Jump to content


  • Tweets

  • Posts

    • He is still trading.   I won't get anything out of it, no.  But is that the point?  Not charging it means the Govt misses out on important revenue 
    • for whatever reason, if you did not get the original PCN on the car/by hand nor in the post before things escalated you need to appeal using the correct forms, not a soft appeal to the issuing council Which forms to use for which offence pe2/3 & te7/9 - Local Authority Parking and Traffic Offences - Consumer Action Group  
    • as this situation has now come up again for you, how confident are you that if you get on the straight and narrow with having a respite of 60days (Options for dealing with your debts: Breathing Space (Debt Respite Scheme) - GOV.UK (www.gov.uk)... would you then be able to resume ok? if not quite honestly, the very best thing you can do is to get ALL your debts defaulted by the issuance of and the registering of a Default Notice from each creditor. this is done by stopping ALL PAYMENTS, it wont hurt you short term, esp as all the debts are still with the Original Creditors. this of course will kill credit for 6yrs, but, will cause the debts to vanish from your file (paid or not, paying or not) on the DN's 6th B'day, but of course that wont mean the debts are not still owed, legally, just your file will be clear of them all. if you read a good 10-20 of the stories in this very same forum you found to start yours, you'll soon get the idea behind the advice given. as for things like IVA/BK etc NEVER EVER do those, that secures unsecured debt. just contact one of the free DMP providers and get breathing space implemented, that gives you a 60 day buffer to firm up your future actions. but DO NOT enter into a DMP, do one yourself. they can be a bit pushy, but simply insist you just want breathing space invoked, i would only be giving them enough info to achieve BS too, don't give them anything you don't need too, they are funded by the banks and debt collectors and can sometimes be over intrusive and nosy wanting info that is better not revealed. dx    
    • “Not realising it was a no parking zone” doesn’t help you if the timing is correct, as (at least, on Google Maps / View) there is clear signage ('7am to midnight', parked at 15:22) What might be worth pursuing is the "ticket handed to driver" aspect : do you have any view on why they would be  stating that?
  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like

APR for HSBC + Overdraft Interest


mollythemonk
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 6254 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi, i have recently recieved a copy of my statements for the last 6 years with HSBC, however i am no longer with the robbing b*****ds. Does anyone know roughly what their interest rate is (APR) for the purposes of my spread sheet. Also is their overdraft limits interest free?, as i am unable to gain this information direct from HSBC now i have left.

 

Here's hoping you can help

 

Mollythe monk

Link to post
Share on other sites

Hi Molly

 

Have just copied this from HSBC's web page You can get there for yourself - don.t need to be a customer for access to their rates Home: personal, business, online, internet, banking: HSBC Bank UK Good luck - if you need anything more specific that you con't find on their open site let me know

 

 

The Bank Account overdraft rate is 18.3% EAR typical (subject to status). Find out more about our Overdraft Service.

Link to post
Share on other sites

Hi thanks for that.

 

Sorry to sound think, but i need the APR and the website gives me the EAR are they the same? can i use the 18.3% quoted

 

Molly

 

Hi . I used the EAR because that is what they quote on their website. They say it is a more accurate figure. So I think it's OK to use it. They will soon tell you if it is wrong ! Which spreadsheet are you using? I used Mindzai's and found it very easy.

 

Good luck

Link to post
Share on other sites

Hi, thats great i will use the 18.3% then thanks. I also used the Mindzai, and yes found it easy to use, however i am now ready to send and am a little confused, so you may be able to help.

 

I want to claim for Contracual which i assume is the 4th and final tab on the spread sheet? Do i print the whole of this tab to send quoting in my letter only the penalty amount and compound interest amount combined? which would equal £6,027.35 (combined) and leave out the interest paid on penalties, Compound interest paid on interest and combined interest & c.interest (on the right hand side) until raising court claim. I have read the forum for about 3 weeks now, and still dont truly understand. Also i have read that you can only claim up to £5k?

 

Sorry if this sounds confusing

 

Molly

Link to post
Share on other sites

Hi, thats great i will use the 18.3% then thanks. I also used the Mindzai, and yes found it easy to use, however i am now ready to send and am a little confused, so you may be able to help.

 

I want to claim for Contracual which i assume is the 4th and final tab on the spread sheet? Do i print the whole of this tab to send quoting in my letter only the penalty amount and compound interest amount combined? which would equal £6,027.35 (combined) and leave out the interest paid on penalties, Compound interest paid on interest and combined interest & c.interest (on the right hand side) until raising court claim. I have read the forum for about 3 weeks now, and still dont truly understand. Also i have read that you can only claim up to £5k?

