hi to all

[banksaretwats]

Hi,

I am just starting out on the bank and card charges reclaim road. I have been doing a lot of reading on this and other sites. Its amazing what can be done with the help of sites like this. I have had good results claiming meaf charges and about half of the cards have offered refunds of charges but only going back to 2006. I am currently in a dmp with debts around 38k(unsecured) so any way to reduce the debt is good. I am waiting for full details of all my accounts after sending out loads of cheques for a tenner.

Cheers

[teaboy2]

Re: hi to all

Welcome to Legal Beagles Banksaretwats (Something we all agree on)

[Bill-K]

Re: hi to all

Hi and welcome to you B.A.T !!! Although my gut agrees with you and Teaboy - I often find myself pondering over exactly WHO the real twats are, after all. By being English, British, or invited others - we seem to have allowed the banks to have made complete twats out of us all - by not having the backbone to challenge them. So - 'tis good to have you with us, challenging them.

These days, we need to separate the charges out a little, as we now have a big issue ( 'Care for a copy, guv'nor ?' ) with PPI. PPI has somewhat superseded the older penalty charges - BUT - to some extent, it can possibly support penalty charge claims.

Looks like you've sent a bunch of DSAR's out, now, though. Enjoy !!!!

.....We're here when you get your data. You may need to prioritise and focus, though. DSAR responses can be hard work, and you don't need too many of them at once !!!

[leclerc]

Re: hi to all

What is "meaf charges"? Not sure I understand the term.

[banksaretwats]

Re: hi to all

Hi leclerc,

Meafs are mortgage exit,admmin fees.

Cheers

[banksaretwats]

Re: hi to all

Hi Bill-K,

Thanks for your thoughts. I think a combination of fear and apathy have got us into this situation with the banks (i am guilty of both). I have sent my lba to Rbs but am not sure which regulation to use. I have been combing for ideas. Rbs is an aside as I think my main claims will be the credit cards who have taken me for a real ride over the years.

So far i have claimed and got....150 meaf from Helifax

195 meaf from Bristol and west

Been offered 420 Rbs visa
220 Rbs master
270 Sainsbury master
220 Cap1
CHEERS

[labman]

Re: hi to all

Firstly a big welcome to LB

Would you mind expanding on exactly how you went about reclaiming your mortgage exit admin fees? Is there specific legislation one needs to mention, or can one just write formally requesting their return?

It is something I'm looking to do, but am not exactly sure how to go about it.

Thanks!

[banksaretwats]

Re: hi to all

Firstly a big welcome to LB

Would you mind expanding on exactly how you went about reclaiming your mortgage exit admin fees? Is there specific legislation one needs to mention, or can one just write formally requesting their return?

It is something I'm looking to do, but am not exactly sure how to go about it.

Thanks!

Hi,

Thanks for the welcome.

Re reclaiming the meaf . I used a letter template from money saving expert. Halifax payed out instantly, but Bristol & West came back with the usual guff about fair & legal & noted in the agreement that was signed at the time the mortgage was taken out. I wrote back asking how they were able to forcast in the future the amount it would cost to discharge my mortgage & I would like a complete breakdown of their costs.

Got a letter back offering the complete charge.

Simples

Cheers

[labman]

Re: hi to all

Excellent, thank you. Looks like I've got to visit a site I've not been on for ages.

[Bill-K]

Re: hi to all

Thank you for your 'credentials,' B.A.T. Looking good, guv'nor !!! Good of you to share your MEAF experience here, too. Me - I just thought "meaf" was a typo !!! Daren't admit my ignorance !!! I recall we had ERC's a few years back, though. Same monster - new outfit, I reckon. "Early Redemption Charges."

The state of play with penalty charges - as I see it - is that Current Account charges are now really difficult to reclaim - although you MAY get a refund of anything over £12 per charge. But I think this has to be pursued as a goodwill exercise, and not a lawsuit.

Revolving Credit, however, may still have a chance. But again, you may only get the balance charged in excess of £12. To go further will be difficult.

The 'next generation' of claims is now becoming dependent upon the mis-selling of Payment Protection Insurance (PPI). If this applies, then there is a possibility that penalty charges might be reclaimed (as well as PPI) - IF the penalty charges can be shown to have resulted from the mis-sold PPI. We're working on it - but waiting for the FOS to respond.

Please do NOT hold your breath in anticipation !!!

[banksaretwats]

Re: hi to all

Thank you for your 'credentials,' B.A.T. Looking good, guv'nor !!! Good of you to share your MEAF experience here, too. Me - I just thought "meaf" was a typo !!! Daren't admit my ignorance !!! I recall we had ERC's a few years back, though. Same monster - new outfit, I reckon. "Early Redemption Charges."

