When Midland Bank changed to HSBC....

Bearadown

sourcrates said:

This is all pretty simple, you write a letter of complaint, as I said before, and allow the complaints process to complete.

They have 8 weeks to issue a final response to you.

One result you will not get from this, is "we can`t do anything".

A complaints handler will always investigate your issue, and then come back to you with a resolution.

They will never say to you, there is nothing we can do.

I`m giving you the benefit of the doubt with this response, because the schools are currently closed, assuming the story you have told us is correct, they should put things right for you.

Thanks will pass it on to my accountant as he's the expert, sounds interesting.

Pixie5740

Bearadown said:

sourcrates said:

This is all pretty simple, you write a letter of complaint, as I said before, and allow the complaints process to complete.

They have 8 weeks to issue a final response to you.

One result you will not get from this, is "we can`t do anything".

A complaints handler will always investigate your issue, and then come back to you with a resolution.

They will never say to you, there is nothing we can do.

I`m giving you the benefit of the doubt with this response, because the schools are currently closed, assuming the story you have told us is correct, they should put things right for you.

Thanks will pass it on to my accountant as he's the expert, sounds interesting.

Why are you passing this on to your accountant? Accountants do accounts, they don’t make complaints on your behalf. Why can you not write the letter or fill in the online form (which is working) or use Resolver yourself? As a literary person I would think you can compose a complaint. 

https://www.resolver.co.uk

Barny1979

Bearadown said:

sourcrates said:

This is all pretty simple, you write a letter of complaint, as I said before, and allow the complaints process to complete.

They have 8 weeks to issue a final response to you.

One result you will not get from this, is "we can`t do anything".

A complaints handler will always investigate your issue, and then come back to you with a resolution.

They will never say to you, there is nothing we can do.

I`m giving you the benefit of the doubt with this response, because the schools are currently closed, assuming the story you have told us is correct, they should put things right for you.

Thanks will pass it on to my accountant as he's the expert, sounds interesting.

The accountant who has missed you not paying any of a loan off whilst still making payments?

GrumpyDil

Barny1979 said:

Bearadown said:

sourcrates said:

This is all pretty simple, you write a letter of complaint, as I said before, and allow the complaints process to complete.

They have 8 weeks to issue a final response to you.

One result you will not get from this, is "we can`t do anything".

A complaints handler will always investigate your issue, and then come back to you with a resolution.

They will never say to you, there is nothing we can do.

I`m giving you the benefit of the doubt with this response, because the schools are currently closed, assuming the story you have told us is correct, they should put things right for you.

Thanks will pass it on to my accountant as he's the expert, sounds interesting.

The accountant who has missed you not paying any of a loan off whilst still making payments?

Very harsh. OP has made it clear that the accountant he is referring to is a friend of his he has asked to help and not actually his accountant.

Although I do accept the whole story is a little odd. I was wondering if he had set the payment up as a standing order which he hadn't cancelled but.... 

grandadgolfer

Bearadown said:

Guessing yet again....

Firstly and objectively I've not been paying my accountant anything, he's just a very good old and dear friend who I haven't spoken to for years as I do not like to abuse or take advantage of any friend old or new. Perhaps it's ok for you to do so Grandad I don't know, nevertheless I finally decided I had to on this occasion when I suddenly remembered him as a result of finding this forum.

Finally I'm very grateful to "moneysavingexperts" having been there at the right moment and everyone else who chipped in with some very helpful and constructive advice, as the way ahead is now clear at last.

Again many thanks to all....

Best wishes

____________

Oh yes nearly forgot. In passing and subjectively speaking I suggest Grandad you get that deeply ingrained chip off your shoulder, it's certainly nothing to be proud of as we all have our faults.

Or are you the exception….?

Sorry OP but your making such a big deal out of something which you can easily sort out yourself very quickly........and are you really still paying for this as a starter just cancel the DD or SO

Brie

As someone with a literary background I would assume you are good with words and can therefore write a letter in a coherent fashion. 

So write to the address on the HSBC website stating "SAR REQUEST" and "COMPLAINT" at the beginning.  State in very blunt point form - on or about this year I agreed to a loan with Midland for X, I started paying X a month and then on X date I got a letter from HSBC stating XYZ. 

Say that you feel this has gone on much too long and want it resolved.  Give them a couple of weeks to give you a very blonde response and then another couple of weeks to come back with a specific response.  

Post it.  Don't email.  And don't bother to ring them.

Your accountant friend need not be involved unless they come back with any complicated math on why they think you still owe any ££ after 2+ decades.  In fact even if they do if you post back here any number of us will be more than happy to check their figures for you.

Thrugelmir

Ask your accountant friend to assist you. As what's missing from the post is your management of the loan account. Flexi loan sounds akin to an overdraft account. What you've spent and repaid is what matters. The take over of the Midland Bank is irrelevant. The fact that the account was changed to monthly interest is irrelevant. The fact you spent the money and were unable to travel to Stockholm is irrelevant. 

I'm sure your friend will clearly explain to you why the account still exists to this very day. 

penners324

How are the payments going to HSBC? Direct debit or standing order?

GrumpyDil

penners324 said:

How are the payments going to HSBC? Direct debit or standing order?

Been asked before but no update yet. 

From recollection the flexi loan account was exactly that. You were given a maximum credit facility and could borrow up to that amount.

Payments were based on the amount outstanding and were taken monthly, in my case by direct debit. 

I'm beginning to wonder if OP has been spending from the flex account and the payments have been continuing in relation to the flex account because of that. 

HobgoblinBT

This is from memory, so some of it may not be 100% accurate.  I retired from banking a couple of years ago so can’t access current product information.

The accounts referred to by the OP under Midland were called Save and Borrow accounts.  It was a loan account with a cheque book.  The accounts were opened on the computer with a product code that determined the account type in the bank’s systems, from which several features were automatically derived, including the code that set the interest rate.

I think that the original account had a limit of 30 times the proposed monthly payment.  The original repayment may have been by monthly standing order so it was possible that some customers saved, hence the account being called Save and Borrow.  Repayments later changed to an automated system, only taking payments when there was a debit balance, so there was no save option, which I suspect coincided with the change of name from save and borrow account to flexiloan.

  When HSBC took over Midland in the early 1990s, there were few if any changes to terms and conditions other than regulatory changes such as the change of name of the Bank.  At some stage interest was changed on most Midland/HSBC accounts from quarterly to monthly.  Customers were sent out leaflets explaining any changes appropriate to their accounts.  

Statements were regularly issued, probably quarterly initially, though I suspect these may have changed to monthly for regulatory reasons when interest charges changed to monthly, so as customers could keep a track of interest charged.

Did the OP withdraw any funds from the account following the initial drawing for the trip?  Internet Banking will give them access to the last 6 years statements, so the answer may be available to them prior to hearing back from the bank.

Hope this helps.