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Bank Charges, Low Income, In Debt w HSBC, plus existing Creditors Pls Help

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Hi, my Name is Michelle - Please can someone help me :confused:

 

Currently:

I have been ill for some time due to depression, and other medical problems, not least is the severe hardship caused by my creditors and existing bank account with HSBC. The first and most important thing I need to happen is to stop HSBC taken money off me in bank charges as I am scared im going to be defaulted by the bank and its the only Bank account I have now, and due to my credit scoring little chance of opening another bank account :(

 

Banking Formerly:

I used to be self employed a few years ago between 1993 and 2002 during which time I had a business account with NatWest it was under a New Business account plan so many earlier charges were waived during the Business start up plan, my business struggled to get going and as soon as Bank Charges began it was a quick decline for my Business. I kept ALL statements for my business periods, but sadly not as maticulous lately for my personal banking. Later I was forced to close my Business account and began using my Personal A&L account for both Personal and Business accounting, Business still declined and A&L took considerable monies from me and my CC also got into arrears :eek: upto about £2500 exact figures will be on the statements in my closet.

 

Illness:

My illness forced me onto Incapacity benefit of which I have been on now for over 3 years, I have medical needs which I struggle to meet although my prescriptions are free on the NHS, travel and other needs are greatly hindered by my current financial situation. :evil:

 

Income and Expences:

Here is a summary of my current income and expences!

Income £81.95

 

Weekly Repayments

£8.20 Repayment to Social Fund Load +

£5.00 CSA + :evil:

£5.00 BT Telephone Instalments

£7.00 Gas

£5.00 Electricity

£5.00 Yorkshire Water

£15.00 Bank Payments,

 

 

I really do not know if I am strong enough, to go through all this many times I have been ready to just give up as if its not one thing its another.

 

what the bank is doing to me now is just the last straw for me, as matters are hard enough as it is.

 

Michelle


When those powers who seem far above us, showing more than ever that we are not wanted for who we are other than our assets. These may be the times when the burdens are greatest upon us, ironically though these are the times when our wisdom is needed the most.

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Hello Michelle and welcome to the site.

Your story is not uncommon although your personal situation naturally makes things harder and you obviously deserve to be congratulated for your courage and resolve in coming here in light of your personal difficulties.

On this site you will find people from all walks of life and many of whome have endeared hardships in the face of Banks ststematically taking charges.

All your issues can be addressed with assistance from the many great people on the site.

To start with you will need to get the paperwork for the accounts that you do not have statements for.

If you have,as you say the paperwork for the earlier accounts then this will be a blessing and save some work.

I think its a good idea to get you fixed up with a thread in the bank group that needs to be tackled first and go from there.

In your opinion and having knowledge of how much info you have,which bank do you think that would be ?

Can you also advise as to whether your bank have been taking charges from your benefits ? as there are means to stop this from happening further.


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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In your opinion and having knowledge of how much info you have,which bank do you think that would be ?

Can you also advise as to whether your bank have been taking charges from your benefits ? as there are means to stop this from happening further.

 

Dear Martin,

While I was self employed I did my own accounts, and still have the Excell accounting spread sheets backed up on CD so being able to see the bank Charges for earlier periods should be easy. Most bank charges however were related to the processing of international $ dollar cheques, some fee's of about $25.00 a time when processing large Cheques around $4500 in commisions from the USA for example. The accounts I was using have been closed however for a number of years now, those accounts being NatWest & Alliance & Leicester. I was also sliding into debt during the latter years of my Business via my Natwest Credit Card which continued for a while after my Natwest Bank account was closed, which added more charges on and eventually it was defaulted both my Natwest bank account and Natwest CC were handed over to debt collection agency which I am having to repay over time I got help from the CAB who managed to negotiate a repayment plan which currently stands at £2.00 per month although they frequently pressure me to try and recover monies from me faster, most of what I owe is in interest charges though.

 

After Natwest was closed I used my personal account with A&L & CC to run my business financies as I could not afford a Business account, my A&L account also got into difficulties as International $ commision sales plumeted around 1999 and bank charges brought that A&L CC and bank account into debt, this was also taken over by a debt collection agency total debt was about £2500 although this is much less now, this was arranged via the CAB so I can pay back £4.00 a month as that account had the most debt due to bank charges and interest.

