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Well nows my hubby's time to get back what is rightfully his from HSBC. I have totted up his charges, but not sure whether I can claim the the overdraft fee of £3 a day whilst my account was overdrawn. This adds up to loads so it would be useful if I could! Also, I wanted to claim the contractual rate of interest but I have some missing information Apr02 to Aug04 on the actual rates of interest charged. I have all the info for the other periods which are mainly 10.25%. Any help that you can help me with would be very much appreciated. Thanks DS
Sorry Netty, I think you missed the point, I know how the spreadsheets work. But thankyou anyway.
What I need to know is has anyone claimed contractual interest and at what rates for the 2004/5 period. I have all the rest.
i thought contractual was 15.9 or thereabouts - there are several threads with it on - just put contractual interest in the search in the blue strip above and you will get loads.
i'm sure you do know how the s/s works - but i'm with netty on this - i've never seen that figure before and i don't know where you got it. if you want to charge for the overdraft interest that has been charged on your statements - you are entitled to - but be aware of the fact that lately dg solicitors/HSBC are very mindful of people doing o/d interest incorrectly and they will challenge you on it - our advice has been and remains to be - use vampiress' advanced s/s to calculate overdraft interest. when we show that is what we have done - we get results, when we don't - they jump all over the claim - so do as you wish but i don't know anything about the £3/day issue.
The threads I’ve seen concerning contractual interest (and the CAG spreadsheets) use one rate for the whole period of the claim which seems to be the 15.9% current rate, this has always bothered me because the rate must have changed over the period of the claim (4 years in my own case).
Everyone seems happy enough to go along with this because it doesn’t appear to be being checked by anyone at HSBC or DG.
I would be very interested to know what the rates and effective dates were from 2000 to the present because I have a modified spreadsheet that could accept different rates for different periods and I would feel happier only claiming back from HSBC what they have deducted from me.
I read a lot of stuff when I looked into it and most of the threads are posted in "castlebest vs hsbc" if your interested.
The threads I’ve seen concerning contractual interest (and the CAG spreadsheets) use one rate for the whole period of the claim which seems to be the 15.9% current rate, this has always bothered me because the rate must have changed over the period of the claim (4 years in my own case).
Everyone seems happy enough to go along with this because it doesn’t appear to be being checked by anyone at HSBC or DG.
I would be very interested to know what the rates and effective dates were from 2000 to the present because I have a modified spreadsheet that could accept different rates for different periods and I would feel happier only claiming back from HSBC what they have deducted from me.
I read a lot of stuff when I looked into it and most of the threads are posted in "castlebest vs hsbc" if your interested.
pete
I could not agree with you more, and is exactly what I am trying to do exactly that, work out the correct rates.
From the bank statements I have picked up a rate of 10.25% from Aug 2004, it dropped to 10% Nov05, Sept06 10.25% and 10.50% nov06
What I do not have for some reason is the period Apr02 to Aug 04, I think I will leave this at 8% without knowing for sure. I also think that this account is a business account and not a personal account so maybe that is the reason for the difference in percentage that others are charging at 15.9%.
DS
i've never heard of a £3 per day overdraft charge - but had you mentioned that it was a business account i would have posted a link to you before!!! i'll go find it and be back soon
don't know if any of this is going to help or whether it's going over old ground but i found this.
Netty
This has been very helfull, my hubby was well pleased with all the info, and it looks like the £3 fees can be claimed in accordance with that info
so now that increases his claim.
Well prelim letter and lba sent and an offer has been made, on the business account for much less than the amount claimed, this is the rejections letter that will be posted tomoz.
BY SPECIAL DELIVERYOPEN LETTER 10th April 2007
Dear Sir
ACCOUNT:- xxxxxxxxxxx Account No:- xxxxxxxxxxxxx
Thank you for your letter dated 29th March 2007 in response to mine of 17th March 2007.
I respectfully decline your offer of settlement amounting to £1,186.00 and request, one final time, that you return to me all charges & interest imposed on this account, totalling £2,610.56, as per the attached revised schedule. Please note that interest continues to accrue on my claim until settled in full.
No doubt you will realise that extensively in recent months there has been much press comment in the media regarding banks and penalty charges imposed on customers. You will no doubt also be aware that the OFT have criticised banks too in the way in which they are dealing with their customers and the hefty charges that have been made. Many customers including myself have already taken the banks to task and have issued claims against them and have been successful in subsequent settlements prior to the Court hearing date. Some Courts have issued directions stating that proceedings ought to be settled by sensible negotiation or mediation and that the Courts will take into account the failure to follow such a course when dealing with the question of costs.
I would also state that the Courts now order upon its own initiative the Defendant i.e the Bank, in these type of proceedings to state:-
1. Whether such charge is accepted to be a penalty and if not why not.
2. If such charge is alleged to be a pre-estimate of the Defendant’s loss incurred by the Claimant’s actions (whether or not such action is treated as a breach of contract between the parties) all facts and matters intended to be relied upon as showing such was a proper estimate of such loss and all evidence to be adduced at trial as to what the true cost of dealing with the matter was.
3. If such charge is not alleged to be a pre-estimate of the Defendant’s loss incurred by the Claimant’s actions the facts and matters relied upon showing the basis upon which the charge was calculated and all evidence to be adduced at trial to show that the charge was fair and reasonable.
This letter is purely being sent to you in advance of any possible impending Court proceedings in an attempt, as the Courts have suggested, to settle this matter by sensible negotiation. Therefore, before I take any further action for recovery, I am writing to offer the Bank an opportunity to settle my claim in full without recourse to those proceedings. If proceedings were to materialise and proceed to a Court hearing then inevitably the Defendant would be compelled to supply the information at points 1, 2 and 3 above, to the Courts satisfaction, otherwise the Bank will not be successful in defending this action, and I would ask the Courts to order judgement with costs.
I would very much hope that you can deal with this matter to my satisfaction as it would also save unnecessary Court fees and costs which the Bank as Defendant would inevitably have to meet in the event of proceedings being taken and which costs would not be seen to be of benefit to the Bank’s Shareholders, should the bank lose. Also, importantly as well, the Courts time in such an action could be saved.
In view of my above comments, and if you are not able to also respond to me satisfactorily to points 1, 2 and 3 above, I request that you now expedite my claim as quickly as possible. I will allow a further period of 10 days from 12th April for this matter to be settled otherwise and without further recourse to the Bank, I shall commence recovery proceedings.
No news from HSBC (so no surprise there) - so now is the time for N! claims (separately) to be done for both Business and Personal accounts for my O/H and will be done this evening and taken by hand to the court tomorrow for the court to stamp them. It is about time they HSBC take us all seriously and not mess arround with their silly defences and delaying tatics, kowing full well that they are not even going to bother to properly defend.
DS
just a note - the template threads ask us not to spell out things like POC''s on the open forum - just so they can keep track a bit - peeps need to register to see them but don't to look on here - so could you edit your particulars off the forum, please - btw, they look fine to me. thankx
just a note - the template threads ask us not to spell out things like POC''s on the open forum - just so they can keep track a bit - peeps need to register to see them but don't to look on here - so could you edit your particulars off the forum, please - btw, they look fine to me. thankx
Latts not sure what you want me to edit! can you PM me please.
As V Hsbc
. I have totted up his charges, but not sure whether I can claim the the overdraft
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Originally Posted by Castlebest
