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please read scanned letter from dg


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Hi folks please could one of the many experts look at the scanned letter that I recieved today. Are they able to do this. As far as i was aware i am paying off a managed loan that hsbc set up to clear an o/d and an old loan that i had lapsed on. I was not aware that my outstanding debt with them was all charges. My statements show that when a charge was applied to my account I usually paid it on my next pay day. here is the letter... whats in red worries me.








DX 712630 Birmingham32

Telephone: 0121 455 2701

Facsimile: 0121 455 2771



Please ask Rachel Tomlinson


Your Ref:

Our Ref: DMD/PT/7ML00293

Date: 13 June 2007






Dear Sir



Yourself—v- HSBC Bank plc

Mold County Court Claim Number:



We are instructed by HSBC Bank plc in

respect of the claim you have recently issued in relation to charges levied on your account in the period from 21 March 2001 to 1 March 2004.



HSBC is entirely confident that its charges are reasonable, are properly and fully disclosed in its terms and conditions and published price list and you must have been aware that you would incur such charges depending upon how you managed your financial affairs. HSBC is confident that it was entitled to apply these charges and that it would successfully resist your claim in the Courts.



Your schedule has been checked against the charges actually passed to your account which has revealed some discrepancies. However, HSBC is mindful of the management time and irrecoverable legal costs associated with litigation in the small claims regime. For those commercial reasons alone, and without any admission of liability whatsoever, HSBC is prepared to make an ex gratia payment to you in the sum of1729.70. That payment is made in full and final settlement of your claims arising from the charges applied to your account in the period referred to above. It includes interest to the date of this letter, the Court fees you have paid and, where appropriate, any charges previously refunded to your account that you have failed to take into consideration in your schedule.



By accepting this payment you agree not to make any other claims relating to charges for the period stipulated above. HSBC also, reasonably, requires your confirmation that you will treat this payment as confidential.



In view of your ongoing indebtedness to our client, which has been referred to a debt collector, any adjustment made under the terms of this letter will be paid to the debt collector in reduction of your debt and in exercise of our client’s legal right of set ofI except in respect of any Court fee you have paid which will be refunded to you by cheque. (what does this mean) ????



If you accept this proposal please sign and return the enclosed copy of this letter to us and we will arrange for a refund to be made to you.

If you do not accept our client’s offer, and your Claim proceeds to a hearing and the Court decides our client’s charges are illegal, which is denied, it is our confident belief that the amount offered by our client is the maximum you can reasonably expect to recover. Therefore, before incurring further legal costs, we strongly suggest you obtain legal advice from a qualified practitioner. If you do not, and our client is obliged to incur the cost of attending at Court, we reserve the right to adduce this letter in evidence that the errors in your claim have been brought to your attention and it is unreasonable that the matter be brought to a hearing. If the Court accepts our representations, it is possible you may be ordered to pay our client’s costs. In this respect, we reserve the right to adduce this letter, together with any enclosed schedule of calculations, if and when the question of costs is considered.

You will be aware that your Claim has been listed by the Court for hearing on 27 June 2007. If you wish to avoid the inconvenience and cost of attending the hearing, please return your acceptance within 7 days and we will arrange for the hearing to be cancelled.




Yours faithfully







I accept the sum of £1729.70 in full and final settlement of my claim against HSBC for the charges applied to my account in the period from 21 March 2001 to 21 March 2004. I agree not to make any other claims relating to charges for the period stipulated above. I also agree to keep the fact of my claim and HSBC’s ex gratia payment strictly confidential.

If this matter has been listed for a County Court hearing, I authorise DG Solicitors to inform the Court that this matter has been settled and the hearing may be vacated.

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would this be the full amount of what you are asking for? i agree that that is what they are saying. i'm not sure if you can challenge them on this - but if you are paying monthly - i'd write back to them and say - so, that means i won't have to pay anything for the next 17 months - (say for example you are paying 100 per month and they are sending you 1700 - that would be 17 months worth of payments) as you will be putting that amount on my loan repayment, is this correct?

and then i'd say - i suggest that you pay me by cheque and let me decide how much will go on my loan repayment and then i can accept your offer of settlement.

it's a bit ballsy - but why not - they want to refund you money but put it all on their loan - you may decide to do that - but they are taking the decision out of your hands - if you are not in arrears with the loan, i would ask for a cheque before you agree - if you are in arrears with your loan then you may have to accept their terms.

you might want a moderator to look at this - you can pm on to take a look at this to see if it is the correct approach.

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Perfectly correct Lattie, if you are not in arrears on your loans they cannot just decide you are going to pay off part of it with your charges... this is your money the loans are totaly seperate agreements, however if you are defaulting on the loans you do owe them money outside of the loan agreements and they would be allowed to set this off against your unlawful charges cash.



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