HSBC force new loan to pay charges....

[iconoclash]

Hi - sent back the acceptance early June - they responded with a 'yes' on 17 June - since then nothing. So as you see they dont like me not signing their agreement that everything is cosha (?)

Re the bills, this is British Gas £851, Council Tax £1486 together being what the bank owes me (dont know if this includes 8% interest? charges were from 2006) but is part of the managed loan that we cancelled. The managed loan is made up of a personal loan, authorised overdraft facility and Penalty Charges. The bank say they did not get our letter cancelling and were adding over a £100 a month to this new deal. We found out that it was a bad deal and they did not follow the rules etc so are confident that we can get it overturned but in the meantime theyve written and said that they have now removed the interest element and the £6k+ charge for credit on it and sent the total loan amount out for collection, this being over £13k but as our account balance includes all the penalty charges I still believe this must mean that we would be paying them back the charges they say they are paying us???? Warrants are: Liability Order from local council already obtained 29th June - BGas now have papers in court to get warrant to force prepay meter - nothing received here yet.

[yourbank]

Liability Order on Council tax - have you contacted them and made arrangements to pay/sent your IE form back ?

 

BGAS - prepayment meters arent that bad just keep an eye how much they want to take off you weekly towards the debt.

 

Keep sorting these out yourself regardless of what hsbc have said/not said - ie pretend bank charge reclaim doesnt exist until you have money in your pocket - you can not rely or afford to rely on it.

 

 

Call HSBC again or write to them recorded to find out whats occuring with the hardship offer - also check they havent paid it to the managed loan account despite what was agreed.

 

The managed loan actually got implemented and repaid the overdraft & loan yes ? have you been making payments to it ?

 

Were the overdraft and loan totalling £13k when you took the managed loan out ? ( ie they removed interest and charge for credit already which was added on top the £13k?)

 

if so and that figure included the charges, you will still be liable for that amount less the charges plus interest you are claiming on them, so need to come to an arrangement on that.

 

Also as you have asked for the refund on hardship grounds not to be paid to the managed loan (which is where they come from and havent yet been paid) you will be liable for that portion of the managed loan on top.

Sound right?

 

so basically -

 

how much did you owe on loan and overdraft (ignoring what was/wasnt charges) when you took out managed loan ?

 

how much are the charges you are claiming ?

 

how much interest are you claiming on the charges ?

 

and how much have they offered you under hardship ?

Edited July 3, 2009 by yourbank

[yourbank]

Ok I think what I said above was correct based on this

 

Originally Posted by campari2

Take one bank account

Add charges for unpaid ddm/letter/phone call et al

Add further charge for charges taking account in overdraft

Deny refund of charges claim bycustomer

Take overdraft balance and loan and consolidate

Put new loan up to 12.7% then add over £6000 total charge for credit

Extend term of revised loan to 8 years, total now owed by customer £20,000

Add further charges and interest monthly on new balance

Ignore financial hardship status.............

 

 

So going on what you said Interest and £6k has been removed from balance leaving the original amount from loan and OD (13k) which included charges of approx £2k (from http://www.consumeractiongroup.co.uk/forum/show-post/post-1815499.html so add interest so lets say £3k for now?) so you need to come to an arrangement on the remaining 10k and keep the reclaim in place/keep trying under hardship for the 3k charges&interest.

 

 

[iconoclash]

Hi - following the fiasco with this bank about the loan and charges and financial hardship claim we are now off to Court. DG have filed against us and we are defending of course. This will be a follow up from the ITN interview in March. I am preparing the defence and realise that I do not have any figures in detail of how this 'loan' was renegotiated and previous balances settled but as I am broke will I have to pay for a SAR again or should they disclose as part of the court procedure anyway? thanks:)

[freakyleaky]

2 threads merged.

 

I would have thought they should disclose as part of the court procedure. Surely they have to supply this information in their claim?

[johnnymitch]

I agree with freaky , campari2 - how can you defend properly if you don't have the details of their claim.... surely they should provide you with a copy of their bundle ...... as you would have to do if you were claiming against them .......

 

Thinking aloud here -I think they are supposed to lodge 2 copies of the bundle with the court - one of which should be for you - maybe you should ask the court if they've got it .....

[iconoclash]

Hi - thanks. Ive had the papers in the post and note they submitted the claim online so Ive logged in and acknowledged only at this stage. There is nothing more on there about the details of the claim just the amount total plus fees - I'm looking for the full claim details and the copy of the agreement that they are claiming against and under which law, as they do not refer to the Consumer Credit Act. Shall I assume that these details will arrive in the post later??

[johnnymitch]

Hi campari 2 -

 

If you have a look at the instuctions for the Basic Court Bundle - you'll see what I was getting at above ..... I know it's from the other point of view , but in this case you are the defendant ... so should get all the relevant papers they intend to rely on at lesast 14 days before the hearing .....

