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Thoughts on claiming other costs associated with original charges
squeaky1
Posts: 6 Forumite
Good evening all,
I have been thinking about this a lot.
I originally got into trouble with HSBC, racking up overdraft and credit card charges, when I was a lot younger.
They only way I could deal with the debt was to accept their Managed Loan offer. The original loan amount was £2700, and by the time I have finished paying it off in 5 years I will have paid nearly £4000. The other option would have been debt collection.
Since the loan was nearly as much as the total charges they had taken from my account over the years, could it be argued that;
1. The vast majority of the total loan amount was actually charges they had given me. Without which, I would have been able to personally manage the debt.
2. They have profited from the original charges, by selling me a Managed Loan, which is 9.9% above base rate and significantly higher than a standard product.
3. As I am (hopefully) about to win my claim of charges against them, they have profited from a crime against me, which they have been found guilty of.
If so, do you think I could somehow make a claim for this, once my original claim for charges refund is settled?
I have been thinking about this a lot.
I originally got into trouble with HSBC, racking up overdraft and credit card charges, when I was a lot younger.
They only way I could deal with the debt was to accept their Managed Loan offer. The original loan amount was £2700, and by the time I have finished paying it off in 5 years I will have paid nearly £4000. The other option would have been debt collection.
Since the loan was nearly as much as the total charges they had taken from my account over the years, could it be argued that;
1. The vast majority of the total loan amount was actually charges they had given me. Without which, I would have been able to personally manage the debt.
2. They have profited from the original charges, by selling me a Managed Loan, which is 9.9% above base rate and significantly higher than a standard product.
3. As I am (hopefully) about to win my claim of charges against them, they have profited from a crime against me, which they have been found guilty of.
If so, do you think I could somehow make a claim for this, once my original claim for charges refund is settled?
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