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Jenquack VS HSBC.. Bring it on!!


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Hi everyone.

 

Firstly, may I just say that this site is fantastic. Was pointed towards it by The Motley Fool website and have been glued ever since! I read the advice that says before I start a claim to read through this site and forum thoroughly first, and thought it might be a bit tedious (sorry!). Quite the opposite! Everything I've read has only spurred me on even more to get HSBC for everything I can.

 

Anyway, back to my question. I'm about to send off a DPA request to HSBC (aswell as to Barclays and Egg), as I believe they have charged me around £1000 in the past couple of years. However, I have not been running my account as well as I should have been. Actually, that's the understatement of the year. My overdraft has been run down further due to unlawful charges, however its also a great deal due to me being terrible at budgeting, and resorting to tricks such as writing cheques with my guarantee card to buy food even when I know I'm over my overdraft limit!

 

This problem has escalated to the extent that yesterday I was contacted by a recovery agency acting 'on behalf of HSBC' saying that I was to surrender my debit card and chequebook. I have done so (in my local branch), and this leaves me with no means whatsoever to withdraw money (I put to my local branch how they supposed I feed myself, even if there is available funds, and they didn't really care at all!). Anyway, they are threatening to close my account and make me repay my overdraft as it is, without me angering them further by reclaiming charges!!

 

So, my question is this: Should I proceed with reclaiming the charges from HSBC (which would pay off around a 3rd of my overdraft- my only debt with them) at the risk of them closing my account and selling my debt to a recovery agency, or should I wait until I have put my account back into some order (this is some way off!) before claiming?

 

I have already taken the precaution of opening another current account for my salary to be paid into etc should this happen, but wanted to get some advice from people who have had similar experiences before proceeding!

 

Thanks for your help, and sorry this was a long post!!

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today is the first day of the rest of your life.

my son was/sort of better now but certainly not great/ bad with his money. i did the claim for him - he paid most of it back to the bank anyway - but at least he's on the right track now.

my first word of advice is don't - repeat - do not let them talk you into a managed loan which will be their next step. they will make you think it would be the answer to your prayers when in fact it will tie you to them indefinitely and at great expense.

ok, that's out of the way.

as for claiming your bank charges back - bet it's more than you think - and there is no reason not to go for it - right now! don't wait..... there is no reason to. if you are paying off a little bit of your overdraft each month - then i don't think they will sell you debt on. make that your goal for the moment - if your o/d is 2000 - then get it down to 1950 within the next 30 days - believe me - it's better than going down the managed loan route - as in the forseeable future - you could be out of trouble - with the managed loan it would go on and on and on.....

so, go ahead and send the dpa.

also, take a look at the debt section of the site to see if there is anything there which might help you.Debt Action Group

 

also, you might be able to get your statements for hsbc on-line:

 

INTERNET BANKING WEBSITE: -

HSBC INTERNET BANKING

 

HOW TO OBTAIN YOUR STATEMENTS ON LINE: -

Click on “My Accounts” choose the account that you wish to deal with and then click on “My Statements” this will give you online access to up to 6 years of statements. (Repeat for each account and use a separate spreadsheet for each account).

 

Hint: - Watch out for the moving "Prev" button it is replaced by "Next" which takes you back to where you started :rolleyes:

 

 

opening up another account was a good step.

follow this thread for step by step instructions and get back with any questions. there are a whole group of people here who are willing to help you get this right and get your money back

 

Newcomer? Here's A User Guide

 

good luck

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Hi Jen

 

On thing I would consider is contacting CCCS - which is a nonprofit organization the do not charge a penny its for people who are in financial difficulties. they can help with any outstanding debts. Start using your new account for you day 2 day stuff.

 

Meantime you can then start your action to recoup your charges it wont happen overnight whilst CCCS take care of any outstanding debt got all the interest froze /and reduced payments as well as reduced settlement figures.

 

It's basically what I did and now in far better financial control and than I ever was. it does get better but it does take a little time.

 

 

I hope this helps.

 

 

 

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If i've been helpful in any way....then tip my scales over there!

