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Micheyboo vs HSBC ****WON****


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Hi - I am just about to send my 1st letter to HSBC soon. I have claculated what is owing to me already but I am a little confused regards whether to request interest at this stage. I have looked and I have read that I am only allowed to claim the 8% overdraft interest once I put my claim through the court. This is my understanding, but if this is incorrect then please confirm.

 

On my HSBC statements there is always an "Interest" charge, not sure whether to claim this as it's gonna be hard to differentiate what the interest is based on completely. I'd probably not bother claiming this charge and would look to apply the 8% instead, is this allowed?

 

I recently won my Natwest claim and when I did that, in all my correspondence I always quoted the 8% interest on top in addition to the charges I was claiming for.

 

I would be grateful if anybody could clarify this point.

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Ok.

Sitting quietly?

then we'll begin.

When you get charged, the charge goes onto your balance.

therefore, if you are overdrawn, you will be paying interest on those charges. You can claim these back, the spreadsheet works this out for you.

When you get to court stage, you can indeed add on 8%.

 

ok, so thats the simple method.

 

Some people have been adding on contractual interest on from the start.. if you claim this you will not charge the 8% at the end (so it is an alternative to the 8% not additional to). I know this is complicated, and many just stick to the 8% and not bother with the contractual.

 

If contractual side of things interests (no pun intended) you take a look at

http://www.consumeractiongroup.co.uk/forum/general/18313-why-no-one-claiming.html?highlight=contractual+interest

 

lots of reading there!

  • Haha 1

 

 

HSBC WON three times!!!!! Read about my continuing battle (claim FOUR!) Link HERE

Capital One WON Link

HERE

GE capital (5 accounts) WON link HERE

Lloyds bank account WON second claim starting! link HERE

Budget insurance cough up WON link HERE

Principles WON link HERE

A&L (Mrs Crusher's account) claim link HERE

Barclays claim link HERE

 

Any advice given is on an informal basis only and without prejudice or liability. In in any doubt, consult a qualified lawyer.

IF YOU HAVE GOT YOUR MONEY BACK, PUT SOME BACK INTO THE SITE TO HELP KEEP IT OPEN!

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Thanks HSBC Crusher..... it's quite confusing and I am reading the thread you showed me about it all, lots to understand.

 

If I decide to claim the Contractual Rate of interest, does that mean when I start my MCOL I cannot add the 8% or is this seperate? Would I claim 8% of the total Charges + Contractual Interest at the MCOL stage?

 

One last question, the "Interest" figure on my statements which HSBC apply, you said in your reply I can claim this back and the spreadsheet would calculate this. This is quoted by HSBC already in my statements so I wouldn't need to have the spreadsheet caculate as I would just quote the figure they charged, or am I confusing the "interest" your thinking about with something else.

 

Might be easier just to not bother with interest and just do the 8% at MCOL stage on it's own. All a bit confusing.

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If I decide to claim the Contractual Rate of interest, does that mean when I start my MCOL I cannot add the 8% or is this seperate? Would I claim 8% of the total Charges + Contractual Interest at the MCOL stage?

 

Here is the answer.

Some people have been adding on contractual interest on from the start.. if you claim this you will not charge the 8% at the end (so it is an alternative to the 8% not additional to). I know this is complicated, and many just stick to the 8% and not bother with the contractual.

 

One last question, the "Interest" figure on my statements which HSBC apply, you said in your reply I can claim this back and the spreadsheet would calculate this. This is quoted by HSBC already in my statements so I wouldn't need to have the spreadsheet caculate as I would just quote the figure they charged, or am I confusing the "interest" your thinking about with something else.

 

 

Here is the answer.

When you get charged, the charge goes onto your balance.

therefore, if you are overdrawn, you will be paying interest on those charges. You can claim these back, the spreadsheet works this out for you.

When you get to court stage, you can indeed add on 8%.

 

also you can only claim the actual portion of overdraft interest that is a direct result of the charge. It is best not to bother with this unless you understand it completely.

 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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Thank you Livelylad!!

 

You know I think it would be easier if I just claim back the charges and then at the end I'll just whack on the 8% at MCOL stage. Though got a bit worried when I read in another thread that you couldn't apply the 8% on excess overdraft fees... this is wrong, right? I have read what charges apply so that thread was a bit baffling!?

 

IMPORTANT QUESTION - I have just realised that my HSBC account is actually a joint account, though my ex-husband no longer uses the account anymore as we are now divorced. Anyway, would I need my ex's signature in any of the correspondence or does he need to write a letter of consent? I vaguely remember something to that effect for joint account holders on some thread I read a while ago. I'd rather sort this out now before my Prelim letter is sent out and waste time for HSBC to just tell me the above.

