Hardship Query - Any Help Appreciated

craigj2

Hi,

I have an account with HSBC and I am trying to get about £1100 in bank charges back.

I have discussed my income and outgoings with HSBC on the phone. We worked out my monthly income to be £1140 and my outgoings to be £1276.

However, aprox £300 of this is from monthly payments to personal loans & credit cards. I have been told that because they do not count this amount that I pay to other debtors when calculating hardship, that I do not qualify to be classed as hardship and receive my fees back.

Is this correct? Every month I am accruing more fees. I am looking for a more long term solution such as a higher paid or second job, but having my fees back would really help me to keep my head above the water while I do this.

Thanks in advance for any advice you can give me.

Many Thanks
Craig

natweststaffmember

craigj2 wrote: »

Hi,

I have an account with HSBC and I am trying to get about £1100 in bank charges back.

I have discussed my income and outgoings with HSBC on the phone. We worked out my monthly income to be £1140 and my outgoings to be £1276.

However, aprox £300 of this is from monthly payments to personal loans & credit cards. I have been told that because they do not count this amount that I pay to other debtors when calculating hardship, that I do not qualify to be classed as hardship and receive my fees back.

Is this correct? Every month I am accruing more fees. I am looking for a more long term solution such as a higher paid or second job, but having my fees back would really help me to keep my head above the water while I do this.

Thanks in advance for any advice you can give me.

Many Thanks
Craig

If you read the FSA Waiver on Bank Charges PAGE 11 there is the criteria for hardship. If you think that HSBC has got it wrong, then it may be worth appealing to them and quoting the specifics that are valid to you

"2.
In making an assessment of financial difficulty the firm will take into account:
a.
evidence of changes in lifestyle, including loss of employment; disability; serious illness; imprisonment; relationship breakdown; death of a partner; starting a lower paid job; parental/carer leave; and starting full-time education;
b.
evidence of the following events:
i.
items repeatedly being returned unpaid due to lack of available funds;
ii.
failing to make loan repayments or other commitments;
iii.
discontinuation of regular credits;
iv.
notification of some form of insolvency or court proceedings;
v.
regular requests for increased borrowing or repeated rescheduling of debts;
vi.
making frequent cash withdrawals on a credit card at a non-promotional rate of interest; and
vii.
repeatedly exceeding a credit card or overdraft limit without agreement (and, in this regard, where a complainant has incurred over £500 in unauthorised overdraft charges in the previous 12 months, that is to be treated as indicative of financial difficulty)."
If they still decline then it is worth going to the Financial Ombudsman Service for them to make a decision.