bump

I had a 200pound payday advance from WDA, on which the interest was 50pound. At the end of the month i had to pay them 250 or i could pay them 50 and rollover the remaining 200 to my next payday, and they wud charge me the 200 loan amount + the 50 in interest again. I could not afford to pay them the 250 back. And i kept rolling over the loan and ended up paying them 50 pound every month. This went on for about 8 months. That means i had ended up paying them 400 for an original loan of 200. This month i stopped the direct debit as i could not afford to continue with this. they are now demanding the 250 + 20 in interest. i have been advised that i can tell them that since i have paid u double the amount over a period of just 8 months, i can request them to write this off. Is this correct? if so, is there any sample draft letter on this website that i cud send to them? they have written to me yesterday, saying that if you do not pay this amount in 7 days, then ur details will be passed on to a debt collection agency who may visit you at home or work. Is this allowed? if not, how do i say to them that i am aware that this is illegal and that i do not want u to contact me now. Any advice will be greatly appreciated. Thank you

Ok i am a little confused...does this mean that the judge will announce his decision within a month and only then we can start claiming? I had written to my bank...HSBC...back in july...just a week after i wrote to them asking for my money back...the OFT test case was announced. So they wrote to me saying that we can do anything until we know the outcome of the case. Because of this, i did not file a court case, and thought i might as well wait till january. What would you guys advice me to do now? Should i file a case anyway? or should i just wait for the announcement and then write to HSBC again?

I have around 3k in debt with online payday loan companies and also with pawnbrokers. Ive been taking out new loans to pay back old ones and it is jsut getting out of hand now. I am also leaving the country in 6 months time and dont know if i will be able to earn enough to pay everything off until then. What happens if i leave and cannot repay them? I have had to provide my passport (i do not have a british passport) as a proof of id while taking out loans from pawnbrokers and thats has my address in my home country on it. Will they try contacting me there?

I just complained on HSBC's website asking if they were ready to make a settlement. And they replied back to me saying, Thank you for your recent e-message. Unfortunately we are unable to respond fully to the point(s) you have raised in your email because this is an unsecure messaging service. However if you would like to contact us on 08457 404404, we will be more than happy to discuss your query. Yours sincerely, Bernadette Murphy Service Management Team HSBC Bank plc

Is there a template letter i could send them, asking them to reach a middle ground?

I have sent the LBA to the bank on the 3rd of August. I guess even if u send the LBA now u would receieve the same reply. I dont want to go to court. Was wondering if there was any other way out...

Thanks for those links michael! Just recd a letter from hsbc this morning saying that they are not dealing with any complaints re bank charges until the outcome of the OFT case. I dont really want to go ahead with filing a case as dont want more money stuck. Does anyone think phone calls to them wud help? If im willing to settle for less?

bump! please help!

Hi all, I sent my preliminary letter on the 16th of July 2007. Recd standard letter on the 19th from Mark Loker saying they are looking into it. Sent LBA on the 3rd of August and havent heard anything from them yet. I also made a complaint through thier website on the 1st of Aug to which they replied on the 3rd of August saying... "We will contact you in writing within the next 14 days in response to your complaint. Please be advised that you can find full information regarding the OFT case on http://www.HSBC.com. Alternatively if you would like to contact us on 08457 404404, we will be more than happy to discuss your query." 14 days are up this Friday since i sent the LBA and since i recd the e-mail. What should my next step be? Is it worth filing a case now? Are they making any offers or will i just have to wait until the test case results? Will sending them nudges instead of filing a case help?

When u say u have filed a claim, does that mean u are at the court stage or have u just sent the prelim letter?

Just to update u guys, received a letter from Mr. Loker from HSBC this morning, saying they are investigating the claim and will get back to me soon. They have also given me a ref no. to quote incase i need to get in touch with them regarding this...

Thanks!!

I have started preparing my LBA now...but noticed that most of the stuff in the LBA template is the same as what the Prelim letter template says.. The LBA template just looks like a shorter version of the Prelim letter...is this ok? and am i looking at the right one? Another thing, I realised, while reading other threads, that i should not have added the 8% interest in my charges calculation sheet that i sent with my prelim letter...what do i do now? Should i ring them and tell them that i am ready to settle w/o the interest as well?

Goodluck navasuk...! I posted mine the same time as well...so keep me updated..!

Ohk...thanks for that pinkdutchess i dint know... Thought we had to send it to the local branch as well... Thanks anyway!

Thanks Cherickle... I have sent it by recorded delivery...royal mail says it was delivered today...

Hello All, First of all thank you very much for starting these forums...and helping so many people like me... Ive sent my prelim letter to hsbc 2 days back...thanks to the template on this website...and they should have recd it today... Keeping my fingers crossed for the moment... Just wanted to know...Ive sent the prelim letter to the leeds address and a copy to my branch...do u think sending a message to them via internet banking would speed up the process?