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Hsbc Charges


newmoses
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I have a £1,000.00 overdraft agreement with HSBC.i have just returned from 2 weeks holiday and ended up going nearly £400.00 over my overdraft limit.I looked at my situation online only to find that HSBC has charged me £25.00 for going over my limit and an additional £150.00 for charges and interest.Surely that is excessive!!.Well, I have decided to turn the tables on them.I have a had a few loans from them in the past and currently have a £12,000.00 mortgage (around £3500.00 left to pay), which has insurance cover against sickness, unemployment, inability to work etc.My qquestion is.As people in the past have claimed compensation for insurance cover they either didn't want or need, can I claim compensation for insurance cover I have had in the past? How many years can I go back?Will HSBC give me copies of the loans I have had?How do I go about making a claim? Who do I write to ? What do I put in a letter?I was considering using one of these "no win, no fee" companies but have heard of so many instances where all the compensation has been swallowed up by their charges, which is one reason why I have not bothered seeking compensation.Any help would be greatly appreciated.

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Hi Newmoses , :)

 

First af all , have you tried going into your branch , see the manager face to face and ask him (politely and calmly) to explain and refund these charges - you will have to bear the interest of course , but the other charges are a different kettle of fish .. managers have authority to refund these as a 'one-off, goodwill refund' if you haven't had this before .......

 

 

If they refuse , tell them you'll move your account elsewhere , ask for the manager's name , (tell him/her it's for your report to HSBC management and the ombudsman..... )

And I wouldn't think there's anything to prevent you moving your mortgage to another provider either ?

 

As for the other query , on PPI .... it depends on whether you agreed to /asked for Insurance on your loans .. if you can prove you didn't, or you were ineligible at the time the loan was taken out i.e. unemployed , self-employed or had a prior illness which would bebar you from benefitting ffrom the Insurance pay-out .... then you should post your query over on the PPI site .... there are some very good advisors on there who will guide you through the procedure ...

 

Payment Protection Insurance (PPI) - The Consumer Forums

 

If you want copies of all your loan agreements (to find out about PPI etc), send a CCA request together with £1.00 (preferably postal order or cheque so you can trace it's cashing) ...there is a template on here which you can use and they are bound by the Data Protection Act to provide you with this info within 12+2 days of you posting it ...... (send 'Recorded Delivery ' )

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html#post162353

 

Letter 'N' is the on you want on here ...

 

I think that's given you enough to go on with for the moment, newmoses , but if and when you need any more info/help ......you know where to come ..... :) it may not be me , but someone will answer ..... :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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