My fight against the Hong Kong Shanghai Dragon (HSBC)

[ansvar]

Hello all

 

I have recently become a member and have actively read alot of the information on the site and now feel im ready to pursue my bank for recovery of their ill gotten gains (bank charges).

 

As some forums had mentioned, if you ring up HSBC they will send you the statements for free and it's quicker then sending the Data protection letter. Well that was 20 days ago and after getting back from paris yesterday i had a letter waiting. It looked alittle too thin to be 6 years worth of statements!! and unfortuanatly was a standard letter informing me the statements will be dispatched shortly in batches.

 

Well im very lucky then, that after reading further threads a couple of days after the phone call i learned that on the HSBC site you can print all the statements off for six years!!! Only people who have got the high lighter out and selected all the money that has ever be taken from them will understand the absolute great feeling it brings, especially when you see the total. After 6 years of banking services i have been charged £1642 in overdraft charges.

 

My Prelim was sent on the 18/10/2006 and as of yet have not received a response!! So in anticipation of no letter being received i have readied the LBA letter. Just a few questions if anyone can be of assistance.

 

Can they offset the settlement against my outstanding loan with them?

Should i include interest with the LBA or wait?

What is the difference between issueing online and going to court in my area.

 

Any help would be appreciated including comments regarding the whole process.

 

Best regards,

 

Philip

[lateralus]

i'll give this one a go: not sure if they can offset, don't think they can unless you have defaulted on the loan. you can certainly request your money in cheque form in your letters in response to any offers.

next, as for interest, back up just one tiny bit - with your highlighter in hand - did you see all those interest charges relating to your other charges. may not look like much - but they all add up. if you use the complex spreadsheet in the steps to getting your money back up above - it very nicely adds them into your spreadsheet and you come up with two totals - the blue column is for charges and the yellow for interest - added together they make up your basic claim.

you are asking for a return of the unlawful charges which have been imposed on your account and a portion of the interest levied on those charges. so you may be looking at another hundred or so or maybe more (the amount of the interest added depends on your balance at the time you were overdrawn - that's the beauty of the spreadsheet - it does all the work). now - as the bank has money that you are claiming - at the time you file your claim with mcol or your local court - you can then (and only then) add 8% interest to your claim (the simple spreadsheet does this one for you) use the date that you will be claiming (i.e. 14 days from the lba which is 14 days from your prelim letter). i should mention that there is this whole thing going on about contractual interest versus the regular old 8%apr interest and if you are considering the contractual interest - you'll have to get someone else to advice you as i drop out at this point. so in answer to your second point - when you send your schedule of charges with the lba, that will include the interest you are trying to reclaim that they have charged you but not the 8% apr on the whole amount (that goes on when your file)

the basic difference between online and using the n1 for county court is the county court one gives more room to explain your case. the mcol is very easy, very straightforward and instantly accessable and i had little problem paring my claim down to the room given - they don't require all the little details - there is a sample of the particulars shown and i can send you mine, if it helps.

if you are like most everyone else, you probably won't hear a thing from the bank until you file against them - then it will be through their in=house solicitors

dg solicitors.

You are a very good boy, Philip, for reading and then asking intelligent questions and not just asking for someone to do it all for you.

I'm just a mom who got involved helping out her errant son. He put his refund on to his loan and I'm now hooked on this site. Good luck, we are here when you need us.

[ansvar]

Hello all,

 

 

Well, had no response to the prelim so sent the LBA on the 4th Nov.

 

Getting close to issueing MCOL now so looking for some assistance from the greater public on some issues i have.

 

Ive tried editing the complex spread sheet to work out contractual interest of 15.7% which is HSBC's rate instead of the county court 8%.

1) can i apply contractual interest instead of 8%? and is my formula correct, and if not what should it be?

 

 

The correct formula for 8% is =(C9*0.00022)*E9

 

The formula for 15.7% is =(C9*0.00043)*E9

 

I'm also trying to add debit interest to debt but not sure if doing it properly, used complex spread sheet, put in all details requested but not sure if correct.Also, no section on it to add interest on penalties for MCOL. Is it possible to email to somebody to check for me please???

