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nyc_lond10 Vs HSBC Bank


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Hi everyone,

 

Basic details:

 

Claiming: £6,137 over 6 years

 

Bit nervous and anxious - sent prelim beginning of this week.

 

Anything else I should be doing? - Prepared LBA but not sure if should be adding interest just yet....

 

As always, any suggestions/advice/help would be greatly appreciated!

 

Thanks,

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Hi everyone,

 

Basic details:

 

Claiming: £6,137 over 6 years

 

Bit nervous and anxious - sent prelim beginning of this week.

 

Anything else I should be doing? - Prepared LBA but not sure if should be adding interest just yet....

 

As always, any suggestions/advice/help would be greatly appreciated!

 

Thanks,

 

Ok add the interest when you file at court. Spend the time reading some success threads in your bank forum this will prepare you for almost all eventualities.

 

 

 

 

 

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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No need to be anxious just make sure you keep reading the forum to clearly understand what you are doing and the next step in the process. If you get stuck ask as there are plenty of nice people here to help. On the subject of interest you won't be claiming the 8% interest until you file your claim with the court. :)

Guide to claiming back your bank charges

 

Most of your questions can be answered by following this link.

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UPDATE (and Happy Easter)

 

I am still a little confused with your explanation on overdraft interest

 

Here the background:

 

From 1997 until 2002 I was an HSBC employee and was provided with an authorized overdraft (with no interest charges whatsoever) - I recall the amount was roughly 3,000.

 

Not very long after being made redundant, they took away the "authorized overdraft" and it became "unauthorized" without me having a chance to pay anything back. Long and short, they charged me interest every month for having, in effect an "unauthorized" overdraft an charging me interest each month for that amount as I refused to accept a "managed loan".

 

I have two items on each statement listed as:

1) Interest to (the date so far)

2) Total Charges (which I think is a charge but not an interest charge)

 

So I as I understand it (please confirm) I can reclaim the overdraft charge, total charge but how using your spreadsheet (advanced) do I claim back the interest charge...?

 

Any help would be greatly appreciated....

 

Many thanks in advance...

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hi nyc,

 

using the advanced (complex) spreadsheet, you enter the total charges and any card misuse charges etc on the left hand side, and you enter the overdraft interest charged (say it was £15 debited on 25th March relating to the period 5th Feb to 5th March) you enter the date on the right hand side of the spreadsheet as 25/3/2007, enter £15, next column enter your account balance at 5/3/2007 (or if you wanted to be really accurate work out your average daily balance between 5/2 and 5/3 and enter that figure instead), leave the interest free overdraft column blank because during those periods when you were an employee you weren't charged interest so you won't have any to reclaim, and the spreadsheet will automatically work out how much of the £15 interest relates to penalty/total charges in the overdrawn balance. Sometimes it might mean all of it and at others only a proportion is reclaimable.

 

get back to me if this doesnt make sense to you.

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just to further clarify, this is nothing to do with the 8% county court interest that you claim when you issue your court claim.

 

my post was about calculating how much overdraft interest you are entitled to reclaim. Some people dont bother reclaiming this because of the extra work involved but in your case it sounds like it could be quite a sizeable amount based on penalty charges of £6k. If you decide to claim overdraft interest then you must notify the bank in your letters before you raise a court claim. This is the part that says I calculate that you owe me £x (penalty/total charges) plus £x (overdraft interest) which you have charged me in interest on that.

 

As you have already but only recently sent your prelim letter I would send another prelim (but don't give them any extra time - so its 14 days from original prelim before you send your LBA) adding in a line saying - I refer to my letter of xdate, please note the revised amount I am claiming and I look forward to your response by xdate (original deadline).

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Bong - thanks for that. I will work through your explanation. I might have to revise my initial claim downwards because I intially claimed for both (i.e. I just summed up all charges and sent of prelim) so think your suggestion of sending another prelim is a good idea and then follow-up shortly thereafter with the LBA which is due to go out on Tuesday.

 

Will let you know how i get on...

 

many thanks,

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sorry I thought you had only just sent the prelim. If your LBA is due on Tuesday, don't worry about reissuing prelim then (especially since its a downwards revision) but do make it clear in the LBA that you're revising the figures claimed.

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Just out of interest nyc, as an ex-employee of HSBC, do you know how far back they hold people's statements on microfiche? I had a claim that went back to 1993 because I had kept my own records but I know other people are trying to find out if HSBC holds information for more than 6 years.

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Bong, as far I am aware, they hold statements, on microfiche, for 10+ years, but dont have precise figure. I will look into it.

 

 

LBA - will go out as suggested with downward claim. (intial claim was roughly 6,000 - this is now half...)

 

Finally managed to work through contractual interest (roughly 700 pounds) - I was hoping it was going to be more as they charge me roughly 70 - 90 pounds a month in interest. Oh well, shouldnt be gready I suppose. But I can understand now why its not a popular excericse to work through - but certainly worth it.

 

Anyway, will look into the statements thing (with ex-colleagues) and come back with more certainty.

