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robbond55

Offered settlement

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Hi all. Guess what, I sent my letter dated 24th rejecting their settlement as I have issued a claim including interests and costs and have received a letter dated 26th May (quick response...) stating that their offer is now withdrawn and sorry I have declined their offer. They also say that "the contention with regards to charges applies only to overdraft and unpaid items charges and does not cover debit interest".

 

The rest of the letter is standard template rhubarb rhubarb (copyright the great Eric Sykes) stating thet the bank does not agree with my contention that the charges that have been imposed are punitive e.t.c.

 

Lets see what happens once the claim is received by themselves!

 

Fingers crossed a little longer...

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Well, moneyclaim filed 25th May - I am waiting,waiting,waiting!

Holding breath so much I feel like I am going to explode a-la Mr Creosote and a 'waffer thin mint!'

 

Hope you catch my drift!!!

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i didnt actually charge any intrest, i just added up the total charges, have i balled that up for myself now?

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Good morning all!

Celebratory mood - DG solicitors have offered me full settlement -£1551.69 including costs and interest - if I sign confidentiality clause. I have phoned the nember and left a voice mail saying call me - I feel that this clause is unreasonable due to the hardship you have caused me.

This is why and will enclose it in a letter to themselves:

I will not accept the confidentiality clause as a lot of charges have been applied to myself under duress because of the hardship that I have endured because of your banks treatment of myself. I would like this acknowledged on record that since being diagnosed with Multiple Sclerosis in March 2004, apart from one member of staff at the Oadby branch, my situation that I was in was treated with complete apathy by the other branch members.

 

As with my condition, I had to change jobs to one less manual. I was also out of work for around two- to-three months, unable to claim any benefits apart from the lower rate of Incapacity Benefits. My financial situation worsened and worsened as I had a personal loan with you with PPI. Due to the lack of urgency exhibited by your local branch staff I had to get further into debt to repay at least one month of it as I was chasing the Oadby branch constantly to get the paperwork sorted so I could send it off to the insurance underwriters.

 

I had taken a job more sedentary than the one that I was used to, working in the Inland Revenue as the hours and conditions were more suited to someone with my particular illness. As you are probable aware it is classed as a chronic, progressive condition with no cure currently available. Because of the nature of employment that I had undertaken through the circumstances I have outlined my salary was only about sixty per cent of what I had been earning in sales. I found day to day finances even more of a difficulty, and now I was working, I had to recommence loan payments. I had constantly increased my overdraft to the point of where you said ‘no more’ and when I approached you about financial difficulties that I was experiencing all you could offer is reduced monthly loan payments, however three extra years with an extra six per cent APR, so, through my misfortune of which I had no control over, you would have ended up making even more money out of me over and above what I was already paying.

 

I feel taking advantage of someone’s difficulties to get even more money out of someone is deplorable.

 

Also as bank penalties are contrary to common law I expect no confidentiality clause.

 

Yours,

 

Robert Bond

 

 

What do you think?

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Congratulations!!

 

Your letter is very moving, but do you really expect HSBC or their solicitors to take much notice?

 

There are a couple of options I would suggest - simply cross out the confidentiality clause and return the form, or just send a short note saying thanks for the offer, and how much extra are you offering in return for my confidentiality?

 

You'll still get your full settlement.


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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Yes, I have been using a co-op account for a while now anyway - the HSBC account is dormant andI have just opened a Natwest Account anyway.

However, regarding signing it and crossing out the confidentiality clause bit, am I then legally covered to talk about this case? I intend to issue a covering letter as well but I do not want this to come back and bite my bum!

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regarding signing it and crossing out the confidentiality clause bit, am I then legally covered to talk about this case?

 

Yes, as you have not agreed to the confidentiality clause you can tell who you like.

 

Also, I've merged the three threads you had running about this - please stick to one thread. Thanks.


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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By the way, thanks for the comments on the letter.

However, whether that take notice or not is not my concern - I have the satisfaction of telling them how I feel knowing that, contrary to what the solicitors letter says - I have won!

And boy... it feels good!

 

"you smell that boy?"

"Thats the smell of victory!"

"I love the smell of banks pooping themselves in the morning!!!"

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Point taken on the threads -

Sorry!

Carried away with my victorious exuberance!!!

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They also say that "the contention with regards to charges applies only to overdraft and unpaid items charges and does not cover debit interest".

 

What do they mean by this exactly? You can't claim back the interest on the charges??

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When you file a claim with the county court then the law says you can actually claim for interest on charges at at a rate of 8% per year.

So my claim was £1109 sice 2000, interest on an ANNUAL basis adds another £332 then add £120 court costs.

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What do they mean by this exactly? You can't claim back the interest on the charges??

 

What I think they're saying is that they're excluding the interest charged when you've been overdrawn. However I might be wrong..


If my reply or advice was helpful, please click the scales!

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DISCLAIMER: My opinions are strictly personal, and should not be taken as a substitute for individual professional legal advice on your own particular situation.

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What do they mean by this exactly? You can't claim back the interest on the charges??

 

They've not read the rejection letter correctly. Robbond had already filed with mcol for the charges because the deadline he'd set had expired. In doing so he is entitled to claim 8% annual interest on the amount he is claiming, from the date each charge was applied.

 

When they read the rejection letter the bank obviously thought he was claiming for debit interest that he's been charged and were basically responding saying that he's only able to claim for the charges. So, read it again - does anyone else think they're basically admitting, albeit not exactly directly, that he CAN indeed claim these charges back? It's kind of an admission!

 

OC.

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But you can claim 14.8% interest for each charge.

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But you can claim 14.8% interest for each charge.

 

no you cant, its 8%


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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But you can claim 14.8% interest for each charge.

 

No, you can't. You can claim the ACTUAL interest that they've charged on the charges if you were overdrawn when the charges were applied (or if the charges took you overdrawn or contributed to taking you overdrawn). However, this is difficult to work out and usually doesn't amount to much anyway.

 

After raising a claim you can charge a maximum of 8% on each charge since the date the charge was applied.

 

OC

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8% is provided for by Section 69 of the County Courts Act. To claim anymore at this stage would be frowned upon.

 

I think the confusion has arisen because a few people are going to claim the bank's statutory rate (roughly 14%) in their claim. However, if this is being claimed, then you are not entitled to the s.69 interest - it is one or the other.

 

However, 8% is a protected figure, the statutory rate is still unproven...

 

Good luck.


Alecto, Magaera et Tisiphone: Nemesis on Earth is come.

 

All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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This topic was closed on 09 March 2019.

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