dmp and bank charges

[howley]

can anyone give advice on my situation
currently in talks with payplanabout going on to a dmp
can i still try to reclaim my bank charges when two of these debts are for overdrafts over their limits but being part of the reduced payments being offered as part of the dmp and could this have a detrimental effect in that the banks could refuse a reduced payment for challenging these charges
really need help on this issue
have spoken to cab and although their are probably people in same situation they could not offer any advice as they have nothing to compare with

[Sapphire]

Re: dmp and bank charges

Hiya and welcome to the site.

Just to clarify, are you saying that you have an overdraft on an account, but the charges are more than the overdraft ?

[howley]

Re: dmp and bank charges

i have an overdraft
my charges are probably the equivalent to the overdraft in the time that i was with the bank-upto mar09 but really want to know that if trying to reclaim then would affect any payment that might be proposed under the dmp and that it might predjudice the amount that will be offered or that the bank may refuse the offer being put forward
------------------------------- merged -------------------------------
thanks for original reply

[Paule]

Re: dmp and bank charges

Personally I would get the DMP set up then go after your charges, bearing in mind that any charges you recieve 'should' be split between ALL your creditors as part of the DMP.
BUT unless you can prove financial hardship then you claim will be put on hold till the end of the test case.
If you believe you are in hardship then claim your charges BEFORE doing a DMP as being in a DMP is basically saying that you have controlled your finances by them being managed.

So first question would be: Do you consider yourself to be in financial hardship?
Have a read through this thread and think about it
Guide to Claiming Hardship - updated February 2009 - Legal Beagles

PKea

[howley]

Re: dmp and bank charges

thanks for reply
not in hardship but have just let things get out of control and see dmp as the only answer unfortunately as have always paid back any debt with no problem uo till now but still unsure if trying to claim back charges will affect dmp which in theory only works with goodwill of organisations that are affected by it

[Paule]

Re: dmp and bank charges

If that is the case get your DMP sorted as you wont see any bank charges back till the test case has been resolved.

You can send your prelim letter to the bank, or SAR to get statements if you havent got them, as you will just get an automatic letter back from the bank telling you they have logged your claim and it will be sorted on the result of the test case.

If you need any help with the claiming process just shout, but there is a guide here
Legal Beagles

[howley]

Re: dmp and bank charges

cheers-fine with claiming process as have already claimed back charges from a previously held account but will carry on looking at answers relating to my original question concerning any adverse reaction against the dmp payments

[natweststaffmember]

Re: dmp and bank charges

can anyone give advice on my situation
currently in talks with payplanabout going on to a dmp
can i still try to reclaim my bank charges when two of these debts are for overdrafts over their limits but being part of the reduced payments being offered as part of the dmp and could this have a detrimental effect in that the banks could refuse a reduced payment for challenging these charges
really need help on this issue

It doesn't have an effect on the DMP only on the way will look at any bank charges reclaim. There are very few cases where the banks are paying out on Bank Charges under the FSA Waiver when someone is in a DMP. However, the fact you are reclaiming charges should not effect the DMP or the way the bank sees the DMP

have spoken to cab and although their are probably people in same situation they could not offer any advice as they have nothing to compare with

I hope that helps

[Paule]

Re: dmp and bank charges

The only reaction that you will probably get is that they will offset any refund against what you owe.
Bear in mind that the DMP companies will not get involved with the charges claim and will agree with what the banks say most of the time, so double check everything as the DMP co.s will rubber stamp things automatically.

You will prob have the DMP set up and running before you are near getting your charges back anyway.
I have claimed back charges whilst in a DMP and had no adverse effect from the banks towards my DMP

Hope that helps

PKea

[howley]

Re: dmp and bank charges

thanks for the advice to everyone that responded especially pkea who confirmed what i had already found out from the cccs

[Paule]

Re: dmp and bank charges

Bubbles, I have moved your post to its own thread

Bubbles v Natwest (in DMP) - Legal Beagles

PKea