Excessive bank charges - anybody going to complain to their bank?

[EmmaG]

This has come up on another forum I am on. I am just going through our old bank statements and seeing how much we have paid over the years, any charges since we have done the internet banking seem to be very low but there are quite a bit for some of the previous years.

I am going to summarise all of our accounts and then right to the bank. Has anybody else done this?

[CathyW]

i had a link to a site that helps u get your charges back, ill have to find the guy whos link it was lost it :oops:

[EmmaG]

This seems like a good one, this is the forum I am using

http://www.consumeractiongroup.co.uk

Just doing the letter and summary to one of our banks which had a lot of charges on it a few years back (before internet banking and we didn't really look after the account as we should have - but one month we had £240 worth of charges!!) Total of that claim is just under £3,000 !! Going to do this one first as it is the biggest.

Strangely now we hardly have any charges on our account, internet banking seems to be good for some things :)

[EmmaG]

Well just to update this, I did two letters for my OH for the HSBC bank using the templates on the Consumer Action Group and he have had an offer of about 80% of the claim!!! I hope he will reject it and go for the full amount, but I just wanted to let people know this DOES work and could help a lot of people out. You can go back 6 years.

[CathyW]

well done to you:D

[EmmaG]

Well just had my offer from the HSBC bank, which I am going to accept :) woohoo!!!

[Fran]

Very well done Emma!! Is it a long and complicated process? How easy is it to do what you have done and how did you go about it?

[Mags]

Well done Emma!!

[EmmaG]

Fran it is very easy, 1st letter requesting refund (there are letters on the Consumer Action group webiste you use as templates) then a second letter before action, saying if they don't refund the charges within 14 days you will issue court proceedings against them (you might actually have to do this) HSBC have put offers in for both of our claims

Abbey however I suspect we will have to issue court proceeding against them, but we will get to add 8% p.a. interest to our claim at that point :)

If anybody wishes to do this and would like some help I would be happy to help anybody, just PM me.

[EmmaG]

Well HSBC has paid out now £650 and also a claim of £4,000!!!! woohoooo

[CJK]

I was thinking of this the other day, as this year alone nationwide has had over £260 in charges off me, quite a few for being LESS than a pound short of the payments they charged me for. BUt the only website I could find to help wanted £35 from me, which I thought a scam in itself.

It annoyes me how adirect debit for a fiver didnt get paid cos i was 23p short, and they charged me £30. OK,i know it was my fault for being 23p short, but the charge seems over excessive to me

[EmmaG]

CJK over the years these charges can really add up, we haven't had many for quite a few years now, but we did (obviously now looking at the figures) get charged quite a lot in the past. Just think CJ is the nationwide has had £260 this year if you have paid that sort of level of charges in the last 6 years, that is a lot of money (well so is £260!)

I don't think many people would dispute the banks having to cover the cost of administering an account when it does overdrawn but it certainly doesn't cost £35 per transaction!!!!

Looking back to 2000 with our Abbey account, they use to charge £5 for going overdrawn now it is £35!!!

[EmmaG]

The process of reclaiming the charges is fairly simple, we have got another big one (with Abbey around £4,000) and then I have got a few smaller ones to go after, but looking back over the last 6 years there is over £10,000!!! in total :shock:

[CJK]

I am just taking a look around that website you put the link to.
At first glance it looks complicated, but I'm still flicking about here and there browsing really.

I think it is a terrible amount they charge,and if so many people are successfully reclaiming charges, why dont they just lower them? As you say it doesnt cost £35 to tell you a payment was missed etc.

[EmmaG]

Also CJ is does penalize the people who perhaps are living just within their means one mistake and it can spiral into some terrible debts.

[CJK]

I had terible trouble when i was on benefits a few years back. DSS didnt tell me payment dates changed over xmas and new year. I thought they would have been fine as none were bank holidays. Cos of this five direct debits didnt get paid, so you can imagine being on beenfits, and trying to pay FIVE charges in one go, it had a knock on effect for months, cos then the next weeks direct debits werent met.
In the end I had to cancel all direct debits and try and catch up paying cash at post office. it took me months to get over it.

[EmmaG]

Are you going to have a go at getting your charges back CJ?

[CJK]

yes, I am indeed, worked it out that since may 05 (cant see online statemenets past then) it comes to £330 in charges!!!!!!

and thats just in 15 months alone.
I think it is well worth a go.