MCOL Filed 26th Feb 07

:-)

Defended 26th March 07:rolleyes:

PRT @ Cambridge 13th July 07:wink:

1st May Full Offer:grin:

Cheque arrived 16th May8)

 

 

 

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Hi,

 

Thanks for the advice so far! I had looked on HSBC internet banking and gone through a year's worth of statements, however I had not noticed the button that enabled me to go back 6 years! I don't need to go that far back as 6 years ago I was only 17 lol, but helpful nonetheless :-) Unfortunately, my now-dormant mastercard account with HSBC is the one that caused me the most charges (no information for that online), but I'm just going to amend my letter to ask for that information instead.

 

Lateralus, re your statement 'today is the first day of the rest of your life', you couldn't be more right! I actually feel more relieved than stressed as now I will be able to pay off my debts, run a current account the way it should be run, have access to all of my salary each month, and claim back the money that is rightfully mine in the process! One of the downsides is I no longer have a chequebook to send £10 cheques for SARs, (oh, the irony!) but hopefully my very supportive boyfriend will take care of that for me. There's no risk of HSBC talking me into a managed loan as they have already refused me this, saying that I can afford to live perfectly well without one. After reading threads on this forum about them I feel I have had a lucky escape. I am planning to contact CCCS at the next available oppurtunity and see if they can sort me out a DMP too.

 

I am now feeling very confident in claiming back these charges and taking HSBC on, so thank you so much for the boost!

Can I just ask, where is it that I find the spreadsheets for calculating the charges, and the overdraft interest?

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ok, just before i put you onto some more helpful info - i'll just stress that the overdraft interest is not the same as the 8% interest which you will be asking for when you actually file a claim (not in your first two letters).

o/d interest is when it says INTEREST - DR on your statements - it is interest which the bank charges on your o/d - and only a portion of it is reclaimable - so you don't just put the interest debits onto your list of charges - you would need to do the advanced spreadsheet to find out how much of each interest debit is reclaimable - either part or none or all of each interest debit is reclaimed depending on your balance when the interest charge was made - sound confusing - it is somewhat and if you aren't understanding it - you are best leaving those out of your claim - because the bank will reject it if it is not done spot on. so, with that in mind - take a look at this thread - it is post number 26 on this link:

honeygie v HSBC *****WON*****

 

 

btw, the interest calculation s preadsheets link hasn't been working for the last day or so - but should be ok shortly!

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Thanks for that, Lateralus, I've started reading that thread, but give me a while to finish it!

 

I knew that the 2 types of interest were different from the reading I've already done here, and I'm going to try and find out as much as I can about the overdraft interest that I've paid due to the charges before deciding whether or not I understand enough to put it into my claim!

 

Another question though, I need to send an SAR to HSBC for my mastercard to work out the charges on that account. Should I wait for that to be returned to me and then start on one claim to HSBC for the amount for both my current account and credit card, or can/should I send a claim for my current account charges in the meantime and then send a separate one for my credit card once this info arrives?

 

Once again thanks for all the help already- very grateful!!

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You can do either but if you do two claims you will have to pay two filing fees when you do your MCOL, you willl get it back when HSBC settle up with you I suppose it depends how rich your O/H is feeling when you file your claim/s.

 

pete

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Aaahh, that is a very good point! the fact that I didn't think of that before is precisely the reason I'm so glad I found this site!! My bloke is and will not be feeling very rich at all so I will wait and file the one claim for one big lump sum. It's just a shame because until I get a response to my SAR ( I can't even post it til weds when said bloke gets paid or his cheque will bounce and he'll be charged mega loads lol) I can't start proceeding with my claim, which is a bit annoying because I have all this motivation and nowhere to put it!!!

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Hiya Jen, unfortunately that’s a feeling most of us get here at times, we all have to be patient, I had to wait until I had been paid to file my claim and I am posting on two other threads here where the people are having to do the same thing. I have got to the winning post, they will too and so will you.

There are periods in this process where you have to just wait; there is nothing you can do apart from reading what everyone else is up to and maybe pointing someone in the right direction if you have been there before them.

