Bank Charges - what to do next ?

heledods_2

Hi,

I had a loan many years back with HSBC that enabled me to repay one month but take back that money the next day (Flexi loan). This loan grew and grew as although I was paying back - thge money was available the following day - almost like a little pot - so I never really paid any off. I ran into difficulty and ended up being passed to a debt collector and have been paying of £50 a month every since. Problem is that the debt is £9000 so obvioulsy will take years to pay off. My argument is that most of the debt is charges due to late payments and interest added on.

I put in a claim for charges when the bank charge deal came to light (nearly 1 and half years ago) and added on interest which meant that they should be giving me back around £4000. I had a letter back to say it was all on hold and wait for test cases but have heard nothing since.

Do I write again just to remind them or do they automatically have to reply to all in the queue when the case in court is settled. Im worried I may get forgotton if I dont chase and to me its a lot of money to take off my debt.

Also, my interest worked on the date that I sent the letter so does the interest gain as time goes on ?? Do they amend that interest or do they work on the figure I gave and thats it??

Many thanks for any advise

Helen

natweststaffmember

heledods wrote: »

Hi,

I had a loan many years back with HSBC that enabled me to repay one month but take back that money the next day (Flexi loan). This loan grew and grew as although I was paying back - thge money was available the following day - almost like a little pot - so I never really paid any off. I ran into difficulty and ended up being passed to a debt collector and have been paying of £50 a month every since. Problem is that the debt is £9000 so obvioulsy will take years to pay off. My argument is that most of the debt is charges due to late payments and interest added on.

I put in a claim for charges when the bank charge deal came to light (nearly 1 and half years ago) and added on interest which meant that they should be giving me back around £4000. I had a letter back to say it was all on hold and wait for test cases but have heard nothing since.

Do I write again just to remind them or do they automatically have to reply to all in the queue when the case in court is settled. Im worried I may get forgotton if I dont chase and to me its a lot of money to take off my debt.

Also, my interest worked on the date that I sent the letter so does the interest gain as time goes on ?? Do they amend that interest or do they work on the figure I gave and thats it??

Many thanks for any advise

Helen

The bank have acknowledged the claim with the letter. interest will build up as long as the OFT test case issues are unresolved.