worked out the charges now need to work out the plan

[Empire Strikes Back]

We have now completed the Spreadsheets, these are for the two bank accounts we were running, one closed in July 2003 when it almalgamated with our other account which is still active.

The unauthorised borrowing, unpaid cheque and returned items fees for the 6 years previous to closure is £4365.00 + interest.

The account which is still active has a total for the same charges of a massive £12982.50 plus interest. The Bank insisted that we move the overdraft facility on this account over to a Loan, we were left with no choice but to go down this road, as we were told that if we did not our account would be closed and we would have to repay the total borrowing within 14 days, there was an arrangement fee of £450.00 which was added to the Loan and also taken out of our bank account, so we have paid £900.00 for a £450.00 fee, this figure is included in the spreadsheet.

Having looked over these figures etc we see that at one time over a period of three consecutive days we have been charged £340 for returned items, included in this amount was a charge of £100 with a description of "Recredited Twice", we cant find anything credited twice so are not really sure what this means, anyone out there help? :?

We have decided to go ahead and see what we can do to recover some if not all of these charges, do you think we should submit a seperate claim for each account, as the figure for the two combined would be a very large amount.

[BankFodder]

You say that you had an account which was close in 2003 and which was OD - £4365.

You say that this cloased account - that is to say the overdraft was amalgamted with your second account which is OD £12982.50.

So do I gather that the £12982,50 includes the £4365 which was consolidated into the account?

 

Secondly you say that the £4365.00 represents the charges in the 6 years up to the closing of the account in 2003. I imagibe that you are referring to the limitaion period when you refer to 6 years.

Do you understand the limitation rules? You can only claim for the 6 years prior to the date of the claim.

[Empire Strikes Back]

The figures quoted for the two accounts were the totals for all the banking charges we have incurred, not the overdraft, sorry if I confused you, I too am confused

We will recalculate the figures to six years prior to the date we put the claim in.

Do you ask for compensation as well as the charges and interest when you are claiming?

[BankFodder]

You can try and recover all disproportionate penalties which have been levied aganst your account plus any sums taken by way of interest charged on those penalties - if those penalties put you into overdraft.

 

You can claim as far back as 6 years from the date you begin your claim - meaning your court claim.

If you calim for more than £5000 then you risk going into a court procedure which is accompanied by a costs risk if you lose.

[Empire Strikes Back]

Thanks, would just like to verify if the £5000 should include the interest as part of the claim, or is the interest in addition to claim, which would make it a claim for up to £5K without the costs and interest. Sorry but must get this one right before attempting the big one. Also, in the event of losing, are the costs for larger claims likely to go above the £750 mentioned in another case on here? We are considering going for the £12K in one hit, but realise that this would incur costs, but if we won it would be worth it.

[BankFodder]

Dave is right . The figures are before interest.

If you win, it is always worth it. It is the risks of losing which you hav to consider

[Empire Strikes Back]

Thanks Bankfodder

 

Any advice out there on this one?

 

As you know we are into charges up to £17K with Lloyds, over three accounts and bad insurance on a loan. What does the team think would be the best way to get the ball rolling on this one. We have requested Statements on the third Account and had no reply yet, but we have the other two accounts already worked out. I see from other people with over £5K that advice is to split them up. We could probably do this, but it would mean doing it about 5 times, and I think maybe the court would not like it much.

 

If the team have any knowledge of how much this could cost, we might consider the big one, or even using a legal man for it. (In which case we would go for compensation for stress, worry etc as well.

 

Other option of course is to leave the overdraft to run over and then announce to them that we are not going to use the account any more and they can chase us, which would result in a court case against us. We would then put in a counterclaim, which amounts to the same as what we owe on the overdraft. So as you can see, there would be no overdraft if these charges had not been levied in the first place.

 

The more we read on here, the more we think maybe a counterclaim would be the answer, but if the charges are guaranteed to be X amount then we would be willing to take the chance. Don’t really think Lloyds would want this one going to court. Do you?

[Empire Strikes Back]

This topic was closed on 03/06/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support their.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group