HFC BANK - advice needed.

[mebuck]

Hi.

 

I've just sent my Preliminary Request to retrieve penalties charged to my current account, and now I'm trying to see what else I can claim back.

 

I bought a laptop on hire-purchase (when I was stupid) about 4/5 years ago. Its since been paid off.

 

The final settlement figure was huge; as apparently they added a pile of interest on top of the figure for late payments over the years!

 

During the entire 4 years of the agreement, they never once sent me a statement. Recon I should request them? Am I within my rights to claim back any penalties or interest charged during a hire purchase agreement?

 

I definately know they used to charge me "administration fees" quite a bit.

 

I bought the laptop from Dixons, and HFC Bank provided the loan.

 

Regards,

[mebuck]

Sorry, noticed there is a subgroup for this.

 

Have reposted there!

[mebuck]

Hi.

 

I've just sent my Preliminary Request to retrieve penalties charged to my current account, and now I'm trying to see what else I can claim back.

 

I bought a laptop on hire-purchase (when I was stupid) about 4/5 years ago. Its since been paid off.

 

The final settlement figure was huge; as apparently they added a pile of interest on top of the figure for late payments over the years!

 

During the entire 4 years of the agreement, they never once sent me a statement. Recon I should request them? Am I within my rights to claim back any penalties or interest charged during a hire purchase agreement?

 

I definately know they used to charge me "administration fees" quite a bit.

 

I bought the laptop from Dixons, and HFC Bank provided the loan.

 

Regards,

[MARTIN3030]

Ok in the consumer section log onto the store concerned and start a thread there.

Run your claim after reading the faqs

 

FROM WHAT YOU SAY LOOKS LIKE YOU HAVE A CLAIM

[mebuck]

Hello,

Had great success is taking the Halifax to court last year, so I dug up some old accounts and tried the same with my other old banks.

The HFC Bank and I had a hire purchase agreement (through Dixons) for a laptop. I've since paid this off, but during the period they frequently charged me "admin fees" and additional interest for late payments.

I've totalled all this up and sent them a Request for Repayment.

They've said:

"HFC Bank have carefully considered the OFT's publication but does not accept the principle that its findings apply to your type of account" - they are saying its credit cards only.

and

"I regret we are not prepared to make any refund of the default charges payable or provide any compensation."

I'm a little concerned as this is the strongest shove off I've seen from the banks. Are they just getting in there early? Should I be deterred? Does it matter that this was a hire purchase agreement?

Has anybody else had any experiences? Shall I just plough on with the LBA?

[poochball]

Hello,

 

HFC are easy. I didn't even threaten Court action. Here are the letters I used: -

 

Dear Sir or Madam,

 

I write with regards to the above account number.

 

I recently received a breakdown of my loan account and was shocked to discover the following: -

 

6 x £15 Admin Fee and 1 x £50 Default Fee. Total £140 + interest.

 

I respectfully request a refund of these penalties as they are disproportionate and are not a true representation of the actual loss incurred by HFC Bank. Furthermore I don't recall a clause in my original credit agreement whereby a £50 fee would be added to my account should it default.

 

If HFC say that these charges are not disproportionate, then will HFC please demonstrate this by letting me have a full breakdown of the costs which HFC have incurred as a result of my breaches, and in order to reassure me that these penalties really do reflect HFC Bank's costs?

 

I look Forward to hearing from you soon.

 

Yours Faithfully

 

HFC Replied, no sod of. I then wrote:

 

Dear HFC,

 

Thank you for your letter dated 5th April 2007, the contents of which have been duly noted. Please escalate my complaint in accordance with the “Guide to Internal Complaints Procedure” HFC Bank very kindly sent to me.

 

I understand that the charges for Late Payment, being Overlimit and being in Default are clearly set out in the agreements which a customer would sign. I now understand this because of the letter HFC Bank sent to me dated 5th April 2007. With all due respect, I don't believe that because a customer has simply signed an agreement that this would make HFC Bank's charges “fair and reasonable”.

 

One thing that interests me more than most is the leaflet which HFC Bank kindly provided. I note that HFC Bank subscribe to the Banking code and one of the standards of practice is that “all cases of financial difficulty will be dealt with quickly, sympathetically and positively”. This raises a couple of questions which I would like HFC Bank to provide an answer to: -

 

1. How is adding fees onto an account each month a positive and sympathetic approach?

 

2. Why when HFC contacted me about none payment were they not sympathetic?

 

3. If HFC Bank's charges are fair and reasonable, then as I requested in my previous letter, would HFC Bank please give a breakdown of how they arrived at these charges and send this information to me?

 

The fact you haven't already sent me this breakdown as requested in my previous letter leads me to believe that the charges HFC Bank have levied from me are not fair nor do they represent the true cost to HFC Bank.

 

Please refund these charges as requested in my letter dated 31st March 2007.

 

I look forward to hearing from you soon.

 

Yours sincerely

 

I then get a 50% offer. I say no way Pedro:

 

 

Dear HFC,

 

Thank you for your letter dated 20th April 2007, the contents of which have been duly noted. Please escalate my complaint in accordance with the “Guide to Internal Complaints Procedure” HFC Bank very kindly sent to me.

 

I understand that the charges for Late Payment, being Overlimit and being in Default are clearly set out in the agreements which a customer would sign. I now understand this because of the letters HFC Bank sent to me dated 5th April 2007 and 20th April 2007. With all due respect, I don't believe that because a customer has simply signed an agreement that this would make HFC Bank's charges “fair and reasonable”.

 

In my letter dated 12th April 2007, I raised the questions below. Unfortunately the letter I have received did not address these points and I would appreciate a response.

 

1. How is adding fees onto an account each month a positive and sympathetic approach (one of the Banking Code Guidelines)?

 

2. Why when HFC contacted me about none payment were they not sympathetic?

 

3. If HFC Bank's charges are fair and reasonable, then as I requested in my previous letter, would HFC Bank please give a breakdown of how they arrived at these charges and send this information to me?

 

4. Why was I not made of aware of the Payment Protection insurance?

 

The fact you haven't already sent me this breakdown as requested in my previous letters leads me to believe that the charges HFC Bank have levied from me are not fair nor do they represent the true cost to HFC Bank. I understand the explanations HFC have provided in terms of the fees charged to my account but don't believe the actual loss sustained by HFC Bank can be substantiated by the level of the charges imposed upon myself.

 

Please refund these charges as requested in my letters dated 31st March 2007 and 12th April 2007.

 

If HFC bank are not in a position to refund these charges then can I be granted referral rights so that I may take my case to the Financial Ombudsman? I am hoping this won't be necessary to save both HFC Bank and myself time in resolving this matter.

 

I do hope the above is not necessary and that we can reach a satisfactory conclusion.

 

I look forward to hearing from you soon.

 

Yours sincerely

 

HFC replied with a full offer.

[moneydragon]

Hi mebuck

 

If you need any encourgement please see my threads just below. Exactly same position only that they have just sent me settlement.

 

So stick with it:D

MONEYDRAGON