Update & Advice needed....... PLEASE Case been on hold with court and still is as far as I know. (Not heard any different from court). FD have now sent a letter for demand of unpaid overdraft. My claim against them stands at around 6K and the overdraft is made up of charges and is less than 1K. I rang them and was told that 'they had won' and were now entitled to pursue any outstanding debts, hence the demand. Should I just write back explaining about the court claim etc? They seem to think that it's all over for me now and now I owe them money! What's the best approach to this? Please reply. Thanks

Cheers JM I wait till I get some correspondence or phone calls and take it from there. Hopefully soon there will be some info on business claims. Thanks again

Sorry if I've missed something but someone told me that I should probably amend my claim re 'penalty charges' etc. Cant seem to find anything, is there a template or instructions on this somewhere and is this absolutely necessary? Ta

Tried to pay some cash into my business account today but branch staff couldn't input it and said that the account was closed. Telephoned business banking who stated that the account was closed on 14th July and passed to Metropolitan. They very strangely stated that they didn't have an address for Metropolitan but only a phone number and that I should ring them. Obviously I dont want to do anything over the phone so I said I'd wait for them to write to me, if they do! The bank employee told me that the debt had been 'sold' to Metropolitan and my account now closed. If so, should I get some sort of official notice of allocation etc? I'm now expecting to be bombarded by telephone calls. Can I use the template for the harassment by telephone even if its on my business line and not a personal line? Also can I use the template letter relating to DCA visits since it's business premises and not a private address? Lastly, any developments in the reclaiming of charges on business accounts, I've got loads? I'm all questions. Hope you can help ...... again Thanks Wax

Been on phone with HSBC again today as i've received charges schedule for period end April to end May. They've charged me £160 overdraft fee (£8 per day) and £62 debit interest. The debit interest has increased to 23.58% for some reason, I've only been paying around £30 per month previously. They are trying to pressure me into taking a managed loan at 19.9% and have now started with this ridiculous charging structure to force me into signing. They say it is to 'help' me! Today another £8 will be added and again tomorrow, the day after that and so on ...... until I guess I sign for the managed loan. Please anybody have any experience like this or advice on what to do? I've read many threads re managed loans with people saying not to touch them with a barge pole etc. However my charges are spiraling quickly and I have to do something v soon. Again please help or give advice!!!!

HSBC are now trying to get me to sign up for a managed loan to repay the o/d I have. They will accept just over £60 per month for 12 years!!! All in all with interest this equates to over 8.5K repayable! Yes that's about 5.5k in interest. I've now declined their very nice offer but said I would gladly pay the £60 per month but without signing up for a managed loan. Even if I continued to pay their debit interest at approx £30 per month I'd still pay it off alot quicker (by my reckoning anyway). So, they don't want to know and have now said that they will charge £8 per day for o/d fee and back date it to the time I initially went over my limit. Plus charge the debit interest too. The o/d fee is payable for each working day, therefore £40 per week or £2080 per year. WHAT CAN I DO? ............. PLEASE .......... ANYBODY ....... I want to get it paid back but dont want the managed loan option it will cripple me (12 years!!!!). Anyway I can stop the £8 per day o/d fee? Or maybe the debit interest? Cant see how I can put the account into dispute regarding charges as I understand the re claiming of charges doesn't cover business accounts. Please somebody must be able to offer some advice etc, there's lots of experienced, knowledgeable people on this forum. Do I sound desperate?

Sorry I haven't replied but my broadband has been down for a while. Skeptic, Thanks for your advice and knowledge. I now have some figures from the broker for the compensation and the amount required to restructure the loan. Not sure if they are quite right though. Is it possible to email you the PDF with figures etc and I'll explain my concerns. Wax

Thanks very much for your reply and advice. Trying to find T&C at moment, when I do I will post the relevant bit. Still haven't got any figures for repayment from broker because they are blaming Nemo for stalling on it. I've been onto FOS and have asked for contact details of broker (Central Trust) so I can complain and request an immediate payment via cheque to myself. FOS are reluctant to give details as they say it will be sorted soon but their recommendation is that the loan is redressed and the PPI amount is taken off. FOS say this is the best course of action so it makes the loan like it would have been if I hadn't had the PPI. Because of my concerns with Nemo etc I dont want this to happen and want the payment via a cheque to myself. I want to write to Central Trust and demand payment straight away by cheque or I will take further action through court. Is this a good move? Can I legally do this? In a bit of a stuck with all this. I fully appreciate the work that FOS has done for me but their recommendation and conclusion is not what I wanted. More help and advice appreciated. Thanks in advance. Wax.

