Clarification on charges

[Movingon]

Isn't it Section 69 of the CCA?

[Damon999]

I don't know. I got that from the FAQ's so I'd of thought it would be right unless there's been a small error

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?t=243

[Damon999]

Just done a google and it does look like it should be section 69.

[Damon999]

Well, after some deliberation, I sent the letter a couple of days ago and we'll see what happens from here. I suspect they will not pay up any of the amount and I will have to file for court proceedings. Wether they'll pay the full amount then or it will end up in court is anyone's guess but it'll be interesting none the less

[Damon999]

Well, I received a reply rom Phil Beamont whilst on holiday. Unfortunately, it was the exact duplicate of a letter I received before my initial letter before action so not much time has gone into it lol.

 

Anyway, I have received no payment of any sort, so I will now pursue court action for the full outstanding amount, plus the 8% interest. Wonder if they'll let this one go all the way lol.

[maverik1979]

keep us posted as to whats going on

[Damon999]

Ok, I have filled in the Moneyclaim form. Annoyingly, I spent ages typing the particulars of claim and then clicked next and it came up with an error as it had been over 30 minutes and wiped it all so I had to start again.

 

Here are my particulars, is there anything I should change before coughing up £120

I had an account,******* with HSBC Plc until

26 Jan 2005, during which HSBC Plc debited

several charges from my account in relation

to purported breaches of contract and also

interest on these charges. I contend that

these charges are punitive in nature, are not

a genuine estimate of, and exceed, costs

incurred by HSBC Plc in respect of any

breaches of contract on my part, and are not

intended to represent or relate to any

alleged actual loss, but instead are applied

with a view to profit. As the charges were

applied under contract, they are contrary to

Unfair (Contracts) Terms Act 1977, the Unfair

Terms in Consumer Contracts Regulations 1999

and common law. I request repayment of these

charges and the interest applied on them

which total £1129.56. I also seek

reimbursement of court costs and claim

interest under s.69 of the County Courts Act

1984 at the rate of 8% a year from 3 Feb 2002

to 11 June 2006 of £249.85 and also interest

at the same rate up to the date of judgment

or earlier payment at a daily rate of £0.25.

[maverik1979]

seems fine in the wording, one thing though are you sure your daily interest is correct?

[Damon999]

I think it is. I looked at other posts to find out how to calculate it.

 

I did 1129.56 * 0.00022

 

Is that right?

[alanfromderby]

Looks fine to me.

[Damon999]

I have now completed my court claim and will now await the response, if any, from HSBC. I have PM'd BankFodder with the details. Fingers crossed.

 

Thanks for all who have helped me so far.

[Damon999]

Claim is deemed to be served on the 17th June.

 

1st of July is Judgment day

[Damon999]

Well, the lovely people at HSBC acknowledged the claim yesterday (15/06/06), presumably trying to drag it out for some reason (maybe in hope of their solicitors having a breakthrough lol).

 

Anyway, as the claim was deemed to be served tomorrow, do they have 28 days from tomorrow or from when they acknowledged the claim?

[Movingon]

I think it's 28 days from the notified service date. They have responded by acknowledging really quickly; not sure how they're "dragging it out".

[Damon999]

Thanks but what do you mean by the notified service date, is that the date it's deemed served, ie. tomorrow?

 

The reason I said they must be dragging it out is because they now have 28 days to respond instead of the 14 they would have had if they had either ignored it or sent in their defence:D

[Movingon]

Noooo - you're confused.

 

They have 14 days to acknowledge the claim. If they do so, that's extended to 28 days for them to file a defence. They can't just file a defence without acknowledging the claim first.

 

But anywayz up - they often settle before the defence goes in... so you're not that far off now. I haven't even had an acknowledgement yet and I have the same service date as you

 

Yes - it's tomorrow they get their 28 days from.

[GriffinGrumbler]

I've only just caught up with this thread, so apologies for being late to the party.

 

I hope you calculated the interest correctly, or this could get very interesting (if you pardon the pun).

 

The 18% interest rate is annual, so let's say a £100 charge puts you £100 over your limit (for the sake of argument) and you stay there for 10 days.

 

The 18% unauthorised interest on the unlawful charge would therefore be:

 

£100 * 0.18 = £18 / 360 days in a year = 5p per day x 10 days = 50p.

 

Unless you were over your overdraft by £1000 for a complete 365 days in a year, and this was all charges, there's no way you could be charged £200 in interest on these charges.

 

I'm pretty sure this is correct - the interest on a £5000 credit card balance for a month at 18% is only £75

 

GG.

[Movingon]

I think that you can rest assured that he's calculated the interest correctly.

[GriffinGrumbler]

Like I said - I'm no expert! I'm sure you're right.

[Damon999]

StoneLaughter, thanks for clarifying that. I confuse easily lol.

 

GriffinGrumbler, welcome to the party. To the best of my knowledge, I have calculated the interest correctly. The account was in overdraft the majority of the time, hence the large amount of interest. I did check my calculations against their monthly interest on the total overdraft and they did seem quite accurate. I even played it on the safe side, so I think that if they dispute it and calculate it themselves, it would actually be a few pounds more lol.

[Damon999]

GriffinGrumbler, I have just checked my calculations and they are as per your post

 

Thanks for clarifying it

[GriffinGrumbler]

I stand corrected

 

Good luck with your claim!

[Damon999]

:D :D

 

I have received a letter from DG Solicitors today offering £1499.41 (full amount plus interest and court fee) with the usual crap about they think they would win but can't be bothered (yeah right).

 

Anyway, success thanks to this forum (donation to follow on receipt of funds).

 

Two more questions, can I cross out the 'keep it confidential' bit and still get the money and what do I do about cancelling the court claim?

 

Thanks for your help everyone:D

[Movingon]

I wouldn't cross anything out; I would write my own letter back in my own words accepting their offer in full and final settlement of this matter only... and accepting no conditions.

[Movingon]

Oh, and

 

CONGRATULATIONS!!!