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Hsbc 2nd Letter....what Next!!


littleprincess
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Hi all

i have received my 2nd letter back today re. my claim for bank charges.

the first letter they refused to pay anything back saying all was legal and fair! (i expected that)

i sent the 2nd letter and they have replied saying they have noted my case, and because of the hold on bank charges my case has been noted and filed

now what??? do i go ahead and put in a small claims?

i am unsure what to do now!

in their 2nd letter they sent a booklet "putting your finances in order" oh how helpful of them (i wouldnt be in finacial problems if they were not taking £175 out every month!) and told me i had to fill out the finacial spreadsheet at the back and return it. do i have to do this?

 

I have also had a answerphone message today from my local branch asking me to call them to book a appointment with them to discuss my account! do i have to go to this?

 

any help would be great, as im unsure on where to go from here!

 

thanks in advance x

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Hi Littleprincess

 

You need to get your claim into the Court system so that your money is protected.If you have a read of my thread it should give you some help :)

You should also open a different bank account so they cannot take anymore of your money.Obviously make sure they are not connected to HSBC :-D I opened one with Alliance & Leicester.

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/185713-hsbc-overdraft-charges.html

 

 

regards

Lee

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Hi all

i have received my 2nd letter back today re. my claim for bank charges.

the first letter they refused to pay anything back saying all was legal and fair! (i expected that)

i sent the 2nd letter and they have replied saying they have noted my case, and because of the hold on bank charges my case has been noted and filed

now what??? do i go ahead and put in a small claims?

i am unsure what to do now!

in their 2nd letter they sent a booklet "putting your finances in order" oh how helpful of them (i wouldnt be in finacial problems if they were not taking £175 out every month!) and told me i had to fill out the finacial spreadsheet at the back and return it. do i have to do this?

 

I have also had a answerphone message today from my local branch asking me to call them to book a appointment with them to discuss my account! do i have to go to this?

 

any help would be great, as im unsure on where to go from here!

 

thanks in advance x

You only need to complete the Income and expenditure form if you are claiming financial hardship. It doesn't stop you filing a court claim whatsoever. You do not need to go to the branch for an appointment, in fact I would say you shouldn't.

.

FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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Hi again LP :)

 

yourbank is absolutely right , - you say you sent the 2nd letter which I take it was the Letter Before Action - in which case you should follow through with what you told them you'd do in that letter - start court action ......

 

They are trying to sidetrack you with their waffle - carry on now and lodge your claim in your local county court ..... using Form N1

 

http://www.consumerforums.com/resources/templates-library/48-bank-templates/113-4-particulars-of-claim-n1-updated-version-now-available.html

 

Oh and don't forget to add your court fees on to the claim , along with the 8% interest which becomes operative when you lodge at court .

 

Come back if you need more info ....... :D

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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I could be wrong but, I would say it's very unlikely you would need to go to Court :) If and when the Banks finally admit defeat, then they wouldn't have a leg to stand on in Court :)

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thanks lee, i suppose its just them scaring me by saying that if i didnt go overdrawn or had the moeny in there the charges would not have been applied and i suppose im worried the courts look at it like that too!

ive just posted another post as i won my PPI insurance back from HSBC today so this has given me some confidence, especailly knowing that HSBC do buckle at some point and give in!

i have a appointment with the bank monday to restructure my loan, so im going to bring up the charges also, try and scare them a bit, and use the knwledge ive learnt off here to make it sound like i know what im talking about! :-)

im filling in the court forms today, and whilst im in town with the bank monday ill go into the court and file the small claims.

why oh why cant the banks just admitt defeat! it was never their money to take in the first place, so they should just pay it all back, put down the cost of charges and then its all sorted! but hey thats in a perfect world eh!!! ;-)

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thanks lee, i suppose its just them scaring me by saying that if i didnt go overdrawn or had the moeny in there the charges would not have been applied and i suppose im worried the courts look at it like that too!

 

LP, if the courts look at it like that , there's about 65,000 of us in the poo ! :eek:

 

ive just posted another post as i won my PPI insurance back from HSBC today so this has given me some confidence, especailly knowing that HSBC do buckle at some point and give in!

Congratulations!!! on getting your PPI back - if yuo post that on the forum you used , somebody should give you a *WON* on it

i have a appointment with the bank monday to restructure my loan, so im going to bring up the charges also, try and scare them a bit, and use the knwledge ive learnt off here to make it sound like i know what im talking about! :-)

 

Watch this re-structure business very carefully , LP - you don't want to end up with a 'Managed Loan' . That is the worst possible scenario ... if you're in any doubt ,ask for time to consider and come back on here and ask .... someone will guide you ........

im filling in the court forms today, and whilst im in town with the bank monday ill go into the court and file the small claims.

why oh why cant the banks just admitt defeat! it was never their money to take in the first place, so they should just pay it all back, put down the cost of charges and then its all sorted!

 

And when it's got to be paid , for a lot of banks it'll be paid with taxpayers' money that they've scrounged because of the Credit Crunch !:rolleyes: makes your blood boil ,doesn't it? :mad:

 

but hey thats in a perfect world eh!!! ;-)

 

Be boring if it was perfect all the time ,don't you think ? LOL!

Anyway , you're doing well , LP - so keep going , not long now till you can sit back and relax , waiting for the pay-out ....... :)

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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Sorry, LP - I've just noticed your other thread ...... it's a re-structure of your Loan because of the PPI cancellation ........ but be aware anyway - as Bankfodder said on your other thread - they have no humanity when it comes to taking advantage of customers .........

