Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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Results 41 to 53 of 53
  1. #41

    Default Re: Claiming under Financial Hardship from HSBC

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



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  2. #42

    Default Re: Claiming under Financial Hardship from HSBC

    Hi Slick, below is their reply.

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  3. #43

    Default Re: Claiming under Financial Hardship from HSBC

    Hi Tessy,

    The fosicon 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.



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  4. #44

    Default Re: Claiming under Financial Hardship from HSBC

    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


  5. #45

    Default Re: Claiming under Financial Hardship from HSBC

    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

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  6. #46

    Default Re: Claiming under Financial Hardship from HSBC

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


  7. #47

    Default Re: Claiming under Financial Hardship from HSBC

    Quote Originally Posted by Tessy1 View Post
    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.

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  8. #48

    Default Re: Claiming under Financial Hardship from HSBC

    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.



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  9. #49

    Default Re: Claiming under Financial Hardship from HSBC

    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.


  10. #50

    Default Re: Claiming under Financial Hardship from HSBC

    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.



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  11. #51

    Default Re: Claiming under Financial Hardship from HSBC

    Yes outgoing is 2488. Disposable income is nil as she often use her credit cards to support to balance up every month and the bank is aware of this.


    The bank had said it that FD is not applicable in their letter last year but she lodge it with the Ombudsmanicon this year.


    If this seems to be difficult to claim, can she reclaim the 80 that was charge around May 2015 SINCE she already informed hsbc of her financial difficulty though they said she was not eligible to FD claim last year but do they still have the right to continue to charge her.


  12. #52

    Default Re: Claiming under Financial Hardship from HSBC

    Hi Tessy,

    I've been giving this more thought and think you should go back to the FOS and ask for a review by an Ombudsmanicon.

    Firstly, send the FOS an email immediately confirming that you intend to seek a review and will write further within 7 days

    You could complain that :-

    1. The Adjudicator refers to the bank's suggestion that the charges were properly applied according to the Supreme Court ruling on bank account charges and acknowledges the bank issued an Income and Expenditure Budget Planner.

    2. The Adjudicator confirms the bank received the Budget Planner but notes that you "didn't get in touch" with the bank.

    3. Even if the bank considered the older default charges to be properly applied at the time, the Budget Planner surely disclosed ongoing Financial Difficulty.

    4. The bank had an obligation under The Lending Code to recognise a customer in Financial Difficulty. Section 224 says, "Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties."

    5. The Adjudicator failed to mention the bank's obligation to identify a customer in Financial Difficulty should have applied when the Budget Planner was submitted. The Lending Code Sections 178 to 186 refer.

    6. You consider the bank had a duty to act both proactively and reactively to your communications and you should NOT be penalised simply because you failed to contact the bank by phone.

    7. Accordingly, you would like the case to be reviewed by an Ombudsman.

    8. In the meantime, the bank should be instructed to stop adding interest and default charges.

    Adapt this as necessary if you agree and get the letter off to the FOS.



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  13. #53

    Default Re: Claiming under Financial Hardship from HSBC

    Thank you Slick for the information. Much Appreciated. I shall keep you posted !


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