Do you need a parachute account?

[Perseus]

"Do i need to open up another bank account before i go ahead with my letter? or Can I send the letter off, & then open up anothe account? "

Queenvic - it would save time and potential worry.
The Banking Code, and a recent case against Alliance & Leicester should disuade Banks from retaliatory action (closing accounts etc) and although in principle it shouldn't happen - it can without too much warning. Especially if they believe that there is a breakdown in the 'relationship' or if they tell you that you have 'breached their terms and conditions'.

Probably best to apply for a new account asap, then on confirmation - send of your first letter (Subject Access Request) recorded del if poss.

JulesMA - Hi!
As stated above, it's not that common for account closures, but it has happened. If you have any reservations, best to try for a new account first - rearrange your direct debits etc, and send off your Subject Access Request. If your overdraft is equal or less to your total charges - you'll have an opportunity to clear your overdraft and it will cost you some patience, £10 for your Subject Access Request and some letters/stamps.

You'd both be well served by starting your own thread in the Bank Charges section under whichever bank you're with. That way, you can update your situation, ask for help, and receive some experienced guidance from members on here.

Wish you both well.
If in doubt ask!

Perseus

[JulesMUA]

Thanks for all your help. I'll have a closer look at your bank account list!

[scott1e]

Hi I'm a newbie to this my name is scott1e and I was woundering if I could get a reply?

[Perseus]

http://www.consumeractiongroup.co.uk...se-read-these/
This is the very first step in helping yourself, and how to ask others for help!

Welcome Scott1e - have you already posted a question before or are you just introducing yourself.

Either way - there's plenty of help on here, any questions (making sure you've checked out the Frequently Asked Questions link above) just fire away.

Would be good to start your own thread on the main 'Reclaim bank Chrges page - then other members can help and advise specifically on your situation.

All the best
Perseus

[Cornucopia]

Originally Posted by Perseus

http://www.consumeractiongroup.co.uk...se-read-these/
This is the very first step in helping yourself, and how to ask others for help!

Welcome Scott1e - have you already posted a question before or are you just introducing yourself.

Either way - there's plenty of help on here, any questions (making sure you've checked out the Frequently Asked Questions link above) just fire away.

Would be good to start your own thread on the main 'Reclaim bank Chrges page - then other members can help and advise specifically on your situation.

All the best
Perseus

P, you're a bloody star! Full of lovely and welcoming advice and giving the mods a break too!

I said I'd look and I think you have found your niche!!!

STAY PUT!!

Lots of Love, Corn x

[Perseus]

Just passing on what I've learnt from you guys on here!
Cheers for the thumbs up!
x

[make_me_happy]

Hello there,

I am new here and I am currently just about to take HSBC to court. It is a business account. Does anyone there had any experience in accounts closure after court battle (business account)?

I am a bit scared as it is a current business account and we also have a business loan secured in our home.

Any help will be appreciated.

Have a good day.

[Perseus]

Hi there make me happy...
With your case, I would highly recommend using the following link.
http://www.consumeractiongroup.co.uk...newthread&f=10
This will take you to a new thread in the HSBC Section.
Post all the info you can and what help you need. Members will be able to keep track of your thread, it's in the right place, and make sure it includes 'business' in your title.

All the best

Perseus

[scott1e]

Sorry, My Scottish name says I'm a son of a preacher and I only posted to say hello

[chancer]

Hi Perseus,

Thanks for the advice and direction. Hope you don't mind me asking 2 more questions. I'm with bank of scotland - or bank of scotland/halifax as they are know now? I have come accross the below address to post the Data Protection Act letter (1st letter requesting all the charges) to and just wondering if it is the same one you used;

HBOS PLC
Trinity Rd
HALIFAX
HX1 2RG

The £10 fee for the Data Protection Act letter, do I make it payable to Bank of Scotland or is it Halifax?

I'm also due to have more charges applied this coming week for £88.00 as I had to go my o/draft in a bit of an emergency last week. Can I call them up saying not to apply this to my account as it's an un lawfull charge and that I have a letter in the post requesting the other charges back over the years?
Or should I wait for the charges to be applied this week and then send of the letter to request the amounts taken?

Again you're help and direction is appricated.

Originally Posted by Perseus

Hi Patrick

Wish you well in your pursuits, using this site.
Don't forget, start your own thread in which ever Bank Forum here
http://www.consumeractiongroup.co.uk...group-against/ . You'll receive any help or advice needed.