 

Thanks, Robert

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well done Robert, sorry to hear about the new result:( but better to know now than to find out later eh?

 

that'd be fantastic if you could find out about the microfiche, have you seen bankfodder's new thread? http://www.consumeractiongroup.co.uk/forum/general/80486-claiming-beyond-6-yrs.html#post712882

 

just guessing - as you were staff you wouldn't have had any charges to claim from 1997?

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Bong,

 

 

Your right, as I was staff, they didnt assess charges, and funny enough, would extend my overdraft from 1,500 to 3,000 to 5,000 and once up to 10,000 but charged me little if anything, then yanked the overdraft and assessed charges all while they provided a loan for continuing education - quite predatory.

 

Will look into the microfiche dates and post as suggested on Tuesday when I get the info...

 

Until then, thanks for support on contractual interest calculation...I

 

I particulalry like the added function of feeding the data into the 8% interest tab - quite clever you guys!

 

Thanks, Robert

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LBA DAY

 

- Just to confirm (as this is a hand holding excercise for me):

 

1) Sent out the standard worded LBA as per this site (just reworded first sentence as HSBC did respond, but not in a positive way i.e thank you and we will investigate your claim, blah blah)

 

2) sent out the revised claim using your advanced spreadsheet - which, was actually easier to use then I initially thought. Definitly recommend it.

 

3) Out in recorded delivery.

 

Question:

- Do i just send LBA out to the Quality Service Centre or do I send a copy to HQ as well (or is just the HQ copy) for the moneyclaim court...?

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hi again, send it to where you sent the prelim - presumably that's where the reply came from. no need to copy to HQ.

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any luck with finding out about the microfiche yet nyc? not meaning to hassle you of course but the debate is hotting up with 2 people now having been told by HSBC staff that the info is stored for the past 10/11 years and the Infomation Commissioners saying it isn't.

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Bong,

 

Unfortunately its taking longer than I thought.

 

The people I know have no clue on who to contact with regards to consumer record retention policy so I have had to try to find another way. On the one hand, I hear 6 years (paper, microfiche) and from someone else its 11 years. So...its hard to validate, although I am trying. They continue to claim its only 6 years but I think they are only thinking about the Limitation Act and not record retention/management policy which I am trying to get a hold of.

The problem is I think loads of peopl ehaving been calling and asking. So its made getting the info more difficult.

I will keep trying and keep everyone posted.

 

Robert

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thanks robert. maybe one of them could just try ordering an old statement on your own account to see what comes back? Sorry I know I'm being pushy but you dont often get the chance of meeting someone from the inside!:D

 

thanks again

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  • 2 weeks later...

MCOL Day - 14 day LBA letter term expires -

 

Please please tell/confirm to me what needs to be done...

 

1) I have waited the 14 days and heard nothing.

 

2) I am preparing MCOL claim today.

 

Copied the following wording into site (made necessary changes)

 

. The Claimant has an account 1234567 with the Defendant, opened May 2000 2. Since 01/02/03 the Defendant debited charges and interest in respect of purported breaches of contract. 3. Defendant is aware of all details as a list of charges has already been supplied. Another copy will be sent. 4. Claimant contends: (a) The charges exceed the Defendant's losses caused by the breaches; (b) The Term permitting the Defendant to levy such charges is unenforceable under the Unfair Terms in Consumer Contracts Regulations 1999, Unfair Contract Terms Act 1977 and at Common Law. 5. Claimant claims: (a) return of the amounts debited of £XXXX; (b) Interest per S.69 County Courts Act 1984 of 8% - £xxx [enter interest total at date of claim] continuing at 8% until judgment or settlement at a daily rate of £0.xx; 6. Alternatively, if the charges are a fee for a service, then they must be reasonable under S.15 of the Supply of Goods and Services Act 1982. 7. Costs allowed by the Court.

 

3) What else do I need to do and who else do in eed to sedn claim to? By registered post?????

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JaneyKate, Thanks for advice!

 

I have filed claim with MCOL yersterday and sent covering letter (as per this website) and schedule of charges to the court plus copy mcol claim receipt (which also has claim number on there) - unfortunatly not recorded delivery.

 

-Is it 28 days from when I made claim or 28 days from acknowledgement...?

-As time passes by, shouldn't my daily interest claim charge also need to be updated (probably neglible...)

- Anything else I should be doing...?

- When do I send letter to DG Solicitors and/or do I also send letter HSBC HQ...?

 

Many thanks, Robert

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Bong - I am now told that some statmenets can be retrieved but its on a case by case basis so I think HSBC have a 6 year blanket policy, but they can, depending on the account, provide longer dated statments.

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Hiya nyc.. it is 28 days from when the claim is deemed served,, not from acknowlegement. After this time it is more than likely your claim will be transferred to a local court.. you'll receive a letter from the court after a few days which will let you know whether you'll need to submit an aq. Although in alot of cases it seems the aq's are being dispensed with..

 

give me a mo and i'll post you a couple of links

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