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managed loan refusal to pay, should i still send an lba letter (managed loans)
just got a standard letter i think from HSBC.
i applied for a refund of managed loan interest as i would not have needed the loans if it was not for the bank charges they applied (which they refunded)
the letter says they are not responsible and will not offer a refund.
it has taken them 3 weeks to reply to prelim letter, but i could not send lba as i have been offline.
should i carry on and send a lba??
i heard on my local radio they will say anything to stop you trying to get money from them and to also hold on to any money??
any help apprecited, hasd anyone won regarding managed loans??
Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
They will try to get out of this, obviously, but it is important to remember that a loan is an individually negotiated contract, rather than the 'one size fits all' contracts applicable to bank accounts.
You say that they have refunded the penalty charges - were these roughly equal to the overdraft you had, and therefore similar to the value of the loan? If so, and by implication, then the loan was a necessity caused by the penalty charges, and probably unnecessary.
If you can demonstrate this, on the balance of probability, then you should send the lba. If the loan was caused by your own spending, and your own overdraft, then you will have a tougher job claiming back the interest.
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All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
hi managed loans are seperate yes on to next stage shout if you need help.
WHEN THE WORLD GETS IN MY FACE I SAY HAVE A NICE DAY
MY SUCCESSESS HSBC£5,735.35 MUM IN LAW £2112.00 WIN FROM HALIFAX :grin: MUM £3580.00 WIN FROM NatWest :grin: AUNTIE 2 NATWEST WINS £1865.00 AND £2541.00 EQUITA BAILIFFS £293.00 REFUND :grin: MBNA £871.16 WON WITH CI AT 24.49% WELCOME FINANCE CHARGES £600 APPROX didnt even need letter lol CAP ONE WON WITH CI AT 29.9% £994.26
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Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
Originally Posted by kurjam
just got a standard letter i think from HSBC.
i applied for a refund of managed loan interest as i would not have needed the loans if it was not for the bank charges they applied (which they refunded)
the letter says they are not responsible and will not offer a refund.
it has taken them 3 weeks to reply to prelim letter, but i could not send lba as i have been offline.
should i carry on and send a lba??
i heard on my local radio they will say anything to stop you trying to get money from them and to also hold on to any money??
any help apprecited, hasd anyone won regarding managed loans??
I put the proportion of interest that related to charges in my claim - have yu done this or are you asking for all the interest back?
Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
i have moved house so not carried on with this claim, i wanted to claim back the managed loan as without the charges they applied to my account i believe i would not have needed the loan....
they settled my charges claimof £1800 sent the managed loan claim and have had a reply saying they are not responsible and the £1800 was a gesture of good will ((ha !!)) and that it was a final agreement for my banking with them..
should i procede as they have had letter and lba or am i wasting my time and money !!!
should i just claim back any interest on the loan??
but i dont have any paper work for the loan as i left HSBC 4 years ago and did not think i would need it again !!
any help much appreciated...
Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
Originally Posted by kurjam
i have moved house so not carried on with this claim, i wanted to claim back the managed loan as without the charges they applied to my account i believe i would not have needed the loan....
they settled my charges claimof £1800 sent the managed loan claim and have had a reply saying they are not responsible and the £1800 was a gesture of good will ((ha !!)) and that it was a final agreement for my banking with them..
should i procede as they have had letter and lba or am i wasting my time and money !!!
should i just claim back any interest on the loan??
but i dont have any paper work for the loan as i left HSBC 4 years ago and did not think i would need it again !!
any help much appreciated...
Did you sign any agreement when you accepted £1800
Re: managed loan refusal to pay, should i still send an lba letter (managed loans)
yes i did, because my loans come under a different account number....
i am thinking i might just start again but just apply for interest on the loans as another thread as advised..
managed loan refusal to pay, should i still send an lba letter (managed loans)
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Originally Posted by kurjam