I sent S.A.R to Nemo at first but got a call from them telling me to do it with Central Trust instead. Nemo sent back cheque for £10! Got all telephone conversations supplied from CT for the time when the loan was arranged. Well I say all, but one part of the sales pitch was missing and it was the crucial bit. Once they admitted they could locate no more recorded conversations I put in complaint with FOS. It took nearly a year for FOS to allocate it to an ajudicator. In my opinion you should do the same cos Nemo will pass the buck to them anyway if they were the broker who sold the policy. Nemo are just the lender. I cancelled my policy when I realised but it made no difference to monthly repayment cos Nemo hiked the interest rate anyway and have continued to do so since. Just get in there quick cos it takes a long time. Wax

Pete Been reading through thread re Business A/cs and seems like there are uncertainties about re claiming charges at the moment. A new strategy is perhaps in the pipeline? In the meantime I want to try and get HSBC to stop applying the £4 per day over limit fee and monthly debit interest if possible. I'll never use this bank again & understand that I do owe them money but unfortunately due to ongoing business needs I can't pay the whole overdraft back in one go. I've had to cancel DD's & SO's which still need paying so putting cash into clearing off overdraft at moment would kill me. Obviously I dont want to enter into a managed loan etc at 19.9% interest but want to make them a monthly repayment offer. Any idea how to go about this or have you seen any templates etc for this type of request. I'm going to write to their Service Quality Team anyway to complain about the lack of support given especially in these hard times for small businesses. Wax

Hi Pete Thanks for your reply and advice. I have charges for unpaid cheques and DD's at around £25 each. I'll check through all my statements and get onto them. Will keep you posted. Wax

Hi Anyone Desperate for some advice re my business account with HSBC. Had the a/c for around 3 years with 1.5k overdraft and have kept within limit and pay their fees each month as normal. Due to slow business I had temp overdraft raise to 3k but only for 1 month. Hoped that things would improve and could get back to normal overdraft within time constraint but unfortunately it hasn't happened yet. HSBC are now returning cheques and DD's/SO's etc and banging on charges for these as the temp limit has just ceased. They are also charging £4 per working day for overlimit fee. I've tried to get a permanent increase to overdraft to improve cashflow at this hard time but they don't want to know. Also tried to get a small business loan but again they said no. They did say however that I could have a managed loan at 19.9% int but I would lose all banking facilities by doing this and wont help me out at all. I've now cancelled exisiting DD's & SO's so I don't accrue any more charges. Going to go elsewhere for a new account to carry on with my business needs as I feel completely let down by HSBC and don't want to give them anymore of my money. Any idea what's the best way to go about getting the charges stopped if possible and should I inform them that I will not use the account again and will pay back the balance over a period of time etc? Or another way perhaps .. I'm getting desperate now? Really hope someone can help! Thanks Wax

AA Thanks ever so for your input & advice. I'm going to speak with FOS and then demand payment from Broker straight away. I'll keep you posted on outcome etc. Thanks again. Wax

Hi There Just an update and questions etc. This has all been going on for ages now but after complaint through FOS I have been notified that the broker, not Nemo (the lender), have accepted responsibility for misselling and will pay back the whole premium originally paid on top of the loan. They will also pay me the total amount including interest I have paid to the lender in respect of the borrowing for the PPI premium plus interest at 8%. As I still have the loan the broker want to pay the premium back to the lender so the loan will be reconfigured as if I'd taken it out without the PPI. Thing is I dont trust Nemo as they have hiked the interest rates continually as they did when I originally cancelled the PPI policy and I fear they will do it again and I will lose out. The broker wanted me to sign a declaration to accept the proposal before I saw any figures but I declined through the FOS and highlighted my concerns who then asked the broker to put together some figures. This was 2 months ago and I've heard nothing from the broker or the lender. FOS say that the broker is waiting for Nemo to get the figures. Cant understand why it takes all this time when recently I obtained a normal settlement figure for the loan through the post within 2 days. Anyway, I wanted to know if I'm able to make demands to have the whole premium paid back to myself instead of the lender. I feel that as I was charged for it originally I should get it back and if I want to pay it off against my loan then that's my decision. Should I threaten court action if not paid within a time limit etc? Am I within my rights to do this? Any help would be appreciated. Thanks in advance