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Thank you Livelylad!!

 

You know I think it would be easier if I just claim back the charges and then at the end I'll just whack on the 8% at MCOL stage. Though got a bit worried when I read in another thread that you couldn't apply the 8% on excess overdraft fees... this is wrong, right? I have read what charges apply so that thread was a bit baffling!?

 

Yes just add the 8% at the MCOL stage any problems send me your spreadsheet.

 

IMPORTANT QUESTION - I have just realised that my HSBC account is actually a joint account, though my ex-husband no longer uses the account anymore as we are now divorced. Anyway, would I need my ex's signature in any of the correspondence or does he need to write a letter of consent? I vaguely remember something to that effect for joint account holders on some thread I read a while ago. I'd rather sort this out now before my Prelim letter is sent out and waste time for HSBC to just tell me the above.

As long as you both have joint status on the account ie signatures then you should be fine.

 

 

hope this helps.

 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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  • 2 weeks later...

Well I have sent my Prelim letter to my bank manager but didn't get a reply, which I find really unprofessional and perhaps unsurprising. Anyway, today I have just sent my LBA letter by recorded delivery to my manager again but just wondering whether I should back this up with a letter to :

 

Mr David Lewis, Head of Customer Relations,

Level 36,

8 canada Square, London, E14 5HQ.

Tel 020 7991 8550 Fax 020 7991 4992

 

Found this in the Contacts thread for HSBC, so what do you think? Just worried they wont reply to the LBA either and then I will be straight onto the MCOL. Should I not worry and if I don't get a reply, I should just go ahead with MCOL anyway?

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yep, press on if you get a reply or not, unless it's an offer of course. :-D

 

 

HSBC WON three times!!!!! Read about my continuing battle (claim FOUR!) Link HERE

Capital One WON Link

HERE

GE capital (5 accounts) WON link HERE

Lloyds bank account WON second claim starting! link HERE

Budget insurance cough up WON link HERE

Principles WON link HERE

A&L (Mrs Crusher's account) claim link HERE

Barclays claim link HERE

 

Any advice given is on an informal basis only and without prejudice or liability. In in any doubt, consult a qualified lawyer.

IF YOU HAVE GOT YOUR MONEY BACK, PUT SOME BACK INTO THE SITE TO HELP KEEP IT OPEN!

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I have just received an offer of £1700, though my claim was about c.£1900 but that does not include the interest I have yet to add. I will decline the offer as I'm sure everybody would recommend anyway, though it is very tempting to take it & run. I mean after interest I should be due about £2000.

 

Can anybody confirm the address I use for HSBC when I do my MCOL, it was not stated in their offer letter.

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HI Micheyboo,

 

Well done for sticking with it. You just need a bit of determination and patience now and you will get everything. This is the bit I found scary so if you need encouragement or help just shout.:)

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Thanks Siena.

 

So have you won a big claim already with HSBC? I have won my Natwest claim of about £600 a couple of months ago but this is quite substantial so getting a bit nervous. I'll be sending a letter to HSBC to decline their offer this week and then doing my MCOL next week. Wondering whether they will start sending me a big questionnaires and scaring me with legal jargon or will they, like Natwest, just settle up and send over a cheque once the MCOL goes through. Just curious to know how they act with these claims.

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Micheyboo,

 

Not won yet but hopefully close, just submitted my AQ on 1st claim and Mcol was submited 4th January with the second claim. HSBC seem to be holding out longer than they used to. In most cases I've seen recently they have defended and you will possibly have to complete a AQ but everything is covered on this site so don't worry:)

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  • 2 weeks later...

Guys, getting a bit twitchy again, even though I have won a previous claim with Natwest last year, this one is quite large and I notice there are loads of claims going through for HSBC!

 

I have completed my MCOL and it has just come up as Acknowledged online. I have not received written confirmation of this but I expect I should either today or tomorrow. I have already sent the MCOL court 2 copies of my breakdown charges when I put my claim through so do I need to still send them more or should I just send the 1 copy to DG as I have been reading on other threads. Just need a bit of reassurance that I'm doing it right.

 

So, I'm supposed to badger DG till they are sick of me confirming they have received my breakdown is that right, read that somewhere too. I have until the 9th March when the 28 days are up so still have a fair bit of waiting to do.

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well, yes, send them a breakdown and your claim number - i don't usually advise the badgering until they file a defense (28 days after issue date) but i suppose a call or two won't hurt. up to you.

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Thanks Laterus, i've seen you in the other threads offering consolation & advice :-) Oh, congrats on passing your 1000th post!!!

 

I saw online that my MCOL was acknowledged on Mon 12th but I have not received anything in the post yet from them. I do not have the address of the DG or to whom is dealing with my claim. Worried if any letter they sent could be lost in the post - what should I do if by tomorrow I have not received anything?

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i'm sure you will receive the paperwork in the post by the end of the week. there's not much to do until they file a defence anyway and that won't be for a couple of weeks yet.

If i've been helpful in any way....then tip my scales over there!

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  • 2 weeks later...

Can anybody just clarify this for me about the stages of MCOL so I am clear on what to expect :

 

- Claim issued 9th February 2007

- Deemed served by court on 14th February 2007

- Acknowledgement of Service filed 12th February from DG

 

Does that mean therefore I have 28 days from the 14th February for DG to file their defence? Also, am I due an AQ at some point between now and the the 28th day deadline on the 14th March? Just want to be sure what to expect and what I need to do between now and then so I can prepare and research. What are the timescales between receiving AQ and going to court usually, is it 14 or 28 days? All this waiting is driving me a bit potty!!

 

My claim is for about £2400.00.

 

Hope somebody can enlighten me :-)

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hi michey

keep checking the mcol site for the defence to be entered. that should be around about the 12 march or just before.

 

while your waiting - take a look at the allocation questionaire instructions and don't worry about anything too much. you can't really do anything else until you get your notice of transfer of proceedings, copy of the defence and the aq in the post. just hang in there ok :)

 

Allocation Questionnaires - A guide to completion

New strategy for Allocation Questionaires

If i've been helpful in any way....then tip my scales over there!

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Thanks Netty

 

So I will receive my AQ & Defence sometime in the next couple of weeks right? That's a bugger, does that mean I probably wont get settlement till end of March? I'm just wanting an idea on timescales.

 

I've been following your thread every now and then. Have you won your claim yet?

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micheyboo - netty got a full offer today! 3 days before her aq is due.

i just read about your oz trip on that other thread - so thought i'd plug in here.

their defense must be filed by 14 march and they are known for doing it at the last possible moment -

you'll then get the paperwork from the court and about 2 weeks to file the aq. it would take 7 - 10 days to get paid out if/when you get your offer -

 

i'm saying i hope you weren't counting on the money for oz.. but, you never know.....you could get it before then.

 

as to what to do to speed things along - it won't work for sure - but some people - netty included - really bombard dg with breakdowns.

 

i'd say - you sent your breakdown when you were acknowledged, right?

well, ring them tomorrow or until you get through and ask if they received your breakdown. have your claim number ready. that will put your file to the top for a bit. once you've done that - send an e-mail with your name, claim number and ask if they need any further info from you regarding the claim? send it to the top name on the list - then the next day send to the next name, etc.

DG Solicitors

12 Calthorpe Road

Edgbaston

Birmingham

B15 1QZ

0121 455 2111 (Debbie)

0121 455 2701 (Rachel)

0121 455 2196 (Kate)

0121 455 2206 (Alan)

Fax 0121 455 2150

0121 455 2111 (Debbie) [email protected]

0121 455 2701 (Rachel) [email protected]

0121 455 2196 (Kate) [email protected]

0121 455 2206 (Alan) [email protected]

and [email protected]

 

ok - it's up to you how much you want to bug them. it doesn't affect your claim as such - it might make them mad or it might make them get busy and do something - there is no reason they couldn't make an offer at this point (a couple of months ago - this would have been the norm), it's the amount of claims that has pushed it back - but they can offer at any point - so i think it's worth some calls and e -mails to try to stir them up.

good luck.

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Thanks Lattie!! You are so helpful :-)

 

I was kinda hoping I'd get the money in before Oz but I wasn't counting on it completely. It would have been a nice bonus though.

 

Yes I did send a breakdown of my charges to DG when they acknowledged my claim. I shall give them a call today to check they've received it and also send some emails out next week too. I wont go overboard though.

 

Thanks again and I'll keep everybody posted on my progress.

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OK, you can probably sense I am getting a bit panicky about this whole AQ situation approaching. I really don't have another £100 to pay for it and I am going to Oz next April and ideally I'd like this sorted ASAP.

 

People have called DG, but I am nervous about talking to a scarey lawyer and just wanted to know whether if I emailed them the following would it harm my claim. I am at the point where I would like to settle now to avoid further time and money on this. Proposed email below - your thoughts would be appreciated folks :

Without Prejudice & Subject to Contract

 

"I would like to enquire on the status of my claim. I have attached the breakdown of your charges which I am claiming for your information. Your defence is due next week and the cost of settlement will go up a further £100 if you file your defence and we will both have to submit the Allocation Questionnaire.

 

I am prepared to take this all the way, however, in the interests of saving us both time and money, if HSBC would like to revise their original offer then I would consider settling out of court."

 

I am claiming for about £2400 and would settle for £2200 if they offered me this. Should I state this figure?

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