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HSBC rip off charges Help Please !!


MIKEY DABODEE
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Hiya Mikey, and welcome to the HSBC forum :).

 

you need to start a claim to recover your bank charges and I suggest you go for everything they have charged you in the last six years while your at it :).

 

Read the frequently asked questions and the step by step guide at the top of the site and start to write the letters to recover your charges.

 

If you have any problems or queries just post it here and one of us will be along to give you a hand.

 

Good luck

 

pete

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Hiya mike, its really up to you how you handle your overdraft. If you can afford to pay the charges then you wont get any more charges on top in a snowball effect :rolleyes: and it will keep the bank happy and their phone puppies off your back :rolleyes: but whether you clear your account down or not you should get everything back when this mess is all over.

 

pete

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Many people have tried to work out a reasonable solution with not just HSBC and failed. I think its because there is no longer any real bank managers at branch level, there is no one who you can talk to who can agree anything :rolleyes:

 

pete

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Hiya Mike, if you look in the templates library there are two spreadsheets, the simple and the advanced, as the names suggest one is simple (ish) and the other needs a bit more time to check its right but we can help there :rolleyes:

 

The simple spreadsheet just calculates the charges the bank has taken from you and adds them all up, the third page adds the 8% County Courts Act section 69 interest which you don't need to worry about until if/when you send your claim off to the court :)

 

The advanced spreadsheet calculates the charges deducted and adds a proportion of the interest you have been charged against those charges... again page 3 deals with the S69CCA interest :)

 

you choice which one you use, do you just want your money back or do you want to make them bleed a little too? :grin:

 

pete

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Hiya Mike, if your first claim has been submitted to the court and been stayed then start a new claim from the end of the one you have already done.

If you have not sent your claim to the county court yet just update your figures to include the new charges and send it to HSBC again :).

 

You can change your figures, add new charges, correct errors etc etc to the point you send it to the court, once you have done that its "cast in stone" and will cost you more court fees to alter it.

 

pete

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  • 2 weeks later...
what I am trying to do is get account frozen to stop even more OD charges been shoved on, and pay bit off each month to clear it

original OD was £500 most of that charges I owe about £250 of that, now over £800 with all charges/interest etc

and cant afford to clear it all

 

think was told Customer Credit team to contact

 

Hiya Mike, I doubt very much if HSBC will agree to anything along these lines, they are more likely to offer you a managed loan WHICH YOU SHOULD REFUSE because it will be horrendously expensive and mean you will be in debt for a long time.

 

I think most people end up opening a new account with another bank to handle their day to day finances and once your claim is underway your account will be in dispute and HSBC can do very little legally to recover anything until your dispute is sorted and you get your charges back. while this is happening you can pay what you can afford into the account to reduce the debt you actually owe them.

 

pete

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  • 2 weeks later...

Once you have disputed your account and that includes asking for your penalty charges back they should not pass your account to a collection agent without first sorting out your complaint.

 

They may try passing you to their in house collection puppy, Metropolitan, who do use their own letter head to fool everyone but to all intents and purposes are just a division of HSBC, they are located in the same building as DG Solicitors and going by their email addresses ([email protected]) they even have exactly the same computer set up as your branch does :rolleyes:. Once you tell Metro the account is in dispute they normally leave you alone again :)

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Do you know how long it takes to read a 119 page legal document properly? :D heres a post I made earlier

 

I've only scan read the judgment so far but from what I saw the banks have until the 22nd May to decide what they are going to do next, the overall judgment is what we wanted but there is a lot in the detail the banks could use in the next round of the court case.

 

The stays will defiantly stay in place during this period, after that I think it really depends on the banks decision.

 

My own personal opinion is sooner or later all the banks will have to adopt a European style charging system of a few pence per transaction for everyone and the "free banking" marketing myth will be killed once and for all.

 

How and when the banks decide to come clean and pay up is up to them but they will be looking for the cheapest way out, from their actions to date they arn't worried about moral issues or their public image :-|.

 

pete

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Hiya Mike, they are bound by the banking code which states they cannot pass a debt in dispute to a collection agent until they have resolved your dispute. Even so they might try but it will get passed back to them when you tell the DCA the accounts in dispute :).

 

A managed loan basically means you pay a small amount to them every month for many years and the amount you pay back in total doubles... in other words its a life sentence to debt :eek: DO NOT TOUCH ONE WITH A BARGE POLE

 

pete

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Hiya Mike, well at least the second letter confirms your account is in dispute :) and yes your new schedule will be the one that counts.

 

yes the new templates have been posted

 

Subject to that verification, we will explore with you what we may be able to do to assist. This will include considering whether all or any current debt be rescheduled or whether alternative borrowing arrangements could be put in place. The fact that you have incurred overdraft charges and claiming a refund of these charges will form part of our overall assessment {as will other relevant factors} but our focus will be on considering we may be able to do to assist, not solly considering refunding charges as you have requested

 

This is the standard wording they send to you before they offer a managed loan :rolleyes: is the sum of your charges more than the total debt?

I would complete the review sheet but also include a copy of your schedule of charges with a balance figure of what you owe less the charges and confirm the payment offer you have already made to them.

 

Regarding the phone calls, when you get fed up with having fun with them :D there is a harassment template letter which you can send that should stop them phoning you :).

 

Thats the one RDM :D

 

pete

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  • 2 weeks later...

It means no change for us for the time being :| however this is obviously concerning HH Justice Smith and therefor probably a good many judges will have the same opinion that this could take longer than necessary.

 

I think this is an indication that the high court is starting to realise there is a danger that they are just being used by the banks to delay things, a very similar point of view many county court judges have in our own claims.

 

pete

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