Jester Vs First Direct - OFFER Accepted :)

[Amethyst]

Re: Jester Vs First Direct

Sounds positive and ace re the job well done hope it comes off for you xxx


Jest babe I have been so busy lately i havent had a chance to get the all monies stuff together for the journalists. Sorry sorry sorry.

You fancy putting something together ? Then if PSNE doesnt take up on it we can have a go at the Mail and others see if we can get some publicity going on this ****ty clause.


Thankyou for doing the RBS thing - made a lot more sense out of it....I have posted up one for the 15th if you fancy deciphering that too - is quite interesting !!! why would they brag about having a leaked copy of an EU Directive ? bizarre

[scoobydoo]

Re: Jester Vs First Direct

Fingers crossed for you Jester on all counts .


Sorry have not been on site much lately - but be assured I am still watching with interest.

Scooby

[Jester]

Re: Jester Vs First Direct

Quickie Update:

Just been on the phone with FD for over 30 mins (they left message on phone so I called them back). They just wanted to clarify a few things in regard to my mortgage arrears and the repossession order I am facing. Spent a long time talking to Mr Steve Smithard in Credit Services. He was actually very pleasant and helpful (and kept re-emphasising that my case is unique as it is the first of it's kind that they have dealt with under the new waiver financial hardship rules).

To cut a long story short. I have been assured by FD that they WILL be making me an offer. They know that my home depends on this and have assured that any offer they make will 'at least ensure that my home is not repossessed'. He elaborated to say that will certainly be high enough to ensure that ALL my mortgage arrears are met and so the repo order can be removed.

They have assured me that a decision will be with me before the end of next week and 'certainly before the deadlines set by RBS have been reached'.

So watch this space and I will let you know what they (FD/HSBC) offer and then what the next steps are.

BTW, he expressed amazement at how clued up I am at the OFT Test Case (including appeal dates etc) and asked where I was getting my information from. I simply told him that I have friends too

Cheers Everyone. Gonna eat my Spag Bol now

[Amethyst]

Re: Jester Vs First Direct

I have been assured by FD that they WILL be making me an offer. They know that my home depends on this and have assured that any offer they make will 'at least ensure that my home is not repossessed'. He elaborated to say that will certainly be high enough to ensure that ALL my mortgage arrears are met and so the repo order can be removed.

THAT IS BLOODY FABULOUS NEWS xxxxxxxxxxxxxxxxxxxxxx They better stick to it now !

Well done !

[TUTTSI]

Re: Jester Vs First Direct

Hi Jester

Thats sounds fab news... look forward to hearing when they settle and fab news about a possible 3 mth contract.

xxx

[scottishlass]

Re: Jester Vs First Direct

Brilliant news, wouldn't that be a great weight lifted from your shoulders.

SL xx

[Jester]

Re: Jester Vs First Direct

Sounds positive and ace re the job well done hope it comes off for you xxx


Jest babe I have been so busy lately i havent had a chance to get the all monies stuff together for the journalists. Sorry sorry sorry.

You fancy putting something together ? Then if PSNE doesnt take up on it we can have a go at the Mail and others see if we can get some publicity going on this ****ty clause.


Thankyou for doing the RBS thing - made a lot more sense out of it....I have posted up one for the 15th if you fancy deciphering that too - is quite interesting !!! why would they brag about having a leaked copy of an EU Directive ? bizarre

Sorry Ame. I missed this post by you somehow (Think I must be getting old and my eyes becoming dim ... and all that).

Anyway, yes I'll have a go at pulling all this together for the journalist. If I am honest, I already have a fair amount of it in the letter I originally drafted up to to my local MP (which I subsequently never sent). I'll see what I can do, but weekends are very busy for me for reasons which you already know.

I've downloaded the latest RBS documents to my PC and will have a look through that and see if there is anything new on there to what I commented against earlier this week.

BTW, I have a job interview on 3rd Sept !!

[scoobydoo]

Re: Jester Vs First Direct

Wel done Jester

Things still moving in the right direction.

Scooby

[TANZARELLI]

Re: Jester Vs First Direct

Great news re the offer well done and good luck with the job interview on the 3rd.

