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HSBC -Arrangement fees


jimmylove
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Im about to submit my letter to HSBC after totaling up the charges that have been appied to me. They are calling them 'arrangement fees' on my statement. I have for the past 6 months been going approx £100 over my overdraft limit each month and the reason for this being is because they charge me £125 each month for going overdrawn!! (Jan 07 was £150 for some reason?) Am I still entitled to claim this money back as as far as I can see it is an overdraft charge rather than an arrangement fee. Am I right? thanks in advance

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i think everyone got new terms and conditions in dec. notifying that they are changing a few things - and yes, it is probably to rake back some of their losses. as far as i know, yes, it is reclaimable. just look for anything on your statement with a DR next to it - with a few exceptions (services, machine charges on old statements, etc - see charge descrip. thread) Charges description on statements - Please Read (i've asked someone to update it) they are ok to claim. they are calling it an arrangement fee to make it look like a service which it is not, it is a charge. you've seen all the faqs and step by steps? Newcomer? Here's A User Guide. just follow these, you won't go far wrong. do you have much in the way of overdraft interest on your statements. if so, you might want to follow a little guide i wrote to help with the difference between the interests as it is a little confusing. if it helps, read this, post number 9:HONEYGIE sees you HSBC! (multipage.gif1. welcome to the forum and if you have specific questions - ask away. that's what we are doing here.

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thanks for your replys....i read the inspiring thread on honeygie's experience which gives me the confidence to take the plunge! As im ever the optomist, i was wondering what your thoughts are on the worse case scinareo should everythign gp wrong. Will I just have to pay the court costs ? Will I have to pay for their defence as well? Will i have my mortgage revoked (it is with the hsbc also) Will I be asked to pay my overdraft back immediatley? Or is it a simple case of hanging on in there and ignoring their intimidating tactics of filing a defence etc?

 

Jimmylove x

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