Calling all HSBC claimants!! Why restrict your claim to 6 Years?!!

[Celicaman]

Sorry all, i stand corrected.

I followed martins template and it included the interest, so for next ones i will use the CAG templates, i can see what you mean about being presumtious that the court would award interest as it sees fit, i thought it helped to give weight to your claim against the bank.

So really if it goes to court we should try to get more compound interest back than the statute interest , is that right.

If this is the case, what is the idea of having the spreadsheets to work out the interest if you are not putting them on the claim against the bank.

 

Celicaman

[chezt]

If this is the case, what is the idea of having the spreadsheets to work out the interest if you are not putting them on the claim against the bank.

 

Celicaman

 

You will need them to calculate the 8% for your claim form at that stage & also to calculate any interest you are claiming from the outset ... ie interest the bank have charged you on the charges + contractual interest if you are claiming it (ie charging the bank at the same rate they charge you for borrowing their money)

 

the 8% stat interest paid by the court is also not compounded just simple interest.

 

it is all confusing this interest malarky but once it clicks it's ok .... honest! You just have to decide eactly what you are claiming & your reasons/arguments for claiming it then stick to your guns!

[itsmeandonlyme]

Hello guys,

need a bit of advise...yesterday, i have received a letter with offer for the full refund of charges and interest but without contractual(about £490...with contractual+postage fees +stationary= £950)...after LBA....and not sure if i should accept it?(sorry to hijack the thread)

 

 

Thank you.

 

 

Kind regards,

 

 

Maria

[freakyleaky]

write a rejection letter saying that you will be filing a claim in the courts you will only accept what they are offering as a part settlement, as you are going to court to recover the rest.

 

Rejecting Offers

 

But thats only my oppinion!

[freakyleaky]

Oh sorry, hang-on! The offer was for all charges PLUS interest? I would accept it in that case. You could wait alot longer for the other and I don't think you can claim for postage and stationary in small claims court.

[hagenuk]

Hello guys,

need a bit of advise...yesterday, i have received a letter with offer for the full refund of charges and interest but without contractual(about £490...with contractual+postage fees +stationary= £950)...after LBA....and not sure if i should accept it?(sorry to hijack the thread)

 

 

Thank you.

 

 

Kind regards,

 

 

Maria

 

If you have been offered a full refund of your charges and court costs then to pursue a claim on the basis of contractual interest only is very foolish indeed.

 

If you were to lose, you could be seriously out of pocket. You absolutely must keep the unlawful charges central to this issue, if the charges are settled, then you are entering a whole new area of law. Also the very protection you enjoy from costs on the small claims track aslo protects the defendant - you cannot recover your costs for stationery and postage and in particular as if this offer was received after your LBA you have not even issued proceedings yet.

[Castlebest]

Hiya itsmeandonlyme. You don’t say at what stage you are at. If you haven’t filed your claim with the court I would accept the offer of your charges plus overdraft interest.

If you have filed your claim it really depends how you worded your claim particulars. The wording recommended by the honoured gurus of the HSBC forum who have issued proceedings including contractual interest and won states something like "plus contractual interest at xx% or alternatively statutory interest at 8% (I'm sure Bong and Crusher will correct me if I’m wrong).

If you have used this in your POC then DG should be adding at least 8% to your charges in your settlement figure and I would hold out for it. If you didn’t I think I would be inclined to agree with hagenuk that trying to recover just contractual interest on its own would put you in a very tricky situation.

pete

[Mostyn1704]

Hi Bong

 

 

I've posted on my thread a request for help but little informed reponse as yet. To be honest have been here for several months but still do not understand my way around the site, so apols if I am in wrong place.

 

Have read your stuff - brilliant work and congrats by the way I'm confident enough and prepared to risk court in my CI claim and have used yours and Mcuth's and Glenn's POCs as basis for mine, but have some questions>

 

My current claim is for 6 yrs 4 months, (I understand the arguments about S. of Limitations) However, I know that I have had hefty charges going all way back to 91 and am following with interest the debate about getting access to statements pre 6 years. Unfortunately I hve no statements beyond 2001, but am eager to push this, either thro estimating or getting hold of the allleged microfiche records....and am currently preparing to start the ball rolling on this.

 

My question is..do you think it would be even more difficult to lodge a second claim, enntirely composed of pre 6 year charges...or maybe I should hold off on current claim to link it all into one ?? I would value your opinion.

 

Question 2 I know you said in your excelllent summary that you could not use UTCCR 1999, but then I thought I saw you quoted it in your subsequent correspondance with the court. Same with Glenns PoC above. So am a little confused about whether we use it or not.

