Hsbc Refund Of Charges And M.c.s

[sparky111]

Hi i am sparky 111 and im new to this site so a big hello to everyone!Im not sure if this is posted in the right place but could someone please help me!!!Since march/april i have been trying to claim back my charges totalling £2016.50 plus interest of £435.37 which totals to £2451.87.After been given several dates of when to expect my offer letter from them and told they would refund me in the form of a cheque,i have just recieved a letter from them offering me a total of £1340.00 and it states that they do not accept the added interest as appropriate and therefore this offer does not include any interest.The letter then goes on to say that as i had an outstanding debt with them for a bank loan before they closed my account that the cheque they would send me if i accepted had to be paid directly to metroplitan collection services to reduce the debt and not to me!I currently have an arrangment with this company and pay them every month and have not missed a payment so therefore can they do this to me as its my money they owe me and its nothing to do with them how quickly i clear the debt with MCS.I would be really grateful if anyone could let me know where i stand now and what i should do next.I have had the letter for 3 weeks now and it states i have 8 weeks to reply.THANKS.

[johnny131070]

Hi Sparky, welcome to the site. Have you started a claim? I am in a similiar position and i started my claim on the 31/5/07. I received my first bit of correspondence last week offering me £1600 of a £2900 claim. They wanted to pay £1500 of that to Metropolitan to clear an outstanding amount. I have been paying £100 monthly against this. I politely told them that i was declining their kind offer. Stick to your guns and go all the way, they will settle in full! As for Metropolitan, i would send a letter stating that you will only accept payment in full in the form of a cheque and continue paying the DCA separately. It is your money so they cannot choose where it goes!!

[sparky111]

Hi Thanks For Your Reply,did Your Total Include Added Interest In What You Asked For?i Have' Nt Done Anymore Or Had Any Further Correspondence With Them Since I Recieved This Letter.if I Decline Their Offer Is There Anyone Out There That Would Kindly Help Me Word The Next Letter I Need To Send Them?

[sparky111]

Hi i am sparky 111 and im new to this site so a big hello to everyone!Im not sure if this is posted in the right place but could someone please help me!!!Since march/april i have been trying to claim back my charges totalling £2016.50 plus interest of £435.37 which totals to £2451.87.After been given several dates of when to expect my offer letter from them and told they would refund me in the form of a cheque,i have just recieved a letter from them offering me a total of £1340.00 and it states that they do not accept the added interest as appropriate and therefore this offer does not include any interest.The letter then goes on to say that as i had an outstanding debt with them for a bank loan before they closed my account that the cheque they would send me if i accepted had to be paid directly to metroplitan collection services to reduce the debt and not to me!I currently have an arrangment with this company and pay them every month and have not missed a payment so therefore can they do this to me as its my money they owe me and its nothing to do with them how quickly i clear the debt with MCS.I would be really grateful if anyone could let me know where i stand now and what i should do next.I have had the letter for 3 weeks now and it states i have 8 weeks to reply.THANKS.

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[freakyleaky]

As you say it is your money and you can stipulate the conditions on how thay pay it to you.

This is only my oppinion but I would reject it and tell them you will only accept the fll amount of your charges and paid to you in the form of a cheque otherwise you will be starting a claim through the courts.

You can find a letter for this in this thread Rejecting Offers

 

I am hoping lat is around to have a look and advse further.

[lateralus]

i see it but i'm not sure how to advise - except to say the same thing -

we have had many, many who have the same thing and

firstly, it's not a good offer and second, when you do get a decent offer and want to accept it - you accept it on your terms - you have an arrangement with metro. and it's nothing to do with hsbc.

i agree - refuse the offer and file your claim with the court.

 

take a look at the getting mcol right link in my signature.

Getting MCOL Right

[johnny131070]

Yes it included the 8%. This link may help http://www.consumeractiongroup.co.uk/forum/bank-templates-library/25716-rejecting-offers.html

[pugsley]

http://www.consumeractiongroup.co.uk/forum/other-institutions/10900-loan-company-cannot-supply.html

 

Hi, Have you asked for a copy of the credit agreement for the loan? if they do not have one they cannot enforce this loan. As they are aware of the fact you are becoming more knowledgeable of your rights they may want this loan paid off because they know they have no credit agreement.

 

Remember that before court any offer received will not include interest but once a claim has started any settlement should with negotiation include the interest.