The state of play with penalty charges - as I see it - is that Current Account charges are now really difficult to reclaim - although you MAY get a refund of anything over £12 per charge. But I think this has to be pursued as a goodwill exercise, and not a lawsuit.


Revolving Credit, however, may still have a chance. But again, you may only get the balance charged in excess of £12. To go further will be difficult.

The 'next generation' of claims is now becoming dependent upon the mis-selling of Payment Protection Insurance (PPI). If this applies, then there is a possibility that penalty charges might be reclaimed (as well as PPI) - IF the penalty charges can be shown to have resulted from the mis-sold PPI. We're working on it - but waiting for the FOS to respond.

Please do NOT hold your breath in anticipation !!!

Hi Bill-K

Thanks for your comments. I am very encouraged about reclaiming credit card charges with what I have read on this site. Dont think I have any PPI but will waite till the SAC comes back.

Cheers

[TUTTSI]

Re: hi to all

Hi and welcome to Legal Beagles,

I remember when I was on CAG Mortgage Exit fees was a definate no no, as some had been to court and lost big time, since then peeps have stayed well clear of going to court on MEAF. Sounds like you struck lucky and good on you for that.

As Labman says maybe a new approach is worth looking at again and if you could post up the style of letter you sent without your personal details we could have a look and see if there is any milage in trying this again.

Hi,

Thanks for the welcome.

Re reclaiming the meaf . I used a letter template from money saving expert. Halifax payed out instantly, but Bristol & West came back with the usual guff about fair & legal & noted in the agreement that was signed at the time the mortgage was taken out. I wrote back asking how they were able to forcast in the future the amount it would cost to discharge my mortgage & I would like a complete breakdown of their costs.

Got a letter back offering the complete charge.

Simples

Cheers

[Bill-K]

Re: hi to all

You could perhaps send in some non-specific preliminary claims, but when you get the DSAR responses, then that will probably be the best time to do this. Be aware, though, that PPI has been called all different things by the credit card guys. To identify it needs a bit of deduction, sometimes.

"A rose, by any other name, would still smell of manure...!!!"

[banksaretwats]

Re: hi to all

Hi and welcome to Legal Beagles,

I remember when I was on CAG Mortgage Exit fees was a definate no no, as some had been to court and lost big time, since then peeps have stayed well clear of going to court on MEAF. Sounds like you struck lucky and good on you for that.

As Labman says maybe a new approach is worth looking at again and if you could post up the style of letter you sent without your personal details we could have a look and see if there is any milage in trying this again.

Hi Tuttsi,

Thanks for your kind welcome,

As to the Meafs I downloaded the template letter from Money saving Expert & just took out the bits I didnt want. I didnt ask for the difference or any thing like that, just kept ot short & sweet. Halifax agreed to pay out after one letter, but Bristol & West knocked me back, so I wrote back along the lines of, I still thought that the charges were unfair, how do you know how much it is going to cost to discharge a mortgage in the future? & could you please supply a complete breakdown of the actual costs incurred to Bristol & West to actually discharge my mortgage. I didnt bother with interest. Offer letter came back for full amount.


Hope this is of use to you.

Its the credit cards I want to get stuck into. I notice that you helped Budgie with them.

Cheers

[labman]

Re: hi to all

I assume this is the one (with thanks to Money Saving Expert from where this was taken) http://www.moneysavingexpert.com/reclaim/mortgage-fees:

[Insert your name
and address]

[insert date]

[insert name
and address of bank]

Dear Sir or Madam,

Account/reference number: [insert account/reference number]
After the FSA statement on Mortgage Exit Administration Fees (MEAFs), I am writing to complain about the charge on the above account when I exited my mortgage contract with [insert name of bank].

In particular I note that the FSA stated “if a past customer who has paid a higher MEAF to exit complains, he or she can expect a refund of the difference between the actual MEAF paid on exit and the original MEAF.”

[Use this section if you know your fees or delete]
My contract with you stated a MEAF of [insert original MEAF], however, I was actually charged [insert actual MEAF]. I believe this unexpected increase does not reflect the true cost to [insert name of bank]of covering the staff and administration costs involved and I believe I have been unlawfully deprived of the money.

[Use this section if you do not know your fees or delete]
At the time I entered into my contract I believe the fee was in the region of [enter start figure of your lender from the table], however, the fee had increased to around [enter end figure of your lender from the table] by the time I closed the account.

Additionally, I have calculated interest of £[8% per year onto difference of original and actual figure], 8% has been used as this is the rate the courts use for statutory interest, and therefore ask that you repay me the amount of [insert total figure = difference + interest).

I look forward for a full response to this letter within 14 days.

Yours faithfully,

[insert your signature]

[insert your name (printed)]