Just wish to clarify before committing myself

[Spiceskull]

Hi,

 

At last I have calculated my charges from my statements, and just wanted to clarify (more for my own peace of mind) the following before commencing:

 

My statements total as follows:

 

Charges(only) - £2875 Interest (8%APR) - £611.78

or

Charges(inc. Interest Charges) - £3234.87 Interest (8%APR) - £686.17

 

On the Preliminary Request letter (what I require) I wanted to clarify what bit goes where:

 

Is 'Charges' and 'Interest' relevant to my first set of calculations, or would I need to submit using the second set of calculations (ie. Charges = charges + interest charges) and the Interest (8%) being what I have lost to the bank in the intervening years?

 

I also want to say thanks to all those who help here, because usually I am a timid person, who would not complain at cold soup in a restaurant...!

 

Thanks in advance,

Spice.

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[BankFodder]

You don't calculate the 8% interest until you actually make yuor court claim.

Aren't you reading the forum material.

Thi has been dealt with many many times.

[Spiceskull]

Sorry for appearing dense,

 

Yes - I do read the material but there is so much of it it gets a little overwhelming and confusing at times. I just wanted to clarify what the 'Interest' element of the preliminary letter is:

 

Clearly, and by a process of elimination, it is the Interest Charges part of my calculation, and logically my second set of calculations apply. If I have this wrong, please let me know.

 

Thanks again,

Spice.

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[JamPal]

To be honest i was a little unsure about this.

 

I am guessing it is the interest they charged on the fees that they illegally charged you..

 

 

Ie. You are £50 over you limit.

 

They charge you £100.00 in fees.

 

Then they charge you an extra £8.00 in interest on the £100.00 charges they added to your overdraft.

 

But really that is a best guess. I have read all of it a few times but it is not clear.

 

It could be the interest you would have earned on the money had you not given it to them. But that seems rather academic as you would have to have been overdrawn to have atracted the charges in the first place. Oh and where the heck can you get 8% on a saving account?

 

BTW, I admire your bravery in asking a question here.

[Spiceskull]

Bravery doesn't come into it - if it's a stupid question expect a harsh response. If it is merely an issue of confusion, then whilst the support may be brash at times, at least it is helpful and steels me to action.

 

Besides, being brave, and asking questions here will result in me getting about £3K from the bank in the next few weeks...

 

Whilst I am geared for claiming a refund of ALL the charges, I am more than willing to listen to the bank if they want to recalculate the interest part of my claim. After all, if they don't give me a breakdown of what the interest is comprised of, then I cannot hope to make an accurate calculation...

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[BankFodder]

BTW, I admire your bravery in asking a question here.

Sorry you think that it is as bad as that.

When we tell people to read the FAQs in a rather abrupt way it is done mainly becaus we know that the answer will be read not nly by the user in question but also by hundreds of others who might then be spurred to do a bit of their own research rather than expecting it to be spoon fed to them.

 

We have even had some people who have said that thought that they would ask the question to save them time or bother of having to read through the material! Unfortunately, what saves them time, makes work and effort for the others who have to help them. At the end of the day it is their money they are getting back and when they get it back we almost never hear about a donation to our expenses.

That's OK because the help is here for free but we do expect people to make some effort. If the answers are a bit abrupt then c'est pour encourager les autres!

Also, we are frankly bloody busy plus we have lives, famillies, children etc to run as well as trying to help nearly 9000 people recover their unlawful charges who would never have thought about it if we hadn't set up this site.

[Spiceskull]

We have even had some people who have said that thought that they would ask the question to save them time or bother of having to read through the material!

Hey BF - I'm not having a go at anyone here. The poster simply felt as I did a fortnight ago - that you guys take a little getting used to. The quote highlights the pressure on you guys, and you are right, more time spent answering FAQs = less time spent helping people.

 

When I put my first post in (and was given a 'hijacking' warning in red) I felt like running away. However, I read the advice, read the FAQs and I'm still here and proceding with a claim.

 

If I see a post asking an FAQ style question, I will point the poster to the FAQs before you do...that means that:

 

a) I feel like I am helping

b) It takes the pressure off you guys

c) The poster doesn't get frightened off...

 

As for contributions - I have already made my intentions clear elsewhere - it's 5% no matter what I get...

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[gothicf0rm]

ok, im the guy who came up with this claiming interest on the charges and so on so i will try to explain.

 

you can claim the following with regards to your bank having charged you interest -

 

1) the difference between the authorised and unauthorised rate on your entire overdraft if a charge as put you into an unauthorised overdraft or the difference between paying no interest if you would be in credit and paying the authorised rate on the entire overdraft if you were pushed into the red by the charges.

 

2) all interest the bank charges you on their charges.

 

3) if your charges are greater than your overdraft you can claim ALL the interest the bank has charged you from the chronological point where your overdraft would have ceased to exist because youve paid so much in charges. i claimed all interest charged from january 2004 onwards.

 

4) it may be possible to argue that if reached the point where your account would actually be in credit the bank also owes you interest on the amount that you would have been in credit by for that chronological period. im not a lawyer though and i don't know if anyone has claimed using this argument, i haven't.

 

5) if you go to court you can definitely claim 8% apr under the county courts act on items 1, 2 and 3.

 

perhaps bankfodder could give his opinion on point 4, can we whack them not only for them charging us interest but also not paying us interest? if so we could inflate everyone's claims even further this way.

[Spiceskull]

Hijack...Hijack...Hijack

 

(bloody emoticons - why the f**k don't they work?)

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[Spiceskull]

(bloody emoticons - why the f**k don't they work?)

Just found that it would help if I turned the buggers on... :?

 

To see the steps I took to recover unfair bank charges with the help of Consumer Action Group, please read my thread Spiceskull v HSBC.

[Spiceskull]

This topic was closed on 03/06/19.

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