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I am in the first stages of clawing back between £2500 & £3500 of charges back from HSBC.
Looking at my online statements, I'm a little confused (I am blonde after all!), there are mentions of 'charges' and 'total charges', can I calculate both of the amounts, or are the 'total charges' the amounts that have actually been taken from my account????
Looking through, there are no obvious credits or corrections, but a lady at HSBC told me they cannot take for than £125 a month anyway? Some months, the charges were nearer £200!!!!
Can anyone guide me on this please. I would prefer to do my own calculations rather than wait for the bank to send me their sums!
with HSBC the "total charges" are worked out at £25 for each time you go overdrawn or exceed your overdraft limit, up to a maximum of 5 (ie £125) in any month. On top of that you can then be charged say £30 for an unpaid cheque or card misuse etc.
I've just spent 2 whole days working out how much HSBC have charged me since 2000 (total so far £3915!!).....
At what point do I add interest (kerching!) and how the hell do I work it out?? I know there is the calculator on here, but does it mean I have to calculate EACH charge individually, from the date each charge was applied??? That would take forever, there must be over 200 charges!!
Lynsey
pleae take a few days to read the forum well and you will get much guidance and support, there are links at the base of this post to take you directly to the list of banks where you will find answers to most of your questions.
The 8% interest is only added for court, you warn the banks of this action prior to court and only in the letter before action which is the Third template letter sent to your bank.
I have found the spreadsheet also provided on the site, so providing I painstakingly plot all the charges, it will calculate the interest for me I guess!! (trouble is I'm not much of a techno-bod!)
Halifax £2991.04
s.10 letter sent 8th August
Letter to Legal Dept sent 8th August
Reply to s.10 letter 1st September
Prelim letter posted 5th September
Prelim deadline 20th September
LBA Letter 21st Sept
N1 Form submitted 10th October
I currently have a 'managed loan' in excess of 12K with HSBC. The loan was their only way of 'helping' me afford my finances, albeit that they owe me over 4K in charges despite their 'help' in arranging the loan!!
If I have this loan, can they insist the money I claw back goes towards paying some of the loan off????? (hope not)
Halifax £2991.04
s.10 letter sent 8th August
Letter to Legal Dept sent 8th August
Reply to s.10 letter 1st September
Prelim letter posted 5th September
Prelim deadline 20th September
LBA Letter 21st Sept
N1 Form submitted 10th October
Hi lynseylou and welcome to the Consumer Action Group,
If you post your question in the HSBC forum you are likely to find that other have been in the same position as you and they will be best placed to answer your questions. If the case gets to court you will be able to ask the judge if he can order the money to be paid as cash but if you decide to settle (which it is almost certain you will do) you will have to come to some agreement with HSBC.
Either way, have a good read through the FAQ's before you start
Steve
BEFORE starting your claim read through the FAQ's and if there's something you aren't sure of then ask.
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Contents of my posts are purely my own personal opinions, some formed by personal experience and some from research. If in doubt seek qualified legal advice.
I calculated my charges initially via my internet banking (couldn't be bothered to wait for HSBC to send the pasper files out!).
I subsequently sent out the letter requesting the refund of charges (ive just also sent the lba).
Trouble is I've since received the paper copies of statements, and it turns out they owe me slightly more than I initially calculated (ony about £200). Do I write to them again as if starting the process from fresh, with the correct amount to claim, or let it roll, and mention the ammended amount if it gets to MCOL time?
Having followed all the procedures to date, I am today at the point where I can instigate my MCOL against HSBC (amount around £4000).
Despite my letters to them, I have had NO responses (except the statements thru). I stupidly added the 8% interest on when I did the charges spreadsheet (even tho this was itemised seperately), in my first request letter.
I keep seeing things on the site saying you may risk not getting charges back if you do this as it makes you look like you dont know what you're doing???? Is this really the case??
I'm really worried now. At the end of the day they still owe me loads of cash.
I am going to file the MCOL anyway, saying that they will get a week extra reprieve as I can't do it til I get paid next week!
Can anyone reassure me that I having ballsed the whole thing up?
HSBC 'charges'
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Reply With Quote
Calculating Interest
Method of payment from HSBC
(I will try to help all the same)