I didnt realise it was against UK law for them to charge like that though

[Az]

A dogsey member go their money back as well: http://www.dogsey.com/showthread.php?t=41262

Think I will have to look into it too!

Good luck to all of you who try :)

[rach1980]

i would like to do this , if anyone can help me please?? i have been with my bank only nearly 3 years so do i count???

[dinahsmum]

is this the site you are looking for? This is the 'money expert' who's on the new BBC 7pm show.
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

[EmmaG]

Hi Rach, yes you can claim upto 6 years back regardless if you still have the account or not, if you have only had your account for 3 years you can still get your charges back, I will email you later when I get home.

[rach1980]

cool, thank you emmag, i look forward to readin your email, thanks again, rach x

[EmmaG]

is this the site you are looking for? This is the 'money expert' who's on the new BBC 7pm show.
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

Yes that is a good site and it takes you to the consumer action group which is the group that have helped me reclaim the charges.

[EmmaG]

I have had an offer letter from Barclays after sending two letters, they have offered £300 out of a £647 claim :)

[EmmaG]

Well a member of my family approached Natwest for refund of £700 of charges, firstly they refused, but after issuing court proceedings (on Saturday) Natwest have now paid :) , I am so glad for them as they have children and money can be very tight :(

[Mags]

That's good news Emma....just goes to show you shouldn't take things for granted!

[EmmaG]

The more I think about it Mags, the more I get angry that these charges mainly penalise the people who can least afford it... my family members who have had the charges refunded, had their home repossessed a few years back (when these charges were being applied and other ones!!) they had a young baby as well.

[Mags]

It seems so unfair, all these banks seem to be the same.....heartless!! :mad:

[EmmaG]

Totally agree Mags, they are due another £3,000 odd from Natwest on another account, which I am determined to help them get back. Something really has to change with the way we pay for banking.

[alexgirl73]

Good for you Emma. I have no idea about these things. I remember a few years ago getting charhed £30 for going over my account by £5 and not being able to pay up. The charges piled up to £200 by the time I managde to get them to put a halt on it, but I had to pay that back in bits for quite a while.

[EmmaG]

It really is ridiculous Alex, how these charges can mount up. I am totally for the banks covering their charges but extortionate amounts for going just a few £'s overdrawn is just terrible.

I only have a claim with Barclays and Abbey left going through the courts now. The Abbey claim is now going to a case management hearing in December :) They have stated that they will be using a forensic accountant for an expert report if we go to a full hearing, I wonder if they know I work for an accountants!!!! lol

[EmmaG]

They are using these tactics just to scare people into not attending any court hearings!!! They might get a bit of a shock when I turn up!!! lol

[EmmaG]

There is a program on BB2 tonight called Bank Robbery 10pm, I will be watching with interest ;)

http://news.bbc.co.uk/1/hi/business/6169539.stm

[dinahsmum]

and here's another link with instructions on how to make a claim. Alex - why don't you give it a whirl? http://news.bbc.co.uk/1/hi/business/6170209.stm

[Kazz]

Interesting thread may look into it, not sure I've ever been charged anything like any big amounts though but will look into it.

[EmmaG]

Well I had two claims outstanding, one was heard in court today (that is where I have been this morning) for a case management hearing, Abbey didn't turn up but they faxed over to the courts yesterday confirmation that they will NOT be defending my claim (which is for about £3,500) and they are going to pay me. The Judge was lovely and told me that he would adjourn the hearing for a month and if Abbey hadn't paid by then he would reopen the case. He wasn't very happy that they hadn't contacted me (his copy letter was dated 11th Dec) and I said that perhaps the letter was waiting for me when I got home (it wasn't)

My last claim (Barclays) have just phoned to say that they are going to settle (this is after I have sent 70 pages of evidence which included previous cases which constituted penalty charges) once I have accepted money will be in my account within 48 hours, they are panicing a bit as my court hearing is for 2nd Jan ;)

I hope this will give anybody who is thinking about getting their charges back encouragement to do so.

[EmmaG]

Just totalled up all of our claims which come to £10,500 :shock: I am surprised looking back at some months that we didn't go bankrupt

[Kazz]

Okay can I ask what are you classing as charges? I have gone back through a years statements and only have a total of £72.98 am I missing something how do you get these amounts?

[EmmaG]

lol I think you must have better money management than me and my OH Kazz ;)

The charges all relate to going overdrawn, bouncing cheques, card missuse fees, unauthorised overdraft.

