HSBC and liquidated company, can I claim?

[ZENTRIX9]

Just remembered we had a loan too to bring down te overdraft at one point, cant remember the exact amount but I think it was around £10k - £20K. Is that something we may be able to look at too?

[andrew1]

When you say 'we' who are 'we'?

 

Try to factor in my thinking here that a personal loan would be subject to being CCA regulated.

[ZENTRIX9]

We, means the company.

I have looked on SAGE and there is approx £250K in Directors loans that were still in the company that we put in (mom, dad and me).

Heres a link to my thread below which also includes the details for the factor company which ripped us off!

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?305872-HSBC-and-liquidated-company-can-I-claim&p=3440537#post3440537

[andrew1]

Did the company go into liquidation with a large amount of creditors? - if so how much?

 

Can I ask if you can break down that figure of £250,000 of loans you took out and how and when they came about, what they were for etc?

[MARTIN3030]

Yes if they were regulated under CCA that does change things.

Going back a few years using the limitation act should not pose too much of a problem,although determining a starting point of awareness,ultimately will depend on the cause of action you choose to use.

When was the account set up ?

[andrew1]

Yes if they were regulated under CCA that does change things.

 

 

That was what I was angling for Martin, it could make a difference.

[MARTIN3030]

Yes I may have fared better with my Barclays tussle if I had introduced it-but back in 2006/7 we didn't really know what we do now.

I did win the right to have my case allowed to run in consideration of Limitation-despite them putting up a fight with a barrister-a sep hearing is needed for this.Should it be needed I would be happy to provide a Witness statement giving details of this for others.

Barclays was no easy feat and took 2 years of fighting-they will pull every stunt known to man.

I think that it is a good idea to attack this with other arguements thrown in too-like unfair relationship,and fiduciary duty of care.Much of the play Barclays made in my case was to dispute my right of reliance as a consumer.

I do feel if there is a cause of action-that provision be made to run a thread out of their view-which I can sort out.

You could also read some of the very lengthly issues discussed and thrown in on my own case.

[ZENTRIX9]

Did the company go into liquidation with a large amount of creditors? - if so how much?

 

Can I ask if you can break down that figure of £250,000 of loans you took out and how and when they came about, what they were for etc?

 

Hi Andrew, I will try and do it later today.

 

I know that some of the money put into the company was done so because of cash flo issues.

 

Sometimes we had over £100k outstanding on invoices.

 

I think the bank manager saw this as an easy target and talked us into invoice finance (which I personally think was mis-sold) which killed us off.

 

If a company takes out a loan and you sign a personal guarantee for it does it then become regulated by CCA as if it was a personal loan?

[ZENTRIX9]

There are bank charges to claim back. I have records that go back 10 years, what do I do now.

 

Do I make a list and send it to HSBC and ask them for it back against the personal guarantee they took with interest.

Any views will be appreciated

[MARTIN3030]

Yes a preliminary letter would be the first point of call-especially will be interesting to see how they respond.

The problem might be that they will see bank charges and immediately dismiss it-so I would advise against anything looking templated.

[ZENTRIX9]

Is it all bank charges and interest I can claim for or just specific charges?

 

Shall I just send a list of charges and dates and see if they offer anything, then add interest, accumulative etc etc

 

Now I will be sending this based on them claiming with the personal guarantee.

 

Is there a ceiling for the amount claimable or is it just the amount of the guarantee plus interest?

What would you suggest.

 

We are talking over £20K here.

They may settle to stop things going further as it could set a president and open the floodgates for them, what a shame.

 

We can but hope.

[MARTIN3030]

There is no ceiling as such.Obviously anything over 5k would take it out of SCT so there is always exposure to costs.

[ZENTRIX9]

SCT? and exposure to costs? Can you elaborate a bit. I dont know what you mean. Thanks

 

Oh, dont forget this is a Ltd company that Was liquidated November last year and the director forced to pay £20K personally because of a joint and several guarantee. If it makes a difference.

