un1boy v HSBC - SETTLED!

[un1boy]

It'll probably be for the amount on the claim form and they'll ignore the daily rate of interest.

 

If they do this I personally wouldn't recommend making a fuss over the few pence they've missed off.

 

No, me neither. I'd be happy with the full amount plus interest and court costs to be honest. Is that the sort of way they'd settle it out of court?!

 

Thanks again.

[un1boy]

well they replied but with a fob-off letter! MCOL here I come!

 

I saw this in the news - any ideas how this will affect claims?

 

Lloyds TSB and Halifax have seen recent legal bids by consumers to reclaim overdraft charges in the small claims court rejected on the grounds that a case has been submitted to a higher court which could set a precedent in these types of cases.

[barracad]

It won't affect claims. Some claims have been out on hold, not 'rejected', and the case in question has been settled now anyway so there is no need for others to be put on hold.

[Spiceskull]

well they replied but with a fob-off letter! MCOL here I come!

 

I saw this in the news - any ideas how this will affect claims?

 

Lloyds TSB and Halifax have seen recent legal bids by consumers to reclaim overdraft charges in the small claims court rejected on the grounds that a case has been submitted to a higher court which could set a precedent in these types of cases.

Did you see this in yesterday's Daily Mail or elsewhere? If elsewhere, could you post a link for us to catch up please...

 

See the steps I took to get my bank charges back

Spiceskull v HSBC

Thank you Consumer Action Group

Read my blog

View a heated discussion about bank charges on the Times Educational Supplement bulletin boards

 

[un1boy]

To be honest, it was on an e-noticeboard at work, but all news items on it have been published publically, it's like a digest of the day's news. Where in particular the article was it doeasn't say, I'm sorry. I am however trying to find info on it, so anything I hear I will let you know!!

[un1boy]

It won't affect claims. Some claims have been out on hold, not 'rejected', and the case in question has been settled now anyway so there is no need for others to be put on hold.

 

How was it settled and what was the outcome and was there a presidence set?

[un1boy]

well they replied but with a fob-off letter! MCOL here I come!

 

I didn't have time to tell you the full story about this, but I didn't have a reply on the last day of the timetable so I called them to say I had filed a claim. They got all flustered and told me they were sending me a settlement letter so I withdrew the claim and the letter I received was just a fob-off letter. I now have to wait for the refund to come through before I can re-issue the claim again.

 

I know I was a bit stupid calling them, but I want to look as considerate as possible incase it does get to court, you know?

 

anyway, it doesn't matter too much, MCOL set up and waiting. Will pay it as soon as I can!!

[un1boy]

Well, update as promised - the refund cheque cleared and I have now re-submitted the claim to HSBC.

 

What happens now? Does the court write to me and od HSBC get 14 days to enter a defence?

 

I ahve read other Threads, but get a bit confused with it all to be honest.

 

They are silly because now they owe me just over £600.00 rather than the £440.50 I was claiming originally.

 

Ah well, when this is done - on to the next!

[un1boy]

Just a quick update - had a letter from MCOL saying that court papers will be were issued 19.07.2006 and would be deemed served yesteraday (24.07.2006).

 

I've got to wait now for their response within 14 days.

____

 

Just a quicky about my credit card claim - only short though so ddin't see point in starting a new thread!!

 

I had some trouble getting my Credit Card statements because they sent my current account ones, but not the CC ones. I sent a Data Protection Act LBA from the library and they sent me all the statements, including my current account ones again, lol!!! It was funny though, because I got loads of apologetic letters saying how the were sorry the CC ones weren't sent originally and they will be with me within 7 days etc. Haha - talk about keeping them on their toes!!

_____

 

PS sent a prelim for 45.00 pounds of credit card charges - HSBC are sending me a refund for this. Shoudl get the cheque asap. they are calling me back today to confirm when it's been issued, if I don't get a call I have ssured them they will get an LBA!!!

 

Hehe, bring it on.

[un1boy]

Oh oh, I have had a thought - I haven't had a settlement offer yet but I have been pondering something for a few days and don't know if it would work - when they offer me a full settlement and ask that I keep it confidential, you think I could say that I don't agree with the confidentailly clause UNLESS they write-off the debts currently with a collector AND remove the credit default?

 

Do you think this would work, or could it effect the original settlement offer?

 

I think it's worth a try because they won't want to go to court, so if they say no - I'll say, thanks for my 600 smackers but I'm not accepting the confidentially clause. I don't mind keeping it quiet if they write off the 5 grand and remove the default, which they put on there a week before they were meant to. It all depends I guess how much they'd want to keep me quiet, eh? I'm not shutting up for 600 quid though.

 

Does anyone know what the effects of a confidentiality clause would be? would I not be able to discuss it with ANYONE?! etc etc.

 

What do you guys think of this?!

[barracad]

When others have tried similar tactics they haven't paid up any extra, just sent the same amount but without the confidentiality clause.

 

The easiest thing to do is when you receive your offer, cross out the confidentiality clause and send it back.

[un1boy]

Well I checked MCOL today and HSBC have acknowledged my claim 28.07.2006 - does this mean I will be hearing from them soon as to whether they filing a defence or not?!