It sounds as if we were really bad, but as an example one month we went overdrawn with Abbey for a few £s and we had £241 worth of charges in a week because of one item, when we realised and paid some money in (to cover the charges and get the account back in credit, it was too late and they had already been charged)

[Kazz]

See two unpaid D/D charges of £35 - then the other is made up of 3 overdraft interest charges of 96p each.....Will look back further and see what I can find.

[Fran]

Emma, over the years my hubby and I have had some charges like these. What is the first step to recoupering the losses and how can you calculate exactly what the losses are? We have thought about trying to claim them but have been put off in case it is really difficult and we really wouldn't know where to start. Being in a much better postion financially these days, it is easier to think 'oh let it go' but if it is possible to recouperate the money then surely it would be better in our pocket than theirs?

[EmmaG]

Fran, first course of action is to see if you have got your bank statements (also credit card statements if you have had charges on these as well) then you need to send to the bank a letter asking for the charges back together with a list of the charges and the dates, if they haven't paid up after 14 days you send another letter (letter before action) requesting that they refund charges or you will take them to court, if they haven't paid up by the 14th day (or you haven't come to an agreement) then you issue court proceedings (you can do this on line) when you issue court proceedings you can add 8% court interest (there is a spreadsheet on the Consumer Action Group website to calculate out the interest as it is 8% from the date of the charge - OH's sister has just done a claim for £6,000 and the interest is over £1,000!!!)

First letter can be found here

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/671-2-letter-preliminary-approach.html

Second letter can be found here

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/92-3-letter-before-action.html

It would be best to join the Consumer Action group and post a thread about your claim and other members will help if you have any queries, they are excellent on there!!!

[Kazz]

Go for it Fran I hope you find more than £72.98 though.

[Fran]

Thanks for that Emma, I know you can claim charges for around 6 years back is that correct? What happens if you don't have all the statements? Is there any other way of finding out exactly what you have been charged over the years?

[Fran]

Go for it Fran I hope you find more than £72.98 though.

I have a feeling that it might be a little more than that amount Kazz ;) :lol:

[EmmaG]

Fran if you are with the HSBC and have internet banking you can download your statements. If you do not have all of your statements (you can go back 6 years and there is some argument being raised at the moment that it would be possible to go back further if you had proof - but perhaps just best to stick to 6 years ;) )

If you do not have all of your statements you can request them and send a cheque for £10 to cover the admin fee

Letter to request statements here

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

[Fran]

Thank you Emma, we have banked with HSBC but not online and also have an account with the Hailfax.. I'll write to them requesting the statements and send them the cheque... Thank you so much for your help. Have you any idea how the Halifax and HSBC deal with these sort of claims?

[EmmaG]

Not sure about the Halifax, but HSBC will deal with them quite quickly, our three claims with HSBC which were started on 27th June were paid on 18th August.

You might have to wait the 40 days for your statements though.

[EmmaG]

Well Barclays and Abbey have both paid the claims today :)

[Mags]

Brilliant news Emma! :D

[alexgirl73]

well done you!!!

[Fran]

Well Barclays and Abbey have both paid the claims today :)

Excellent news Emma!!!

[EmmaG]

Thanks, very tempted to go shopping in the January sales, but we are going to get our fence for our garden and some new windows next year, the remaining amount will go into Premium Bonds ;)

[EmmaG]

This is an article from the Daily Mail :)