[Budgie]

Re: Jester Vs First Direct

Any news on the offer Jester ??????

[Jester]

Re: Jester Vs First Direct

Any news on the offer Jester ??????

Nothing yet. But the 10 days is not up yet !!

[scoobydoo]

Re: Jester Vs First Direct

Hope its good - I probably will find out next week as off to Devon for a few days.

Fingers crossed for you

scooby

[Jester]

Re: Jester Vs First Direct

Afternoon All,

I have now heard from First Direct in relation to my hardship claim. The letter I received from First Direct went as follows:

Dear Mr Jester,

I write further to my letter dated 14 August and our subsequent conversation in relation to your request for a refund of bank charges.

We do not agree that our charges are in any way unfair or unenforceable and you will be aware that these complex issues are subject to a current court hearing.

Having fully reviewed the figures discussed along with the content of your correspondence, it has been established that you are facing financial difficulties although we do not accept that the charges incurred are the cause of the financial hardship. However, we do sympathise with your current situation and are prepared, in an effort to provide assistance, to make a payment in the sum of £5,200.00 as detailed below.

Subject to receipt of your signed acceptance, the following action will be tkane:

• Refund historic charges amounting to £5,200.00 (five thousand two hundred pounds).

This refund will allow us to:-

• Forward a payment of £3,700.00 directly to First Active, in order to fully repay your mortgage arrears as at 31 August, and therefore alleviate the threat of your property re-possession on 23 September.
• Issue you with a cheque for £915.57, which will more than cover your element of the interest-only mortgage repayments for September and October.
• Make a payment of £584.43 to Metropolitan Collection Services to fully repay the outstanding debt remaining from when your first direct account was operational.

Your claim will remain on our register and the impact of any future decision made by the courts will take this refund into account
If you accept these proposals, please sign and return the enclosed acceptance form within ten working days from the date of this letter.


So good news in that they have made an offer which would help me keep my home. Only part that concerns me at the moment is that the sum offered is £5,200 when I calculate the charges alone to be £6767.17 without interest added (remember my total claim was for £8187, plus they then added further charges amounting to almost £900 AFTER I first started my claim in Feb 2007).

It is interesting to note in their letter that they recognise that if the courts rule against them then they will still be liable to pay the remaining outstanding amount I have claimed. Indeed, the letter almost gives one the impression that they are resigned to losing the OFT court case.

Before I respond to First Direct, I would like everyone else's opinion on whether I should accept this amount (bearing in mind the points above) or if I should hold out for more. Personally, I was expecting (hoping) that the minimum amount they would offer would be the charges without interest. I would happily have accepted that amount.

I appreciate that this payment will alleviate the problems over my house repossession and that it is a very good offer. I also appreciate that I will get back the further sum claimed if the OFT win out against the banks appeal (FD even acknowledge that). I simply do not want to sell myself short on this. I do really need this money to happen and what they are offering will help me out enormously.

Anyone have any further thoughts on this ?

Thanks to everyone for the help, encouragement and support on this matter. It's only a partial victory, but (as far as I am aware) it is the fiorst of this type against First Direct (HSBC).

Job interview tomorrow morning so that is why I have not been around the forum much of late.

Cheers,
Jester

[Sapphire]

Re: Jester Vs First Direct

Jester hun,

This is only MY opinion: If I were in the financial position that you find yourself in, I would be inclined to accept the offer as an interim payment. In my opinion knowing that my home was safe would be more than enough for me, and we must remember, that they have indicated it is only an interim payment havn't they.

I wonder what anyone else thinks.

And by the way well done hun (((((((((((Hugs))))))))))))

[Amethyst]

Re: Jester Vs First Direct

Accept if we're voting ? Accept Accept Accept

Thats fantastic news.....the rest is there for after the test case.


((((((((((((((((((hug)))))))))))))))))))))))))))



For info the acceptance form simply says

'' I accept the sum of £5,200.00 as outlined in the Bank's letter dated 29 August 2008. I understand that any further payment made in regard to my claim will be reduced by the sum agreed in this letter''