 

http://www.consumerforums.com/resources/templates-library/48-bank-templates/119-basic-court-bundle

[Castlebest]

will I have to pay for a SAR again

 

If you have sent an SAR they should have provided you with everything they have with your name on it for all accounts if they have not then this will be the basis of your defense.

 

They have failed to comply with your SAR fully therefore you cannot enter a full defense until they comply and you should state this in your defense document.

 

The judge should then issue directions to the bank to provide all of the information to you and give you both time limits, the bank to comply and you to submit a full defense.

 

pete

[iconoclash]

Hi - that sort of answers my question before posing it as I was concerned as to how I can prepare the full defence in the time frame of 28 days in total without any other info from them but if their deadline is 14 days then it leave me 14 days - is that right? ta

[zooman]

The time frames are all set from the deemed served date and are;

• 14 days to acknowledge the writ and confirm your response
  
• 28 days to submit your defense (so 14 days above plus 14 days)
  

you have already acknowledged the writ and you intention to defend so you now have to work on your defense. Make it complete as possible in as far as you can (adapt the particulars of claim from the library) but make sure you highlight the lack of information from the bank and their failure to comply with your SAR is hampering a full defense.

[iconoclash]

Hi - oooh - havent watched that clip since it first to went to air and it still irritates me - all that crap about changed circumstances, they had known from the outset that i had no work - anyway - since then HSBC closed our accounts for being dormant! HSBC then tried to claim all the penalty charges back again from us with some dodgy document and had a solicitor acting for them - they wanted to go into court and I said fine, let me know when so I can advise the news producer of the dates - since then, (last year), have heard nothing but they put a claim in online to court - it is still sitting there with our intention to defend in full.......

[iconoclash]

Hi -

 

I am stuck trying to work out my former PPI redress.

 

I have recently received my old paperwork (from a SAR) and

 

I note calculations provided for PPI against a bank loan.

 

This was a single lump sum added to the loan.

 

However, the bank appear to have calculated premiums etc, rebates and early settlement sums

and come up with a figure that is exactly the same as the lump sum added at the start.

 

I am wondering how that can be correct if I paid interest on the PPI with the loan and both ran their full term.

 

The bank had previously debated at length as to whether they would even accept the claim

but did eventually make redress in 2008,

 

now I am re-visiting this matter and checking all accounts and other loans with the bank but

 

in the meantime, am I right in thinking there is something wrong with the redress calcs?

 

 

thanks

[dx100uk]

probably

 

 

in 2008, the following was not available

 

 

link 1

 

 

now it is

 

 

and

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?339318-Are-the-banks-obliged-to-re-open-previously-rejected-claims-for-mis-selling&p=3792184#post3792184

[iconoclash]

hi and many thanks for that

- I have read that thread and it has also now alerted me to the fact that the bank really did a number on me.

 

refused to do anything about the extra charges added to my account whilst disputing the ppi refund

made me take the refund in the form of payments to other creditors

only paid the lump sum ppi without interest,

 

although they have sent me a fancy sheet of calculations about

early repayment penalties,

total premiums paid separately to loan(?)

loss plus 8%.

 

The loan started in 2002 and there is another document stating that protection expired in 02/07,

the redress calculations state that 26 premiums are refunded.

This is too confusing as even the cost of the insurance doesn't match.

 

Maybe it is another ppi I am not aware of

I had 4 or 5 loans over several years.?

 

I will try to figure it out and come back.

 

It seems I can show a high level of unfair treatment.

[dx100uk]

who?

 

 

if these were a chain their calcs need to be a chain too.

 

 

dx

[iconoclash]

hello again

- thanks for reading this.

 

 

This is HSBC, who have said in their letter from Sheffield office that

"this office acts as a co-ordinator to collate any personal data held...

....we are unable to answer any questions relating to the operation on your accounts,

please refer to your local branch"

 

I am thinking I need to make a list of the accounts, loans and PPI's,

which is of course what I wanted to see in this SAR data,

it is not at all clear from their reams and reams of printouts.

 

 

It appears that the calculations for the PPI redress relate to one loan only

and as I do not have the CCA's for the loans,

nor loan statements I am struggling.

 

 

HSBC are saying they are not required to keep these docs for that long.

Should I write to the branch?

Edited February 1, 2015 by iconoclash
typo

[dx100uk]

did then next loan pay-off the previous?

 

 

dx

[iconoclash]

I don't recall the details sufficiently

- think I had a small loan that I paid off then later on another,

and had a larger one later that was repaid early when I re-mortgaged etc.,

 

 

I had a joint loan on my joint account too, I do remember that,

 

 

so I'm gonna write to the branch and try for the rest of the details and have another look in my attic.

 

 

Looks like it's gonna be a long haul