claiming back charges under financial hardship

[tessy1]

I wish to claim back my charges from hsbc under the Financial hardship. Do i claim back the actual amount or will i add interest and at what rate. I have found a spreadsheet which allows me to add interest at 29.9 % which is mostly used in calculating credit cards charges, can i use this same spreadsheet. Thank you and will appreciate your prompt reply.

[Amethyst]

Re: claiming back charges under financial hardship

Have you been through the formal complaints process with HSBC already ? When were the charges imposed and over what kind of period ? Had you notified HSBC that you were in financial difficulty ?

[tessy1]

Re: claiming back charges under financial hardship

Yes I wrote a letter to hsbc around jan using the credit card charges templates and I got a letter from hsbc requesting that I should send in income and expenditure if I wish to claim under financial hardship. When I realised the mistake, I decide to use the template for financial hardship this time and start all over again.

Back to my previous question ....
can I add use the spread that adds interests at 29.9 or should I just ask for the actual amount owed to me.

[Amethyst]

Re: claiming back charges under financial hardship

That's up to you if you wish to argue for contractual interest or simple interest. Personally on a claim for bank charges imposed in financial hardship I'd claim the actual charge, and interest and charges imposed directly atrributable to that charge, and statutory interest at 8% pa from the date of each charge to date.

Where did you get the 29.9% figure from, is that the rate you are charged for an unauthorised or authorised overdraft ?

[tessy1]

Re: claiming back charges under financial hardship

Can I use the below spread sheet which cal in 24.9 %. Should I just add the 8% to the space of 24.9 % ? Thank you