I left the UK back in 2012 and had an open account with one of the high street banks. Two years ago (and unknown to me) this account was 60 pounds over-drawn (facility was for about 300 pounds).
I now owe 800 pounds due to a 75p per day overdraft facility charge capped at 35 pounds a month. Apparently this charge has been around "for a while" - the bank's internal agency chap wasn't able (or willing) to specify when it came about. I was unaware of this charge.
The bank collections agency expressed reason for contacting me was that since the account has been unused for 2 years the overdraft facility will be removed. Which means the debt must be reclaimed.
While I'm happy to pay off the original debt of 60 pounds, it seems unreasonable that I should have to pay off the 740 pounds of charges. They maintain that they will pass my debt off to a collections agency and mark me defaulted if I do not pay this debt.
Any advice on how to tackle this?