All the best
Perseus

[Tigs]

i have 2 parachute accounts, because i originally applied to HBOS and was refused, so i applied to Clydesdale, then HBOS changed their mind.

But as a point to note, both of them do provide debit cards, Maestro from Clydesdale and Switch from HBOS.

[charlie10]

Hi Everyone
I know this is of the subject not sure where to post this but can someone answer me why you dont send the added on interest of 8% with the first letter, and when i do send that or if not to?
Regards

[make_me_happy]

The added interest can only be claimed once you go and file a court claim, then you can add interest to your claim total amount.

[Perseus]

Originally Posted by charlie10

Hi Everyone
I know this is of the subject not sure where to post this but can someone answer me why you dont send the added on interest of 8% with the first letter, and when i do send that or if not to?
Regards

Hi Charlie

Really - there's 2 options with attempting to claim interest on charges.
The 8% you quote is covered by s69 of the County Courts act. It is generally 'allowed' at the courts discretion as a reasonable amount of simple interest (ie one interest amount claimed on a total figure).
The reason why the 8% method is left until court is that under that act, and because it's at the courts discretion, you must apply for it as a consideration of the court when filing your claim.


Contractual compounded interest can be an amount (for example 29.9% apr) charged against you on your account (credit or bank) for unauthorised borrowing. "In the alternative" which is a phrase used when completing your N1 or MCOL claim form at court stage in your particulars of claim, If the unauthorised amount is not 'allowed' by the court, you can request consideration of the authroised borrowing rate' which may be (for example) 18% apr. Failing that, you can as a last resort request s69 interest at 8%.

The big difference is you can attempt to claim contractual compounded interest in your preliminary letter as you use a term in consideraion of 'mutuality and reciprocity in balance of fairness in contract terms' - part of the Unfair Terms of Consumer Credit Regulations . The interest applied here is - for example - 29.9% added to charges for year 1, then 29.9% added to total of charges for year 1 plus that years interest - plus 2nd years interest, year 3 is 29.9% interest added to 2nd years total plus charges for 3rd year plus 29.9% interest.

Sounds complicated, but there are some excellent spreadsheets available.
I'll supply the link;
Excel Contractual Interest Spreadsheet and a good thread with some full explanations here Excel Contractual Interest Spreadsheet .

there are others too - if you look for Vampiress - she has some excellent on site, and google spreadsheets available.

Hope this all helps!
any further q's, please ask here or PM me!

[chancer]

Hi Perseus,

Nice one for the links below for Charlie and in case I need to go to court it's handy to have them.

Originally Posted by Perseus

Hi Charlie

Really - there's 2 options with attempting to claim interest on charges.
The 8% you quote is covered by s69 of the County Courts act. It is generally 'allowed' at the courts discretion as a reasonable amount of simple interest (ie one interest amount claimed on a total figure).
The reason why the 8% method is left until court is that under that act, and because it's at the courts discretion, you must apply for it as a consideration of the court when filing your claim.


Contractual compounded interest can be an amount (for example 29.9% apr) charged against you on your account (credit or bank) for unauthorised borrowing. "In the alternative" which is a phrase used when completing your N1 or MCOL claim form at court stage in your particulars of claim, If the unauthorised amount is not 'allowed' by the court, you can request consideration of the authroised borrowing rate' which may be (for example) 18% apr. Failing that, you can as a last resort request s69 interest at 8%.

The big difference is you can attempt to claim contractual compounded interest in your preliminary letter as you use a term in consideraion of 'mutuality and reciprocity in balance of fairness in contract terms' - part of the Unfair Terms of Consumer Credit Regulations . The interest applied here is - for example - 29.9% added to charges for year 1, then 29.9% added to total of charges for year 1 plus that years interest - plus 2nd years interest, year 3 is 29.9% interest added to 2nd years total plus charges for 3rd year plus 29.9% interest.

Sounds complicated, but there are some excellent spreadsheets available.
I'll supply the link;
Excel Contractual Interest Spreadsheet and a good thread with some full explanations here Excel Contractual Interest Spreadsheet .

there are others too - if you look for Vampiress - she has some excellent on site, and google spreadsheets available.

Hope this all helps!
any further q's, please ask here or PM me!

[Perseus]

You're welcome chancer, and good luck.
There are different spreadsheets for Bank claims, and Credit Card claims.

This link is for bank claims!

Perseus