jk v HSBC ###won!###

[pinkduchess]

lol - janey

 

well explained gmmm

[givememymoney]

I think you have it. Your daily rate is I believe £1.33 so for every day from your MCOL HSBC owe you another £1.33 now about £80 in total. This is the 8% interest applied since you filed MCOL!!!

[Janeykate]

yep yep,,, just done figures .... god this is good...is like a light has switched on.... spent most of day in dark and then ........thanks to you gmm !!! ok. calmed down now..... will rewrite letter again.... with the right figures,,, hurrah... xxxxxx

[givememymoney]

And to follow up for those of you that don't know where the 0.00022 comes from it is 8% divided by 365 days (rounded up). So that equals the daily rate of interest which you the multiply by the total you are out of pocket for. Maths lesson over with for the day... I hope!!!

 

Just lets not get started on leap years!!!!

[Janeykate]

so, surely there's others who, like me,, who haven't completely understood the daily rate busines..?? please don't tell me its just me???

anyway ,,,, would it be good to perhaps put something in the post for mcol-----particullars of claim... perhaps GMM's post that clearly states how to calculate the daily rate following the filing of mcol claim??

[givememymoney]

I think that most people don't get a lot of things in the process not just interest rates but know that if they stick to the process it usually works out ok.

[Castlebest]

Gawd I overcharged HSBC... ho hum

 

pete

[lateralus]

just between us - gmmm............in your example, of 108 - why would you charge daily on 108 - wouldn't it be on just 100 - else -the old chestnut of charges only x0.00022 would read charges + interest x 0.00022. (actually i always thought it should be plus int but was told several times it's charges only....) so? help me out here, please....

 

janey - totally ignore this and go with what gmmm says - i certainly don't want to add to anybody's confusion - i simply tryng to clear mine up!

[givememymoney]

I have always thought that one persons confusion is another persons simplicity and one persons simplicity is another persons confusion!!!

 

You are right Lattie to point out that you don't add the daily charge to the £108 my post doesn't say that you should charge the daily rate against the £108!

 

Here is a worked example that hopefully will make everything clear:

 

My bank has levied charges of £3000 over the last 6 years

The also owe me £337 in overdraft interest on those charges (as calculated using the advanced spreadsheet)

The interest at 8% on those charges and the overdraft interest is £572

I have filed my MCOL on 1st April and have paid my fee of £120

 

Charges and OD Interest £3000 + £337 = £3337

8% Interest on charges and OD Interest = £572

 

My total claim on MCOL is £3909 + court fees £120

 

If HSBC were to settle today 19th April then this is what my claim is worth using statutory interest at 8%.

 

£3909 (as claimed at MCOL)

Daily interest at a rate of £0.73 per day (£3337 x 0.00022 rounded down) from the day I filed MCOL (18 days total) £0.73 x 18 = £13.14

Court fees £120

 

Grand Total as of 19th April in this worked example:

 

£4042.14

 

And lets not get started on contractural interest

[Castlebest]

Is your second claim that big Give ?

 

pete

[givememymoney]

I wish it was maybe if I add up all the credit card claims I have pending it will amount to that

[Janeykate]

Hi guys... well after a good nights sleep and having read back on my threads, I can see that I really was having a dum moment with understanding daily rate... really shouldn't have had that last glass of wine !!

 

anyway have redone letter and s/s calculated with the 8% up until yesterday. was thinking of adding in this para with letter... what do you think??

 

Please note the balance above is currently attracting £1.33 per day in statutory interest.

 

[lateralus]

you said: "my post doesn't say that you should charge the daily rate against the £108!"

 

 

lol

 

 

Well I tell them that my claim is £108 and for each day after I send them the details my they need to pay me say £0.20 per day. Which is equivalent to 8% per day.

 

 

 

 

looks like you did to me.....

but i totally get your explanation - and i may just refer peeps to it when they ask (if i can remember where i put it).....

glad you are on our side!

 

just like catching you out once in awhile - lol!

