Building Society Charges

[Myriad2112]

Last month I wrote 5 small cheaques totaling around 50 pounds. Due to the lack of funds the building society bounced the cheques and are charging me one hundred and eighty pounds in charges. Next month my mortgage will bounce. Is there any quick and efficient way of appealing against this as going to a small claims court would take months and I need to sort it out before I get in a bigger mess.

[WendyS]

You might find it helpful to go to:
http://www.moneysavingexpert.com/reclaim/bank- charges

which will explain the up-to-date situation regarding people who are claiming back high bank charges. From this it would appear that all claims are currently on hold depending the outcome of a Court case.

In the meantime I can only suggest that you talk to your mortgage provider very quickly about the state of your mortgage , rather than letting the situation go by default. Perhaps they would allow you a payment holiday, paying interest only, or allow you to extend the mortgage term which would bring your mortgage payments down to a more manageable amount evey month. Whatever you do, be pro-active in trying to stay on top of the situation.

[Myriad2112]

Thankyou Wendy,
That's the sort of advice I needed
Mx

[PrinceRainie]

Although I disagree totally with the amount you were charged by the building society for the bounced cheques...your question does indicate that you probably knew that the cheques would bounce due to there being insufficient funds.
Therefore you knew you were goin to be charged a stupid amount of money so why do it in the first place!!!!!! .

[Myriad2112]

Hi Prince,

I did suspect that it would be tight but I also thought that like the banks I used to use, the building society would allow my accoount to go into the red for a few days and charged me a small unauthorised o/d which I figured would be cheaper than late charges with the credit card people. How wrong I was ...