Summer vs First Direct

[Summer]

Hi,

 

I just wanted to say thank you to everyone who has posted in these forums as it's inspired me to commence claiming back MY money from First Direct. I used a sample letter requesting statements from the last 6 years and sent it recorded delivery on Thursday. Today there was a message on my online banking saying that I should receive them soon. I will keep you all posted on the progression of this claim and when successful will obviously make a donation!

[HSBCrusher]

Excellent! Wekcome to BAG, and all the best with your claim.

Keep us posted as it progresses!

[Summer]

What a shock!!!! I've just looked at my statements on line and between March 2004 and March 2006 the overdraft fees and excess overdraft fees total £1894.00 - no wonder I was in such financial difficulty just trying to pay their fees. It truly was a snowball effect whereby one month would send me over my limit and then their excess overdraft fees (sometimes £124 per month) would just throw me deeper in the red. I hope the overall charges are under £5k to make it easier to claim although I have a feeling they won't be.

[HSBCrusher]

Frightening isn't it?

It is best to keep it all under the 5k, but this limit doesnt include any interest you would include if it went to court.

[overcharged_consumer]

Frightening isn't it?

It is best to keep it all under the 5k, but this limit doesnt include any interest you would include if it went to court.

 

There is conflicting advice on this but I really think it does. If you have a claim for £4,900 and the 8% interest takes it to, say, £5,100 then the total claim is £5,100 and the fee is calculated as such. If the fee is calculated based upon a £5,100 claim then that is what the claim is for and as it's over £5,000 it will go fast track rather than small claims track.

 

Just my tuppence worth but I'm fairly certain the interest forms part of the claim.

 

OC

[HSBCrusher]

It would be good to get a definitive answer on this, like you say opinion is split.

[overcharged_consumer]

It would be good to get a definitive answer on this, like you say opinion is split.

 

I know - I can't find one though. I know Bankfodder has advised that the total claim is based upon your line of thought and I'd tend to be swayed by anything BF says given he's read up on a lot of this law stuff. All I'm going from is what I see as logical from my own claim - the TOTAL amount claimed is the charges PLUS the interest at 8% and it is this figure which is entered in the TOTAL CLAIM box. Therefore, it seems only logical that it is this TOTAL CLAIM amount that determines the track on which the claim will be dealt with.

 

Like I say, I'm only going on logic here and nothing about life is all that logical but I really can't see any other way in which it would work given that there is nowhere on the forms that provides for entering CLAIM BEFORE INTEREST.

 

OC

[HSBCrusher]

I posted a quick question in the bear garden, bookworm came back with

 

"No. Definitely not. It's 5K exclusive of Stat Interest and court Fees."

 

And who will question the mighty BF? Not me, for I might be struck with lightning!!!!

 

So, there you are Summer, make of that what you will.

All the best with your claim, keep us posted!

 

Edit- I have just found in the FAQ..........

 

Q. Does the £5000 Small Calims limit include interest and costs?

A. No it doesn't. You can claim up to £5000 net of costs and interest. Add the interest and costs afterwards and even if that takes the claim over £5000 it doesn't affect the track allocation.

[Summer]

Hi everyone, well I received my statements today for the past 6 years and have worked out the charges - £4,385.50 . I am going to be very reasonable and not charge for the interest on these, but will charge 8% if it goes to court. A letter requesting repayment of charges is on it's way along with a breakdown using your letter & spreadsheet template. Keep up the good work as you've made it all so easy to follow the procedures to make the claim. Now I'm looking forward to the weekend and enjoying the sun:)

[HSBCrusher]

The best of luck with your claim!

I agree, what a great site this is, lots of helpful folks (some of which have done a lot of work!) for whom I am grateful too.

Enjoy your weekend, keep us posted.

 

Crusher

[Summer]

FD were very quick in replying as I've received their standard reply from Deborah Malins stating they are unable to agree to my request and I can write to Robert Kernaghan to escalate my concerns.