 

Im starting to get a bit excited by this whole process. Nearly as good as getting income tax back. Does any one know how long and when HSBC normally settle??

 

If any one can be of assistance, much appreciated.

 

Best regards.

[Somecamel]

Yer I think ur doing really well, Im so happy somebody told me about all this Maybe we should start donating say %10 of what we get back to the people who told us and maybe %20 to CAG

[ansvar]

Hello,

 

 

4 days from issueing MCOL, its getting closer and closer to sweet social justice. I'm more looking forward to winning(David VS Galiath) then actually getting any money.

 

Ive completed most of the N1 form but not sure on some points i.e. filled in the partuclars or claim with help from Bankfodder template but what goes in "brief details of claim". My biggest issue,!!!!! i started the claim with an idea of claiming the 8% when i issue, but after reading some interesting threads i learned a lot about contractual interest. HSBC's interest is 15.7% and i want to claim this, read else where needs to be included from prelim stage, can anyone advise on this?? can i still add to MCOl if not included previously as is normal course of action when claiming 8%. i really hope i can as diff of bout £300 on claim!!! any help would be greatly appreciated.

 

Also, read the most amazing thread yesterday regarding a moderator

http://www.consumeractiongroup.co.uk/forum/halifax-bank/3962-jonni2bad-halifax-got-money.html?highlight=halifax, this case is like a thriller, its a must read.

 

All the best,

 

update you all soon

[Guest bong]

Hello,

 

 

4 days from issueing MCOL, its getting closer and closer to sweet social justice. I'm more looking forward to winning(David VS Galiath) then actually getting any money.

 

Ive completed most of the N1 form but not sure on some points i.e. filled in the partuclars or claim with help from Bankfodder template but what goes in "brief details of claim". My biggest issue,!!!!! i started the claim with an idea of claiming the 8% when i issue, but after reading some interesting threads i learned a lot about contractual interest. HSBC's interest is 15.7% and i want to claim this, read else where needs to be included from prelim stage, can anyone advise on this?? can i still add to MCOl if not included previously as is normal course of action when claiming 8%. i really hope i can as diff of bout £300 on claim!!! any help would be greatly appreciated.

 

Also, read the most amazing thread yesterday regarding a moderator

http://www.consumeractiongroup.co.uk/forum/halifax-bank/3962-jonni2bad-halifax-got-money.html?highlight=halifax, this case is like a thriller, its a must read.

 

All the best,

 

update you all soon

 

hi ansvar

 

I think you're confusing N1 and MCOL. The N1 form has to be taken or posted to your local court, MCOL is the courts online claim facility.

 

On the N1 form at brief details of claim put "Money Claim as outlined in the Particulars of Claim."

 

I think HSBC's standard overdraft rate is 15.9% (unless it's changed recently)

 

You would definitely need to write at least one more letter to the bank informing them of your claim for contractual interest before proceeding to court. Its not that they're likely to settle, it's just a pre-action protocol.

I would recommend that you give them another 10-14 days, 7 is a bit short with post delay aswell.

 

Good luck with it:)

[ansvar]

Hello all,

 

Sorry for not updating sooner been a very eventful month for me and recovering charges.

 

Submitted claim to county court back on 24th nov, D & G acknowledged within 4 days and sent an offer for £1400 which i think was a good opening offer. Turned this down and a week before defence due on 15th Dec had another offer of £1700 i reluctantly turned down this offer as well. Hoping for something closer to my claimed amount detailed below:

 

Charges £1684.00

Debit interest £127.25

Court fee £120.00

Contractual interest(15.9%) £606.35

Total £2537.60

 

HSBC have now entered a defence same old nonsense as their sending everyone else. Have also received AQ which is due 12th Jan. To try and speed up claim, tried ringing them yesterday to discuss but their's one man in their office til 2nd Jan who is just taking messages. Ooo, it took me ages and alot of discussion to get these numbers for D & G Solictors and other HSBC numbers.

 

0121 455 2206

0121 455 2660

0121 455 2111 (Debbie)

0121 455 2196 (Katie)

HSBC legal department in London 0207 9117154.

HSBC leeds office:0800 88 11 55 or 01226 261020.

