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[bish]

I have been reading as much as I can on this site for some weeks now and have taken the steps recomended to recover over £7000.00 in charges from the Abbey on my current account in the last six years. Although the recovery of such a large amount of money would certainly solve our financial difficulties at the moment I can not help but think that everyone is missing the bigger picture here. We are all so concerned with re-claiming this money that we are avoiding the main issue, the banks have for at least six years been ripping off their customers to the tune of billions of pounds. The OFT have been ignoring this, and are still giving them time too sort things out. Licences are issued to the banks and credit card companies without any checks on wether they are actualy abiding by the consumer credit act.What is the point of the consumer credit act if no one actualy checks to see if those penalty charges are a true reflection of costs. It's like issuing a driving licence on the say so of the driver.I urge every one what ever their circumstances to complain to the OFT about these charges.

 

We will take this to court if necessary to claim back these unfair charges, However there are many people out there that do not have the means to do this or the knowledge to even know that they have been ripped off, it is our duty to help every one who have been ripped off by the banks.

 

The Abbey are not satisfied with taking £7000.00 in penalty charges and interest they have now decided to, as of 10/04/06, to take £130.00 per month from my wifes mobility allowance to pay off our overdraft. Truly unscrupulouse Ba***rds.

[Movingon]

Morning Bish Sir.

 

I can tell you that the bigger issue you refer to is most certainly NOT being ignored. I myself have a meeting with the Rt. Hon. Geoff Hoon MP on friday afternoon; and I intend to give him both barrells. Also, a lot of us have complained to the OFT on the basis that our banks are "not a fit and proper person" to hold a consumer credit licence.

 

Why don't you post a thread in the shAbbey area and let us know how you're going on? By the way - welcome to the forum, and make sure you look after them thar chickens!!

[amber2508]

 

The Abbey are not satisfied with taking £7000.00 in penalty charges and interest they have now decided to, as of 10/04/06, to take £130.00 per month from my wifes mobility allowance to pay off our overdraft. Truly unscrupulouse Ba***rds.

Know how your wife feels Bish.

 

I can't see a way out of it and the charges are just snowballing. I can't afford to pay my bills because of it, so now they are on my back. There is only my son and me, as i am seperated, so i stuggle to find the money for food. My b/friend has been helping me out with food and bills where he can but even he does not earn a great deal and has his own bills/mortgage to pay.

 

The banks are the lowest of the low in my opinion and have not consience.

 

I get the impression the banks dictate what the OFT does as they are so powerful.

[Movingon]

Bish - they are not allowed to take benefits to offset debt. Simply not permitted.

 

Go to the shAbbey forum and post there mate; we'll get you some help, never worry!

[amber2508]

Bish - they are not allowed to take benefits to offset debt. Simply not permitted.

 

 

Hi StoneLaughter

 

Sorry if this post was meant for Bish but i didn't know where else to post seeing as he is also on about benefits, i thought it would be best to carry on on this thread. Please tell me if i am wrong and i'll start another thread.

 

My question is this:-

 

Could you elaborate a little please on the above quote, ie, the why's, whats, and wherefores etc of not being allowed to take benefit payment to offset debts? Also could i write a letter to the bank about this and what could i put in the letter when telling them about taking my disability benefit?

 

Thank you

 

Any help will be much appreciated.

[Movingon]

advicewirral - Wirral CLSP

 

You should write to your bank before (about 7 days before) each time an expected credit goes in stating where the credit is coming from and what you intend to use that entire credit for. They will not use the money so appropriated.

 

However!

 

Note the passage in the link where it says that the bank will not tolerate this situation for long before asking you not to bank with them any more. I don't know how accurate or current that part is, but there is plenty of info about this around the 'net.

 

I will find more - watch this space!

[sues35]

Know how your wife feels Bish. I have all my Disability Living Allowance, (meant to be used for my care) taken in charges every month by the Halifax. I only have that and Contribution Based Job seekers allowance to live on as i was made redundent recently and am finding it very difficult to get work because of my disability.

 

I can't see a way out of it and the charges are just snowballing. I can't afford to pay my bills because of it, so now they are on my back. There is only my son and me, as i am seperated, so i stuggle to find the money for food. My b/friend has been helping me out with food and bills where he can but even he does not earn a great deal and has his own bills/mortgage to pay.

 

The banks are the lowest of the low in my opinion and have not consience.

 

I get the impression the banks dictate what the OFT does as they are so powerful.

 

Hi. Read your thread and thought i would offer some advice.

 

First of all contact the benefits agency who pays your allowance and explain the situation to them. They can make payments by giro for the time being, giving you time to either open a post office account or a basic bank account(offering DD but no OD or cheque book) with another bank. If you are struggling to pay debts whilst on benefits, there is a scheme open to you where you can pay the debt off and repay loan with no interest added, in some cases it saves quite a bit of money if you are being charged daily interest etc. Email me for more info.

 

Write to the bank and explain that the money that is paid into the account is "already spent" (show income and expenditure sheet) and that you can afford to offer an amount to repay the OD each month. As long as you offer an amount they should accept this.

 

How old is your son? Does he live with you permanently? I may be able to offer advice if i know how old he is.

 

Read through FAQs on reclaiming bank charges (they are yours by right) and start the process by sending the data protection letter found in the library on this forum.

