Reclaim Unfair Bank Charges article discussion Part II

joa05jr

rubylips wrote: »

Hi joa

all claimes are on hold until after the court case.
But if you are claiming through financial hardship you should have your claim reviewed.

Hi rubylips thanks for your reply. I've had a look around this site but can't seem to find anything about the financial hardship situation, could someone explain it (or link me to it) please, thanks!

rubylips_2

Basically its to do with your finances.
Maybe long term sick or unemployed or severly in debt.
Go to the main page, click on claim £1000s at the top then click on reclaiming news and it will explain everything better there.
Good luck with your claim.

jennie_alli

can anyone help with this question??

i put a claim in against HSBC in march 07 just before the claims were put on hold so i have not as yet been able to take it any further, however in the mean time i have been continuing to recieve charges :mad: ....can i send another claim to go with the one i'm still waiting for?? i'm hoping to start my claim through hardship but dont want to miss out on claiming back the charges i have received in the past 18 months

thanks

vanman7

jennie_alli wrote: »

can anyone help with this question??

i put a claim in against HSBC in march 07 just before the claims were put on hold so i have not as yet been able to take it any further, however in the mean time i have been continuing to recieve charges :mad: ....can i send another claim to go with the one i'm still waiting for?? i'm hoping to start my claim through hardship but dont want to miss out on claiming back the charges i have received in the past 18 months

thanks

Just add the charges to your original amount and send in Martins template letter for financial hardship and inform them that since you started your ogirinal claim you have now had more charges to your account and as a result has increeced your claim from £xxx to £xxx.

Good luck.

esmerellda

GhostHunter wrote: »

Hi


I am currently compiling a reclaim against Lloyds TSB and have been told that I can claim overdraft interest fee only if I am claiming compound interest (I assume this is correct). What is compound interest? and how do I apply it / figure it out?

Please can somebody explain to me (in simple English lol ) what the difference is and other options are?

Also if I wanted to claim hardship how do I do this? We are struggling for money at the moment and not looking foward to winter when our combined income may getreduced making it worse!

Many thanks

Compound Interest is completely seperate and although there are some cases in the court at the moment testing claims on this basis I wouldnt recommend anyone goes for it without some serious legal knowledge and a lot of reading - cases such as Sempra/Halllida etc and you'd need to look at the charges reclaiming focussed sites for more information.

The interest you are talking about is the overdraft interest they have charged you on the part of your overdraft which was cause by the unfair charges.

Its inherently difficult to work out and unless you were thousands in overdraft permanently then it would only work out to be pence.

To work it out you need to know the date of charge, the balance on day of chagre, and your overdraft limit and unauth overdraft interest rate on day of charge, how many days till your account reenters credit etc etc.

Most people just add on a sentence ' charges and interest charged thereon' to their letters.


Regarding the hardship claim - its not a guarantee of a refund, but may make the bank treat you in a way to reduce the hardship you suffer. Such as stopping future charges and interest, moving you to a basic account etc.

Would have to know your details a bit more whether you might qualify, and basically you would write a personal letter and send your income expenditure to the bank and ask them to consider your claim and circumstances under the financial difficulty rules in the waiver.


Hope that helps a bit. I can explain mor eon compound interest if you like but I'm not a great expert.

ForwardHo

I was excited at the prospect of getting back several hundred of pounds from HSBC for charges over the years, but after a closer look at my statements I realise that the pounds they have taken from my account each month for years is interest from the part of my overdraft which is not interest free. The amounts range from as little as £1 to over £15 depending on how much of my overdraft was interest free at that time and how over drawn I was. My account has changed through the years from student to graduate and now back to normal account so to start off with I had a large interest free overdraft, but not now.
There are very few times I have been charged larger sums like £25 or £30 for things like cancelled cheques or when they've sent me a letter notifying me that charges on my account have changed.

So, to get to the point....

Are the varying amounts of interest which are taken from my account each month considered as unlawful charges? Can I claim them back?

I haven't had all of my six years of bank statements come through the post yet but I'm sure HSBC has taken a good few hundred over the years, surely more than the true rate of inflation (or whatever it is).

Can anyone help me understand this point and work out what to do about it???:o

napper

Hi,I have been trying unsuccessfully for some time to reclaim unauthorised bank charges on my business account from natwest.Yesterday they replied stating they werre rejecting my claim & that the current test case only related to personal accounts& NOT business accounts & if i wanted to try & reclaim should either go to the ombudsman or the courts anyone have any thoughts on their reply & what route is better??thanks

louise_b20054

I am still waiting for mine, did it some time ago through this website and they send letters telling me that the charges have been confirmed as fair and it looks as if i am not going to get a reclaim back

Bernie747

hi all
i have sent 2 letters to hsbc bank and they sent a letter back with the usual text on it...and telling me i have to wait blablabla
so shall i send them a letter to court or shall i wait?
in the guide i have read they recommend to send them a letter that i go to court
any suggestions?
thanks a lot

esmerellda

ForwardHo wrote: »

I was excited at the prospect of getting back several hundred of pounds from HSBC for charges over the years, but after a closer look at my statements I realise that the pounds they have taken from my account each month for years is interest from the part of my overdraft which is not interest free. The amounts range from as little as £1 to over £15 depending on how much of my overdraft was interest free at that time and how over drawn I was. My account has changed through the years from student to graduate and now back to normal account so to start off with I had a large interest free overdraft, but not now.
There are very few times I have been charged larger sums like £25 or £30 for things like cancelled cheques or when they've sent me a letter notifying me that charges on my account have changed.

So, to get to the point....

Are the varying amounts of interest which are taken from my account each month considered as unlawful charges? Can I claim them back?

I haven't had all of my six years of bank statements come through the post yet but I'm sure HSBC has taken a good few hundred over the years, surely more than the true rate of inflation (or whatever it is).

Can anyone help me understand this point and work out what to do about it???:o

Interest is not unlawfully unless it is extortionate, which unless its something like 70% it isnt. If you have been overdrawn for a large amount of time the interest will have stacked up considerably.

if you are struggling to manage in the overdraft you could ask for it to be converted to a loan and repay it that way and NOT get a new overdraft.

the charges, and the interest charged on those charges, is unlawful and can be reclaimed.