Customer sends bailiffs in to seize bank's computers

Last updated at 23:55pm on 19th January 2007

Declan Purcell: Striking a blow for the customer




A man who was fed up with paying massive bank charges decided to give one of the high street giants a taste of its own medicine.
When Royal Bank of Scotland refused to refund £3,400 charges that Declan Purcell believed he was owed, he sent in the bailiffs.
Stunned customers at his branch of RBS watched as debt collectors seized four computers, two fax machines and a till filled with cash.
The branch manager was told that the items would be sold unless RBS came up with the money owed to Mr Purcell.
Only when the manager gave an undertaking that the debt would be paid did the bailiffs leave.
Mr Purcell said: "I think the bank was pretty shocked when the bailiffs went in. But my view is that this is exactly what they would have done to me."
The move, which will raise a cheer from millions of other bank customers, is part of a consumer fightback against bank charges, which net an estimated £4.5 billion every year.
Every time a current account customer goes overdrawn by as little as £1 most banks will charge around £28, even though the administration cost is only about £4.50.
Then every cheque, direct debit, or card transaction that goes through or is bounced incurs another charge of up to £38.
The Office of Fair Trading is investigating whether banks have implemented these charges unlawfully.
The Daily Mail's Fair Play on Charges campaign and that run by the Consumer Action Group have helped thousands reclaim charges in the past year.
Like other customers Mr Purcell, 48, from East London, had warned his bank that he was prepared to go to court to claim back charges he believes were imposed unlawfully.
In June last year he demanded the refund of £3,400 charges he accrued during the previous six years while running a motorcycle dealership.
RBS ignored the claim so in October Mr Purcell filed an online application to get the money back through the county court.
After 30 days the bank had not responded and so on December 10 the court ruled in Mr Purcell's favour.
It ordered RBS to pay the charges and £120 court costs. When RBS again failed to respond Mr Purcell got the court to give him a warrant of execution, allowing him to order debt collectors to reclaim items from the bank equal in value to the amount he was owed.
Finally on Monday, January 8, a team of debt collectors walked into the busy Camden Town branch in North London, demanded to see the manager, showed their court order and announced that they were repossessing items.
Mr Purcell, who now works for London Underground, said: "I was dismayed by the bank's reaction when I made my claim for a refund – it was so rude and arrogant.
"They thought they were above the law, so it is great to know that customers can use the law in the same way the bank does to get money they are owed."
A spokesman for RBS said: "We are looking into this as a matter of urgency, but early indications suggest that unfortunately due to an administrative error, the bank failed to defend the claim leading to a default judgment being obtained on the branch and a resulting warrant.
"The confusion was cleared up at the branch."
Marc Gander, who set up campaign website Consumer Action Group, which helps consumers get refunds from their banks, said: "I am quite sure that Mr Purcell will not be the last person to send bailiffs in to his bank.
"The continued operation by UK high street banks of their unlawful charges regimes will see to that. "The heavy-handed debt collecting approach is something that the banks have been handing out to their customers for years. Mr Purcell simply gave them a bit of their own back."

[jenny]

im so glad this was posted cos i was on the fence after numerous people assured me the bank could do what they want as its the contract.

anyway, ive had 6 yrs worth of bank statements sitting in my drawer since probably october last year. think its time to start highlighting!

will do the same for my OH's bank too as he is charged ridiculous amounts of money!

[Samz5]

lol @ sending the bailiffs in :D

My B/f got a cheque for £499 a few months ago for his unfair bank charges, its worth doing.

[jenny]

well i sent my bank a letter a few weeks ago to claim £900 back. they have today offered to pay me a £550 refund :D havent decided if i will take them to court for the last £350, seems like too much hassle. what do u think?

[dinahsmum]

well i sent my bank a letter a few weeks ago to claim £900 back. they have today offered to pay me a £550 refund :D havent decided if i will take them to court for the last £350, seems like too much hassle. what do u think?
How about a response along the lines of "I am minded to continue my pursuit of this claim, which I believe is quite legitimate and should be addressed. However, to save both parties time and yourselves the expense of court procedings I would be willing to accept a full and final settlement of £750" (or whatever figure)
That's if you would, of course. Think I might hang out for the full amount - after all you won't lose the £550 going for £900 - just delay it.

[Fran]

At least you have an offer Jenny, well done for that! Emma might be able to offer you some advice on what to do next when she comes on.


Right, I am definitely going to do it. I need to get bank statements from my bank. Does anyone have or know where I can get a draft copy of the letter I need to send (I don't want to jepardise my chances by getting the letter wrong) and is it £10 to the bank to get these statements?

Thanks for your help

[jenny]

heres the link

http://news.bbc.co.uk/1/hi/business/6170209.stm

and my bank sent me the statements for free.

[Fran]

Thank you for that Jenny, I'll take a look at the link now and I'll let you know how I get on x


Hmm, it says to phone them to request statements but I don't really want to phone them. Can you do it in writing?

[charliebubs]

I've never read this thread properly before, but it's amazing!! I'm definitely getting my bank statements tonight and writing to my bank. Maybe I'll get some money back in time for my holiday!!! :)

[Fran]

Hmmm it says to phone them to request statements. I'd rather do it in writing tbh, is this possible?

[Jac]

Yes it is. When I worked in the bank the only way to get statments were to either do it on line or in writting. That way the bank was sure it was infact you that wanted them.
Some banks charge for them others dont.

