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AAAAaaargh! Will it never end?


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Hi can't work out how to start a new thread so will post here as it's an interest issue. Have send out LBA and will be starting court action on Tuesday (11th July) if I haven't heard from them (HSBC). But I now realise that the amount I am claiming for is incorrect as I have charged all interest rather than just interest on charges. What do I do now? Do I have to start from the beginning with the revised amount?

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Hi

I think I may have done the same thing - How have you worked out the interest. I thought it was the amount that they charged you - Gulp.

Thanks

Sarah

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Hi

I think I may have done the same thing - How have you worked out the interest. I thought it was the amount that they charged you - Gulp.

Thanks

Sarah

dont worry sarah, depending on what stage you are at , its all fixable :), personally , the best thing to do is forget about o/d interest as its a bit of a minefield tbh, i know that some people have miscalculated and still got paid, but i dont think that the banks will take this forever, so just wait until you get to the court stage, then think about interest, and only the 8% apr one :)

  • Confused 1

HSBC- £4995, settled payment in full

if you found this post helpful, please click the scales (top right of post), ta ;)

 

if you're not sure what to do?, Read the FAQ's

Unsure about what to claim, or confused about overdraft interest? Charges explanation

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  • 4 weeks later...

Have received a letter from HSBCs solicitors to tell me that they will be refunding my charges in full - it now seems a rather hollow victory as they have informed me it will be refunded to my Apex (branch of Buchanan Clark & Wells Debt Collectors) account. I am furious! Surely it is my money and I can do what I like with it? (could really do with the cash right now and was kind of "banking" on it!). Anyone know a way round this? I have checked with Apex and sure enough, the debt is still owned by HSBC...

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I think you should send a letter back to the solicitors saying you will only accept a cheque and if they pay off your apex account, then you will carry on with your claim.

 

If anyone can confirm this is right, I'd appreciate it!!!

Dani

 

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Guest Mumofthreeboys
Have received a letter from HSBCs solicitors to tell me that they will be refunding my charges in full - it now seems a rather hollow victory as they have informed me it will be refunded to my Apex (branch of Buchanan Clark & Wells Debt Collectors) account. I am furious! Surely it is my money and I can do what I like with it? (could really do with the cash right now and was kind of "banking" on it!). Anyone know a way round this? I have checked with Apex and sure enough, the debt is still owned by HSBC...

 

FD tried to do exactly the same thing to me when I was at Prelim stage. They said they would pay up (less the interest of the huge sum of £12 odd) and that it would go to Metropolitan Collection Services.

 

I sent them the LBA letter and told them I was furious that they should even suggest what I should spend my money on and that I wanted a cheque made out to me. And that's exactly what I got plus interest :D

 

Don't let them get away with it - if you choose to pay off your debt that's up to you and not them ;)

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The money is yours to distribute as you see fit. I agree with the others, inform them you expect it to be sent to you in (stipulate form of payment) or you shall be continuing with the claim. How dare they tell you how they shall be paying back your money, you are sueing them not the other way round. Grrrrrrr. :mad:

My opinions are just that, I will help if I can but I am NOT a professional. If in doubt seek legal advice.

READ THE FAQ'S BEFORE ASKING A QUESTION! THEY ARE THERE FOR A REASON! AS IS THE USER-GUIDE!

 

My active claims:

Owed £150 from Barclays.

Husbands claims:

Owed £1049 from Lloyds.

 

Glorious Victories!:

Barclays Joint Account- Settled £823.

HSBC Joint account-Settled £50.

Studio- Settled £80.

HSBC Student account- Settled £560.

Lloyds Credit Card- Settled £72.

Freemans- Settled £40.

Abbey Joint Account- Settled £330.

Waiting till all claims settled then Donation-A-Rama.

:D

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Thinking of sending this letter today, what do you think:

 

Dear xxxxxxx

Thank you for your letter dated 21st July 2006 offering payment of £xxx.xx representing the charges applied to my HSBC account. You should by now have received my signed copy of the proposal.

You will notice that the proposal (written by yourselves) contains the wording “I will arrange for a refund to be made to you”. I was understandably quite taken aback when during a conversation with you yesterday 1st August 2006 you implied that you will be arranging for the payment to be made to the Debt Collection Agency who now manage my HSBC account. Frankly I find this totally unacceptable, this is my money to distribute as I see fit. I expect to receive a check for the full sum by return post or I will be continuing with my claim.

Kind Regards

xxxxx xxxxxxx

Does the threat of continuing with my claim hold any weight now I have signed and returned their proposal though? I guess it does because if they do not comply with the terms of the proposal ie. by paying me then they don't have a leg to stand on?

What do you guys think?

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Guest Mumofthreeboys

Yes, sounds fine to me. I think you should send this as it backs up what you've said about their proposal that you have returned i.e. you want the amount paid to you and not the DCA. :)

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Thinking of sending this letter today, what do you think:

 

Dear xxxxxxx

 

Thank you for your letter dated 21st July 2006 offering payment of £xxx.xx representing the charges applied to my HSBC account. You should by now have received my signed copy of the proposal.

 

You will notice that the proposal (written by yourselves) contains the wording “I will arrange for a refund to be made to you”. I was understandably quite taken aback when during a conversation with you yesterday 1st August 2006 you implied that you will be arranging for the payment to be made to the Debt Collection Agency who now manage my HSBC account. Frankly I find this totally unacceptable, this is my money to distribute as I see fit. I expect to receive a check for the full sum by return post or I will be continuing with my claim.

 

Kind Regards

 

xxxxx xxxxxxx

 

Does the threat of continuing with my claim hold any weight now I have signed and returned their proposal though? I guess it does because if they do not comply with the terms of the proposal ie. by paying me then they don't have a leg to stand on?