 

Sorry if this sounds confusing

 

Molly

Don't worry it took me weeks to getthings sorted in my head too! You need to print out two sheets from the spreadsheet - the first, blue "Charges and Interest" and the last, green, "C.Interest". In your letter under "What I require" heading you ask for the charges (see total on top of first column on "Charges and Interest sheet), the interest they charged you on this (see total from top of column "interst paid on penalties" on Charges and Interest Sheet) plus the interest you are claiming from them for having your money (see Total interest box from shaded area at very top of Charges and Interest sheet) Overall total should equal amount quoted in "Total Inc Interest " Box at top of Charges and Interest Sheet.

 

With regards to 5 thou limit, there is no such thing. However 5 thousand is the limit of claims that can go through the small claims court - the easier route. But there is debate about whether the £5k limit refers to the charges, or whether it includes the interest you are claiming. The court directions seem to contradict themsleves a bit. I have gone for it - my charges were £2500 + with intesrest it comes to £5000 + but when I hand papers in to court (tomorrow) I will be pointing aout the original claim is £2500, rest being interest, so it should be allocated to small claims.

 

Hope this helps - it is of course only my understanding from reading here :)

Link to post
Share on other sites

Mostyn,

 

Sorry, but just so i'm clear, i am claiming for 3 amounts from the outset

 

Penalties - paid on the account

Total Interest - paid on penalties

Total Interest - owed (in theory) from them having my money over that period

 

Giving me a total to claim of £X

 

And i am able to claim all this from the outset, as i have read numerous sections saying that certain interest can NOT be claimed until raising the court claim??

 

The prelim letter provided in the library prompts for only 2 figures then a total, where as i have 3 and then a total, do i just add an extra line in then total???

 

Sorry to be a pain, but i need to be sure..

 

Molly

Link to post
Share on other sites

Mostyn,

 

Sorry, but just so i'm clear, i am claiming for 3 amounts from the outset

 

Penalties - paid on the account

Total Interest - paid on penalties

Total Interest - owed (in theory) from them having my money over that period

 

Giving me a total to claim of £X

 

And i am able to claim all this from the outset, as i have read numerous sections saying that certain interest can NOT be claimed until raising the court claim??

 

The prelim letter provided in the library prompts for only 2 figures then a total, where as i have 3 and then a total, do i just add an extra line in then total???

 

Sorry to be a pain, but i need to be sure..

 

Molly

 

Hi ...sorry for delay ..just got back home..and off again shortly....

Yes you claim ALL 3 amounts in your letter to HSBC. as per the schedules you send with your letter.

I think you may be using an older draft letter, it is only recently that people have begun to claim Contractual, compound interest.Try following threads from Bankfodder, HSBCcrusher etc where you will find other draft letters, or just add the extra yourself.Also have a look at BONG vs HSBC Contractual interest 13 year claim Post 47

 

The reference to NOT claiming interest only refers to the court's 8% which you claim at point of submitting claim to the courts IF YOU HAVEN'T ALREADY CLAIMED Contractual Interest. i.e it's one or the other, but of course CI gives you more, and to many minds justifyably so since it is the interest (compounded) that they have been charging you all this time (also compunded)

At the point of submitting claim to court you can then offer alternatives...Compound interest at the current rate (18.3%)...or at lower rate for lending (am still trying to find this out) or if they do not allow either of these, then the "default" 8% court fixed rate. Just don't mention the 8% to HSBC now...that is your default position if the court does not agree with either of the others.

 

 

Hope this makes sense..am in a rush to get to work ..back here around midnight if it helps

Mostyn

Link to post
Share on other sites

Thanks Mostyn, here is the section adjustment i hope it makes sence, if so i will be sending tomorrow, have a quick read and let me know as soon as you can.

 

Appreciate all your help.

 

I calculate that you have taken £3,919.25 in penalties plus £295.41, which you have charged me in overdraft interest for the sum, which you have also taken. As these charges were debited from my account without my informed consent and, in my opinion, unjustly enrich the bank, I am applying interest to them at your current interest rate taken from your website of 18.3%, compounded annually. This has been applied to each charge through out the last six-years up to and including 23rd December 2005, the date on which I received your last and final charge on my account. The total owed is £6,441.78. I have enclosed a schedule of the charges, which I am claiming with this letter

 

 

Molly...

Link to post
Share on other sites

Look fine Molly ...and in any case you can always send them an update whislt your are waiting for the date when you file your court papers , if you find any mistakes.. Will pm you a copy of my letter when I get back from work.

Mostyn

Link to post
Share on other sites

  • 2 weeks later...

Hi there Molly. How is it going? First letter sent yet? I have just had an offer of £2300+ against my claim of £5k+, before I submitted court claim. Think they are trying to buy people off at earlier stage...but it wont work with me.

Let me know how things go

Link to post
Share on other sites

Hi, Mostyn.

 

Have sent charges, and have recieved letter saying they are looking into it ????????????? 14 days is up on Monday so will be sending the second letter then. Will let you know how it goes. Keep in touch

 

Molly

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...