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Steve806 v HSBC


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Hi All

 

I have written my letter to my bank and they have provided my statements.

 

I have listed the charges imposed but I am not sure about the interest???

 

My account was not permanently overdrawn so can I still claim the 8% interest from the date of each charge.

 

The majority of my charges were imposed in the last 12 months when my bank charged me £100 a month for being £300 overdrawn for nearly ma year.

 

Any advice welcome

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Hi - take a bit of time to read up first to make sure that you have the facts before going too far ahead. Read the FAQs and template letters then have a good read around here to see how others are getting on. Keep any progress on your own claim or questions that arise in a new thread in the forum for your bank to make it easier for others to follow and advise you. There's a set of links in my sig below that will help you find where all this useful information is. Well done for getting started! :)

 

There's two distinct lots of interest applicable here and you need to get them straight in your mind first.

 

When you had a charge deducted from your account this lowered your bank balance. Over time the accumulated total of these charges may have driven your account into overdraft, and maybe past your limit. The bank usually charges you interest on the overdraft balance. Some of the interest paid could be due to genuine use of your overdraft, but over time the accumulation of charges will mean that the proportion that is due to charges will be greater, even up to the whole amount. There is a spreadsheet available (see my sig below) that will work out how much of the interest they have charged you is down to the charges. Note that it's the complex version that is required to do this calculation. This interest on charges IS reclaimable as part of your initial claim.

 

When your claim gets to the stage when you have to issue a summons for repayment of the monies owed you are entitled under Section 69 of the County Courts Act to add interest at 8% to the amounts you are claiming. The spreadsheet will also calculate this amount.

 

In your initial claim ask for the charges back, plus the calculated interest on those charges. Only when you raise your court paperwork can you claim the extra 8%.

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

DONATE - Support this site, it supported you!

Follow the route: FAQs > Template Library > Parachute Account > Bank Forums > Spreadsheet

All advice given in good faith and without prejudice or liability, to be taken at your own risk!

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  • 4 weeks later...

Hi All

 

I am trying to reclaim £1844 from HSBC for bank charges. So far I have:

 

1. Requested details of all charges (response received within 5 days and they declined £10 payment)

2. Written approach letter and enclosed list of charges (no response received)

 

I am now preparing to send letter advising threat of court action. Am I correct in assuming at this point I am still not asking for interest (just send list of charges again) and that I do not request interest until court action?

 

Also, does it appear I have missed anything?

 

Any advice gratefully received as I dont want to mess this up.

 

regards

 

Steve

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yeah your doin fine, no interest at the mo! it doesn't look like you've missed anything!

I QUESTION THEREFORE I AM!! [sIGPIC][/sIGPIC]

 

Unfortunately i'm not an expert in any given field legally and my advice and that of the Consumer Action Group and the Bank Action Group is given without prejudice and without liability so please if in any doubt whatsoever seek help from an insured qualified professional. Contents of my posts are purely my own personal opinions and not condoned or endorsed in any way, shape or form by CAG. Thank you! :p

 

 

I have been smoke-free for 4yrs

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  • 3 weeks later...

Hi All

 

The two weeks before legal action is due to expire in a few days and I have not heard from HSBC.

 

Thye have not responded to either of my letters. Should I be worried by this? Has anyone else dealt with HSBC and is aware if this is how they usually deal with claims for refund of charges?

 

Finally, how quick off the mark do I need to be in applying to courts? I am due to be away on business for a week as the 14 days expires. Can applying to court wait until I return?

 

Any guidance gratefully received.

 

regards

 

Steve

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You will be free to start the court action

It is not unusual for them to fail to respond,especially where they have indicated to you earlier if that is the case,that they will not be refunding.

 

Have a look at some recent settled action from Hsbc claimers to get some idea how they are working.

 

You should be ok to submit if you are only going away for a week,as there is nothing that thie timescale would require of you,It is likely that you would have papers waiting to address on your return but would still have ample time to attend to that.

 

Up to you then......no reason to give them longer !!

Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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Hi

 

I have been reading other posts regarding HSBC and there seems to be a common experience that does not match mine which worries me a little.

 

I have taken the following action:

 

1. Requested bank charges and enclosed £10 payment

2. Letter received advising statements will be sent to me and cheque for £10 returned

3. Sent prelim letter requesting charges refunded.

4. No response received to this letter.

5. Sent letter advising threat of court action.

6. No response received to this letter.

 

Most others seem to have received offers to settle in response to letters and I have had no response at all. I am a bit concerned by this. Should I be?

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I wouldn't worry at all - they don't always get round to replying to everyone. Just stick with your timetable - the arrival of court papers will wake them up!

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

DONATE - Support this site, it supported you!

Follow the route: FAQs > Template Library > Parachute Account > Bank Forums > Spreadsheet

All advice given in good faith and without prejudice or liability, to be taken at your own risk!

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  • 3 weeks later...

Hi All

 

I am about to take court action and wondered if any of you could answer a couple of questions for me?