 

What do you guys think?

 

I was in a similair situation ...

Demanded repayment by cheque in lba,gave them a further 7 days to comply with a 2nd lba, received cheque this morning.....

 

if i can help further ,just ask ...were all here to help each other ;-)

B.O.L

mac

HSBC £968

22/6/06 prelim SENT

5/7/06 request for charges RECEIVED

6/7/06 lba+charges SENT

21/7/06 offer of £850 RECEIVED

24/7/06 LETTER SENT accepting offer on condition it is repaid by cheque(as requested in lba) or will continue for full amount+int+cost.

02/08/06 CHEQUE RECEIVED :D

MY THREAD http://www.consumeractiongroup.co.uk/forum/hsbc-bank/11708-mac-hsbc.html

 

:D tommorows just another day..........:D

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  • 4 weeks later...

So I managed to get a settlement out of HSBC for the full amount, thankyou very much.

 

However my happiness was shortlived as they paid this amount to their DCA (Buchanan Clark Wells) I wrote and said that I wasn't happy about this and reminded them of the wording in their letter stating they were willing to settle. (ie. we will make payment to you etc etc) They then wrote back stating "someones law of something or other part i viiii" saying bascically if I owe them money then that's where the money goes, obviously trying to confuse me with legal jargon, which incidently worked as I was prepared to leave it at that as it did pay off a nice chuck of my debt, end of story, right?

 

Think again! I have now received a letter saying they will credit me by cheque in the next 7 days (well thank you very much except that was 9 days ago!!! which I only realised when I woke to a letter from the DCA saying my account is in arrears and this is my last chance before they take me to court etc etc etc. So I phone the DCA and it appears that HSBC credited the money then called it back and this showed as a default on my account. (This matter is now sorted although I'm not completely convinced there isn't a "black mark" against my name somewhere as a result of that letter.

 

No what I am furious about it that I phoned the number on the top of the letter that it says to phone "if the credit does not appear" (does this happen a lot or what!?) and she is away on holiday till the 4th September!!! Well it's alright for some! I booked this week of hoping to holiday on the money from my claim but it seems I'm no closer to my money than I was at the start of this process. I am extremely stressed out and frankly p*ssed off!!! (incindently the number given as a contact in her absense has been engaged for the last hour!!!!!!!!!

 

AAAAAAAAAAAAAaaaaaaaaaaaaaaaaaarrrghhhhhhhhh!

 

Sorry, I just needed somewhere to vent - I guess the next step is the rigmarole of filling in the court questionnaire. ho hum had hoped to get away without doing it - why didn't I quit while I was ahead and the money had paid off some debt!???

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Just goes to show that DG Solicitors know exactly what they're doing and are extremely proffesional.... NOT.

 

I'm still fighting to get a cheque from them and have until 9th Sept to complete my AQ, they have offered the full amount but want to pay it into a very overdrawn account which will result in me only seeing about 25% of it.

 

Would you mind letting me know what they put in the letter that you mentioned, I'd be interested to do a bit of digging about it.

 

Oh well, HOPEFULLY the money's on route albeit to late for your hols. Hope you have a nice time anyway:|

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HSBC and their solicitors are a bunch of utter muppets!!!

 

They credited my refund to my account, and then cancelled it, then posted me a cheque, and then another cheque and they have now stopped the first cheque!!!! aaarrrggghhhhhhh Oh well I am not going to acknowledge payment until it clears my account.

REFUNDED

Hubbys - HSBC £4,165 paid 18/8 after MCOL issued :)

HSBC - £651 paid 18/8 after MCOL issued :)

HSBC - £147 Prel 7/8, LBA 21/8, MCOL 6/9 £241

Hubby Halifax - Prel 29/7 £215, LBA 21/8, Offer rec. £110 22/8, MCOL 6/9 £298

Abbey - £2758 - Prel 26/6, LBA 10/7 - MCOL 26/7 £3,391, offer 25/8 £1,755.94, paid £3567.32 after Case manag hearing

Barclays - £675 Prel7/8, LBA 21/8, offer received £300 MCOL 6/9 £998 - Paid £1,012 before going to Court

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LOL well so was I :D

REFUNDED

Hubbys - HSBC £4,165 paid 18/8 after MCOL issued :)

HSBC - £651 paid 18/8 after MCOL issued :)

HSBC - £147 Prel 7/8, LBA 21/8, MCOL 6/9 £241

Hubby Halifax - Prel 29/7 £215, LBA 21/8, Offer rec. £110 22/8, MCOL 6/9 £298

Abbey - £2758 - Prel 26/6, LBA 10/7 - MCOL 26/7 £3,391, offer 25/8 £1,755.94, paid £3567.32 after Case manag hearing

Barclays - £675 Prel7/8, LBA 21/8, offer received £300 MCOL 6/9 £998 - Paid £1,012 before going to Court

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Cheque arrived in the post yesterday morning!

 

Will dig out the legal jargon letter when I get back to work on Tues as it's in my office...

 

Barclaycard are next on my hitlist...

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Would you mind letting me know what they put in the letter that you mentioned, I'd be interested to do a bit of digging about it.

 

Sorry it's taken me so long, have dug out the letter:

 

Given that your accounts are in default and demand has been made HSBC is perfectly entitled to set off the monies that would have been paid to the credit of your current account against the sums outstanding ( Pagets Law of banking Chapter 2 6 (a)(vii))

 

Your original action has been compromised and is therfore at an end. Any dispute you have with the way HSBC has executed that compromise agreement shpuld be the subject of a separate action (Chitty on Contract, 27th ed, 22-014). We have recently been successful in arguing just this point before the County Court.

 

Let me know if you discover anything...

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