Household Bank/Beneficial Finance - HFC Bank Limited

stiletto_2

should i carry on even though they say no further correspondence will be sent by them
thanks
Stiletto

sweetgem1

Hi, I purchased a laptop from PC World nearly four years ago, financed by HFC Bank. After requesting statements, I have, this morning, received a list of transactions which make very little sense to me. The transaction descriptions are mostly in code and the transaction amounts and balance amounts do not add up properly. After spending 15mins on the phone trying to clear this up I am no further forward. I really think I'm being 'screwed' but do not know who can explain this to me. Also I don't think there are any actual charges which I could claim back, or maybe they're just well hidden! Somebody please help. Even if there are no default charges I still think there is something wrong with this account. Thanks.

dori2o

sweetgem1 wrote: »

Hi, I purchased a laptop from PC World nearly four years ago, financed by HFC Bank. After requesting statements, I have, this morning, received a list of transactions which make very little sense to me. The transaction descriptions are mostly in code and the transaction amounts and balance amounts do not add up properly. After spending 15mins on the phone trying to clear this up I am no further forward. I really think I'm being 'screwed' but do not know who can explain this to me. Also I don't think there are any actual charges which I could claim back, or maybe they're just well hidden! Somebody please help. Even if there are no default charges I still think there is something wrong with this account. Thanks.

HFC's statements are very hard to read. But if you go through them you will see a pattern emerge.

When you make a payment to them, they use that payment to firstly pay and penalty charge on the account, then interest then capital.

Also what the statement shows when you have missed a payment is as follows.

On the day the payment is due, is shows that a payment has been received, then on the next line it shows it being added back on. It refers to this as payment reversal.

I found it easier to draw up a spreadsheet and put the information onto that in a way i would understand it.

The penalty fees on the statements are shown as Admin Fees.

Les101_2

I have recently submiited a request to "GM Card" which is a trading style of both HFC Bank Ltd and Vauxhall Motors Ltd, for repayment of charges debited to my credit card. The charges were in respect of Late Charge Assessment fees, Overlimit Charge Assessement fees and NSF Check Charge Assessment fees.

I received a prompt reply which in summary states that "The amount of these charges, and the circumstances in which they are applied, is set out clearly in HFC Bank's credit card agreements. We believe that HFC Bank's charges to customers are fair and reasonable. The OFT has recently published the findings from its enquiry into default charges on credit cards. HFC Bank has carefully considered the OFT'S publication and does not accept its findings. However, the OFT's investigation has led to a change in market practices and HFC Bank has therefore decided, for commercial reasons and in the interests of customers, to reduce its credit card default charges for the future. These changes do not affect charges that have already been applied. Accordingly I regeret that we are not prepared to make any refund of default charges or provide any compensation payments."

Has anyone else had dealings with GM card/HFC Bank as I have been unable to see any other threads relating to them?

Should I now send the Court letter, I did not claim interest in my initial request, can it be added to the amount claimed when sending the Court letter?

All help will be gratefully received.

Russjo

I need some advice...I requested information from HFC Bank who responded pretty quickly with the info. However, when I looked through the list of transactions, not only have they charged me interest and administration fees(as expected) I noticed that for every payment I made, they did not deduct the full amount from the balance. For example if I made a payment of £32, they only decreased the balance by £31.87. I'm really angry, but unsure of what to do...should I just go down the usual routes and claim the discrepancies with the charges, or should I claim the discrepancies separately???

exporttrainer

I too have accounts with HSBC and HFC. I tackled HSBC first and agreed a good setlement. I then wrote to HFC and they came back with the Credit Card attempt. Small claims court procedure started. They have decided to defend (they say) and their solicitors have filed their letter with the court. Awaiting the next step.

I would be inclined to tackle both banks separately. Legally they are separate companies.

stiletto_2

I am reclaiming bank charges from HFC Bank to the tune of £7000.They initially offered £750 then a week later offered £1502.I rejected the offer and they have now increased it to £3402.If i accept this offer the acceptance form states the monies will be paid into my HFC account.I do not want it to be paid back into HFC Do i have the right to demand payment into a bank of my choice?
I would welcome advice
Thanks
Stiletto

Kurt_Hamster

You don't have a right per se, but you can certainly ask them to, or even make it a stipulation of any claim you make.

stiletto_2

With previous offers they have made it says on the acceptance form I understand that this sum will be credited to my chosen account" but this is not the case with the latest offer

Russjo

Hi, I'm currently making a claim against HFC on behalf of my husband but I've only just sent the first letter. They were very prompt sending the list of transactions and when I examined the balances closer, it turns out they haven't deducted the amounts paid properly, so now I'm claiming for these discrepancies as well.

With regard to your questions, if you have only sent the initial letter asking for your money back, you need to send the letter before action along with your spreadsheet telling them that they have 14 days to pay up or you will take them to court. Normally you only claim the interest when you have filed the court claim, but you can try to claim the interest before then. I've started with just claiming the charges and will move on to the interest if I put the claim through the court, as I believe I may have a better chance of getting the money without asking for the interest. I'm not sure if my strategy will work, I'm sure I'll find out soon enough.

Hope this helps

:cool: