PJB2007 v HSBC

[PJB2007]

Hi everybody, my name is Phil and I am new to the site.

 

Firstly I would like to apologise in advance for some of the questions I am going to ask in this thread, they are going to seem really silly to some of you, but I really am clueless on some parts of this whole process.

 

I have sent 2 template letter to HSBC, used the usual methods of recorded delivery and waiting 14 days from each letter being received.

 

The second response from Colin Langdale came today, with the usual NO as the answer (we stated our charges, complain to the Ombudsman etc)

 

I only heard about calculating interest and claiming it back when I joined this forum, until then I heard nothing about that part.

 

My first question is "How do I calculate my interest?"

 

As in....whats the formula for calculating it? What info do I need to do so?

 

Thanks!

[lateralus]

great, found the right place! let's start again, i'll put some of what i said before over here for you to look at:

 

pjb2007 - first welcome to the forum, you now have your own place where you can keep track of your things and you can ask questions you need answering and it is much, much easier to find you again - if you have your own thread. refer back all the time to this: Newcomer? Here's A User Guide, read them until you are familiar with them.

you are asking about figuring interest - are you talking about the interest that is added on at the claim stage or overdraft interest on your statements. can i ask if you've included overdraft interest in your initial calculations as to what is owed back to you?

 

it is to your benefit to come to grips with the charges you are asking back before you proceed to the LBA which should be your next letter - but first, have you used a spreadsheet to figure your interest? maybe i can help you understand the difference between the interests and how to work them on the spreadsheet by sending you this link. after you have read the faqs and step by steps on this site, you will be ready to make a list of your charges you want to reclaim look at post number 9 on this thread:HONEYGIE sees you HSBC! (1.

once you've done what it says - you will then have a schedule of charges (your spreadsheet including overdraft interest, if you want to reclaim it but not yet including the 8% interest that you can claim at the court filing stage.) Your spreadsheet is your schedule.

then you will be ready to go back to the library template letters and send an LBA and include the breakdown. I would consider you have already sent a prelim. approach letter and are now ready for the lba - but read up first and see if your list of charges is as you want it before you send it off with the lba. ok?

 

 

so in answer to the above - the spreadsheet does it for you.

[PJB2007]

Thanks for taking the time to help me!

 

Yes I am talking about the interest that is added on at claim stage and no I have not included overdraft interest in my initial calculations.

 

Is this interest part a necessity? Must it be included or is it just possible to include if you wish?

 

The term LBA, what does that stand for? The 2 template (prelim) letters I have already sent, are they LBA's or is this something different?

 

I will have a look at that link in detail thanks!

[lateralus]

yes, the link e xplains it - lba is letter before action - you need to actually tell them that you are going to file a claim if they don't pay you the money back within a certain time, this is a legal requirement - use the template in the library. the charges should be on a spreadsheet - if you don't want to add the overdraft interest portion which you could reclaim - you still need to do a spreadsheet as it will figure the 8% interest which is a part of your claim and is added on at the filing stage. have a look at the honeygie thread,

just for comparison sake - my initial charges were 1500, adding on the overdraft interest using the spreadsheet added about 300 and the 8% at court stage added another 300. whether you add them on depends on your circumstances but was well worth the time it took for me. took me about an hour to do the spreadsheet and i'd never done one before. that's why i wrote it up, to help others understand how to do it.

[PJB2007]

thanks I am going to attempt the spreadsheet when I get home from work tonight. It might take me a while because I have not used excel for years haha.

 

The second prelim letter I have sent to HSBC informed them that if they did not give me a definative answer in 14 days that I would register my claim.

 

So first thing I will do is attempt this spreadsheet (although it will be a nightmare for me probably)

 

Then do I need to send another LBA or will the one I have sent already be sufficient? After all I di inform them and they said there response letter was their final answer on the matter.

[claire78]

One LBA is fine, if they haven't replied within the 14 days, go ahead and issue (once you have worked out the interest)

[lateralus]

if you come out with a significantly different total - i think i'd send a revised one to the bank, otherwise, just go ahead and file.

[PJB2007]

ok thanks, I will get on the case and work the interest out tonight and let you know if I managed to make the spreadsheet.

[PJB2007]

I am in the process of modifying one of the spreadsheets in the links on this site. Where you type the date/amount in and it works out the 8% interest.

 

The only problem is, between the period of 2003-2004, I have incurred the charge amount of £18.00 exactly 7 times. I have no idea what this charge is for, can anybody help me with this, it must be a standard set charge for something.

 

Called HSBC and being there usual un-helpful selves, they said they cant tell me what specific charges are for, I will have to write in.

 

Is it important that the spreadsheet states exactly what this charge is for?

[PJB2007]

also I would somebody be prepared to scan over my spreadsheet to make sure it is correct?

[lateralus]

just call it what they call it (what do they call it: total charges?).

i'm sure bong or lively lad would be happy to look it over if you care to pm them and ask them. if you put it on here - be sure to xxx out anything like acct. no. or anything else you don't want seen by the world.

[PJB2007]

Have finished my spread sheet (I think) and just need some helpful soul to have a quick scan over it to make sure its correct before I take my next step.

 

What hosting site would be best to use so I can put it in this thread?

 

Yes I have deleted all my personal details from it!

[PJB2007]

anybody? any ideas?

[lateralus]

you could pm someone to look at them for you - you might try lively lad - or any of the site helpers or moderators. they maybe can tell you how to do it - i remember someone saying once you have to take a shot of it or some such thing - really don't know - if you reallly want someone to look at it - i'd say pm somebody.