[Fran]

Thanks Jac, I'll draft up a letter this evening

[charliebubs]

Hmmm it says to phone them to request statements. I'd rather do it in writing tbh, is this possible?

Fran, I've just been reading on that Comsumer Action Group website that with my bank (First Direct / HBSC) if you ring up they say that you have to pay £10 per statement, but if you write to them you seem to get them for free!! So a letter may be the way to go.

I've just printed off all the statements I can get online, which go back to 2004 and at first glance I can see at least a couple of hundred pounds in charges.

I hope there isn't a minimum that you can claim for? I can't see anywhere that it says so.

A couple of hundred quid to me is worth the claim!!!! :)

Good luck to you too Fran.

[CJK]

I did mine with one acount, got £670 back, just waiting to hear about my second one. Wouldnt have known about it without this thread

[charliebubs]

I did mine with one acount, got £670 back, just waiting to hear about my second one. Wouldnt have known about it without this thread

Me neither CJK!!

Thank goodness for EmmaG!!!! :-D :-D :-D

[smudgley]

.......... this thread is certainly very interesting reading.

[alexgirl73]

I'd love to check and see if I could claim some money bcak, but I never keep any of my statements as it's just a very basic bank account. Will check my next one when it comes in to see if it's worthwhile getting copies of my old ones sent!

[charliebubs]

Does anyone know if this applies to business bank accounts as well? I've just been telling my dad about it and he has his own business and says that he's always getting stung with charges.

[jenny]

hi charliebubs, i think its any account. they arent legally allowed to charge u any more than administrations costs. so they cant charge you £30 a time for example.

[EmmaG]

Hmmm it says to phone them to request statements. I'd rather do it in writing tbh, is this possible?

Fran,

Dont phone them, everything needs to be in writing...I will find the letters you need and post them up later.

[EmmaG]

Does anyone know if this applies to business bank accounts as well? I've just been telling my dad about it and he has his own business and says that he's always getting stung with charges.

Yes business bank accounts can claim their unfair charges.

[EmmaG]

There is also no minimum amount you can claim back, one say £25 charge. I think some of the largest claims going through at the moment are in the region of £20,000

[EmmaG]

Ok Fran,

You need to click on this link.....

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/

all of the letters are in the correct order, so to ask for your statements you will need letter 1 Data Protection Act - Subject Access Request.

[Fran]

Thank you Emma, going to have a look now ;)

[Fran]

Emma...what does this mean? where do I send this letter??

Send this request including the £10 fee to the address which your bank has registered with the Data Protection Commissioner as the address of the Data Controller:-

[jenny]

hi emma, do u think its worth taking them to court to reclaim the full amount? should i accept their offer? or is there another letter i can write now?

[EmmaG]

Jenny I wouldn't accept their offer as full payment, only as part payment, if you want the full amount you will get it.

Fran, which bank are you claiming against and I will find the address for you.

[Fran]

Fran, which bank are you claiming against and I will find the address for you.

Thank you so much for your help Emma, it's the Halifax...

[EmmaG]

Here you go Fran.

Halifax Plc
Trinity Road
Halifax
West Yorkshire
HX1 2RG

Data Protection Act 1998
Subject Access Request
Dear Sir/Madam

ACCOUNT NUMBER: XXXXXXXXX



Please supply me with a complete list of transactions and charges relating to my banking history with your organisation. Alternatively, a complete set of statements for that period will be acceptable.

Additionally, where there has been any event in my account history over this period which has required manual intervention by any member of your staff, or any other person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my banking business with you.

If you are unable to supply this data because there has been no such manual intervention, then please be so kind as to confirm this in your response.

I enclose the statutory maximum fee of £10. You have 40 days in which to comply. Furthermore, if I discover that you have levied disproportionate penalties against me, then I shall be reclaiming them, and also reclaiming the enclosed £10 Data Protection Act subject access request fee.

If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.

Yours faithfully,

[EmmaG]

Thank you so much for your help Emma, it's the Halifax...
It is a pleasure Fran ;)

[EmmaG]

hi charliebubs, i think its any account. they arent legally allowed to charge u any more than administrations costs. so they cant charge you £30 a time for example.

