I was waiting to hear my court date when out of the blue Nationwide settled for about 80% of the amount claimed plus interest £62 and costs £80, a total of £650 approx...yippee!! And they haven't closed my account.

Me too, FD paid up £656 without any hassle.

I looked up some past threads and apparently you can claim, but business accounts are not covered by the same consumer law so it is risky and they've been known to call in loans etc so I wouldn't risk it myself.

To be honest when you enter into these debt management plans you WILL get defaults because you ARE defaulting on the original payment terms. I used them many years ago and my credit rating suffered for six years, but it was worth it to alleviate the stress and reduce the payments. More relavent help for you can be found at the sister site to this, moneysavingexpert.co.uk...check out the debt forum for alot of support and advice!

I would be inclined to think of the two issues seperately. The law is on your side regarding the charges and you should immediately proceed with the first letter asking for statements/details of charges and follow this up with a claim for the full amount. This refund of money will help your financial situation no end I should think. Regarding the other issue, its normal for banks to reject offers made by debt repayment companies but eventually when they realise they aren't getting anywhere they accept them. Payplan should be dealing with this not you, thats the whole point of using them - they deal with it and you don't get so stressed. If you feel they are not doing it properly however you should go back to the CAB. But today - send off Letter 1 in the template library to HSBC. A completely different department will deal with this, it should not effect the debt issue.

Hello. Does anyone know if you can use this for reclaiming charges on business banking accounts...? Anyone have any experience of this please...? Thank you.

Well if they close my current account I shall refuse to pay the loan!

Thats sounds like good news! I'm claiming £840 in charges. I have a large loan with FD and am actually very pleased with their services (apart from the charges!) do you think its likely they'd close my account while still owing them the loan...? I would not want my banking facilities withdrawn?