 

If i can be of any more help please follow the links below

 

Good luck

 

Sue:)

[jonni2bad]

As mentioned, there is a process called the "Right of Appropriation" - this allows you to assign funds entering your account to specific events and needs.

 

It is intended as a short term remedy only, and repeated use would probably see the account facilities withdrawn. It is quite handy if you are just about to open a parachute account and need some breathing space.

 

Some banks do not understand this process since it is not very often used. You might need to explain it when handing in the letter.

 

Also, whilst we can try this, there are 2 possible problems;

 

1) Ideally, you should give the bank 7 days notice. If they are aware of this, they could disregard the request.

 

2) They may just disregard it anyway and swallow up the money. You would then have to complain and involve the Financial Ombudsman Service and, eventually, get it resolved. This could take a few weeks and would not solve your immediate problem.

 

This is an example of the letter needed

 

****************************************

 

 

[your address]

 

 

 

 

[bank name & address]

 

 

[date]

 

 

 

 

RIGHT OF APPROPRIATION

 

 

Dear Sir/Madam,

 

ACCOUNT NUMBER: xxxxxxxxx

 

I am writing to inform you that I am due to have a Tax Credit payment of £xxx paid into my account on xx/xx/xx, and I wish to use my first right of appropriation for this money, for the following purposes;

Direct Debit payment to British Gas on xx/xx/xx for the amount of £xx

Standing Order - Mortgage repayment on xx/xx/xx for the amount of £xxx

*Housekeeping money £xx

*Rent £xx

 

*I will withdraw the money on the day that it is deposited for the above use, and I would be grateful if you would ensure that any other payments out of my account do not interfere with this withdrawal.

 

Yours faithfully,

 

 

[signature]

 

 

[print name]

[amber2508]

How old is your son? Does he live with you permanently? I may be able to offer advice if i know how old he is.

My son is 12

 

Thank you so much for you advice, i will definately write a letter tonight. Brought a tear to my eye when reading your reply.

[amber2508]

As mentioned, there is a process called the "Right of Appropriation" - this allows you to assign funds entering your account to specific events and needs.

 

It is intended as a short term remedy only, and repeated use would probably see the account facilities withdrawn. It is quite handy if you are just about to open a parachute account and need some breathing space.

 

Some banks do not understand this process since it is not very often used. You might need to explain it when handing in the letter.

 

Also, whilst we can try this, there are 2 possible problems;

 

1) Ideally, you should give the bank 7 days notice. If they are aware of this, they could disregard the request.

 

2) They may just disregard it anyway and swallow up the money. You would then have to complain and involve the Financial Ombudsman Service and, eventually, get it resolved. This could take a few weeks and would not solve your immediate problem.

 

This is an example of the letter needed

 

****************************************

 

 

[your address]

 

 

 

 

[bank name & address]

 

 

[date]

 

 

 

 

RIGHT OF APPROPRIATION

 

 

Dear Sir/Madam,

 

ACCOUNT NUMBER: xxxxxxxxx

 

I am writing to inform you that I am due to have a Tax Credit payment of £xxx paid into my account on xx/xx/xx, and I wish to use my first right of appropriation for this money, for the following purposes;

 

Direct Debit payment to British Gas on xx/xx/xx for the amount of £xx

Standing Order - Mortgage repayment on xx/xx/xx for the amount of £xxx

*Housekeeping money £xx

*Rent £xx

 

*I will withdraw the money on the day that it is deposited for the above use, and I would be grateful if you would ensure that any other payments out of my account do not interfere with this withdrawal.

 

Yours faithfully,

 

 

[signature]

 

 

[print name]

 

Thank so much jonni2bad. I will write a letter straight away. Problem is, this has been goin on since January now so i am in a real mess financially as you can probably imagine. Therefore because i didnt know about this till now, i have never given them any 7 day notices so will i still be able to send the letter. Also is there a chance they might refund the £210 they have taken from me over the past 4 weeks alone, if i explain my circumstances and tell them that it was my disability benefit they have taken and that i now have no money at all?

[jonni2bad]

i have never given them any 7 day notices so will i still be able to send the letter.?

Yes. Whatever has happened on your account in the past has no bearing on this Right.

 

Also is there a chance they might refund the £210 they have taken from me over the past 4 weeks alone, if i explain my circumstances and tell them that it was my disability benefit they have taken and that i now have no money at all?

 

This is always possible, even though many members will tell you they have been knocked back. I would give it a go.

 

this has been goin on since January now so i am in a real mess financially as you can probably imagine.

In different circumstances, 3 years ago, I was in the same financial mire. I walked away from the Halifax and started afresh with a new account elsewhere.

 

Being able to go back to £0 rather than starting each month at -£500 made all the difference in the world. Not once since then have I incurred a bank charge.

 

Get away from the problem asap, a fresh start, then reclaim the money they have taken from you.

[RiaMac]

Hi StoneLaughter

 

How did your meeting go yesterday?

[Movingon]

You could look up my thread - "A Letter I intend to send to my MP"...

[sues35]

My son is 12

 

Thank you so much for you advice, i will definately write a letter tonight. Brought a tear to my ear when reading your reply.

 

IN that case there are opportunities open to you for help to get rid of your debts (any lower that 1,500 in total)

 

Rather than post the information on here, when you might want to keep debt and proceedings confidential please email me lilacsues@aol.com or private msg me on this account. PLease remember that there are always solutions, its just somethines they are hidden:)

 

Sue