HSBC offer - advice needed on what friend should do.

AFCChris

Hi

A friend has been trying to reclaim from HSBC and has received a letter from HSBC offerring him £1010.25 of his £1402.14 claim. They are not accepting liability but saying if it goes to court, which it is, it is not commercially sensible due to legal costs and management time so wish to settle out of court. He had started the legal process through MCOL last week.

They are not willing to include interest and said he had gone back more then 6yrs which is not the case as the claim covered transactions from 14th April 2001 to 11th January 2007 (claim was originally sent well before 14th April!)

My friend is thinking of rejecting their offer and continuing the action. Do people on here think he's right to do this? I think that bearing in mind the bank has said they don't want to go to court that he's in an ideal bargaining position to continue.

Is it worth him accepting the £1010.25 as a partial payment and continuing the claim to get the rest? Also, if he did that would he need to amend the court action stuff to show the remaining amount?

Cheers

Chris

Beate

As your friend has gone to court, he is now entitled to the interest and court costs, so why stop now, especially as the bank doesn't want to go to court? Should make them settle a bit quicker.
He can either reject the offer outright or accept as part payment without prejudice, he would then have to amend the claim with the court.

Slug

Once i've put my claim in to court, can i add interest afterwards ? Or do you have to do it during your claim ? I'm claiming £1500.00 + (£120.00 court costs) have not added any interest !

Beate

You should have added it while filing the claim! You can still amend but I think it costs £35.

Slug

:j


I'm still waiting for my court questionnaire, i might be able to amend it on there ? I called them up and they said it takes up to 10 days, so it should be here any day now !

Its definately worth adding interest if it only costs £35.00, but it will proberbly delay things longer, its taken months to get to this stage already !
I will have a go on that new intrest calculator and see how much i will benifit !

Thanks Again :T