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Hi - as my info on my claim is all over the place in threads ITN News etc etc the latest on this is now here. After the March airing of interview on Channel 4 the bank contacted me, they insisted that the new 'managed loan' was not missold etc and it is not settled. They stated they would pay the penalty charges claim now but only to priority debts and not to me. In the First round of arguments they wanted to use this claim money to pay the managed loan so pay themselves but I refused that. They now say they will pay two bills that I sent them and wrote to confirm this on 17 June. Since then both companies concerned have now issued warrants against me despite my sending them the copy of HSBCs letter advising the money was on its way. So, now I am stuck up the creek without a paddle.
The bank wanted me to sign papers to say that the complaint was settled in full blah blah so I signed it but wrote it was limited to the matter of the charges claim. It now looks like the bank have decided this wont do and have not paid the accounts as promised - they have also sent the loan issue to DG Solicitors for collection - bearing in mind that this loan included the penalty charges also?! I am so fed up with this.
Hiya campari, thats appalling I'm not really up to speed on true hardship claims because I just don't trust this bank and normally advise people to tie there claim up in a stay, leave the account overdrawn to a value slightly less than the claim and move bank.
I will try to get your bank to have a look at your thread as he has better knowledge of how things should work in these situations.
Have they written back confirming they won't pay it back?
I know this may not be the done thing but have you telephoned them and asked them what is happening since you have returned their form accepting that they pay your priority debtors directly(explain that you have received warrants).
Hi - no. No contact but the other companies say they do not accept third party payments - if I ring the bank I will just get a call centre person - they never give proper contact info and I was given a number before that turned out to be non-existant - I know the Banking Code says they have to give you one point of contact but the bank keeps changing it, every time you get a letter its from someone else - so annoying. I guess I'll just give it all to the DJ to look at in the end - if they take me into court - I cant afford to take them in to answer up!
What are the warrants / which companies/debts are they for?
When did you send back the acceptance ?
How much arrears do you have on the managed loan (if any) and are they paying those arrears from the hardship claim refund or just the two other bills?
Hi - sent back the acceptance early June - they responded with a 'yes' on 17 June - since then nothing. So as you see they dont like me not signing their agreement that everything is cosha (?)
Re the bills, this is British Gas £851, Council Tax £1486 together being what the bank owes me (dont know if this includes 8% interest? charges were from 2006) but is part of the managed loan that we cancelled. The managed loan is made up of a personal loan, authorised overdraft facility and Penalty Charges. The bank say they did not get our letter cancelling and were adding over a £100 a month to this new deal. We found out that it was a bad deal and they did not follow the rules etc so are confident that we can get it overturned but in the meantime theyve written and said that they have now removed the interest element and the £6k+ charge for credit on it and sent the total loan amount out for collection, this being over £13k but as our account balance includes all the penalty charges I still believe this must mean that we would be paying them back the charges they say they are paying us???? Warrants are: Liability Order from local council already obtained 29th June - BGas now have papers in court to get warrant to force prepay meter - nothing received here yet.
Liability Order on Council tax - have you contacted them and made arrangements to pay/sent your IE form back ?
BGAS - prepayment meters arent that bad just keep an eye how much they want to take off you weekly towards the debt.
Keep sorting these out yourself regardless of what HSBC have said/not said - ie pretend bank charge reclaim doesnt exist until you have money in your pocket - you can not rely or afford to rely on it.
Call HSBC again or write to them recorded to find out whats occuring with the hardship offer - also check they havent paid it to the managed loan account despite what was agreed.
The managed loan actually got implemented and repaid the overdraft & loan yes ? have you been making payments to it ?
Were the overdraft and loan totalling £13k when you took the managed loan out ? ( ie they removed interest and charge for credit already which was added on top the £13k?)
if so and that figure included the charges, you will still be liable for that amount less the charges plus interest you are claiming on them, so need to come to an arrangement on that.
Also as you have asked for the refund on hardship grounds not to be paid to the managed loan (which is where they come from and havent yet been paid) you will be liable for that portion of the managed loan on top.
Sound right?
so basically -
how much did you owe on loan and overdraft (ignoring what was/wasnt charges) when you took out managed loan ?
how much are the charges you are claiming ?
how much interest are you claiming on the charges ?
and how much have they offered you under hardship ?
Ok I think what I said above was correct based on this
Originally Posted by campari2 Take one bank account
Add charges for unpaid ddm/letter/phone call et al
Add further charge for charges taking account in overdraft
Deny refund of charges claim bycustomer
Take overdraft balance and loan and consolidate
Put new loan up to 12.7% then add over £6000 total charge for credit
Extend term of revised loan to 8 years, total now owed by customer £20,000
Add further charges and interest monthly on new balance
Ignore financial hardship status.............
So going on what you said Interest and £6k has been removed from balance leaving the original amount from loan and OD (13k) which included charges of approx £2k (from http://www.consumeractiongroup.co.uk...t-1815499.html so add interest so lets say £3k for now?) so you need to come to an arrangement on the remaining 10k and keep the reclaim in place/keep trying under hardship for the 3k charges&interest.
Hi - oooh - havent watched that clip since it first to went to air and it still irritates me - all that crap about changed circumstances, they had known from the outset that i had no work - anyway - since then HSBC closed our accounts for being dormant! HSBC then tried to claim all the penalty charges back again from us with some dodgy document and had a solicitor acting for them - they wanted to go into court and I said fine, let me know when so I can advise the news producer of the dates - since then, (last year), have heard nothing but they put a claim in online to court - it is still sitting there with our intention to defend in full.......
HSBC updated info
etc and it is not settled. They stated they would pay the penalty charges claim now but only to priority debts and not to me. In the First round of arguments they wanted to use this claim money to pay the managed loan so pay themselves but I refused that. They now say they will pay two bills that I sent them and wrote to confirm this on 17 June. Since then both companies concerned have now issued warrants against me despite my sending them the copy of HSBCs letter advising the money was on its way. So, now I am stuck up the creek without a paddle.
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if I ring the bank I will just get a call centre person - they never give proper contact info and I was given a number before that turned out to be non-existant - I know the 
