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Yodaman 71 -v- Ex Wife (& HSBC)


Yodaman71
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Yoda,

go for it, it will work, read all the faq's and look at other people's threads to give you encouragement and help, most of the questions you may have others will have asked. Even so if your not sure just ask, there are lots of great people with good advice to hand. Stick to all the tried and tested and in a couple of months you'll have your dosh back, and a great big :D .

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  • 3 weeks later...
  • 3 weeks later...

I have now received in excess of 50 envelopes from HSBC and sort through and highlighed the charges and entered into the spreadsheet.

 

I am preparing the Prelim. letter but have a small question. The part in the letter that states 'I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken' in the overdraft interest is this the interest calculated on the spreadsheet.

Many thanks.

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I bet your postie is happy with you! :-D

 

The interest you put in first is interest charged on your charges.

 

At court stage you add in the other 8% interest.

 

Crusher :-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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Many thanks Crusher, letter has just been sent cklaiming a small but tidy sum.

 

I have now convience my wife to do the same and will of course keep you posted on the progress of my claim.

 

Thanks so much for your assistance so far.

 

Yodaman

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dear yodaman,

now, i can't let that go by and i'm off out in a bit - so i'll rush through this and if you've questions - you can get back and someone will answer or i'll be back tomorrow.

as for that sentence you pointed out -

when you look at your statements - you see all the charges with a DR next to them and cross referencing with the description of charges thread - you will see what you can claim for -

as for the interest DR - this is interest which has been charged on your overdraft - a portion or all or none of each interest debit may be reclaimable if it relates to the charges you are reclaiming - let me put a portion of that description of charges thread up here for you to read - then i'll add to it:

 

Overdraft interest

 

This is the single most confusing part of most peoples claim, and one of the most frequently asked questions

 

overdraft interest is applied to your whole overdraft, however if some of your overdraft is made up from (unlawfull) charges,

then a proportion of the interest has been wrongly applied and is therefore reclaimable

 

Example

 

you have a £400 overdraft, you purchase something that day for £200 so now you are -£200 on your current account balance, but on the same day £200 of charges are placed on your account, which means that your current account balance is now -£400 and the bank will charge interest on the whole £400, but as we are contesting that these charges are unlawfull, then the interest should not be placed on the whole amount, only on the amount that you have actually spent,

therefore in this example you can claim back 50% of the interest, however these calculations have to be done daily to truly reflect the amount which can be reclaimed,

 

Dont worry, Vampiress has made a spreadsheet that will calculate this for you, you can find it here, but please read the instructions that come with it;

 

now, if you understood that - we can make a start on it. so again - not all of the interest debit should be lumped in with your claim - that would be incorrect and the team going over claims will chew you up and spit you out if you do that. so, i'm going to assume you have enough of them to bother with (if you didn't want to try it - you should use the simple s/s and just leave them off) but if you want to try it - you need to use the advanced s/s found in the library.

i'm going to post something i wrote months ago to help people get through this - if you are a real s/s pro - please forgive the step by step approach - it was written more for people like me who had never dealt with a s/s before. here goes:

 

 

ok, take it from the top. you have all your statements for the last six years, right. go through them and mark all the charges: Charges description on statements - Please Read this is the list of charges you can claim for. now, next to those charges there is often an debit for "interest". so, as you are marking all the charges, mark all the interest items as well. look at everything with a DR next to it, if it is on the list in the link, mark it, and all the interest with DR next to them.

then, go to:6. Interest calculation spreadsheets go on England, Advanced - Works (or excel) to get the spreadsheet. now, at the bottom, click on Charges & Interest. this will bring up a blue and yellow spreadsheet.

start with the oldest item marked on your statements and start entering them, the date listed on the statement, next column the charge - just call it exactly what the bank called it and next column put in the amount.

when you come to an interest one, move tab to the right hand side and put in the date, the interest, the balance at that point (here i will tell you that if the balance is in the minus numbers, a portion of the interest will go onto the spreadsheet - if you are not in negative balance - nothing of that interest will be added - so you will only see an amount come up if you have a negative balance at that point). as for the agreed o/d amt.

"you only fill in that column if your overdraft was interest free, - leave it blank otherwise. to find out if it was interest free (which is unusual) simply look back to see if you were charged interest when you were in overdraft but within your overdraft limit."

(i left it blank - i'm using bong's words here as i never understood it until she wrote that)

proceed through your statements from the oldest to the newest adding on all the charges and interest debits. you will see a total emerging, one on the left side and another on the right side. at the end those are the "you have taken £XXXXX(left side) plus £XXX(right side) which you have charged me in o/d interest.....total £XXXX.

That's about as clear as I can make it - i don't claim to understand it - it just worked for me. This is the information you will need for your prelim. letter and the spreadsheet is your schedule of charges.

 

more info but not for the prelim. and lba letter:

when you have the spreadsheet done that far, you can click on the 8% button at the bottom and reenter it all again with the date (put a date about 30 days from now - that way, it will be figuring your 8% interest that you can add at the mcol stage at about the same date as you will be filing) it figures the 8% for you based on how many days have elapsed since you incurred the charge. this gives you the 8% interest you will add when you file your mcol.

 

again, i really never understood what i was doing - just followed the step by step instructions at the top of the site and honestly - the spreadsheet was pretty simple - even for me and i'd never done anything like it before.

good luck with it - you'll soon be ready to send that prelim and you'll be on your way to getting it all back!

 

i really hope this helps and doesn't just add to your confusion.

so, that's it - how to figure how much of the overdraft interest is reclaimable. get back if you've questions - although as i said, i'm off out tonight - but loads of others will help.

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