HSBC long story

[Kezmerrelda2]

Hi

Hope someone may have some ideas on this.

 

 

My husband took out a business loan in around 2003 with HSBC. He had a business account and personal account with them for a few years already.

The business got into difficulty at the end of 2004 and he had charge after charge on his business account and overdraft.

 

All the accounts were shut mid 2005 and refered to debt collection solicitors D and G who deal with HSBC

the total debt including hundreds of charges was about 20k.

 

We had an agreement to pay 400 a month which was tough but we kept it up.

 

We then went through the process to reclaim bank charges and were eventually awarded (after a fight) close to 5k which was taken off the debt.

 

This didn't include personal or loan charges only the business account ones.

 

We requested to reduce monthly payments which we did to 200

but they were not happy despite us proving our financial difficulty.

 

We kept up with them and didnt miss any but they decided to take us to court to put a charge on our house.

 

We were really unhappy about this as the bank manager at the time of the loan was adamant that as this was an unsecured loan

it would never and could never be secured against our property.

 

I was never involved in the business or names but I do jointly own our home.

 

We went to court, argued but the judge just said they could do this and they could have interest.

 

So they added about 6k to the loan overnight!

 

All the charges and more went back on.

 

We had at one point reduced the loan to about 11 or 12k.

 

They still add charges which they cant really explain and despite the fact we still pay monthly years and years on.

 

We now only pay 100 (agreed about a year ago) we somehow now owe them about 21k?

 

My husband contacted them by phone about PPI as he realised that was on the loan too and they wrote offering a meagre 1800.

 

I don't think we should accept it as they will just add it back on as some other charge.

 

We are going to write to them asking for a breakdown of all the charges and a statement showing all the charges.

 

We have repaid thousands and the only original debt was the loan of which over a years worth of payments were made back on before the difficulty.

 

The overdraft was just charge upon charge and there was no money owing on personal account.

 

 

Do we have a case for them pushing us into more and more hardship with all their charges including PPI?

 

 

I just think if we don't do something about this it will go on until we are a hundred!

 

 

Any advice appreciated!

Thanks

Edited September 14, 2012 by citizenB
formatting for easier reading

[honeybee13]

Hello there.

 

I'm moving your thread to the HSBC forum here and hope the guys will be able to help you.

 

My best, HB

[citizenB]

You need to send a Subject Access Request and obtain all the data - including statements, to HSBC.

 

Once you have details of the PPI and how it was applied you can then do your own spreadsheet to see if HSBC are being fair with the refund.

 

You could actually ask HSBC for a breakdown of how they have calculated the refund of the PPI.

 

If you have entered a repayment plan with them, have they not stopped adding charges and interest ?

[Kezmerrelda2]

Thank you.

Looking through other threads

will send a SAR with regard to the PPI.

 

Before the whole PPI thing though we were still having a nightmare with them.

 

They keep adding huge charges despite a payment arrangement having been in place for years.

 

They still add interest and after they took us to court to put a charge on our house backdated it a few years!

 

This was despite us having a payment arrangement that we had kept up with.

 

They had repeatedly told us they wanted more.

 

We were paying 400 then later 200 a month.

 

They wanted about 500.

 

Thing is with all they keep adding we are getting nowhere!

[citizenB]

It is likely you will be able to reclaim charges as well. Although that would need to be a separate claim. Once you have the statements you will be able to see how much they total.

[dx100uk]

urm........

 

i wonder where BCOBS sits with all these charges.

 

dx

[rdm2006]

Also, the question has to be asked, what effect has their involvement in "Rate Fixing" had on this debt - even if it has not been affected at least you get the chance to rub their noses in it for being caught out