 

The account I use now is HSBC and I have managed this account much better solely for personal use until recently as mentioned earlier, when the CSA started targetting me.

 

I would have to say that the bank which took the most from me in charges was A&L and the associated credit card I believe I have most if not all the relevant statements even though this account has been closed for over 5 years now! I kept them as I had to in case the Inland revenue needed to check my accounts. Even if some statements are missing i'm sure I have the most important ones with the bulk of charges.

 

Lately I have had a lot of problems managing figures and stuff as I get confused possibly due to my medical situation but the account excell sheets should help in that area as they are on CD.

 

NO bank has taken money direct from my benefits so far, other than the CSA

 

It should not be to difficult to link some of my excell account sheets together to give some totals of bank charges over the period that my Excell sheets cover. Some of my earlier accounts were done manually until I began using excell. I really have no idea how much money they took from me I might get a surprise, and im dying to find out :) if I can get this all back.

 

Q's

 

A/ What are my chances of recovering money?

 

B/ Could this stop the bank from presuring me to repay debts, if they are primarily from bank charges?

 

C/ Could this be a long battle due to the fact the account is closed?

 

Regards, Michelle


When those powers who seem far above us, showing more than ever that we are not wanted for who we are other than our assets. These may be the times when the burdens are greatest upon us, ironically though these are the times when our wisdom is needed the most.

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Hi Aero

If you are on Incapacity and the agreements you ahve start to fail or get abused, I would ring Payplan

Free Debt Management company | Payplan

They offer free debit management and most banks recognise them.

You have to have £100 left over a month for them to enter into any repayment schemes.

 

If you are on benefits this is not possible and they will give you a log number to give to your bank.

 

With your income a sit is, they would advise you pay £1.00 per account per month.

I would give them a ring and go over the initial call with them.

 

I was advised to pay my banks £1 per loan and the bank insisted on £8 per loan so i agreed. I have been advised that for the bank to take me to court, could prove to be an expensive route as a judge may well decide that £1 per loan is all they are allowed due to my financial position.

 

If you pay them £2/£3 per debit per month the chances are they will not move on your debits.

 

But still give Payplan a ring to find out more info.

 

I also have removed my benefit payments from my main bank and now are directly paid to a building society. No OD, no DD and no SO so i am enjoying a basic! account.

I remove the money and pay who i choose rather than someone take what they choose.

 

Banks are a nightmare with harrasement and removing of money from accounts, its best to limit thier ability to interfer with the running of your ever day life.

 

Get your self some claims going, you may well have alot! of charges to claim.

BL:)

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Hi and welcome

 

What I would say straight away is look for some sort of arrangement. Paying 15 pound to your bank a week for a debt is ludicrous and so they know it.

 

Stick with it and it will hopefully work out


Whatever I post is my opinion and should be taken as such, an opinion. While it is what I believe and is offered in good faith, it should not be taken as a statement of truth

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Thx Bread and Isiris,

Maybe I should have mentioned my former debts are being managed after going via the CAB one debt at £2.00 per month and the other at £4.00 per month. The debts that I am currently referring to at HSBC are the bank charges just added to my present bank account, they told me if I did not bring my account into credit quickly then they would begin adding more charges, so rather than it escalating out of control like my old bank accounts did, I felt presured into paying £20.00 for 2 successive week's and £15.00 another week basically I have to put at Least £10.00 a week into my account to cover ISP and other payments going out of this account, on a monthly basis. I have 1 schedule payment setup on this account to repay a former debt via a Debt collection agency, this is by Standing Order of £4.00. and £23.99 per month goes out of this account monthly to pay my ISP subscription, however recently an ebay sale I tried to make back fired and I did not realise they were going to charge me so much, plus the Debt charge £4.00 and my isp bill were all paid around the same time causing me to get into arrears. I found I had no money to repay it and before I knew what was happening the CSA started targeting me thats when things went bad.