[MARTIN3030]

Small claims track (SCT)

Max can claim is 5k -but does not include interest or costs.

Over this amount would go into fast or multi track where all costs from the other side would be claimable if they won.

I have no doubt if it got that far they would put a Barrister on this one.

[ZENTRIX9]

Thanks Martin, I would think that they would settle before going that far as it may do them a lot of harm with the publicity and risking losing would open the doors for a lot more claims

[MARTIN3030]

Well its one way of looking at it.

On the other hand,they monitor these forums,and know the power of CAG.

I t doesnt need any precedent to make them worried,a reported result from a CAG member has shown to be a big thorn in itself.

[ZENTRIX9]

Yes a preliminary letter would be the first point of call-especially will be interesting to see how they respond.

The problem might be that they will see bank charges and immediately dismiss it-so I would advise against anything looking templated.

 

Can someone help me with the preliminary letter? Please.

[Ibsys]

Do have a link to "Article 6" so I can read it? I dont know what to look for.

 

Article 6;On pre written contract it can be that some terms in the contract does give an unfair balance to one party so are not therefore legally binding. A pre written contract with terms not individually negociated can give that unfair balance. It was entered into law in the UK under the UTTCC Act 1977............ If you put in the search from anything about the above paragraph you can probably see examples. Just looking at this act where I see examples of contract between business and affects all contracts. http://en.wikipedia.org/wiki/Unfair_Contract_Terms_Act_1977Look at tort, contract, UTTCC. Case law as in "like for like".

[ZENTRIX9]

Thanks Ibsys i will have a read.

[ZENTRIX9]

Well heres an update

 

I sent HSBC Invoice Finance an email earlier this week saying that they had linked the 2 companies and one had paid the others debts etc and that I believe that they should refund me the money plus compensation.

 

I had a reply from DG Solicitors anting on their behalf.

 

They are saying they wont deal with me as I am no longer a director due to the company being liquidated and they will only deal with the liquidator.

 

They say the contracts are fine, they have done nothing wrong and that they will defend if I take it further.

 

It looks like they are trying to stop me taking things further by saying I have no rights.

 

What now?

Any thoughts?

I can post the letter if it helps.

 

Have any thoughts on what to do next?

[dx100uk]

posts from another thread merged here

so's it in one place for you

 

dx

[ZENTRIX9]

Thanks dx100uk, whos the best on here to ask for advise on thie matter?

[dx100uk]

id ping martin3030

or hit the triangle

 

dx

[gina g]

Hi Zentrix

 

 

How did you get on with HSBC Factoring. I am still in the process of taking them to court/hearing. It will be interesting to find out your outcome. What they did to your mum and dad is disgusting and I know how you feel as the same happened to me.

 

 

Well heres an update

 

I sent HSBC Invoice Finance an email earlier this week saying that they had linked the 2 companies and one had paid the others debts etc and that I believe that they should refund me the money plus compensation.

 

I had a reply from DG Solicitors anting on their behalf. Basically they are saying they wont deal with me as I am no longer a director due to the company being liquidated and they will only deal with the liquidator. They say the contracts are fine, they have done nothing wrong and that they will defend if I take it further.

 

So, it looks like they are trying to stop me taking things further by saying I have no rights.

 

What now? Any thoughts?

I can post the letter if it helps.

[andrew1]

Just as an aside, DG solicitors were, as far as I recall not solicitors at all (see Wonga stuff) and were one of these so called solicitors who have been caught out as such, be interesting if DG actually took legal action as solicitors and what can be done about their legal action. This was just some in-house made up name....for all your issues I'd suggest that you check out exactly what these so called 'in-house' solicitors were legally able to do as there is a misrepresentation by the bank.

 

Check out what I say as I'm only picking up what I think I've read and can't substantiate what I am saying 100% and we wouldn't want you saying things that are not 100% true, but check it out on the Wonga threads because I think I may be right. Perhaps someone on here will do that for you if they have more experience than I.

 

A1