Hi Tessy,

Site Team needs to review events to date properly before you proceed further on your friends behalf.

So please wait before taking court action or doing anything further for now. One of us will post over the next few days.

Thanks

Thank you slick and Citizenb. I shall wait for more info !

Hi Tessy,

In my opinion, this case is NOT suited for court action - at least not at this stage.

If the bank has not replied satisfactorily to your first letter and your LBA,, your next move is to lodge a formal complaint to the FOS, as you said in the letter in post #21 above.

I think you are being overly optimistic in seeking a refund now of charges back to 2009. Neither the bank, nor the FOS, will agree that you're entitled to this.

When did you first complain to the bank that you were in Financial Difficulty, or ask them to stop adding interest and/or default charges.

Hi Slick,

The first letter was sent on 27th of April, followed by lba on 18th of May and they have not replied to lba to date.

Also, could you check the SOC below. I am right at claiming that interest. Thank you for your assistance

Hi Tessy,

As I've said above, I doubt you'll get charges back anything like as far back as your trying for.

This is a simple interest spready and, if you get awarded any charges back, I doubt the FOS will award anything in excess of simple 8% int't.

Can you answer the Q in the last paragraph of my last post ?

Hi Slick,

I have answered your Q. I said ''The first letter was sent on 27th of April, followed by lba on 18th of May and they have not replied to lba to date'' or do you a mean a different question.

Also, with regards to the interest. Should I remove the interest of 19.9% on the spreadsheet. Then multiply actual amount by 8 and divide by 100 in other to get the 8%. Lastly, how far can I claim.

Thank you

Thanks Tessy,

So are you saying there were default charges incurred from 2007 onwards, you want to reclaim from 2009 onwards and the first time you have made the bank aware of Financial Hardship was in the Prelim letter sent in April 2015 ?

I doubt you would get any more than 8% simple interest. You can alter the spready by just changing the rate from 19.9% to 8%.

Are you still considering court action or will you go to the FOS ?

Yes, you are absolutely correct with the first line .

I have advice my friend to lets logde the complaint with fos as you earlier advised.

Lastly, I would changed the rate on the spread to 8%.

When I fill in the fos form , do I send the spready to them as well and how do I quote the bcobs law on the form. Also since we have already sent the wrong spread to HSBC, should we sent an lba again along with the corrected spread or just ignore. Thank you

Hi Tessy,

In post #15, NetteNoDosh referred to a good guide on the subject of reclaiming on hardship grounds. It's here and is well worth reading - http://www.moneysavingexpert.com/reclaim/bank-charges#step1

I would amend the spready to reflect 8% int't and send this to the FOS confirming that the bank has failed to reply to your letters requesting a refund. You can tell the FOS you originally claimed int't at the a/c's o/draft rate of 19.9% but are now willing to accept 8% as per the enclosed spready.

You can also enclose copies of the 2 letters sent to the bank.

I have read the Money Expert Forum and understood the process. Thank you so much . I have changed the spready to 8% and will be filling the fos form this weekend.

you shouldn't be now using that spreadsheet

paste the info into the statint sheet

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

Thx dx. Will amend that asap.

Hi Dx, Please the Statint sheet you refer me to is not opening. can anyone direct me elsewhere. Thanks in advance

if its coming down as a .php file

click save as and rename it to statint.xls

dx

My friend has now received final response from FOS and they have said HSBC Charges were right and lawful according to the agreement signed.

What do we do next on this. Thank you

What did the FOS say about the issue of hardship, or Financial Difficulty ?

Hi Slick, below is their reply.

Hi Tessy,

The FOS has replied much as I'd expect. See my post #28.

The Lending Code directs the banks to assist folk in present Financial Difficulty where credit is involved, but does not oblige them to refund charges from the past.

I think the best way forward here is to establish current Financial Difficulty and ask the bank to :-

1. Stop adding interest on lending.

2. Stop adding penalty charges.

3. Refund penalty charges incurred since you first raised the complaint earlier this year.

Thanks slick. The fact is that the account still gets overdrawn every month and even was still charged a whooping £80 around march 2015 even when the bank had earlier been informed late last year though was not followed up. Hsbc requested that she should call to discuss it further as they believe she wasnt going through hardship but for she didnt call until i submitted this current claim for her.

What do you suggest in this case. Thank you

Tessy I have moved your thread to the HSBC forum as this is an intended claim and not a claim being made against you by the creditor.

Regards

Andy

Hi Andyorch. Does it mean I will get more response here !

Hi Andyorch. Does it mean I will get more response here !

The same...but your thread was in the wrong forum...this is the dedicated HSBC forum were claims are placed.

Hi Tessy,

I assume the I&E forms were supplied to the bank last year but you or YF did not discuss the matter with them by phone.

You don't HAVE to discuss this with the bank by phone. We suggest you avoid this and keep all comm'ns in writing.

Did the I&E forms suggest YF was in Financial Difficulty. If so, was the FD very obvious from the figures or was it perhaps borderline.

The I&E was completed this year and my Friend avoided speaking with them on phone. Last year, hsbc advised that she was not eligible for a claim of hardship.

On the I&E Form.

Total is £2488.31

Income is £1800 AND Overdraft limit is £600.

Do you mean outgoings were £2488 ?

What is the disposable income left after paying for necessities, to cover all debts owed to creditors.

Have you sought advice from the likes of National Debtline, to see if they consider YF to be in FD.

You need to establish hardship if it applies and get the bank to stop adding charges and interest, even if the bank has tried to say FD is not applicable. This needs to be done in writing.