switch banks and move on i suppose.

That'd be the best action, in this situation.

[zero_savings]

Re: Zero_Savings UE Diary

Update as per below..

MBNA-2

Type: Credit Card
Date Commenced: pre 2007
Balance: £4600
Date Last Paid: 03/2009
Payment Status: Not paying
Account Status: Default
Account Owner: DCA


• 09/2009 – Sent CCA request letter to MBNA
• 10/2009 – Received CCA
• 09/2010 – Niddy confirmed this is "kind of enforceable"
• 22/12/2010 Received letter threatening with CCJ, Bailiff warrant, Charging order etc... – ignored the letter.
• 03/01/2011 Received letter offering £10 per month free of interest. – ignored the letter.
• 13/01/2011 Received letter offering reduced settlement amount, which will be accepted as F&F settlement; but no amount stated in the letter. Thinking of coming up with about max 30% and try to get the default removed. Will this route work?

[Never-In-Doubt]

Re: Zero_Savings UE Diary

Update as per below..

Nope, they won't remove default matey - forget that idea, and also 30% is way too high! Just sit tight and see what they come up with next, you can at least consider your options and work out a maximum offer - but do not apply it as yet.... wait and see if they write back first.