Now i need some advise should i just submit AQ and await further offers and court date or ring and negotiate on the 2nd?? Also, i'm going for contractual interest, has there been any successful cases against HSBC for this??? Should i settle or can i get the whole lot. Help would be very much appreciated.

regards, Phil

[Guest bong]

hiya,

 

I wouldn't recommend that you submit the AQ just yet, you've still got a bit of time on your hands so there's no need to panic. I'd give it until the end of next week (5th) and if you haven't heard anything maybe call to remind them of the AQ date and the additional court fee that you will be incurring. Try not to get into discussions or negotiations as they may detect a weakness, I'd hold out for the full amount and see what happens.

 

Keep us posted!

[ansvar]

Had a letter this morning from D & G solicitors, same old letter but offering £1960.00. total claim is £2200 at 8% but i've been going for contractual and claim amounts to £2550. My AQ is due 12th January. Should i decline and pay AQ and if i do will i get it all in the end ??? or is this the best i can get??? help appreciated. thanks

[lateralus]

i may be wrong (often am, lol) but i think those other offers you had - if you look at them were probably from hsbc, not dg. that usually happens - you are getting very belated offers from the bank, but once you file the claim, you are dealing with dg. now - this is probably the first offer you have had from dg if you look closely, right?

we have said for months now - when you get that first offer - you are only one week away from a full offer. the only tiny- tiny hesitation i have is the contractual interest bit of which i have almost zero experience, but i' am sure! some have gotten in. my advice, for what it's worth, is use the rejection letter (i'll pm you mine from the same stage) and hold out for the full, 12th is still a week away - if in fact you were to be holding a full offer by say next wed, even thurs, even fri (if your court is local and you could walk the aq in at the very last second) you could then, if you had an offer ask the court to delay the aq deadline as you have an offer, accepted and are waiting for payment which they would grant without having to actually file.

so, reject offer, let dg know in letter thta you will be filing (say it anyway) your aq by the middle of next week if you haven't heard from them and see how you go. i'd get this letter written NOW - and fax it over if possible - then they have it today - even call later today to see if it arrived. right, going now to pm my letter to you.

[lateralus]

ok??? what happened today?????

[ansvar]

Hello

 

Wrote my decline offer letter, thanks for yours, then faxed it over to them. Also rang and they confirmed receipt.

 

Im starting to get very excited that money will help buy my first car. So do you think they will settle before AQ then?? i hope so, another £100 court fee in January would make this month very tight.

 

O, forgot to put this on other day. Got letter from HSBC informing me i was being charged £66 for going overdrawn in December, Damm them!!! I gave them a call and demanded they withdraw the charges and got the ole rubbish about policy and breaches of contract so spoke to a supervisor and informed him he had two option 1) charge me and i put in a court claim next day for recovery of charges causing them court fee of £120 on top of my £66 back or 2) take them off. He hestitated for a min then said on this occasion will remove. From now on its going to be every occasion!!

 

I think im nearly there, it only took 2 months and actually been really good fun learning all this new stuff and obviously talking to all the great people on this site.

 

 

speak soon. o help on AQ query appreciated.

[lateralus]

if i may (as an elderly lady, mum type) don't get too cocky with the success on the phone in thinking it will be that easy anytime you get charged - it won't. best not to get the charges in the first place - also, they could say you aren't managing your account properly and they could give you notice that they are closing it.

i'm just saying - try to curb the charges - don't depend on them being reversed every time. i love the enthusiasm, just don't let it boil over into cockiness, ok? lecture over.

now, as for the aq. that offer was from dg for sure, right? and you've declined it and they received that, and they know you will be filing your aq shortly. i'd ring again - monday afternoon or maybe tues morn. - just say you've had a offer, which you've rejected and were wondering if there will be another offer to you before you need to file your aq. just see what they say - emphasize that you are trying to save them some money because "obviously" i will then require another £100 to settle the claim.

Allocation Questionnaires - A guide to completion check this out - you need to be prepared to file it if you haven't had a success offer before the 12th (is it close to you - the court - you can walk it in up to 4pm on the 12th but you must file it if you don't have the offer - don't fail to do that).

if, between now and then you get your 100% offer, ring the court and ask for a delay on the deadline as you've received and accepted an offer but are waiting for the money. keep us in the loop.