 

The good news is my account is now in credit by £0.03p and my dad is sending me some more money to help me so I am hopefull that the situation is now stable at least for the moment :)

 

So next job is to take action against my former banks first, get some money back from them and deal with HSBC later.

 

Michelle


When those powers who seem far above us, showing more than ever that we are not wanted for who we are other than our assets. These may be the times when the burdens are greatest upon us, ironically though these are the times when our wisdom is needed the most.

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Yes Michelle I agree.

Ok lets gt you threads started in both A&L and Natwest as these appear to be the main ones.

I also think it would be a good idea to let us have some info on the debt collection agency as if this debt is originating from Unlawful charges then it should be tackled as a way of putting some cash back into your pocket.We do usually advise on maintaining payments to dcas where there is an arrangement in place but reading your story it sems a real case to make an exception in view of undue hardship.

So just a reminder of the plan.

your threads will be moved to the 2 bank groups as above.If you can then get some charges schedules organised for those then the prelims can be sent.

Secondly please post in this thread some details of the debt you are paying.I will then move that to the baliff and debt section for some guidance once we know whats what.

I will not move any threads until you respond so that you are clear on the plans.

Dont worry too much...I know it sounds a nightmare but all this can be dealt with in stages.:)


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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Q's

 

A/ What are my chances of recovering money?very real

 

B/ Could this stop the bank from presuring me to repay debts, if they are primarily from bank charges?Absolutely

 

C/ Could this be a long battle due to the fact the account is closed?It makes no difference at all in fact the only difference being that they have to pay you by cheque instead of paying into an account.

 

Regards, Michelle

 

You dont appear to have had answers to these questions

so I have done that now.


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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Dear Martin,

Thx yes clearly I want to deal with my A&L and NatWest first, but in recent weeks I have been plauged by HSBC repeatedly taking money off my income support/sickness benefit because of this I have been forced to send them a letter to stop them from crippling my income.

 

I enclose a copy of the Letter I have sent HSBC today 25th January 2006.

 

-------------------LETTER AS FOLLOWS ------------------

 

Social Security Administration Act 1992 (c. 5)

1992 c. 5 - continued

 

 

SECTION 187

 

 

 

Certain benefit to be inalienable

 

Applicable >

 

 

 

187.—(1) Subject to the provisions of this Act, every assignment of or charge on—

(a) benefit as defined in section 122 of the Contributions and Benefits Act;

(b) any income-related benefit; or

© child benefit, and every agreement to assign or charge such benefit shall be void; and, on the bankruptcy of a beneficiary, such benefit shall not pass to any trustee or other person acting on behalf of his creditors.

------------------------------------------------------------------

N/A >

(2) In the application of subsection (1) above to Scotland—

(a) the reference to assignment of benefit shall be read as a reference to assignation, "assign" being construed accordingly;

(b) the reference to a beneficiary's bankruptcy shall be read as a reference to the sequestration of his estate or the appointment on his estate of a judicial factor under section 41 of the [1980 c. 46.] Solicitors (Scotland) Act 1980.

(3) In calculating for the purposes of section 5 of the [1869 c. 62.] Debtors Act 1869 or section 4 of the [1882 c. 42.] Civil Imprisonment (Scotland) Act 1882 the means of any beneficiary, no account shall be taken of any increase of disablement benefit in respect of a child or of industrial death benefit.

 

Social Security Administration Act 1992 (c. 5)

 

 

 

 

 

 

-----------------------------------------------------------------------------

 

p2 of 2

 

 

2007-01-25

 

This is a notice giving 7 Days Notice to cease all bank charges against my Income Support of which makes up the entirety of my income. Of which portions are being taken from me in Bank Charges.

 

Otherwise further action may be taken under The Consumer Credit Act 1974 to recover earlier bank charges.

