Stan**
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Posts
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Just wanted to confirm one quick point: Who is/are the governing bodies associated to BCOB regulations? Ive stated FSA and FOS. Is this correct?
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Thanks Slick...
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I have written a letter for a reclaim of fees since November 2009 and removal of DN, based on breach of BCOB Reg 5.1.1 and Reg 5.1.14. Please could someone confirm the correct address to send it to? Thanks in advance.
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Hi Slick, The account was closed approx 10months ago. No further charges were added after it was closed. The balance was an over-draft. So what is the actual status on penalty charges; when are they classed as unlawful?
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To summarise: -Current account terminated leading to DN, with outstanding balance of ~£2000 -Charges since April 2011 = ~£1000 -No written correspondence BEFORE default explaining financial hardship Monies aside, I really just want the DN removed!
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Hi Slick, No problem, thought it might have been too good to be true!! Certainly the critical period which lead to the hardship and ultimately default was over the last 2-3 years. I explained financial difficulty only over the phone - to be admissible in court I assume it would have to have been in writing? How would I stand in terms of reclaiming charges from 2011 - closure of accnt, and having the DN removed from CRA?
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Wow, I thought 24.9% is only applicable to credit cards?!! At that rate, the total claim is ~£6500 I will draft a letter and post it here for review
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Update- I have received all statements since approx 2001. I need to do some digging, as I reclaimed penalty charges on this account several years ago, so I do not want to overlap this claim with the last and make a double claiim. But if I go back 6 years (I think previous claim was approx 7 years ago), and use interest in restitution of 8%, then there is approx £4000 in penalties! The default notice is for ~£2000. 1) is 8% the correct figure to use for int'st in rest'tn? I really want to focus of this claim to be on removal of the default notice, dated approx 1 year ago. 2) are there any suggestions / templates for a claim letter based on this situation? I am really wanting the wording of the removal of the default notice to be critical here; I do not want it marked as satisfied, I want ALL negative markers removed, so I do not want to trip up on this request! As always, any/all input is welcome. Thanks Chris
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....I dont suppose anyone can comment on how long it typically takes HSBC to settle a claim once they are in receipt of a signed acceptance form? Is it worth putting a covering letter in asking stating payment should be made within 14 days? Or is that just taking the.... p^%s?!
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Ok thanks for the clarification.
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They've stated 20%, i.e basic rate income tax. I understand that there is tax due, but I am personally liable for this element of tax? not HSBC? - or in other words, I doubt very much they allocating it to HMRC on my behalf. It should be me declaring it in my self assessment tax return not them!
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Hi all, Some interesting developments! After sending a failure to comply letter (final before action), I first received a letter from HSBC within days saying they would reply within my time frame. After the complete run around for so long I didnt hold out much hope. Then, this morning I received an unexpected correspondence! it is acknowledging 4 out of the original 7 policies I complained about as being mis-sold, with a full and final offer of circa £5100 (not much shy of what I had calculated for ALL 7). However one part is really puzzling me: "This figure should ensure the return of your premiums with an element of gross interest. The interest element will be paid after the deduction of basic tax rate, unless you are a higher tax rate payer, where appropriate rate will be applied. We are unable to pay this interest without the deduction of tax". As it happens I am within my personal allowance, so my income tax is zero. And surely any tax liability is mine to declare and pay? Any other input is warmly received. Thanks, Chris.
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I will scan the letter and upload tomorrow. The failure to comply has really come about since filling in the questionnaire, it has become apparent some of the finer details are missing. Plus lets be honest, they are just playing games with their nonsense/evasive letters.
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Yes, well Im assuming so. Ive not been able to get a satisfactory SAR to date, so its hard to say for 100%, but nothing to imply other than HSBC. What is the implication of this if they are/are not with HSBC? And could you be so kind as to point me in the direction of failure to comply letter RE SAR? Thanks.
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Thanks for the reply. Sorry, what is HFC? Is there a letter template I can use as a guide?
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