HSBC are stressing me out!

funkyxmooover

Hello everyone.

My partner and I have a claim with HSBC for about £900 (which is actually more now since we've ahd about another £400 of charges go on since i sent the letter). We got the usual response about waiting until the test case was done with and then we put in our financial hardship claim. They refunded us £180 because we were unable to meet our essential living needs but what happened there was the man on the phone increased our OVD facility to £500 so we could withdraw the money but then reduced back down to £200 in 2 days so after the money was withdrawn we'd be waaaay over our OVD limit.

We then incurred even more charges for being £300 over our OVD limit so this month the same has happened again. I haven't written back to HSBC, I called them to try and get things moving along quicker because they're using all their deadlines to the max but everyone I've spoken to refuses to discuss anything to with the bank charges with me, they're also very rude.

It makes me die really, don't they see that if they acknowledged how far in financial difficulties we are they'd be more inclined to pay back the full figure, get us out of this mess and not have it snow balling like it is.

I've also had my cards cancelled because they're changing from maestro to visa and i can't withdraw any money until i get my new card (5-7 working days so next friday at the very earliest) and i need to put gas and electric in my meters and i need some bog roll :-\

Sorry for the ramble, I'd like to know what my next step should be. Please help!

natweststaffmember

I think you need to contact the FOS with regards to the fact that they acknowledged you were in hardship, increased the overdraft to allow withdrawal and then reduced it within 2 days and caused more charges to incur and therefore getting you back into hardship.

funkyxmooover

I thought there was something funny about that, surely they would have known that wouldnt help in the long term?

What should I write? I need this sorted out pronto, It's starting to make me sick.

natweststaffmember

funkyxmooover wrote: »

I thought there was something funny about that, surely they would have known that wouldnt help in the long term?

What should I write? I need this sorted out pronto, It's starting to make me sick.

It's not that easy with FOS and hardship claims that can take up to 3 months to complete.

funkyxmooover

natweststaffmember wrote: »

It's not that easy with FOS and hardship claims that can take up to 3 months to complete.

Of course, I totally appreciate that. I need to know steps are being taken, right now it feels like HSBC want us to suffer and taking us round in circles.

natweststaffmember

funkyxmooover wrote: »

Of course, I totally appreciate that. I need to know steps are being taken, right now it feels like HSBC want us to suffer and taking us round in circles.

Firstly you need these documents:
All letters sent and received from HSBC;
A list of the charges you are reclaiming
Income and expenditure list: http://www.moneyadvicetrust.org/content.asp?ssid=38
You then need to put down on paper the reason why you were unable to cover your priority creditors(mortgage/rent, council tax, utilities) and the effects the charges have had on you.
Furthermore you need to state what HSBC have done offered a refund which was accepted, increased the overdraft which was accepted and then they reduced the overdraft to £200 which sent you into a spiral of charges that is happening today.
You need to argue that out of the total of £xx.xx owed to you that an amount of £xx.xx will help clear priority debt arrears, and furthermore take you under the overdraft limit. I think you need to argue for a suspension of charges on the account of say 3 months to allow you to budget for the priority debts.
Send it recorded delivery to the Financial Ombudsman Service.

natweststaffmember

missed one bit, copies of any arrears notices as well

esmerellda

You aren't still having your income and expenditure going through hsbc are you ? If so get out NOW. Leave them to charge themselves and keep YOUR money so you have control of it.


Like nattie has said take it to the fos now - update your spreadsheet of charges, and also put in a complaint detailing everything to the FSA (they can't act on individual cases but this is terrible behaviour by hsbc and the fsa should be made aware as they are monitoring the waiver - head the letter 'Complaint regarding hsbc breaching terms of waiver in overdraft complaints handling')

funkyxmooover

natweststaffmember wrote: »

Firstly you need these documents:
All letters sent and received from HSBC;
A list of the charges you are reclaiming
Income and expenditure list: http://www.moneyadvicetrust.org/content.asp?ssid=38
You then need to put down on paper the reason why you were unable to cover your priority creditors(mortgage/rent, council tax, utilities) and the effects the charges have had on you.
Furthermore you need to state what HSBC have done offered a refund which was accepted, increased the overdraft which was accepted and then they reduced the overdraft to £200 which sent you into a spiral of charges that is happening today.
You need to argue that out of the total of £xx.xx owed to you that an amount of £xx.xx will help clear priority debt arrears, and furthermore take you under the overdraft limit. I think you need to argue for a suspension of charges on the account of say 3 months to allow you to budget for the priority debts.
Send it recorded delivery to the Financial Ombudsman Service.

I'm going to get right on this.
Thank you ever so much for taking your time to help me out with this. It is greatly appreciated