 

----------------------------------------------------------------------------------------------------------------------

 

Social Security Administration Act 1992

Miscellaneous

Certain benefit to be inalienable **

 

 

 

 

 

The Manager

Service Quality Team

HSBC Bank PLC

Arlington Business Centre,

Millshaw Park Lane

Leeds, LS11 OPP

 

 

 

25/01/2007

 

SENDER ME

 

 

 

RIGHT OF APPROPRIATION

 

 

Dear Sir/Madam,

 

ACCOUNT NUMBER: XXXXXXXX ; Sort Code: XXXXXX

 

 

I am writing to inform you that I am due to make payment’s made into my account on most first Tuesdays of the month, and I wish to use my first right of appropriation for this money, for the following purposes;

 

Internet Service Charges £24.99 Monthly Basis

Co-Op, Creditor Repayment Charges £4.00 Monthly Basis

Housekeeping money (Unknown amounts)

 

 

I will withdraw the money on the day that it is required for the above use, and I would be grateful if you would ensure that any other payments out of my account do not interfere with these withdrawals.

 

 

 

Yours faithfully,

 

 

_____________________________

 

 

MICHELLE XXX

 

.

.

 

© Reclaim the Right Ltd.

 

 

sorry if the layout is not the same as on my letter as I used tables before!

 

Michelle


When those powers who seem far above us, showing more than ever that we are not wanted for who we are other than our assets. These may be the times when the burdens are greatest upon us, ironically though these are the times when our wisdom is needed the most.

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Hi I just got hit with another charge of £15.00 I wrote to the bank as last time they refunded the previous charge but this time they will not! What can I do? they seem to make out these are service charges. PS I hope the ChatRoom comes back soon I miss it :( If anyone wants to chat in the mean time I am On Yahoo

 

I wrote:

Subject General Enquiries

Date 09 May 2007

Account Details xxxxxx xxxxxxxx

Your Message You have applied unlawful charges of

£15.00 to my account again! Please can

you remove them, it has recently been

proven that any charges above the

administration fee's is unfair. The

monies you have taken from me are unfair

profiteering not my Debt, by imposing

such charges you are imposing unlawful

profit from people most vulnerable and

suffering hardship, any escalation in

charges resulting from your initial

charge is theirfore inciting debt onto my

account which is outside my control.

quote "The Law

The law of penalty charges permits the

recovery only of losses caused by a

contractual breach.

Penalties which make profits are

unenforceable at Common law and The

Unfair Terms in Consumer Contracts

regulations 1999"

Regards XXXXXXXX

 

 

They Replied:

Dear Ms xxx

 

Thank you for your e-message dated 9 May 2007.

 

After reviewing our records, I confirm that the arrangement fee of GBP 15.00 incurred during charging period 13 March 2007 to 12 April 2007 was due to the following:

 

26 March 2007 - GBP 15.20 request for an informal overdraft

 

We will only charge an arrangement fee of GBP 25.00 every time you make a formal or informal overdraft request which we agree to. We promise that we will not charge arrangement fees for:

 

- Any formal or informal overdraft requests that we agree to, if this is the first time this has happened in the last six months.

 

- Small overdraft requests we agree to that are not more than GBP 10.00.

 

- If the Bank's charge causes the overdrawn balance.

 

However, if we agree to an informal request an a fee is payable of more than the amount requested, we will reduce our fee to the nearest GBP 1.00 below the level of the maximum overdraft requested during a charging month.

 

In your case, your account was overdrawn GBP 15.20 on 26 March 2007 and attracted arrangement fee totalling GBP 25.00, we will only charge you GBP 15.00 on this occasion.

 

Whilst I do acknowledge your circumstances, I regret to inform you that I am unable to authorise a refund of this charge which has been applied correctly in accordance with the bank's standard tariff.

 

In order to avoid a similar situation occurring in future, I would recommend careful monitoring of your account to ensure your balance remains in credit. You can monitor your account via our telephone banking, Personal Internet Banking or branch service.

 

However, please be aware that we value your feedback in order to improve our services. If you find it necessary to lodge a complaint, full details of the Bank's complaint handling procedures can be viewed by logging to Home: personal, business, online, internet, banking: HSBC Bank UK and Contact Us, then 'How To Complain' which sets out the relevant details for you.

 

I trust this clarifies matters.

 

Yours sincerely

 

 

Heidi Daniels

Manager Customer Credit Services

 

Aerotro's quote -


When those powers who seem far above us, showing more than ever that we are not wanted for who we are other than our assets. These may be the times when the burdens are greatest upon us, ironically though these are the times when our wisdom is needed the most.

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