 

Finally (Sorry !) my account was upgraded to Account Plus in July 06 with lower rate of interest on overdrafts (15.6% instead of 18.3%) Do you think I should submit separate shedules for the past 9 months at this stage, (not inclined to do so) or wait till HSBC pick it up? I was going for the 3 alternatives,..18.35%..or, failing that, their standard borrowing rate (where did you get 15.9% from? ) , or failing that the 8%

 

Sorry for all this ......just really want to get my NI off now having read for weeks, but also want to get it right first time.

 

Thanks again for all your great work

[hsbcfiddled]

Hi Bong,

 

From what point should i be claiming contractual interest or up to what point can i claim contractual interest?

[Glenn UK]

Hi Bong

 

 

I've posted on my thread a request for help but little informed reponse as yet. To be honest have been here for several months but still do not understand my way around the site, so apols if I am in wrong place.

 

Have read your stuff - brilliant work and congrats by the way I'm confident enough and prepared to risk court in my CI claim and have used yours and Mcuth's and Glenn's POCs as basis for mine, but have some questions>

 

My current claim is for 6 yrs 4 months, (I understand the arguments about S. of Limitations) However, I know that I have had hefty charges going all way back to 91 and am following with interest the debate about getting access to statements pre 6 years. Unfortunately I hve no statements beyond 2001, but am eager to push this, either thro estimating or getting hold of the allleged microfiche records....and am currently preparing to start the ball rolling on this. Personally i would keep my claim as a single entity if possible, all charges no matter how old. if you have a claim for charges composed soleley of pre six years then the court may decide to allow arguments to be heard at allocaiton hearing for the dismissal of the claim in its entirety. Of course this is always a chance whether you have old charges or not, but the thing is having a mixture of both pre and post six year cjarges allows you to use a number of strategies for defeating the banks tactis and hence increases the chances of getting the right settlement for the claimant imho.

 

My question is..do you think it would be even more difficult to lodge a second claim, enntirely composed of pre 6 year charges...or maybe I should hold off on current claim to link it all into one ?? I would value your opinion.

 

Question 2 I know you said in your excelllent summary that you could not use UTCCR 1999, but then I thought I saw you quoted it in your subsequent correspondance with the court. Same with Glenns PoC above. So am a little confused about whether we use it or not. I understand that you can use the UTCCR on accounts opened post 1995, my accounts were all opened after this date.

Finally (Sorry !) my account was upgraded to Account Plus in July 06 with lower rate of interest on overdrafts (15.6% instead of 18.3%) Do you think I should submit separate shedules for the past 9 months at this stage, (not inclined to do so) or wait till HSBC pick it up? I was going for the 3 alternatives,..18.35%..or, failing that, their standard borrowing rate (where did you get 15.9% from? ) , or failing that the 8% You cannot really wiat for them to pick something like this up imho. If you know about the issues then make a decisions about how to address it and make it clear on your poc. FWIW I would take the latest unathroised rate and apply it to the lot.

 

Sorry for all this ......just really want to get my NI off now having read for weeks, but also want to get it right first time.

 

Thanks again for all your great work

 

HTH

 

Glenn

 

 

PS cant let Bong have all the fun can we!!

[beat66]

Having looked through some more of the site, i am now tempted to pursue the charges post 6 years!! When i started my career 10 years ago, i ran my account about 200pounds beyond my means - due to childcare costs originally, but then as the charges became higher and higher, my overdraft went up and up and then i was called into the bank where they offered me a loan. Then a few months later as i was still living beyond my means, they offered to top this up - again and again and again!!!! In the meantime i was having charges thrown at me left right and centre. Whilst i am able to recall these difficult times, i do not have my statements. When i sent my S.A.R - (Subject Access Request), i never specified that i only wanted 6 years, however that is all they sent!! I am at the MCOL stage for my original claim (altho the bank have written to me telling me that my spreadsheet is holding incorrect information that doesn't agree with thier records!!! They're is another thread about that tho!!!) but i'm becoming more bitter about what situation the bank put me in, the loan was only paid off last year - after i sold my property.... By that time i had defaulted - my credit rating is crap and feel that HSBC did a lot to put me there!!! Can anybody help with where i go from here??

[Mostyn1704]

Hi Glenn. Thx v much for advice - apols for delay - birth of grandchild took me away I'm now considering putting in my claim for 6 years + 9 months now, as these are the only statements I have> My thinking is that getting is that IF successful with this then I will have established principle that they will pay beyond 6 years, and IF we ever succeed in getting info from beyond that date from microfiche records or whatever, I can make another claim, using fact they didn't comply in full to my first SAR request. Getting that info is surely going to be a long process which is going to need more time and work. I do however greatly appreciate your comments and am following your thread.