Spot on Jenny, to levy the charges they need to prove that they cover their costs....which they can't (or wont) :roll: :-D

[Fran]

It is a pleasure Fran ;)

I can't thank you enough Emma! I have so wanted to do this for ages now but have worried I might not do it right / didn't really know what I was doing. I have heard of so many success stories recently that I thought I ought to seriously consider doing it myself. Without your help Emma, I would probably not have bothered, so thank you and I'll let you know how things go x

[EmmaG]

No problem Fran, I think everybody either doesn't believe that it will work or are worried by what the banks can do.

If you need any help just shout, that also goes for anybody else who would like some help ;)

[jenny]

hi emma, i cant find a template letter for refusing an offer? they havent given me the money, only offered to put it in my bank.
what do i need to write?

[charliebubs]

I can't thank you enough Emma! I have so wanted to do this for ages now but have worried I might not do it right / didn't really know what I was doing. I have heard of so many success stories recently that I thought I ought to seriously consider doing it myself. Without your help Emma, I would probably not have bothered, so thank you and I'll let you know how things go x

I'll second that - a big thank you to Emma!!!!! :-D :lol: ;)

[EmmaG]

here you go Jenny, something like this


Dear sirs,

Thank you for your letter dated XXXXXXXXXXX

I will accept your offer of £XXX as PART payment ONLY and I will continue to pursue you for the remaining of my claim which totals £XXXX. Failure to refund these charges to me IN FULL by XXXXXXXX will leave me with no alternative than to pursue my whole claim, including interest, through the courts.

Yours faithfully

[EmmaG]

I'll second that - a big thank you to Emma!!!!! :-D :lol: ;)

I think most of the thanks really needs to go to the Consumer Action Group as I have learnt so much about these types of charges and also about other debts etc.

Do you know that a credit card debt/loan cannot be enforced if the company you have the agreement with cannot supply a copy of the original credit agreement signed by yourself?

[charliebubs]

But we wouldn't know if you hadn't posted on here.......so a big thank you for that, if nothing else!!!! :)

That's interesting about the loan/credit cards. Maybe I'll call my loan company and ask for a copy of the credit agreement and see if they can supply it!!! lol

:)

[Fran]

I think most of the thanks really needs to go to the Consumer Action Group as I have learnt so much about these types of charges and also about other debts etc.

Do you know that a credit card debt/loan cannot be enforced if the company you have the agreement with cannot supply a copy of the original credit agreement signed by yourself?


I knew this was the case for Catalogue home shopping companies but didn't realise it was the case for all debt/loan type agreements.

[EmmaG]

Charlie you need to write a certain letter which gives them 12 WORKING days to produce the agreement after this time if they have not you can stop the payments and after a 40 further days if they haven't produced the agreement they have comitted a criminal offence and the debt becomes unenforceable. I have seen people on the Consumer Action Group actually getting refunded back all of the money they have paid to a loan because the company could not produce the agreement.

Makes for interesting reading

[EmmaG]

I knew this was the case for Catalogue home shopping companies but didn't realise it was the case for all debt/loan type agreements.

Fran it applies to any loan/credit agreement, although secured loans (on cars and houses) are a little different.

[charliebubs]

Charlie you need to write a certain letter which gives them 12 WORKING days to produce the agreement after this time if they have not you can stop the payments and after a 40 further days if they haven't produced the agreement they have comitted a criminal offence and the debt becomes unenforceable. I have seen people on the Consumer Action Group actually getting refunded back all of the money they have paid to a loan because the company could not produce the agreement.

Makes for interesting reading

OMG!! That really is amazing Emma. I shall have a look into that too!! One thing at a time though!! :-D

[EmmaG]

It can be worth doing Charlie, thanks to the Consumer Action Group as well as having £10,000 refunded back to us, for me out of 7 (comprising of loans, credit cards, store cards etc) I had with balances on all but one has either been paid off or they cannot provide the agreement, so but debts have gone from 7 payments to 1 ;)

[Fran]

So Emma, am I correct in thinking that if a credit card company cannot supply you with the original signed agreement by you then the debt can become null and void? :shock:

[EmmaG]

You have got it Fran. They would have to take you to Court and get a court to decide that you should pay the debt, however as they have comitted a criminal offence by obtaining money without the agreement it would be very unlikely that they would go down that route. Basically by not having the signed agreement they are in more trouble than you would be if you didn't pay the instalments.

Also they could lose their credit licence.

[EmmaG]

I have disputed two of my debts in July, (two barclaycards) and I have heard nothing from them, so I stopped payments, if they have put any defaults on my credit record, by law they must remove them.