 

Also, I'm claiming from Co-Op and wondered if anyone had a lil advice for me, here's the problem:

 

I work for one of the companies in the same group as the Co-Op bank and last year wasn't paid properly so got a load of charges (around £300.00) refunded in charges as it was my employer's fault. I have look throuhg some of my statements but it's difficult to work which dates I shoudl use and take off when I'm trying to work out the interest. I have also had quite a few refunded in the past, just by asking, hehe.. so which dates do I use to calculate the interest.

 

I am listing all charges and then all that have been refunded and minusing them from each other so that I get a total amount of charges to claim for.

 

Does the above make any sense?

[un1boy]

Look what I found in the news:

 

Alliance & Leicester has reported interim pre-tax profit decreased from £272m to £257m in the first half of 2006 as bad debt charges increased from £30m to £47m. The bank also achieved net new mortgage lending of 5.3%, compared to its traditional market share of 3.5%, and 151,000 new current account customers.

 

Egg has reported a loss of £39m in the first half of 2006 compared to a profit of £13m in 2005, as it increased its provision for bad debts by 42% to £166m. The online bank also reported a decline in the number of loans it sold, from 90,000 in the first half of 2005 to 50,000. This led to a decrease in income from payment protection insurance sales, from £105m to £71m.

 

How interesting theya re blaiming the decreased profits on oncreased debts, lol!! Do you think us claiming cahrges has anything to do with it?!

 

lol

[un1boy]

Ok well I've just got in and found a letter from MCOL saying that HSBC are defending the claim!!! It is the acknowledgement of service that has a tick box that says "I intend to defend all of this claim".

 

What happens now? I'm actually a little scared now, lol.

 

Any ideas?

[Michael Browne]

They now have 28 days from the original date of service to file a defence

[un1boy]

Ok, but is this normal?? I.e. Do you think they will make me an offer? I may be thick here, but what actually constitutes a defence?

 

Thanks for this!

[Michael Browne]

They may go through the rigamarole of filing a defence (which will be waffle, impressive looking waffle, but waffle nevertheless) and allocation questionnaire etc, but at some point they will settle.

[un1boy]

Right, ok - I hope so!! lol. what sort of things do you think they could use as a defence though?

[Michael Browne]

Have a look here:

http://www.consumeractiongroup.co.uk/forum/barclays-bank/11583-barclays-filed-defence-interesting.html?highlight=HSBC+defence

 

It's from Barclays, first I could find quickly

[un1boy]

Aw thanks mate - I'll have a check overn it. I got a bit worried yesterday but I realise it's standard practice now. i've had a bit of a tough last few days so wasn't thinking too staright, lol.

 

Thanks for your help.

[un1boy]

Well, HSBC acknowledged my claim 28.07.2006 saying they would defend it in full. Yesterday I got a letter from DG Solicitors saying that although thjey wuold win, they atre mindful of the time and management costs involved blah blah and they are offering me a FULL settlement of 600.27!! They say they will pay it off my current debt with MCS and of course, want a confidentiality clause.

 

Am I right in thinking my next move is this:

 

1. Cross out them paying it off my debt and ask for a cheque instead?

2. Cross out the confidentiality clause?

 

Well, I'm so surprised it's been this quick. I'm not getting too excited until I've actually got the cash in my caccount!!

 

thanks guys, I'll keep you posted and of course, a donation will be on it's way as soon as the cheque clears.

[Spiceskull]

Just been through your thread - I cannot find any mention of your debt. I assume you owe HSBC more than the £600 they are refunding...

 

You could ask for a cheque, but you are not likely to get it. The Ts&Cs are quite clear in stating that they can shuffle credits around accounts to balance the books (usually in their favour...)

 

Sorry - just noticed the bit about MCS...ask for a cheque. If they have sold the debt on, then there is very little that the bank can do with the money.

 

I am still not quite certain what you owe, and where, but the last thing you want is for them to send the money elsewhere. If you could clarify the full position between account/MCS/and what you owe in one post, I can give a better answer.

 

And yes, cross out the confidentiality clause - a single line through the words, and then initialled, should do the trick.

 

Congrats on the win though.

[un1boy]

Thanks for this Spiceckull. I had a credit card with HSBC which I defaulted on and they ended up sending that and my overdraft to MCS whilst I was a student. They sent them to MCS a week before they were meant to, which is a totally seperate issue in itself. The total debt was just under 6k now it's about 4k so yeh I do have a debt which has now been sold on.

 

So, you reckon I can ask for a cheque then?

 

Thanks for the congratulations, I'm waiting on Co-op and Egg's now and just sent the Lloyds LBA!!

 

Thanks for all your help. Let me know if there is anything else you need to know!

[Spiceskull]

Hmmm...it really does depend on who actually owns the debt. If HSBC, or a subsidiary, then they will keep the money, if not then I would ask for a cheque. Ask and see what happens...

[un1boy]

Ok, well MCS own the debt now so I'll ask them. In my future letters I'm going to state right from the start I want it as a cheque!!

 

So, if MCS own the debt (which they do) you think I'll be ok asking for a cheque, just by crossing it out on the form?

 

How do debt collectors work anyway? I mean, how do they make their money? It baffles me.