HFC

[The Judge]

Hi

Have had a long standing saga with HFC GM card that after nearly three years they have
agreed to compensate, Over three months has gone by and am still to receive any
reconciliation of compensation. Is this a usual time period or is there a way to chase.
I hastily add I am in not financially dependent on a quick solution but would just like
closure. I have attempted to work out a figure however not sure whether to use simple
or compound interest as there seems to be conflicting views....it would certainly
be preferable if compound!!

If anyone has had any dealings with HFC your views would be appreciated.

Thanks.

[nemesis45]

Re: HFC

Hi,
3 months is a little tardy and a " polite" reminder is in order.
8% simple interest I think is normal.

[The Judge]

Re: HFC

Thanks for quick response, will push FOS

[The Judge]

Re: HFC

Hi,
3 months is a little tardy and a " polite" reminder is in order.
8% simple interest I think is normal.

Hi. Had a response with a settlement figure that seemed generous although have requested
they supply details of final figure ie PPI payments , compound and simple interest plus start
date. Hopefully you can assist on two questions:

Is it only the simple or both simple and compound that have to be declared for tax?

I had the card for 9 years but after 5 years the card number changed and the new one
is the one quoted in all correspondence. Would the old one be a separate claim?

As ever your comments are always appreciated.

[nemesis45]

Re: HFC

I'm not sure but I think the compound is taxable.
Presumably the new numbered card would have just carried
on with the same account, but I think you definitely need to
check it out.

I'll see if we can find a PPI "expert" to help.

nem

[EXC]

Re: HFC

Is it only the simple or both simple and compound that have to be declared for tax?

I've not read it but see here
http://www.hmrc.gov.uk/manuals/saimmanual/SAIM2105.htm

http://www.moneysavingexpert.com/new...obably-owe-tax

[The Judge]

Re: HFC

I've not read it but see here
http://www.hmrc.gov.uk/manuals/saimmanual/SAIM2105.htm

http://www.moneysavingexpert.com/new...obably-owe-tax

Thanks that's very helpful. Wise to check whether they have taxed at source.
Keep up the good work.

[The Judge]

Re: HFC

Hi

After two months am still awaiting response from HSBC on how they have reached their calculations for compensation
on an old credit card

As I have retained most of paper work would like to attempt to work out the amount I believe is due.
Can an 'idiot' guide or spread sheet be posted up? Due to amount offered it has be both compound and
simple interest.

As ever help greatly appreciated.