Raaydaar vs HSBC

[raaydaar]

Hi all, well here we go down the road of getting back the charges.

I've got my statements from the internet banking and am in the process of collating all the charges from the last six years.

 

One question though before I send th einitial letter, and I apologise if it has been asked many times before but I can't seem to find it using the search function.

 

Do I need to write to them requesting details of all manual intervention on the account prior to submitting my claim? Or can I go ahead without requesting this information?

[Guest bong]

you can include a request for details of manual intervention in your prelim letter

[raaydaar]

Thanks, I've been through the statements from 2001 to 2005 and the charges without interest come to just short of £4000, I know that to include the charges from 2006 will take me over the £5000 mark, so I will start off with the 5 years to 2005 and see what happens.

 

Letter will be going out to HSBC tomorrow along with the list of charges and request for the manual intervention details.

[lateralus]

if not too late, i think i'd hold off posting til someone advices you. and advise you they will. are you saying you haven't included any of the interest on the overdraft charges because at that level (meaning the total and the length of time passed) it is likely to be a significant amount.

Better to hold off and get it right than to plunge on and complicate matters.

so, it's probably going to go over 5K,

 

hopefully SOMEONE WILL JUMP IN HERE WITH THE ANSWERS, file for over 5K or break it into two claims - i don't think i've seen anyone talking about breaking into two claims datewise to avoid going over, i think it just means, were it to go to court it wouldn't be tracked into the small claim route.

 

i'm just saying hold on til you get an answer.

[raaydaar]

Ok, I'll hold off for now, as I understood it, the initial claim to the bank is for the charges but without the 8% interest which is claimed when legal action is taken. I'm only breaking it into 2 claims because my wife is concerned that should we do something wrong with the claim then we may be liable for the HSBC fees

Totals for 2001 - 2005 are:

 

Without Interest - £3620.63

 

With 8% Interest (as of 4th Dec) - £4483.39

[Guest bong]

raaydaar

 

Have you included a claim for any overdraft interest in your figures? Are you aware that you can claim that part of the overdraft interest which was caused by the penalty charges? I think that was what Lateralus was alluding to when asking if you had included interest in your calculations.

 

Be aware that HSBC are tending to close accounts when a second claim is made. Would this matter to you?

 

Have you considered claiming contractual interest? If you wanted to do this you would have to claim it now, unlike county court interest which only becomes claimable when you issue court proceedings.

 

 

There are advantages and disadvantages to going fast track. The main disadvantage would be an exposure to £750 costs if you lose. The advantage is that you can request disclosure which means getting the bank to reveal the true costs in relation to the account breaches. In my opinion they are even more likely to want to settle a claim that will go into fast track - to avoid disclosure. But none of us should be presuming that our cases will settle out of court, whether fast track or small claims.

 

My advice would be to take time to assess the implications of claiming contractual interest and to weigh up the pros and cons of small track v fast track. Reading threads of claims similar to your own should help you to decide.

[raaydaar]

Right, I've goen through everything up to today and the total without any interest is £4238.50, so below the £5000 threshold, The contractual interest and overdraft interest scenario is all a bit complicated to work out so I've decided not to go down that route and will take the additional £845 in court interest when that happens.

 

One other question before I go ahead, the account is a joint account with Mrs Raaydaar, do we need to complete everything in joint names?

[Guest bong]

not unless the account mandate specifies that you both have to sign.

[raaydaar]

Superb, well that's the initial letter sent off to Customer Relations today, along with the schedule of charges.

I take it I shouldn't expect to hear anything now unless they wish to make some sort of "in good faith settlement."

When I send out the LBA, this will obviously coincide with xmas, should I give them an extra couple of dyas because of the bank holidays or stick to the 14 day timescales?

Strangely enough had a phone call from the bank this morning but was in bed after nights and couldn't be bothered answering - probably wanting to know when I'll be paying off the overdraft!!

[Guest bong]

not sure - maybe give them 21 days in view of the bank holidays - you want to be seen to be acting reasonably in the eyes of the court I suppose.

[raaydaar]

Well surprise surprise, not a dicky bird from HSBC you would think they would at least have the decency to acknowledge my initial letter with a standard thank you our charges are reasonable etc.

Ah well, drafting out the LBA today to mail tomorrow was going to be nice and give them some extra time cos of xmas, but don't think I'll bother now.

[babsp2000]

NO No no no, sorry Bong I have to disagree..I bow to your superior knowledge usually but I'd just stick to the timetable...if they were that bothered about timings they wouldn't be sending letters out 2nd class or not relpying at all. Raaydaar - go with your original timetable and stick to it...most people don't have any form of communication from HSBC anyway!

babs x

[raaydaar]

Cheers babs, Mrs Raaydaar is of the opinion we should give them a few extra days, but I've laid down the law, after all like you said if they had the decency to enter into some form of dialogue I might be inclined to be more tolerant, but a straigtforward refusal to even acknowledge the existence of my claim makes by blood boil!! So HSBC give me my money or pay me an extra grand in costs and interest!!!!

[babsp2000]

Good man, keep the wifey in her place - it worked with my boyf! LOL he was the one telling me by the way NOT the other way around!!

 

 

Good luck!

[raaydaar]

Well, amazingly, HSBC have acknowledged my existence, I received the standard thanks for your query we are looking into it and will get back to you in due course.

My guess is not before I do the mcol

 

Merry Xmas to one and all on here and hope that 2007 brings you all your HSBC monies

[raaydaar]

LBA sent today (couldn't get to the post office before), so 14 more days and then its mcol time, unless of course those nice people at HSBC want to give me all the money they owe me??

[HSBCrusher]

Well, you never know...

 

All the best with your claim!

 

Crusher

[raaydaar]

Got another letter this morning, hoping that the gods were going to be nice to me before the new year, instead, Mr Colin Langdale wrote explaining that they were conducting an investigation into the charges and would get back to me as soon as possible, and advised me to read the eclosed leaflet detailing how the investigation would be carried out, but it would appear he or on of his minions neglected to enclose the leaflet.

Maybe they've run out of leaflets!!!

 

Well anyway, they received my LBA today according to Royal Mail, so I'll start getting the court bundle together (hopefully I won't need it though)

[HSBCrusher]

Oh yes. Mr Langdale.

I had to snigger a little over the missing leaflet!

[raaydaar]

Wel the postman was nice to me this morning, received an offer from Mr Langdale, £120 short of my claim, so Mrs Raaydaar has decided that we should accept (provided that they waive the charges due to be applied in January), since she is desparate for some new furniture and a romantic weekend in Paris.

So thank you Mr Langdale and thanks to everyone on here for all your help couldn't have done it without you.

Donation will be on its way when I get the cash

[HSBCrusher]

well done raaydaar!

Let us know when you get the cash, and Ill get the thread title changed for you.

Superb news!

[lateralus]

yes, congratulations and here's to a healthy, happy new year to you and yours..........