HSBC (merged)

esmerellda

carrielouise80 wrote: »

Hi all,

I am currently helping my parents reclaim charges from HFC bank there are pages and pages of figures, some abbreviations which we are confused about are listed below...

Please can someone translate them and let me know if these are reclaimable?

admin fees ranging from £15 to £45

reg pmt/eff dte £363.41 this abbreviation appears twice quoting this figure

irregular pmt - ranging from £363.41 to £1090.23 - 6 times in a 2 period.

credit reversal - £363 appearing numerous times.

there are in excess of 200 pages to sift through so i am sure there will be more....any help would be gratefully received

The transaction codes are as follows:

1st DISBURSE = the initial disbursement of your loan.

ADDL DISBURSE = Additional disbursements. If the money all went to you, you would not see this. If there were amounts used to pay off other creditors, they would be listed here with an "ADDL DISBURSE" for each amount.

INT CAPITALISE = Interest Capitalise. This is the interest charge for the month being added to your account balance. All HFC secured loans had interest accrued daily, charged to the account monthly.

REG PMT-EFF DTE = Regular Payment Effective Date. This is payments from you being credited to your account.

ADMN FEE ASSESS = A late payment charge for "administration costs".

IRREGULAR PMT = This covers any other credits to your account made by you. It does not cover any refunds of interest or such like.

PRIN DR ADJ = Principal Debt Adjustment (not too sure about the Debt bit). This is used to make any adjustments to your account balance.

PUT ON NON-ACCR = Put on Non-Accrural. This means your account no longer forms part of their receiveables (receiveables are loans they've lent out which are paying them back with interest and form part of their income & loss. When you stop paying beyond a certain point, they cannot count it as an asset).

CHARGE OFF = Bad Debt. The loan has been written off their books so to speak. You still owe the debt, but they do not count it as part of their receivables and may assign or sell the debt to another company.

REMOVE FROM C/O = The have reclaimed the debt from their charged off accounts. This only happens if they have good reason to do it - i.e. you pay a certain amount.

INT ADJ = Interest Adjustment. Sometimes, they refund or re-charge interest.

In all honesty, HFC should have provided you with a full explanation of all the jargon as simply sending out a breakdown of the account with all the internal codes is simply unacceptable.



Thanks to Scooby on CAG

tonyf77

Thank you for your reply Edinburgh lass.

With regards to your reply - when you say "by the time your 14 days are up " does this mean the 14 days from the date of the first letter asking for my charges back - or 14 days from the date of the letter they sent?

once agai nthank you for your help.

esmerellda

YOUR letter Tony - YOUR letter YOUR deadline

Send the 2nd letter 14 days after you sent the 1st

a.mirza

please can anyone kindly let me know whether these charges are claimable
1)Arrangement fees
2)renewal fee charge
3)stopped cheque fees
4)charge recall S/O D/D
VERY COMPLICATED
CHEERS FOR ANY ADVICE THANKS

carrielouise80

thank you so much for this, i can't tell you much this means to my parents!

in 2003 an HFC bank manager defrauded them and other customers and was actually imprisioned for the offence, my mother was very ill at the time and my father as learning difficulties so the matter wasn't dealt with as it should have been. i,e. Dad didn't understand the situation and he was too proud to admit he couldn't read what he was signing - that document was a waiver relinquishing any right on getting back any of the money the old bank manager took from them as they couldn't work out what the man had taken and what my father had had. Looking through the statements one line reads that there was £3,000 taken out at the branch on new years day!!!!!! I'm not sure how we will proceed with this as a separate matter to the charges but my parents are over joyed at the prospect of getting some money back.

pippamerlin

not sure what to do next ? help please !
i posted my first letter on 19/02/07 but had no reply, not a surprise there !
in the meantime, thanks to this site, i worked out how to go on line and get my last 6 years statements from hsbc so a week later i sent my 2nd letter ( 03/03/07) and today i have had a reply saying they are 'looking into the matters raised'
as it is now over the 14 days from the 2nd letter do i carry on and send the 3rd or do i wait - incidentally when i went into my branch for debt counseling 4 weeks ago my 'councilor' said between her and me i should push for the return of the charges as they are paying up !!! loyal bank staff there then ?


:j

Edinburghlass_2

I'd be inclined to get in touch with the Financial Ombudsman about the whole thing as many of these charges could well be connected with this theft. They will also take on bank charge cases.

Edinburghlass_2

a.mirza wrote: »

please can anyone kindly let me know whether these charges are claimable
1)Arrangement fees
2)renewal fee charge
3)stopped cheque fees
4)charge recall S/O D/D
VERY COMPLICATED
CHEERS FOR ANY ADVICE THANKS

Post 4 in the Reclaim Help Thread which is linked in my signature.

Twinkly

pippamerlin wrote: »

not sure what to do next ? help please !
i posted my first letter on 19/02/07 but had no reply, not a surprise there !
in the meantime, thanks to this site, i worked out how to go on line and get my last 6 years statements from hsbc so a week later i sent my 2nd letter ( 03/03/07) and today i have had a reply saying they are 'looking into the matters raised'
as it is now over the 14 days from the 2nd letter do i carry on and send the 3rd or do i wait - incidentally when i went into my branch for debt counseling 4 weeks ago my 'councilor' said between her and me i should push for the return of the charges as they are paying up !!! loyal bank staff there then ?


:j

Stick to your timescale not theirs and good luck

forbesy100

Hi again, as I posted my previous query late last night, I thought I'd ask again to see if anybody has experience on their bank taking away their overdraft facility once they begin taking action against them.

Many thanks,


Forbesy100