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| The independent answer to your debt problems | login join |
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* Jen *
| 17-07-2007 08:24 PM |
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Joined: 17 Jul 2007 Posts: 2 | Do contiunued bank charges affect your credit rating ? Im 19 Work full time, get paid monthly , i dont manage my money very well and by the end of the month im usally broke and this is when my direct debits are. Normally my own fault i dont have enough to clear them so they charge me 30 pound if they pay it out , and then 35 pound if they decline it , which is confusing ! ! ! Ive had a few bank charges over the past two years, recent one was 90 pounds. . . Can i claim them back , i usally only go overdrawn by about 30 pounds not even that. And will my credit be bad , i dont really understand this credit thing , why do i need it ? Thanks guys . |
| DW George | 19-07-2007 04:11 PM |
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Joined: 01 May 2007 Posts: 174 My Profile | Hi Jen Bank charges can have an effect on your credit rating. If the bank charge is related to being overdrawn for a couple of days then it should not really impact on your credit rating. However, if this is extended and you are continually overdrawn and incurring charges you will find that your credit rating will be affected. Banks are not allowed to charge punitive charges. So if I were you, I would write a letter to the banks demanding that the charges are refunded. Banks can only charge the administrative costs incurred by the breach and by the looks of it the banks have been penalising you quite a lot. For more info read my article here. Hope this helps George |
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* Jen *
| 19-07-2007 07:25 PM |
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Joined: 17 Jul 2007 Posts: 2 | Thanks for that i have wrote a letter to my bank , so lets hope i hear something back soon :D |
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pixie_dust
| 27-08-2008 03:50 PM |
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Joined: 27 Aug 2008 Posts: 1 | Thanks very much for information i am in pretty much same circumstances as Jen and didn't realise banks weren't allowed to charge what they do. Thanks |