And just think how pleased your other half will be when you get his charges back too you will be an old hand by then.

You will get there.

pete

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i'll send you a link for Right of Appropriation when i get onto my own computer jen. there's a letter you can send to your bank if you know that things like tax credits or any other benefits are going into your account on a certain day. it tells them not to touch the money because you need it to spend on e.g. food, bills etc. somebody might be good enough to send you the link before me, if they've got the link somewhere.

 

good luck - up em and stuff em!!!

If i've been helpful in any way....then tip my scales over there!

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My bloke banks with HSBC anyway, so they can already find out all they want about him! Or should we still worry about sending a cheque???

 

Re the right of appropriation, does it apply to funds such as salary, as well as benefits? As the only income I receive is from my salary. currently, i'm 400+ exceeding my overdraft limit, so on payday next week, I will have enough to pay all my bills, rent, and loan payment but this is all! The rest of my pay will be swallowed up by the amount that I have exceeded my overdraft limit (plus the charges etc), leaving me with no money available whatsoever for food, or petrol to get to work. literally not even a penny! I have tried to get this months salary paid into my new current account but my payroll dept wont budge and say it's too late, and that it's my problem not theirs!

 

Is there anything I can do about this, or am I just going on a very drastic diet?! as I said, I have already begged and pleaded with the bank on this but as expected I got the response that it's my problem not theirs...

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Update- my boyfriend has had a change of heart (using the assumption that it may take longer to get a response than it will for him to get paid!) and will write cheques for me now. Which means I can send off my SAR much sooner. YAY!!

 

I'm now also taking on Barclays, Egg, and Intellient Finance all at the same time! Do you think I'm a little too ambitious? If/When I win them all I estimate that the total I'll be claiming is approx a third of my total debt, so it seems silly not to!

 

Thanks for the link to the spreadsheets, I've registered for a Google account and can access them now. Questions though- I want to claim for all my charges, plus the overdraft interest. Which spreadsheet will I need to fill out? I know it's early days and I'll have to wait for the SAR to be returned from HSBC with my credit card charges to do anything with the spreadsheet but I just want to get my current account charges in order so I'm ready!!

 

Btw sorry all my posts seem to be really long, I don't know how I manage that!!

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to work out the overdraft interest you'll do the advance spreadsheet. i hope this link takes you straight to it. make sure you read the instructions on how to fill it in though - it can get a little confusing, but once you get the hang of it you'll be fine.

good luck

 

6. Interest calculation spreadsheets

If i've been helpful in any way....then tip my scales over there!

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if you are using vampiress chambers - i think you'll want these two: 6a Before court without interest HERE

6b From claim date with statutory interest HERE

i haven't looked at them but i think the first would be to figure o/d interest - and get you the figures for your letters and the second would be what you will want when you are filing your claim.

 

you'll have to read vampiress instructions on these as they are slightly different from the ones in the library.

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Thanks so much...I'll have a go at them- gotta get the printer working first to print the statements out- wish me luck lol!! Also gotta write the SARs for all 4 companies lol... thank god for copy and paste!! :D

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ok, just before i put you onto some more helpful info - i'll just stress that the overdraft interest is not the same as the 8% interest which you will be asking for when you actually file a claim (not in your first two letters).

o/d interest is when it says INTEREST - DR on your statements - it is interest which the bank charges on your o/d - and only a portion of it is reclaimable - so you don't just put the interest debits onto your list of charges - you would need to do the advanced spreadsheet to find out how much of each interest debit is reclaimable - either part or none or all of each interest debit is reclaimed depending on your balance when the interest charge was made - sound confusing - it is somewhat and if you aren't understanding it - you are best leaving those out of your claim - because the bank will reject it if it is not done spot on. so, with that in mind - take a look at this thread - it is post number 26 on this link:

honeygie v HSBC *****WON*****

 

 

btw, the interest calculation s preadsheets link hasn't been working for the last day or so - but should be ok shortly!

 

It should be mentioned that ANY interest added to that part of the overdraft that is a direct result of the banks charges is recoverable in total

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