[Parkvale]

sparky111, Reject their claim. What they are saying to you is a big put off. Use johnny's link to rejecting offers. The loan is a completely seperate agreement so they have no right to pay this off. You may wish to pay this off yourself and lower your indebtiness to them. Please start a thread in the HSBC forum. http://www.consumeractiongroup.co.uk/forum/hsbc-bank/. Where you claim will be easier to follow and help.Please do not be worried to ask any questions however silly they seem. The Consumer Action Group has over 150,000 people as registered users and has helped over 9,000 people to reclaim over £15,000,000. So we can help you. Good luck.

[Castlebest]

Few other people in the same boat as you here

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/105532-hsbc-say-my-refund.html

 

pete

[pugsley]

great link thanks

[sparky111]

Hi thanks for all your replies this has been helpful i have also posted this on the HSBC forum now.

[Parkvale]

Pleasure

[sparky111]

thanks pugsley,no i havent asked for a copy of the loan agreement,in your last sentence of the above do you mean that anyone paid out before it goes to court will NOT get interest on top??sorry if im sounding thick!!

[jowalshy]

Yes, if you get an offer and you accept it before you file a court claim, you will not get the statutory interest @ 8%. If you are claiming overdraft interest (and it has to be only the actual interest relating to your charges), then you can still claim for it, but you will probably end up going down the court route for the extra interest

[MARTIN3030]

Have merged both of your threads Sparky to keep it all together.

Feel free to ask for further help from here.

[pugsley]

thanks pugsley,no i havent asked for a copy of the loan agreement,in your last sentence of the above do you mean that anyone paid out before it goes to court will NOT get interest on top??sorry if im sounding thick!!

 

this was answered, and you are not sounding thick hun xx:grin:

[sparky111]

hi just to keep you all updated ive just emailed my rejecting letter of their offer and ive included the fact that i wont accept it to be paid directly to metropolitan!i used the draft letter that

siobhan1234 vbmenu_register("postmenu_1012879", true); used.i have also posted the same letter to them today recorded delivery so they have no excuse of saying they didnt recieve it!!i have given them 14 days.hope this was right??i will keep you informed.

[sparky111]

cant believe HSBC,on monday 30th i recieved another letter from them re my charges stating that they havent yet heard from me about their pathetic offer and if i fail to reply within 7 days they will consider the matter closed!!it was sent to me the same day that i sent and emailed my letter to them so they hadnt recieved mine at time of sending,but my point is how can they change the timescale they give to respond to them as my offer letter 6th july clearly states i had 8 weeks to reply.afterall theyve made me wait a lot longer than the bloody 8 weeeks they were supposed to respond by!!

[lateralus]

pathetic or not - now with the oft test case on the cards and all cases being stayed - it's the only offer you are likely to see this year and probably next -

it's actually an opportunity for you to get some cash now while everyone else is going to have to wait quite possibly a couple of years to see anything. might be worth considering the offer. up to you, of course.

 

but as for it being paid to you and not metropolitan - use this letter if you decide to accept the offer:

 

 

 

With reference to your letter of xx/xx/xx, I accept the offer you put forward in your letter, however I find the terms you have attached to your ex gratia payment of £xxxx.xx unacceptable for the following reasons:

 

I would like to point out that any direct payment to the Debt Collection Agency, Metropolitan Debt Services is unacceptable on the basis that it will create an unlawful preference over my other creditors. I have already entered into an acceptable agreement Metropolitan Debt Services to pay back the sum at an agreed and affordable rate.

 

With the sum of money I am claiming from you, it would be most prudent of me to distribute any monies equally and fairly between my creditors while still leaving my family enough to live on.

 

I therefore expect a cheque within 14 working days, made out to myself but if I do not receive this then I will continue with my claim for charges.

[sparky111]

thanks lateralus

 

only trouble is ive already sent letter declining that offer,so im presuming i cant change my mind now and send your letter..or can i???

[lateralus]

if you want to try - no harm in faxing, emailing, calling or writing to ask if you can accept the offer, quickly!

[sparky111]

HI lateralus ,just to let you know ive emailed the letter you reccomended i use ,now accepting their original offer i did it yesterday.i will let you know the outcome! thanks for yor help.

[freakyleaky]

Good luck sparky! Please let us know how you get on!

[sparky111]

:confused: well i finally got a reply from the bank today re my last email on 5th august accepting their offer but paid to ME,AND THIS IS WHAT THEYVE SAID

"one of the terms of the offer made to you was that the payment would be used to reduce the amount owed to the bank ..........,

as youve requested the payment be sent to you you are not accepting the terms of our offer.in the circumstances and to ensure we act fairly(???!)we feel we should advise you of this incase it was not your intention to reject our offer."

it then goes on to say if it was my intention to reject their offer take no further action and await the outcome of court case.

 

so basically are they saying i havent got a leg to stand on at the moment and i dont have the right to say its my money i want it paid to ME