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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thanks JM, i will certainly ask the question if its a "managed loan". if she says it is, do i refuse this point blank? the letter just said they will restructure my loan at the same interest rate and terms.

sorry to ask so many questions, just want to go in there looking like i know what im talking about!! :rolleyes:

im damn sure all their staff have been on training courses titled "how to take advantage of your customers!" (probabably paid for by our bank charges)

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Thanks lee ,

 

Just to give you more on this LP , I like pete castlebest's description |:

 

I'd never advise anyone to let them ‘bestow’ one on you. It happens when you are deeply overdrawn - charges every month, then they present it like the holy grail - they will loan you the money to pay off the overdraft - you'll be back in the black - hurrah! and maybe even a little extra to spend on whatever you want. it's a con! you will be paying for that little loan for a long, long time to come - and I mean years and years and years! the loan rate is way above the norm - like at least 10 points higher. They pay themselves the interest every month, month in and month out and very little off the principle of the loan.

 

There are probably hundreds on this forum who are struggling with managed loans. Try to keep your head above water and do what you can to clean up your finances , but under no circumstances fall for hsbc's managed loan - it is like indentured slavery! You will live to regret it

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/139521-managed-loan.html

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/162162-advice-managed-loan-please.html

 

There are some horror stories from those who have been coerced into taking a Managed Loan , LP ...... but they don't actually mention the words 'Managed Loan' when they're lumbering you with it ..... however as as you have said ... you will ask them point blank - they'll have to come clean .......

 

Yours should be of benefit to you if it's restructured to exclude PPI -

Edited by johnnymitch
removing font marks ........

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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thanks all, went to the bank this morning, and its a restructure of my personal loan, my interest rate has remained at 14.9% whic is what it started at 3 years ago, and i have 20 months left to pay off. they have taken the PPI off.

all my agreements still say personal loan, and i ensured i read everything twice! the word managed loan was no where to be seen!

 

as soon as i sat down i said this is not a managed loan and she said no its a personal loan like you had before, just without PPI.

 

so ive sent off my agreement to head office to say i will accept their offer for the refund, and now i wait for the money!

 

the bank were ver off with me though and rude, but i dont wanna be freinds with them anywaY!

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thanks all, went to the bank this morning, and its a restructure of my personal loan, my interest rate has remained at 14.9% whic is what it started at 3 years ago, and i have 20 months left to pay off. they have taken the PPI off.

all my agreements still say personal loan, and i ensured i read everything twice! the word managed loan was no where to be seen!

 

Well done LP - the miserable beggars could have given you a better interest rate now that the base rate is about 0.5% ! So they're still doing well out of it ....

as soon as i sat down i said this is not a managed loan and she said no its a personal loan like you had before, just without PPI.

At least it let her know you knew what you were talking about - which is probably why they got rude.... they don't like you knowing too much LOL!

so ive sent off my agreement to head office to say i will accept their offer for the refund, and now i wait for the money!

That's great , well done you !

 

the bank were ver off with me though and rude, but i dont wanna be freinds with them anywaY!

 

Hee-hee .... they just don't like having to pay out money .... :grin:

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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Just a little thought , LP - are they going to pay you up front , or use it to reduce your Loan ..........? I think they can do that using the 'Rights of Offset ' rule ......

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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hi johnny, no they are paying the money into my account, i had to go restructure the loan, which is now done, payments have gone down from £126 a month to £96, and the original amount owing is what im paying back, and then the £1022 for the PPI will be debited into my account in within the next 5 working days.

so just waiting for that to hit my account now!

after ive got that back, ive gotta sort bank charges and a CCA for my credit card! oh when will it end!!!! keeps me busy though!! :-D

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is the amount you are paying the same as you would have paid without PPI ever being on your account?

.

FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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and then the £1022 for the PPI will be debited into my account in within the next 5 working days.

 

:eek: tee -hee! I hope you mean 'Credited ' LP ??:D

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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after ive got that back, ive gotta sort bank charges and a CCA for my credit card! oh when will it end!!!! keeps me busy though!! :D

 

It'll be worth it in the end though LP - see what you've achieved already .... ! :):):)

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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I'd never advise anyone to let them ‘bestow’ one on you. It happens when you are deeply overdrawn - charges every month, then they present it like the holy grail - they will loan you the money to pay off the overdraft - you'll be back in the black - hurrah! and maybe even a little extra to spend on whatever you want. it's a con! you will be paying for that little loan for a long, long time to come - and I mean years and years and years! the loan rate is way above the norm - like at least 10 points higher. They pay themselves the interest every month, month in and month out and very little off the principle of the loan.

 

There are probably hundreds on this forum who are struggling with managed loans. Try to keep your head above water and do what you can to clean up your finances , but under no circumstances fall for hsbc's managed loan - it is like indentured slavery! You will live to regret it

 

There are some horror stories from those who have been coerced into taking a Managed Loan , LP ...... but they don't actually mention the words 'Managed Loan' when they're lumbering you with it ..... however as as you have said ... you will ask them point blank - they'll have to come clean .......

 

I have previously had a "Managed Loan" & i believe HSBC called it an M.L.A I have also noticed recently on some old statements that i was also paying an M.B.A! Is this also a "Managed Loan"?

Debt Free Since 1st September 2009:D

 

Target Savings For 2010 = £1000:)

 

Savings So Far = £700:lol:

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