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Hi all!

 

The share-holders have had enough bubbly from me - I think it's time to get drunk on them..

 

I have read through FAQ's other cases and anything else that looks useful.

I now feel confident enough to go ahead and start the ball rolling, I do have a few queries which I will get to later. First I will give a summary of my situation.

 

I am lucky enough to have my entire 6 years statements for my personal HSBC current account in excel format - it was just a case of running a few macros to get a the desired information..

 

Over six years I have paid £2,827.00 in charges relating to:

 

Card misuse (spending on switch while over OD limit)

Reversed DD's

Going over OD limit

 

Charges range from £10 to £125 in a single charge.

 

Right now I am ready to send the Preliminary Approach for Repayment.

I have already phoned the bank to request six years of statements (so I have a hard copy).

 

Before I go ahead I would really appreciate some clarity on some issues which I still find a bit confusing..

 

1) In the Preliminary letter there is the paragraph:

"I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

I enclose a schedule of the charges which I am claiming with this letter"

Obviously I know that they have taken £2,827.00 but how do I know how much interest has been charged on that amount? I have completed Vampiress' spreadsheet which provides a lot of interesting figures, but I still do not understand how I work out what the interest has cost for the charges only. I know how much debt interest I have paid over the last six years but a lot of that sum will be valid interest payments for time spent in my overdraft.

As you can see the interest part of the claim is confusing me..

 

2) I have about 20 charges at £10 (for card misuse - applied at any time when I over spend on card), the rest of the charges are at least £27.

Am I able to claim on these £10 charges? I know this may have been covered but I cannot find a definitive answer.

 

 

Many thanks to all who help - I will keep this thread updated.

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So far as the interest on your charges is concerned most have not bothered to work it out. The hassle is deemed not worth the effort and another thought is that more than covers any cost they have have had for sorting out any OD cost, etc. You can still claim 8% if you get to court.

 

I'm not 100% but I'm sure you can also claim the £10 for card misuse.

 

Neil.

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So far as the interest on your charges is concerned most have not bothered to work it out. The hassle is deemed not worth the effort and another thought is that more than covers any cost they have have had for sorting out any OD cost, etc. You can still claim 8% if you get to court.

 

I'm not 100% but I'm sure you can also claim the £10 for card misuse.

 

Neil.

 

That helps.. many thanks

 

If anyone is 100% - let me know

 

Thanks

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2) I have about 20 charges at £10 (for card misuse - applied at any time when I over spend on card), the rest of the charges are at least £27.

Am I able to claim on these £10 charges?

 

Yes.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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  • 4 weeks later...

Update..

 

I receive a standard reply on 19th.. we do not agree blah blah blah.

 

Now putting together the LBA, I have a slight problem.. they have charged me another £250 since my prelim AND there is another £125 comming out at end of month! (P!ss take or what??).

 

I have redrafted my lba to reflect this - see below, if anyone has any sugestions/alterations please let me know - ill be sending tomorrow!

 

Lastly - is it worth sending a copy of this to my new friend Mr Langdale's Email address? would that have any benefit?

 

Many thanks one and all for your continued support.

 

Dear Mr Langdale,

 

ACCOUNT NUMBER: (xxxxxx) xxxxxxxx

 

Thank you for your letter dated 19th June. I am disappointed that you do not agree with my contention of charges. I would like to reiterate my concerns and requirements one final time, in hope that you will reconsider your position on this matter.

 

As stated in my previous correspondence, I now understand that the regime of 'fees' which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent Consumer regulations.

 

As I have mentioned in my previous correspondence, I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

Since my previous correspondence, five more charges have been levied on my account totalling £250. Furthermore you have indicated via online banking, that you will deduct £125 from my account on 29th June.

 

I calculate that to date, you have taken £3,077.

 

I require repayment in full of this money, and any impending charges should be cancelled.

If you do not comply fully within 14 days then I shall begin a claim against you for the full amount plus interest plus my costs and without further notice.

 

Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act. If you do not understand what this means then seek advice from your legal department.

 

Finally, I also note your suggestion that I complain to the Financial Ombudsman Service if dissatisfied with this decision. However, please be advised that it would be inappropriate to complain to the Financial Ombudsman Service where the only forum which can determine a dispute on the legality of charges is my local court.

 

Yours sincerely

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Looks fine.

 

I wouldn't bother with e-mail - just send the letter First Class.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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sounds fine but drop the first paragraph, also what does this regard?

 

"Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act. If you do not understand what this means then seek advice from your legal department."

 

if its to do with the findings from the oft enquiry into consumer credit cards, then it really isnt applicable in this case, as that was merely a guideline to credit card companies and not to the banks

HSBC- £4995, settled payment in full

if you found this post helpful, please click the scales (top right of post), ta ;)

 

if you're not sure what to do?, Read the FAQ's

Unsure about what to claim, or confused about overdraft interest? Charges explanation

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sounds fine but drop the first paragraph, also what does this regard?

 

"Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act. If you do not understand what this means then seek advice from your legal department."

 

if its to do with the findings from the oft enquiry into consumer credit cards, then it really isnt applicable in this case, as that was merely a guideline to credit card companies and not to the banks

 

It is in the library LBA template - I will drop this paragraph.

 

What should I say instead of the first paragraph? surely I need to introduce my letter?

 

Many thanks..

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I've been looking at my previous statements and while they have taken in the region of £2,500, I have noticed 4 or 5 charges for £1.00 scattered around. This seems like a reasonable charge amount and am wondering if it's worth including those charges, if only as a reference to make said point.

