HSBC Defaults - AAARRRGH!!

[Paul.]

Re: HSBC Defaults - AAARRRGH!!

Dont get confused by the Default notice vs Default on the credit file

They arent the same thing, the notice is a statutory requirement for enforcement purposes whereas the credit file is a record of the way in which the account was conducted.

I think it may well be tricky to get these entries removed if im honest, especially if there are missed payments on the credit file.

However, i do believe that a creditor is supposed to give you advance warning of an intention to register a default. so that may assist if they never gave notice

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

I posted a thread about this recently and explained in detail the difference between s.87/88 requirements along with oft guidelines regards registering defaults with CRA's.

Hopefully someone will post the link (on fone so can't do it right now) but I also loaded the ico technical note on default regs which confirm the way banks should behave but basically if you miss one payment they can add a late entry. After 3 they can default/terminate the account.

Hoping someone remembers my post and links it here...?

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

Going back to post 1, HSBC are within their right to change their CRA data at any point to reflect the true status. They HAVE to default you within 6 months (the ico technical note) but not before one missed payment so you'll lose this fight.

Both myself and mfgboy have lost with the FOS on this point.

You would be bonkers to start legal action. The good f&f is enough to be satisfied with and walk away.

Read this and be shocked --> Niddy vs HSBC - allaboutFORUMS

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

Ok, so perhaps fighting them is a lost cause, so instead, we've sent Advanced SAR, and going the PPI route. He had two loans according to HSBC - both pre-2004 (that is when he was talked into going on this managed loan), and both of those had PPI (we were told this in-branch).

The question I cant seem to find an answer for though, in terms of how much to claim in PPI - do you just aim for what you have paid back, plus the 8% interest, or do you just wait for a reasonable offer of compensation?

I see people stating how much they got paid out, but no mention of how this figure was reached..?

Thanks

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

Premiums paid plus 8% interest.

We use repayment calculators. Di30 or Pompey are the guys to ask as they both use these tools

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

Excellent, thanks - will seek the calculator advise when the SAR has come through and we have filtered the relevant information Thanks again for all the help on this!

[Paul.]

Re: HSBC Defaults - AAARRRGH!!

Niddy

What about Sempra Metals???????? COMPOUND CONTRACTUAL INTEREST is a reciprocal right mate

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

Niddy

What about Sempra Metals???????? COMPOUND CONTRACTUAL INTEREST is a reciprocal right mate

Ooops (I did say to ask di30)

I add that in calcs mate as most common refund calcs include it within the breakdown.

Thanks for clarifying though. Very important point. (I should know)

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

I have just had Royal Mail on the phone - telling me that the SAR is being returned with error "Addressee Gone Away"..?

Do you know which address we should be sending it to?

We sent the SAR to:

HSBC Bank Plc
Service Quality Team
Arlington Business Centre
Millshaw Park Lane
LS11 0PP

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

Ok, seems I was ill-advised by the lady at Royal Mail - it is not in fact being sent back, they have moved offices and have a redirection set up, so it wont be getting delivered until tomorrow!

But having checked their website, I cannot find an updated address anywhere..!

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

I have just had Royal Mail on the phone - telling me that the SAR is being returned with error "Addressee Gone Away"..?

Do you know which address we should be sending it to?

We sent the SAR to:

HSBC Bank Plc
Service Quality Team
Arlington Business Centre
Millshaw Park Lane
LS11 0PP

That is the correct address for HSBC.... they do divert to Coventry usually. It'll be fine

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

Just a quick question with regards to claiming the PPI once the SAR is honoured.. Do we HAVE to fill out the PPI questionnaire, or can we just work out the PPI + interest and demand the payment as mis-sold PPI?

Thanks

[Never-In-Doubt]

Re: HSBC Defaults - AAARRRGH!!

claim the total, if they refuse or make an offer that's not acceptable then you go via FOS route - deal direct to start

[Shadow2981]

Re: HSBC Defaults - AAARRRGH!!

Total + interest? Or just exactly what was paid? Also... IF interest also, is that the 8% compound, or 24.9% in restitution?

Thanks

[diddlydee]

Re: HSBC Defaults - AAARRRGH!!

http://forums.all-about-debt.co.uk/s...7&postcount=20

Niddy gave the answer to this question in the post linked above, so I assume total plus interest is your "total" figure.

I'll ask Di to pop by as she is online at the mo, and our resident expert in all things PPI ...