[Janeykate]

:-? Hi guys,, just one quick question.... with the dg letter should I include the s/s showing the account balance at time o/d was taken out.. or just s/s showing the 8% included..... I used the advanced excel s/s !! or should I send both. just dying to get it all in post tom am... along with court manager letter and draft directions thingamy!!

 

thankyou latty and gmmm

[lateralus]

just the 8% one will be fine.

[Janeykate]

Thanks latty.. ok all ready to go in tomorrows post.... Will let you know as soon as something happens.... hopefully an offer (in full)

[Janeykate]

dum de dum still waiting... no reply's.....from dg, court??. but started claim with hsbc credit card, for £177,,, just a tad smaller in amount to the other at 7k and received first ever letter.... no they won't refund my default charges, and although they carefully considered the oft's publication they do not accept its findings........ dum de dum.... and no they are not pepared to agree any refunds of default charges!!! pooooeyyyy. any one got a good template letter for reply...or shall I ignore this and just send lba?

[Castlebest]

Hiya jk I would hope you dont care what they think because we dont agree with what they say either.

Just follow your time table on the "very disapointed with your negative responce" line when your deadlines are up send the next leter or file your claim with the court.

They are playing the we are right game in the hope you will belive them and go away.

 

pete

[Janeykate]

sooo right.. was bowled over just by the fact I received a letter from hsbc, you'd think that with my claim for the 7k they'd be quicker to play the line 'we're right' than on £177!!!

 

lba,, shortly on its way (hsbc credit card)

2nd nudge letter to dg in next 7 days ( hsbc current a/c)

oh and barclaycard - - - letter on its way!! (1st one)

[Janeykate]

Have received notice of preliminary hearing on 14th June..........ages away!!!. Will be sending out 2nd nudge to dg tomorrow.... any suggestions as to whether I could do anything else to speed things up??

[Janeykate]

God this process takes forever... sent 2nd nudge to dg today....coz now I'm getting nervous and bored?? anyway to help with the boredom Have sent of SAR for 3 old accounts I had with hsbc,, read through Bong's thread and thought why not!! lba's off too for hsbc credit card! have to keep reminding myself and reading through threads that I will get the money back..... could do with it ,, vat man wants his money!!

 

any suggestions that might speed things up really appreciated!!!

[Castlebest]

Hiya JK, sorry your in DG's hands, I think its easy to loose sight of what we are trying to achieve with our claims.

 

Once you have filed your claim with the court you are dealing with DG Solicitors these are the people who will make you an offer and you will negotiate and agree your settlement with.

 

To some extent the County Court side is secondary, it’s just a means to force HSBC to look at your claim and be reasonable and responsible.

 

To do that you have to complete all of the Court paperwork on time and submit it, then it has to be processed by the court and assessed by a District Judge but at the end of the day the court will have nothing to do with your settlement. You will cancel your claim because you have reached a settlement with DG Solicitors (when the money is in the bank).

 

So all you can really do is nudge DG and try to get them to make you an offer.

 

pete

[Janeykate]

Well another week has passed, 2nd nudge obviously ignored... 3rd going out tomorrow.. I haven't been sent any more paperwork from the court,, just the date 14th June for prelim hearing!! This is getting frustrating and I'm getting nervous,, my claim is fairly large, hope I don't have to go to court as am in hospital on the 11th June and I might not be well enough to go!! Guess I'll just keep sending the nudge letters

[Janeykate]

ummmmm this may be a stupid question... but when I received the date for prelim hearing 14th june there was also an attached sheet stating:

Upon reading the papers

1. Allocate to small claims track

2. List for preliminary hearing on first open date after 3rd May 2007 time estimate 20 minutes to consider the further progress of this claim. If one party fails to attend without good reason, the claim may be disposed of on a final basis

3.If the defendant is aware of any other cases of a like nature proceeding in the court, potentially to enable cost saving case-management and listing, it shall within 14 days of receipt of this order notify the court and the claimant, wherupon the case may be relisted on a date different from that shown above, in which case, a further notice of hearing will be issued.

 

should I ring court to see If I need to provide anything either before or on the 14th??

[Castlebest]

Hiya JK, its best to check these things, just to put your mind at rest.

 

pete