to think that people should shut up about their bank charges? You incurred the charges, so pay up.

[AitchTwoOh]

honestly, i've got a friend who just got £5500 back and he's off on holiday with the proceeds.

he's absolutely USELESS with money and knowingly incurred all teh charges, so why exactly does he deserve to get the money back? it's not a bloody savings account he's been paying into...

Yeah i know there has always been loans, but in them days the loans were difficult to get because you had to show you could pay it back. Now they don't want you to pay it back straight away so they can sting you on the interest.

Its what i don't understand about our society today with the whole 'have it now, pay later' thing. The worst i think are store cards and the interst rate on them, its insane that anyone would have one. I think if you can't afford to buy the clothes etc now then either save up so you can afford it or don't have it. Its the 'i need it now' attitude thats all wrong. I am not talking about people who get credit for nessisery things, its the people who spend for the sake of spending.

I read somewhere about this girl who was living at home, was £34,000 in debt and had nothing to show for it. Thats insane!

BTW it is not true about our granny's not borrowing money. The Pru man often tided over families each week until pay day. The rates of interest were punative then too. If not the Pru man, then the pawn man would gladly take your prized possessions off of you for a few days, again at high rates of interest.

The poor have always used credit to get by, the poorest week to week just to survive, the slightly less poor to cover unforseen expenditure.

BOLLOX people in past generations always 'lived within their means'.

There used to be debtor's prisons here, fgs.

Newgate, anyone?

But people in those days didn't have the life style choices like we have today. They didn't have the cars we have now, the technology or the need for constant fashion items like new clothes, shoes, etc. We are living in a meterial world now where people think that by having the latest stuff is gonna make you happy.

I don't think the loans were harder to get - as I said, if you couldn't get them formally, you got them informally with horrendous interest charges!

but I do think it is very easy to get credit now - I know of a woman I was helping who hardly had any income at all and was offered almost £20,000! I just could not see how she could EVER pay it back. I don't know what they were thinking offering her that amount!

the banks just love getting money out of people.

DH is wanting to get a new car, and get rid of the Car Finance deal he has which is pretty rubbish - he spoke to his finance company about getting another loan to pay off the current car and get a different one.

The offer they came back with (which included a bit extra to buy some carpets for the house and pay off some of our other debts) for £15,000 was £314 a MONTH....

We're currently paying off a £20k loan (from the business) for £380 a month - and over a slightly shorter time period - go figure.....

Needless to say DH told them where to go with that offer (apparently the guy who called him back sounded skeptical as he told DH the figures - obviously thought it was a rip off too but had to at least offer him it to try and get a sale).

manictigger-'Banks don't have to return the whole charge, they could retain the allowed £13 (or whatever it is) but for some reason they choose not to'

I thought that was what they did do?Have I not being reading properly?

MrsWho - my understanding (please someone correct me if I'm wrong) is that if a bank charges you £35 (when they're only really entitled to charge about £12) if you complain, they settle out of court and give you the whole £35 back rather than 35 - 12. Have I understood correctly people?

reading through this thread. Some of you are soooooo fortunate. It's nice to sit smugly in a golden tower and sneer at others misfortune. I've no doubt that there are some people are recaliming bank charges who ARE crap with money but (indeed you all seem to know them) for some of us it's just never ever been easy. When you are on a tight budget and they bounce a payment because something is nanoseconds away from clearing in your account it is bad enough - to then slap a £35 charge on top is insult to injury and leaves you struggling the next month and the next.....
I am not reclaiming my bank charges yet - but I am considering it and finger in the eye to those smug people who think I am just another feckless and irresponsible debtor - you are wrong.

When my dad left, my mum was left in a one bedroom flat with 2 kids and lived there for 7 years. She eventualy got us out of the flat and we moved 3 times until we got somewhere that she could afford to keep our head above water. She did well bringing us up and in all those years being a single parent with two kids she never had a loan, credit card or over draft meaning she never got bank charges. She was dependant on herself financially and she struggled but managed. She didn't just have herself to worry about but 2 kids. I think until your in that kind of situation like many are, you don't really know whats it like to struggle properly.

I do think the culture of borrowing is different now, I really do but then again, I imagine people have thought this many times in history!

I have not read entire thread but the banks will get their own backs on all of us by charging for banking which will hit the poorest, and also by putting up interest rates starting tomorrow. So no one wins really. First direct have started charging 10.00 per month if you don't have more than blah going in. It hasn't affected me, but it affected Dh and he is really pissed off with them.

Fio you are talking sense to deaf ears. I deserted this thread with the hump earlier.. (I expect this was obvious!) WHY must people be so judgemental about people's PERSONAL FINANCES FFS! I mean fine if they know the ins and outs of how a person spends their money.. but they know nothing of the kind, of the pressures we may be under, why we have debts and why we are forced to LIVE in our overdrafts!

Most things on MN wash over me these days.. but when people bang on virtuously about how they never get bank charges because they manage their money so well..

I'm not sure banks are exempt from responsibility. Its so easy to get a loan or new credit card, they put temptation in your path. They don't actively promote savings accounts in the same way do they?

I've just sent off my letter to the bank requesting a list of all my charges.

I used to be terrible with money but now, thanx to my sensible DP, i am much much better so deserve it all back as a reward (plus it will help with the cost of moving house and the new baby!).

UCM - agree and made the point earlier - this is the end of free banking

ajaJM.. .the tower in question is ivory I'll have you know!

(aka sorry!)