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HSBC Bank charges reclaim

Hi, this is my first post in a forum so apologies if I have put in the wrong location or if this has been previously answered.

in 2003 I took out a professional graduate loan with HSBC who had been my bank for many years before this. When my MA finished in 2007 I did not secure employment and could not cover the £350 a month payment for the loan which in hindsight was a ridiculous amount to find every month as a newly graduated person on top on normal living expenses. Subsequently, I fell into arrears and had charge after charge applied to my account. In 2008ish I went through stepchange to manage my money as HSBC had sold the debt to DG Solicitors. HSBC finally closed my account I believe in 2009. I spoke to HSBC today who say I can only get a list of transactions going back to September 2005. They are hopefully sending me this information.

I wanted to know if I can make a claim going back this far as the template states in the last 6 years? I feel most of my charges would be from I am really struggling now and certainly was back then even though I have no actual proof.

Any advice would be gratefully received.

Comments

  • dunstonh
    dunstonh Posts: 119,870 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    wanted to know if I can make a claim going back this far as the template states in the last 6 years?

    Be wary of using templates that were designed to be used before the banks won the court case on unfair charges.

    I am struggling to see what basis you think the bank should refund the charges. You cant use the unfair bank charges option any more. You dont qualify for financial hardship. So, what basis would you be asking them to refund?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thank you for advice in regards to template and I will be aware of personalising my letter.

    Could you explain why, "You cant use the unfair bank charges option any more."?

    Why do I not qualify for financial hardship???
  • dunstonh
    dunstonh Posts: 119,870 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Could you explain why, "You cant use the unfair bank charges option any more."?

    Why do I not qualify for financial hardship???

    It is current financial hardship and you have to be banking with them. you ceased banking with them 6 years ago. So, you do not meet the criteria.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thank you for your responses dunstonh. I found an article written in March 2014, which states that you can, does this still not stand or have the rules changed since this was written?
    Closed accounts: your rights

    Banks know that they cannot dodge complaints about closed accounts.

    "Any former customer who has closed their Santander bank account can of course come back to us to query charges or any other issue that occurred prior to the account closure," Santander told us.

    Nationwide agreed. "We'd assess any claim from an existing or previous customer on its own merits," a spokesperson said.

    As so often when it comes to dealing with banks, another answer might well be down to poorly trained staff or a misunderstanding of the question.

    The solution to that is simply perseverance: the normal procedures for complaints do still apply.
  • tomtontom
    tomtontom Posts: 7,929 Forumite
    All your quote shows is that they will consider your complaint, which is correct. They'll consider any complaint - it keeps the ombudsman happy - that's not to say they will pay out without a valid reason.
  • dunstonh
    dunstonh Posts: 119,870 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=32767

    The above FOS decision seems to be similar to your situation.

    The info you post is right about incorrect application of charges or packaged bank account charge complaints. They have to consider any complaint you make on any subject. Consideration and outcome are two different things.

    Banks do not have to refund anything. As part of the support, they can suspend charges, defer repayments, suspend interest or refund some charges. Often the banks will look to refund just the recent charges (upto 6-12 months). Whilst some people have got back more, it depends on their current financial position and they have to bank with them now or very recently.

    it is possible a bank could consider your complaint. It is impossible for anyone here to pre-judge an outcome on any complaint as we have so little info. So, still make it. However, you need to do this with no expectation of success. It would be very easy for the bank to reject it on the basis of you defaulting, going through account management and not having any business relationship with them for 6 years and therefore not linked to your current hardship.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thank you so much for your time. Yes, I appreciate that it is a small chance but feel it is not going to hurt to try. As it is, if I do receive any payment it would go to paying off the debt so it is not purely for personal gain but hopefully working closer to the goal of paying off the original debt.

    Thank you again duhstonh, you have given me a more rounded understanding of this complex situation.
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