BUMP!!! Still paying the £50 per month but have now been advised that any outstanding balance above £250 (which mine is) is liable for interest at 15.9%. They still owe me 5.3K for charges etc and I have under 1K o/d. I say 'o/d' but actually they have withdrew the facility so I just need to pay it back. Obviously it could be argued that this amount is made up of the charges they owe me and they are charging interest at nearly twice the rate I have applied to my claim. What would you do? Anyone PLEASE!!!! Wax

Hi Scott Thanks for that, shall do it right away and see what happens. Guess I should then write to DLC to tell them that a/c is in dispute and not to progress any further? Ta Wax

Bump!! Please!!!

Update Not heard anything form Moorcroft but today received letter from DLC stating that the account is no longer with Abbey t/a Cahoot and is now owned by DLC and the client is Hillesden Securities Ltd. They are asking for my payment proposals and say they will start reporting against my credit file in 30 days. Enclosed is another letter apparently from Cahoot (on their headed paper) giving notice of the transfer of debt saying it was sold to Hillesden on 25.6.08. This is headed up with my address but has come through from DLC. It also says that the account type is 'loan' & 'Cahoot Loan Account' but its actually a credit card account. Not sure if this is actually genuine as it also has a DLC ref printed down one side dated 17.7.08 (if Cahoot sent it through to DLC to forward on to myself, then how did the DLC printed ref appear on it dated only yesterday?). I've been online to my Cahoot card a/c and can still log on etc and also via telephone it takes my card number and security details etc which makes me think it is still active. Cahoot have already defaulted me for the debt so if it's been sold on should this default now be satisfied. If not then how will this ever get satisfied if they no longer own the debt. Should I S.A.R Cahoot because there's probably charges there anyway or maybe S.A.R DLC if they now own the debt? Also I guess I should CCA DLC too, this will now be the third one as the other two have failed to produce anything. I hope someone can help soon because I sense that DLC may try to make things a little difficult. Thanks Please!!!!!!!

Hi All Have been struggling to pay Cahoot Card and they eventually defaulted me. They then instructed Apex to recover the debt and Cahoot wouldn't speak to me about the matter. Followed the excellent guidance on here and CCA'd Apex who then passed it back to Cahoot saying that they wouldn't pursue it any further. Wrote to Cahoot to see if they would consider freezing everything until my circumstances improve and also sent a personal budget statement of ins & outs etc.... Heard nothing from Cahoot!!!! Next got phone calls and letters from Moorcroft demanding the payment as Cahoot had instructed them to pursue the debt. Again followed brill advise on here and wrote to Moorcroft with the telephone harrassment stuff and also CCA'd them. CCA'd Moorcroft and requested deed of assignment to prove they could pursue the debt on 20th May and then received 'Notice of intended Litigation' from them on 24th May. Ignored it and then received the standard letter from Moorcroft stating that they were looking into my request and the account would be on hold for the time being. (The standard letter I've seen posted on here before). Anyway by my reckoning today is the 50th day since I requested the info so surely now they are committing an offence. What's the best couse of action to take from now on. Should I just hope that Moorcroft never contact me again or do I report them or write telling them that the account is in dispute etc. Any help/advise is greatly appreciated and any pointers of content of letters if necessary. Thanks in advance Waxsyd

Hi All Just a quickie. Still waiting like everyone else is but just wondered if anyone has any advice on this:- Got an o/d with this account at FD and and have just been crediting the a/c each month with enough to cover the interest on the o/d facility. FD have now withdrawn the o/d facility and demanded I paid it all back in one go (approx £1300). Not possible for me to do that so I said I'd pay them £50 per month which I am doing. They wont close the account whilst I owe them money but then sent me an CCA to sign and return for a loan to pay off the o/d. Plus they wanted to add on arrangement fees etc for about £170. Not signed anything or even sent it back, still paying the £50 per month and heard nothing more from them. The thing is though, the balance is only being reduced by £40 per month because they charge me debit interest at around £10 each month! I know this interest is normal practice on an o/d but they owe me over £5k in charges. Should I not be paying the interest or maybe nothing at all and put the a/c in dispute and how would I go about it? Hope you can help. Thanks Wax