 

Do I have to wait the 14 days before sending the LBA as FD have replied? Do I send the LBA to Robert Kernaghan or just FD?

 

Thanks again for all your assistance.

[Summer]

I've been browsing through other posts and it looks like it's best to wait the 14 days before sending the Letter Before Action so 3rd July is the date it will be sent. It can't come soon enough! The letter is drafted and ready to go and I look forward to submitting the Moneyclaim (although a bit nervous).

[maverik1979]

no need to be nervous, as always if you're not sure about anything just ask, you'll feel a lot better

[Summer]

Thank you for your support:)

[Summer]

14 days is up and the LBA has been sent recorded delivery along with another copy of a breakdown of the charges so they can't use any excuse for delaying. If this follows the same pattern as other claims then the next step will be filing a claim in the courts in 2 weeks time and I'll get even more money as I can then add the 8% interest! 14 days seems a long time when you're counting down but I know it'll be worth the wait.

 

This must be costing First Direct a fortune in solicitors fees and the interest payments when they let it go to court stage so I'm surprised they don't settle earlier in the cases - not very good for a bank???

 

Has anyone had their account closed?

 

I don't have any loans with FD and have been within my overdraft limit for the past 4 months (slowly improving) so am hoping they won't close it as they're definitely the best bank except for their excessive charges.

[maverik1979]

 

Has anyone had their account closed?

 

 

dont know about first direct, but yes hsbc have closed a couple of bank accounts, however it was as they say for commercial reasons, i.e. people kept claiming the charges back

[kazzaw]

I don't have any loans with FD and have been within my overdraft limit for the past 4 months (slowly improving) so am hoping they won't close it as they're definitely the best bank except for their excessive charges.

 

I'm in the same position & hope they don't close my account as apart from excessive charges (which is the same with all banks) their customer service is the best I've ever experienced in 30 years of using bank accounts.

[Summer]

Received a letter today in response to my LBA from Natalie Cole, Customer Relations, and it reads:

 

Thank you for your letter regarding charges.

 

I am sorry you have had cause to complain, I will ensure you receive a reply shortly, certainly within the next 10 working days.

 

Further information can be found etc........

 

I'm counting down the 14 days since sending the LBA:-)

[Summer]

Still nothing further in the post so I've drafted the details on Moneyclaim and will be ready to send it on Monday ......... not long now (unless of course they decide to go all the way on this one!)

 

I'll update on Monday and your donation shouldn't be too far away.

 

A great big thank you to everyone on these forums as you've been very helpful and encouraging.

 

And to anyone thinking about starting to make a claim .... as they say the first step is the hardest because after that just read the forums to see what others have accomplished and use the templates so you too can get your money returned.

 

Good luck everyone.

[Summer]

14 days is up with no further response so I've entered the details on Moneyclaim and it's now underway. I'll also be notifying First Direct just to make sure they can't say they're not aware of the details.

 

Overdraft fees and excess overdraft fees 4415.50

Interest at 8% pa 1038.70

court fees 250.00

 

let's see how they react on this one ...... could it be the one they take to court?

[Matheos95]

Hi Summer

 

Good luck with your claim - mine is for the about the same amount and LBA went off on Friday so Ill be watching with baited breath - I hope the robbing barstools pay every penny back to you.

 

Matheos95

[Summer]

I received a Notice of Issue today from Northampton County Court confirming that the claim was issued on 18th July, will be deemed to be served on 23rd July, and the defendant has until 6th August to reply.

 

Getting closer .......

[hannah8686]

hiya,

 

im just one day ahead of you so i will be watching your posts.

 

rec'd my letter from northamton on wed saying they are deemed as served on 22nd july.

 

cant wait till pay day!!

[hannah8686]

Just thought id let you know mine was acknowledge today yours should be soon:-)

[marcopolo]

Hi looks like we are about the same, I filed my MCO yesterday for £3550.57, I will be watching your posts. Good luck. Are both of your in Northampton County Court as well? Do you know if FD have closed accounts following action like this?