| Whilst it was bad news that the waiver on claims | | | | regular income or salary stopped. For example when |
| was extended for a further six months, the update | | | | you lose your job. |
| was tempered with the new guidance for dealing | | | | Insolvency proceedings? Have you gone bankrupt or |
| with those in financial difficulty (also known as | | | | subject to an Individual Voluntary Arrangement |
| hardship cases). The new guidance suggests that if | | | | ("IVA")? Or even a debt management plan? |
| you have received more than £500 charges in | | | | Borrowing increases? Are you living off credit and |
| one year then you can claim financial hardship - this | | | | struggling to repay it or continuing to borrow as your |
| means that the current waiver on claims does not | | | | lifestyle isn't sustainable due to debts. |
| apply to you. | | | | Do you continue to regularly go beyond your |
| There are also a number of other tests which could | | | | overdraft limit? Have you been charged more than |
| determine whether you are experiencing financial | | | | £500 in any given year? |
| difficulty. If you are experiencing any of the following | | | | If so, then it is likely that you can still claim back your |
| your bank should reconsider your claim: | | | | bank charges despite the current waiver. As we all |
| Lack of funds? Are items repeatedly being returned | | | | know the banks will not be overly forthcoming with |
| unpaid due to lack of available funds? | | | | this information and may continue to reject your |
| Failing to pay? Are you failing to make loan | | | | claim BUT do persevere since this is clear guidance |
| repayments or other commitments? | | | | from the regulatory body. |
| Money no longer coming in? Has some form of | | | | |