Chivs86 Help Guides: How to Reclaim Bank Charges.

The most horrible feeling it has to be -

 

Having debts that you don't feel like you should owe,

Being stuck in a trap - that forces you out of spending how you normally would.

A consequence that many companies are guilty of, with their ridiculous interest rates, and charges.

Companies of all different kinds like Debt Recovery, Credit Card, and Cash Lenders, but the guiltiest of all of these though are probably the banks.

With the most common problem they cause being perhaps Unauthorized Overdraft Charges.

When the evil bankers draw you in with say an overdraft of 100.  They give you a Visa Card, and as soon you go over.  Even for the most smallest amounts, they charge you 10, 15, 25 etc times what you owe them.  Which, fair enough you might be able to pay the first few times, but after that when it becomes charge upon charge.  Well that's just the beginning of getting in more, and more debt.


A thing you can do though if;

• You haven't closed the account down.
• You believe you are in financial hardship,
• and if you think you've got a case, is;

Ask for your money back!

 

Heres How:

 

1. Phone your bank, and tell them you can't afford to pay them back.  Ask them if they can reimburse any of your charges, and they'll probably ask you a load of questions.  How much money you get?  Why you can't pay them? or whatever.  They might offer you a cut price deal to pay them off, and close your account.  Tell them you'll have a think about it.
2. Find the address of your banks main branch, and write to them - simply asking that you would like to request under the freedom of information - a back dated history of your overdraft charges.  Leaving your branch number, and account number a couple of lines below.   As well as a request that you would only like this certain information, and not past Bank Statements (These will cost you about £10 each.
3. Wait for your charges, and when they arrive look up the contact details of a Financial Ombudsman.  A Government service that helps solve financial disputes.
4. Take note of any things about you that would support your claim that you are in financial hardship.  Good examples are; You're unemplyed, You're a Single Parent, You have no permanent residence, You have a Physical or Mental Illness/ Disability, .  Anything that might sound like a good sob story.
   
   Write, E-Mail or Phone explaining your situation.  Why you can't afford to pay back the bank, and why you believe that the bank has been unfair.  Make yourself sound vunerable, the bank sound like the villian, and ask for an address & a reference number so you send them the document of back dated charges.
5. This is in no way guranteed, but the most important thing to remember is that it's free.  If it works you could not only get your debt wiped, but could also get a reimbursement of charges that you've actually paid.  So it's certainly worth a try, and if all else fails you can always get on to the bank - to see if there offer still stands of a cut price deal.
 
Or even better go to your local citizen advice bureau, and tell them about your problem.  The most likely result - they'll get on to your bank, and you'll only have to pay back a little bit each month.  So i mean it really isn't the end of the world - there's always a way out.