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Claiming when overdrawn


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Hi folks,

 

I am wanting to claim my bank charges back but currently have a £2000 student overdraft.

 

If I claim are the bank likely to ask for the overdraft to be paid back? It's the fear of this retaliatary action which is stopping me from taking the first step.

 

Any advice anyone might have about my situation would be greatly appreciated.

 

Thanks

 

Paul

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How much is the charges you will be claiming back?

 

They could, that is a big could... but if you are still a student then I am sure you could open the same account elsewhere?

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How much is the charges you will be claiming back?

 

They could, that is a big could... but if you are still a student then I am sure you could open the same account elsewhere?

 

Charges I would be claiming are around £1400

 

Couldn't really open another account at the mo - Im at minus 1700 on the account and still got another couple years at uni left before I can afford to pay it back

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My advice:

 

Open a 'parahute account' elsewhere.. just in case

 

Proceed with your claim.

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Charges I would be claiming are around £1400

 

This would nearly pay off you overdraft, which is good.

 

Couldn't really open another account at the mo - Im at minus 1700 on the account and still got another couple years at uni left before I can afford to pay it back

 

When i was a student, only 4 years ago... They would let you transfer to another bank, no matter how much into your overdraft was. In the end, you are a student, you are meant to be in debt and that;s why banks want your business. There is no harm in trying.

 

ps. I had 3 student accounts, all with overdrafts. I recommend you don't do that though!

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Newbie at this - what's a 'parachute account'?

 

Paul

 

Sorry, we use it here in the forums a lot!

 

A parachute account is essentially a backup account. A bank account that you have opened, just in casethe bank you use threaten you with closure, overdraft removal etc. The parachute account would obviously be with a different company to the one you are claiming against!

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I agree, open another account elsewhere and then get your money back. They will probably just credit your account with the £1400 (don't forget to add interest), and then send you a sanctimonious letter warning you that if you ever pull a stunt like that again they'll close your account. The worst that can happen is that they refund your money and close your account (which may, or may not be legal), in which case you have to find a couple of hundred quid to pay off the balance.

Robertxc v. Abbey - £3300 Settled in full

Robertxc v. Clydesdale - £750 Settled in full

Nationwide v. Robertxc - £2000 overdraft wiped out, Default removed by order of the sheriff

Robertxc v. Style Card - Default removed by order of the sheriff

Robertxc v. Abbey (1) - Data Protection Act action. £750 compensation

Robertxc v. Abbey (2) - Data Protection Act action. £2000 compensation, default removed

 

The opinions on this post are those of Robertxc and not necessarily the opinions of the group and do not constitute sound legal advice. You are advised to seek professional legal advice.

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