Hi Orgman Didn't get anywhere with the application because basically the judge decided that it was too near to the date for the test case and that I might as well just wait for the outcome! Well that's just great for me then. Sure it'll all be sorted in a couple of weeks after the test case and they'll pay up just like that?? Uh?? I never really thought I'd get anywhere with the application for removal anyway, regardless of my circumstances, but I'd paid the fee and got the date so I tried. Yours may be totally different and also the test case will have started by then which may help. It just seems to me that judges are refusing the applications across the board just like the courts applied the stays, 'across the board'. Anyway hope all goes good with yours and the very best of luck. Wax

Hi Thanks for your reply. The Notice of Hearing from the court only advises of the date & time and that I should attend. There are no mention of any directions etc. I phoned the court when I received the notice and asked if I needed to do anything. I was told to just bring any supporting or relevant material that may help me to the court. I wasn't going to do the whole court bundle at this stage, just the part relating to removal of stay and financial hardship etc. Is this right? Wax

Hi All My main thread is situated at Waxsyd v First Direct I have a hearing to have the stay lifted on 29th November at Sheffield CC. Yesterday I received a witness statement from DG, that they have filed with the court, basically saying that the stay should remain. I'm suffering financial hardship at the moment and this has been a condition on my application to have the stay removed. DG are saying to the court that I have not provided any documentary evidence to them that I am actually suffering this hardship. Funnily I have heard nothing from DG or First Direct and then I get 3 letters from them in one week. First Direct firstly sent a letter asking why I haven't deposited any monies into the account for just over a month and wondered if I wasn't totally satisfied with the banking service I receive from them. Then they sent another letter about my claim for refund of charges asking that I should contact them to see if they could help and maybe offer some type of borrowing to help my position. Also attached to this was a Financial Statement they wanted me to complete a return. Obviously DG are referring to this in their witness statement. The Financial Statement and letter from First Direct was dated 14.11.07 which I received on the 15th and DG filed the witness statement dated 16.11.07 which I received on the 17th so even if I had filled it in straight away it wouldn't have been back with them in time! I'm just a bit worried now that I haven't completed the Financial Statement and returned it or sent any documentary evidence to court re my situation. I've seen the bundle available on here for 'hearings on removal of stays' which I shall use when I go to court and I will also take documentary evidence to prove my hardship status. Should I have done this before the hearing? Is this standard, has anyone come across this before? Anyone else in Sheffield CC on 29th November at 2.00pm?

Update & Questions I have a hearing to have the stay lifted on 29th November at Sheffield CC. Yesterday I received a witness statement from DG, that they have filed with the court, basically saying that the stay should remain. I'm suffering financial hardship at the moment and this has been a condition on my application to have the stay removed. DG are saying to the court that I have not provided any documentary evidence to them that I am actually suffering this hardship. Funnily I have heard nothing from DG or First Direct and then I get 3 letters from them in one week. First Direct firstly sent a letter asking why I haven't deposited any monies into the account for just over a month and wondered if I wasn't totally satisfied with the banking service I receive from them. Then they sent another letter about my claim for refund of charges asking that I should contact them to see if they could help and maybe offer some type of borrowing to help my position. Also attached to this was a Financial Statement they wanted me to complete a return. Obviously DG are referring to this in their witness statement. The Financial Statement and letter from First Direct was dated 14.11.07 which I received on the 15th and DG filed the witness statement dated 16.11.07 which I received on the 17th so even if I had filled it in straight away it wouldn't have been back with them in time! I'm just a bit worried now that I haven't completed the Financial Statement and returned it or sent any documentary evidence to court re my situation. I've seen the bundle available on here for 'hearings on removal of stays' which I shall use when I go to court and I will also take documentary evidence to prove my hardship status. Should I have done this before the hearing? Is this standard, has anyone come across this before? Anyone else in Sheffield CC on 29th November at 2.00pm?

Phantom Got your pm and copy of your letter, thanks. Well written and if you dont mind I'll pinch some bits and adapt for my use. I'll be very interested to see what response you get from them & I'll let you know how I go on. Maybe they'll whack it up to 14.9%! Thanks again Waxsyd