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Do you know what the £1 charges are for?

 

I had a few of these on my statements and these were all cash machine charges from a few years ago when you used to get charged if you didn't use an HSBC cash machine - these are legitimate service charges and cannot be reclaimed.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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Ahh yes, I remember those charges. I had a few reversed when I told them I was forced to use an alternative machine because theirs was out of money. If all the charges were £1, we'd all be happy. You wouldn't mind that so much.

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either copy and paste, or do it all by hand

HSBC- £4995, settled payment in full

if you found this post helpful, please click the scales (top right of post), ta ;)

 

if you're not sure what to do?, Read the FAQ's

Unsure about what to claim, or confused about overdraft interest? Charges explanation

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  • 2 weeks later...

Hi all!

Well the 14 days of the LBA is fast approaching its deadline (Thursday).

I'm glad that I've had this breathing time because it's given me ample time to continue reading the site and expand my knowledge/understanding.

I now fully understand the interest calculations made on the template spreadsheet, but do have some questions..

1)

Since my original prelim, charges have been incurred to the tune of £375!

I mentioned part of these charges and requested pending charges to be stopped when I sent the LBA (of course charges were still taken).

The rules seem to be that you can only claim back 6 years, this would mean that some of my charges back in 2000 would be out of date.

My question is: Can I continue to claim for all of my original charges AND add on recently accumulated charges in my court claim?

2)

Now that I understand how the interest on penalties works (totals about £400 + 60 if it goes to court), can I add this figure to my court claim, even though I omitted the part about interest in my prelim?

If I do/can add these interest charges onto my claim, am I opening myself to possible adverse consequences/delays etc.?

I hope all that made sense and I really appreciate your time in helping me - it will not be forgotten.

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1) Yes. You can add on to your claim right up until you submit it. The 6 years counts from when you first contacted the bank acount it, so count 6 years back from the date you sent your SAR.

 

2) I assume you are referring to the 8% interest? If so, this can only be added when you start the court claim so you are adding this as the right stage.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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1) Yes. You can add on to your claim right up until you submit it. The 6 years counts from when you first contacted the bank acount it, so count 6 years back from the date you sent your SAR - (Subject Access Request).

 

2) I assume you are referring to the 8% interest? If so, this can only be added when you start the court claim so you are adding this as the right stage.

 

Thanks barracad!

 

Although the interest I'm reffering to is the interest on charges while in my overdraft.

 

Any oppinions?

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Pleeeease someone help me out with these little Q's - getting close now!

Ok, deadline is today so it's time to take them to court!

So far I have only received one response from HSBC (to my prelim) telling me to buggar off.

Is it common for them to completely ignore the LBA???

Second, I have asked this already but did not get a clear reply..

I would like to claim back the interest charged on overdraft debts caused by their charges (I have used the spreadsheet to work it all out).

Can I do this even though I did not mention it in any of my previous correspondence? (To clarify.. I'm talking about O/D interest not the 8% 'when it goes to court' interest.

Lastly.. I would like to know what people think about the idea that they might put all our claims on ice until a test case in heard later in the year?

I read about this in a post today, wondering if it holds any water etc..?

As always.. Many thanks

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Is it common for them to completely ignore the LBA???

Doesn't make a difference - you told them you'd take them to court when the 14 days are up.

Can I do this even though I did not mention it in any of my previous correspondence?

Yes.

I would like to know what people think about the idea that they might put all our claims on ice until a test case in heard later in the year?

 

Not very likely in my opinion. The 'test case' could have been allocated to Mercantile Court months ago for all we know, and so far only 3 cases that we know of have been put 'on hold'. In any case, it is for the judge to decide this, not the banks.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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Update + Couple of quick Q's..

 

I have completed a MCOL claim and paid the 120.

 

In my claim on the pdf claim form that they generate it states that my total claim is for 3700 this amount does not include the 8% interest, but I have stated s.69 - Is it right that my total claim amount does not include the 8% interest?

 

Second.. at the top of the pdf it says 'In the (town) Couty Court', is it right that it says County Court even tho this is a small claims procedure?

 

Thanks

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You should have included the 8% interest in your claim amount - you will need to contact Moneyclaim to see if you can amend this.

 

Small claims courts are in County Courts.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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  • 2 weeks later...

Hello All,

Just a quick update, MCOL is well underway now - total claim amount is £4321.08 (This includes 8% interest, O/D interest, MCOL fee) - Lovely Jubely!

It was issued on the 19/07, had the confirmation from the courts, HSBC must have heard something by now - but as yet no response.

Can anyone tell me how long HSBC like to leave it (is there a common strategy?) before they take action over the claim (i.e. refund my bloody money)?

As a side note, HSBC seem to be taking notice of me now.. So far this month I have had 2 x £30 charges refunded by making a telephone call - each time they say 'they will do this once'?!? Before I started all this action they basically told me to p-off if I asked for a refund.

Your thoughts as always are appreciated!

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Well, received an offer for the full amount today (£4321) - not bad as I started off with a claim for about £2800! God bless interest! (never thought I'd say that!).

 

I will of course be crossing out the confidentiality statement, do I need to attach a quick letter to clarify myself?

 

Also, I have been billed £75 this month in more charges is it worth attaching a letter to let them know something along the lines that, they should also pay this back while they are at it, to save them more management time and irrecoverable legal costs etc.?

 

Thanks

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Also, I have been billed £75 this month in more charges is it worth attaching a letter to let them know something along the lines that, they should also pay this back while they are at it, to save them more management time and irrecoverable legal costs etc.?

 

 

Yes.

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