what constitutes hardship?

[justinfromwork]

Hi, I used to be up to my chin in trouble but these days it's only lapping around my neck. The Banks owe me loads; I'm not on the dole yet but work is now too quiet and I'm stacking up credit and borrowing money to keep afloat. From what I read the Banks wont count you as being in hardship 'til the bailiffs are about to take your kids away. any advice anyone. thanks.

[Mochamoo]

Re: what constitutes hardship?

Hi

Welcome to LB make yourself at home xx

We have a hardship section of the forum here... Hardship Claims - Legal Beagles

What bank are you with? How much do you have in charges?

but in answer to your question I pinched this from someone else

If you meet ALL or even ANY of these criteria then your Bank will have to be SYMPATHETIC and POSITIVE when considering these difficulties.

1. The firm will be sympathetic and positive when considering any financial difficulties claimed by the complainant. Firms will not subject a complainant to harassment or undue pressure when discussing their problems.

2. In making an assessment of financial difficulty the firm will take into account:

a. evidence of changes in lifestyle, including loss of employment; disability; serious illness; imprisonment; relationship breakdown; death of a partner; starting a lower paid job; parental/carer leave; and starting full-time education;

b. evidence of the following events:

i. items repeatedly being returned unpaid due to lack of available funds;
ii. failing to make loan repayments or other commitments;
iii. discontinuation of regular credits;
iv. notification of some form of insolvency or court proceedings;
v. regular requests for increased borrowing or repeated rescheduling of debts;
vi. making frequent cash withdrawals on a credit card at a non-promotional rate of interest; and
vii. repeatedly exceeding a credit card or overdraft limit without agreement (and, in this regard, where a complainant has incurred over £500 in unauthorised overdraft charges in the previous 12 months, that is to be treated as indicative of financial difficulty).

3. If during the handling of the complaint the firm becomes aware (including by notification from the complainant) that the complainant may be in, or heading towards financial difficulties, the firm will contact the complainant to outline their approach to financial difficulty cases and to encourage the customer to contact the firm if the customer is worried about their position. The firm will also provide signposts to sources of free, independent money advice.

4. The firm will make available to complainants straightforward information in plain English on the firm’s procedures and systems for dealing with customers in financial difficulty.

5. If it becomes clear to the firm that the complainant needs specialist assistance, the complainant will be referred promptly to a specialist team that deals with customers in financial difficulties, if one exists. The firm will give a phone number on all communications that will put the customer in contact with a named person or a team dedicated to dealing with cases of financial difficulty.

6. Where the firm does not have sufficient evidence to assess whether or not the complainant is in fact in financial difficulty, the firm will seek such further relevant information as is reasonably required to make that assessment. In the event that the firm reasonably requires relevant information to be provided by the complainant and the complainant does not provide the requested information within a reasonable period of time, the firm shall not be obliged to treat such a complainant as being in financial difficulty.

[TUTTSI]

Re: what constitutes hardship?

Hi

Firstly, a warm welcome to Leagal Bragles.

Have a read of this link http://legalbeagles.info/forums/showthread.php?t=10369

To be able to apply for hardship you must qualify under the FSA waiver rules. Have a read first and see if you do qualify. If you then post again with the details but without any personal stuff, then someone will be able to help you progress this further.

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