HSBC claim with Contractual Interest, advice please.

[whiz_bit]

I am in the process of making a second claim against HSBC this time for my partners account. I have sent the LBA off and got an offer back, only took 30 days, not bad considering I gave them 28.

 

Question is we are chasing £1965.50 plus Contractual Interest. They have offered £1760 and completely ignored the interest, I am not going to accept the offer, can any advice on best course of action to get the contractual interest out of them.

 

Whiz_bit

[Guest bong]

you have to follow exactly the same process as you did for your first claim, ie, prelim, LBA then court.

 

you will need to submit your claim on an N1 form rather than MCOL because there is more wording to fit in. However that is much better because you get the opportunity to attach your schedule of charges and interest to the claim form.

 

Make sure you claim county court interest (on the N1) in the alternative to contractual interest in case you don't win the latter.

[whiz_bit]

Thanks Bong for your reply, I was reading through you thread earlier this evening, I'll pop them a rejection letter in the post. How long would you give them 7 or 14 days?

 

Whiz_bit

[Guest bong]

I wouldn't give them any further time if you've already given them 28 days. As soon as the LBA 14 days notice expires you should make your court claim. Besides it is very unlikely that they will up their offer this side of court proceedings.

[whiz_bit]

I gave them 28 days on the LBA so time is up I guess.

 

Whiz_bit

[andymorris]

hi can anyone point me in the right direction ?

 

i have been a bit lazy at the moment and noticed that in the two weeks that i have not looked at this site a few things changed. I am claiming against hsbc for around £ 4000 on two accounts i am waiting for a reply from my letter requesting the amount allong with a schedule of charges and the 14 days i have given is up tommorrow, now what do i do ? carry on with an lba and add intrest ? i dont want to get this wrong at this stage. please help...............

thanks if anyone can confirm my next step.....

[whiz_bit]

Hi Andy,

 

Send the LBA letter keeping to the original timetable. If the interest you are referring to is the 8% court interest then it is important you don't add that until you file the claim with the court. If you are thinking of adding Contractual interest then my understanding is that are better starting again with a new prelim letter stating that are also claiming constractual interest, I am using 15.9% for mine, There is a spreadsheet for working it out in the library.

 

Hope this helps

 

Whiz_bit

[Bigmac versus]

I was in the same position earlier, i had sent prelim and lba without stating i was claiming contractual interest so i resnt prelim and lba ststing i was claiming contractual interest, then filed it.