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wrangler1
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Hi,

I have spent a couple of weeks reading through the site and feel a bit overwhelmed. I have got as far as getting the bank statments and going through them and reckon there is about £5000 in total across two accounts. I now don't feel confident about doing this myself and have contacted a couple of the companies that advertise to claim back charges (don't shout at me !!) . One of them has said that they don't go via the court rout but that they go to the Financial Ombudsman. Has anyone heard of this, I can't find anything on the site about it?

Also has anyone had any experience of using these companies? ) I know that this site is about doing it yourself, but I just don't feel capable at the moment !

 

Any help or comments will be appreciated !

 

wrangler1

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Also has anyone had any experience of using these companies?
Yes and quite apart from the fact they charge between 15% annd 40%, generally peoples experience is not good.

 

Since the announcement of the OFT test case, the FOS is no longer dealing with any claims. See here:

 

OFT Test Case: Advice on What to do

OFT Test claim: What this means for you

OFT v The Banks: Read This if You're Worried

OFT v Banks - **Don't panic!!!**

 

If you start a thread in your bank's forum you will get all the help youi need

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Hi wrangler1. Trust me, nobody will shout at you. Here are some links that i hope will assure you that you can do it.

Oh yes you can..

We all started somewhere, and with the fantastic help that you get from other members, its comforting to know that everybody is on your side.

Every journey starts with a single step.

I know if i was offered £5k or having help at 40%, i think i would at least try. Remember, if it gets to much, you can allways use them later..

One step at a time. Good luck..

P.S. Which bank are you claiming from?

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-example-step-step-instructions.html

 

th_animatedobject07.gifth_thNarutoavieHoopSasuke.gifth_YouCanDoItBook.gif

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

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Hi,

thank you so much for your replies....and faith in me !!!

I have gone through my charges and identified them, although I am not sure what some of the items are, what I mean is some things look like charges but might not be if you know what I mean - so I'll have to go back through and double check.

Also I read somewhere that if you do the claim wrong it will be thrown out, and so I'm worried about getting it wrong.

I have read about the test case and think I may as well go ahead now and then whenever the the test case is resolved at least I'll be nearer to claiming then. Also if I delay I'll lose out on what I can claim as my account with HSBC is closed.

 

I am claiming from HSBC. The part that is freaking me out is how to add interest? Although I think that I don't have to do this until they refuse to pay and I have to take them to court. Also there are charges for interest on my statements, sometimes two a month. How do I work out what percentage of these is unlawful so that I can include it in my claim? :confused:

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Heres a list of charges that you can claim.

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/15518-charges-description-statements-please.html

 

Practice on the spreadsheet here and it will work out the interest for you.

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

 

And thank you for having faith in us.

Somebody is here 24/7 :D

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

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When you feel ready, start a new thread in HSBC and introduce yourself.

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/

 

And ask away...

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

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Charges Description on HSBC Statements

 

For those that have looked at their statements and may be wondering, what can i claim for?, and why are the descriptions confusing?, what about the overdraft interest is that claimable aswell?

You can claim for anything which is deemed a penalty charge, which includes:

Returned direct debits,

Card mis-use,

Unpaid standing order,

Unpaid item,

Exceeding your overdraft,

Overdraft interest (see below),

Total charges (see below)

 

You can not claim for:

ATM (cash machine) usage (typically £1)

An agreed overdraft fee,

Anything which is deemed a "service" by the bank

 

Overdraft interest

This is the single most confusing part of most peoples claim, and one of the most frequently asked questions

Overdraft interest is applied to your whole overdraft, however if some of your overdraft is made up from (unlawfull) charges, then a proportion of the interest has been wrongly applied and is therefore reclaimable

Example

You have a £400 overdraft. You purchase something that day for £200 so now you are -£200 on your current account balance, but on the same day £200 of charges are placed on your account, which means that your current account balance is now -£400 and the bank will charge interest on the whole £400.

But since these charges are unlawful, then the interest should not be placed on the whole amount, only on the amount that you have actually spent.

Therefore in this example you can claim back 50% of the interest, however these calculations have to be done daily to truly reflect the amount which can be reclaimed,

The Advanced Spreadsheet will attempt to work this out , but unless your claim is large, this often doesn't amount to much and many people for simplicity's ske don't bother claiming OD interest

 

There is an easy to use spraedsheet for the s 69 8% interest here:

Spreadsheet: Online & Simple to Use

iCalculate

 

Total charges (HSBC)

Again this is another issue which many people aren't sure about,

Total charges are reclaimable, they are a seperate issue to the other afore mentioned charges (card mis-use, returned d-d's etc), and are not simply all of these charges added together each month. so they are also claimable on top of the other charges

"Total Charges" refers to the charge they put on your account for going over your overdraft limit, this charge is calculated daily, and they can charge up to a maximum of £125 in one month for this, it is then debited from your account on a set date every month

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ok...things are looking a bit clearer !! I will take a deep breath , stop panicking and have a go myself ! I did add the charges up wrongly. But your replies are really helpful and now I think I get it and will go back through the statements and work it out again.

Thanks and see you on the hsbc thread soon !

:D

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I'll meet you on the HSBC site wrangler - I might need help with spread sheets from you as they scare the daylights out of me!

 

Do read the Pink Dutchess - v - HSBC thread (when you've got 24 hours or so to spare) it's an absolute hoot.

 

Good luck with the world's friendliest bank.

 

Vandermerwe

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Thread moved to HSBC forum.

 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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Hiya Vandermerwe,

just wanted to say hello back to you as you were so kind as to offer to meet me here! I had a look at a spread sheet.....that was scary !! Found myself a cute avatar too! Anyway I have been reading threads for hours and now my eyes are hurting so I am off to bed.

see you back here again soon

:)

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