Compensation amount

Marty_NUFC

Hi all,

Apologies this may be in the incorrect place but I've recently been having an issue with a consolidation loan I'd taken out where the company completing the loan have paid a different company instead of HSBC.

Well they actually paid HSBC correctly first time round however they rejected that payment due the amount being different (higher) than the remaining loan but that's kind of by the by.

The company then got that money back and were going to resend it however inexplicably they sent it to a completely different loans company (Tandem) 

They've now admitted that this was their fault after I've spent 2 weeks, 5 phone calls to them and 2 to HSBC and in that time I've been promised a call back once which which never materialised and they initially extensively told me it was HSBC's fault and that I should raise a complaint with them.

So to get to the point here they've said they've messed up and that it was nothing I've done and it's also delayed the consolidation finishing by 3 weeks currently which means I'm going to have to stump up another HSBC loan payment come Monday until this mess is resolved.

So what amount do you think I should request in compensation as without me mentioning it they've said they are open to discuss a figure with me.

Thanks,
Martin

cymruchris

Marty_NUFC said:

Hi all,

Apologies this may be in the incorrect place but I've recently been having an issue with a consolidation loan I'd taken out where the company completing the loan have paid a different company instead of HSBC.

Well they actually paid HSBC correctly first time round however they rejected that payment due the amount being different (higher) than the remaining loan but that's kind of by the by.

The company then got that money back and were going to resend it however inexplicably they sent it to a completely different loans company (Tandem) 

They've now admitted that this was their fault after I've spent 2 weeks, 5 phone calls to them and 2 to HSBC and in that time I've been promised a call back once which which never materialised and they initially extensively told me it was HSBC's fault and that I should raise a complaint with them.

So to get to the point here they've said they've messed up and that it was nothing I've done and it's also delayed the consolidation finishing by 3 weeks currently which means I'm going to have to stump up another HSBC loan payment come Monday until this mess is resolved.

So what amount do you think I should request in compensation as without me mentioning it they've said they are open to discuss a figure with me.

Thanks,
Martin

Whatever your quantifiable losses are - so the amount overall you'll have paid including interest minus what should have been paid if on time including interest (So in effect the additional interest you've had to pay as a result of the delay) - plus a small token gesture amount for the inconvenience and frustration of making multiple phone calls to resolve the problem. Possibly something like £50/£100.

Marty_NUFC

cymruchris said:

Marty_NUFC said:

Hi all,

Apologies this may be in the incorrect place but I've recently been having an issue with a consolidation loan I'd taken out where the company completing the loan have paid a different company instead of HSBC.

Well they actually paid HSBC correctly first time round however they rejected that payment due the amount being different (higher) than the remaining loan but that's kind of by the by.

The company then got that money back and were going to resend it however inexplicably they sent it to a completely different loans company (Tandem) 

They've now admitted that this was their fault after I've spent 2 weeks, 5 phone calls to them and 2 to HSBC and in that time I've been promised a call back once which which never materialised and they initially extensively told me it was HSBC's fault and that I should raise a complaint with them.

So to get to the point here they've said they've messed up and that it was nothing I've done and it's also delayed the consolidation finishing by 3 weeks currently which means I'm going to have to stump up another HSBC loan payment come Monday until this mess is resolved.

So what amount do you think I should request in compensation as without me mentioning it they've said they are open to discuss a figure with me.

Thanks,
Martin

Whatever your quantifiable losses are - so the amount overall you'll have paid including interest minus what should have been paid if on time including interest (So in effect the additional interest you've had to pay as a result of the delay) - plus a small token gesture amount for the inconvenience and frustration of making multiple phone calls to resolve the problem. Possibly something like £50/£100.

Thank you Chris that seems like a reasonable amount, I just wasn't sure with them bringing it up and leaving it so open.

I will need to quantify a figure for the extra interest as best I can and then will look to add £100 to that as I feel they really made me do all the running around when it was their mess.