HSBC at it again - advice please

[alientoo]

Hi

Please help! I have written a rather long note below as background to my situation and really need some level headed advice.

I successfully claimed from HSBC in July 2007 after having read the advice on this site.

Thanks to all who helped albeit unwittingly.

Although they did not pay all that they owed me I settled for a smaller amount because I needed the money then. Post claim HSBC continued their excessive charges and I am finding it nigh impossible to get my head above water because of it.

Three weeks before pay day I found there had been a withdrawal of £999.00 from my account. I panicked and called HSBC to report an unauthorised transaction. HSBC casually told me that the amount was taken by my HSBC mastercard becuase it was in arrears and they had seen some money in my account so took it. I explained that it was still 3 weeks to pay day, my rent wasn't paid yet etc and there was no way I could survive on the remaining £3.20. The response I got was "we've written to you (they hadn't).... it's in the terms and conditions". I asked if a portion could be returned with an arrangement to set up a payment plan and the response was flippant. I said I would change my bank and they would then be losing money as they would have one less person to overcharge. Response, quote, "do what you want". A few days later I received a letter saying they had sent me a letter by securemail but no one had been available to sign for it and I should contact them. I received none of the 'we called but you weren't in' type notes that royal mail etc leave.

I have now changed my bank account and want to get my charges back in order to pay off the overdaft. I will deal with the mastercard as a seperate issue.

Can any one please help me with wording a letter to them to sort this out? In fact, any advice will probably do.

[jowalshy]

Hi alientoo. I am so sorry you are having such a hard time with HSBC. Well done on the move to another bank account though, this should help you in your effort to reorganise your finances. Unfortunately it does state in their terms and conditions that they can take your money for another account you hold with them to pay off a debt owed to them. The only advice I can give to you is to go back to HSBC and try and have a meeting with your own personal bank manager (not some fob off chap or chapess from either telephone banking or a minion within your own local branch). Explain to them your situation. The chap or chapess may hopefully listen to you and arrange a temporary overdraft or something like that so that you can pay your rent. Do not mention that you have actually changed to a different bank just yet. Back in Feb I managed to persuade my bank to give me a temporary overdraft for six months, thus enabling me to pay my bills etc and the overdraft within the time limit. If you haven't already done so, complete an income and expenditure sheet to show them how you manage on your money and that with their charges, it makes it impossible to meet your other financial commitments.

[jowalshy]

Also, if you do get to speak to your manager do not go for a managed loan, these are bad news as you end up paying for ever and ever. Just try and go for the temporary overdaft facility. Work out in your mind how much you can pay off each month in order to clear within your own timescale and go for that. this way you pay it off without incurring any charges and could possibly be a quicker way than a managed loan.

 

This advice is only given if it is a small amount to pay off as it gives you the flexibilty to pay off what you can afford rather than taking out a loan which would be a specific amount. each month.

 

As for the charges you have incurred, you could always start the ball rolling on a new claim, but bear in mind this claim will probably get stayed until the outcome of the OFT test case due to start mid January 2008. (but don't tell this to your manager, it might put them off of helping you in your situation)

[alientoo]

Thanks for the advice. I went to my branch today without any luck and carrying my financial breakdown. The most helpful advice I got was to stop my subscriptions to 2 proffessional journals (all tax deductable and my only luxury). I will start my new claim asap.

I explained my situation to the landlord today, and while she wasn't happy she has agreed to let me pay off the arrears over 4 months with a charge of £40 for the inconvenience. Fairy nuff, I suppose.

Thanks again.

[jowalshy]

I'm sorry that it didn't work out too well with the bank. What a cheek of them to tell you to stop your subscriptions .

 

I'm glad your landlord was understanding about the situation.

 

If you are ever in a situtuation like this again, you could always do a right of appropriation letter to your bank. this letter tells them that you specifically want the money going into your account to be spent on certain things like rent, rates & food. You have to do this letter before the money goes in.