 

1. How much are the costs I have to pay to submit claim?

 

2. Typically how long will I have to wait for a court date?

 

Thanks in advance for any advice

 

kind regards

 

Steve

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The cost depends on how much the claim is for and normally takes a couple of months to get a court date (thats if they haven't paid before).

 

Slinky

**WON** 09.11.06 MBNA No 2: £1876.28 Credit Card Charges

**WON** 25.10.06 CAPITAL ONE: £656.67 Credit Card Charges

**WON** 19.10.06 ABBEY NATIONAL (4524): £523.43 Bank Charges Claim

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Hi All

 

I have sent letter to bank advising I will take them to court and received no response.

 

Should I proceed straight to application to court or write another warning letter to bank (as I have had no response to any of my letters which I confess continues to worry me as other seem to get some sort of response - could I be using the wrong address - I am using address my statements come from).

 

Also, I have established court fee is £120 (claiming £2100) but I understand there is a further fee for trial if required. Can anyone advise how much this would be?

 

Not a wealthy person and concious of increasing costs in the run up to christmas.

 

any help appreciated.

 

Steve

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Thanks for the really quick response.

 

The Bank is HSBC and the address I have been writing to is

 

HSBC

PO Box 230

8 Canada Square

London

E14 5RT

 

 

Will revert to the banks forum after this thread has been answered

 

thanks again

 

Steve

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Hi Steve

 

I've been doing exactly the same to the same address with HSBC and have recieved no reply whatsover, so will be keeping a keen eye on what happens with you. I was wondering about making a call, but think that will merely give them an excuse to delay.

 

Good luck and I'll be keeping an eye open for updates!

 

Hels

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Hi

 

I think I'm in the same boat as you. Had the £10 for my statements sent back, sent off the letters and received a eply in Sept. stating that their answer was a firm no! I have finally found the £120 court fees and submitted my mcol today.

 

I am just worried because I have now committed myself to the £120 and am concerned that HSBC will put up a fight as I had to declare myself bankrupt last year because of the charges they were imposing and I had a lot of debt written off with them!

 

Any words of encouragement or advice from anyone in a similar situation would be appreciated.

 

Sozza

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  • 2 weeks later...

Hi All

 

Yesterday I received a letter from HSBC. They have offered a settlement figure of £1085 against charges of £1276.50. Firstly I submitted a claim for £1845 not £1276.50 so not sure why they are qouting much lower charges figure.

 

HSBC have said this is an offer without accepting liability and that they are only settling to avoid court fees they cannot reclaim. They have stated they are confident they would win if I go to court but wish to avoid the fees. They have said I should reply within 10 days to accept the offer.

 

I will not be accepting their offer as I have calculated the charges as much higher than their offer.

 

What should I do now?

 

Should I send a reply declining the offer as the amount owed is £1845 and I wish to receive this in full and request this is refunded within 14 days or I will proceed with court action.

 

HSBC have suggested that I contact Ombudsman if I am not happy with offer but I suspect this is a stalling tactic and I should proceed with court action instead.

 

Any thoughts on next steps appreciated.

 

regards

 

Steve

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Hi All

 

Yesterday I received a letter from HSBC. They have offered a settlement figure of £1085 against charges of £1276.50. Firstly I submitted a claim for £1839 not £1276.50 so not sure why they are quoting much lower charges figure. I have rechecked my statements and they show £1581 in overdraft fees, £200 in card miss use fees and £58 in returned cheque charges. Can I claim all of these?

 

HSBC have said this is an offer without accepting liability and that they are only settling to avoid court fees they cannot reclaim. They have stated they are confident they would win if I go to court but wish to avoid the fees. They have said I should reply within 10 days to accept the offer.

 

I will not be accepting their offer as I have calculated the charges as much higher than their offer.

 

What should I do now?

 

Should I send a reply declining the offer as the amount owed is £1845 and I wish to receive this in full and request this is refunded within 14 days or I will proceed with court action.

 

HSBC have suggested that I contact Ombudsman if I am not happy with offer but I suspect this is a stalling tactic and I should proceed with court action instead.

 

Any thoughts on next steps appreciated.

 

regards

 

Steve

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Hi Steve, this is the letter you need to send (modify it if you have not yet sent your LBA) - http://www.consumeractiongroup.co.uk/forum/bank-templates-library/25716-rejection-settlement-offer.html#post200477

 

Are the overdraft fees £1581 you've mentioned all fees or is there any overdraft interest in that figure?

 

You need to post your queries in the HSBC section and I would recommend reading some other HSBC threads as well, where you will find that this is the tactic they are employing with everyone. I don't know how they arrive at some of their offers! :)

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you can claim the card misuse fees and returned cheque fees.

 

just want to make sure you've got the right figures for overdraft fees - what was the description on the statement for this?

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yes that's the right thing to do for the county court interest that you claim when you go to court. But if you want to get some of your overdraft interest back you have to ask for it in your pre-action letters. The logic is this - if your account is overdrawn by £50, and that includes a charge of say £25, you are entitled to claim back half of the overdraft interest because it was caused by the charges. There are spreadsheets to work it out for you.

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