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Messed around by HSBC - what should i do?
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Hi all,
I'm very annoyed at the moment with HSBC. On around the 5th of February I was called by their loans department and asked to make and arrangement to clear off some arrears I had (3 missed payments due to a period of financial difficulty which I am luckily now getting out of). I did this and then asked that the payment date on the direct debit be changed from the 3rd of the month to the 28th, which would mean that instead of paying £670.92 quickly followed by the normal payment of £223.64 a few days later, I would have almost a month to regroup my finances (and another months pay packet) before my next payment due date.
"No problem, i'll get that changed for you" came the reply.
The call finished but then I was quickly called back by the operative who told me "I'm really sorry but I can't change the direct debit date for you - you'll have to call the main number back and they can do it for you".
As i'm quite busy in my job I didn't have time to do this straight away, but the next day I rang them back and asked for the payment date to be changed. I was then told that the payment date on the personal loan had already been changed to the 28th, and that I didn't need to do anything. Odd, i thought, but 'oh well, no need to worry then'.
So March rolls around and a long-awaited wage slip cashes itself all over my bank account, bills get paid off and everything is looking good once more. However, on the 3rd of March (the old bill payment date), my personal loan pulls its payment of £223.64 out of my account leaving me with NO MONEY, 5 days after payday
.
I call HSBC instantly (luckily it was a day off i'd booked to relax - !!) and spent 3 hours going around different departments trying to get the matter resolved, and was eventually given my £223.64 back, told that I should have been told:
So I thought nothing more of the matter - everything appeared to have been resolved and things would fix themselves. However, tonight, the saga took a turn for the worse.
I recieved a phone call from an operative regarding my "missed" payment for March. I explained to her that i'd made an arrangement to pay this on the 28th of the month, and that if she checked her records she'd see everything was planned and fine.
She found the payment record on the 28th, but then told me that the direct debit was still due to go out on the 3rd of April. Nothing had changed, and there was a note on the system saying that apparently the scottish operative mentioned above had tried to change the payment date for me but the system wouldn't let her at that time.
She then tried to make me take some sort of HP (not sure if that's correct) Plan, which would put the 'arrear' at the back of my loan meaning i'd pay that on completion of the rest of the loan. Thing is though, this 'arrear' is not my fault. I've been misinformed but i'm not about to lose £223.64 over it.
I was then told that the bill payment she had found on my account for the 28th of the month was a monthly reoccouring payment, and that this was for the amount my loan payments were for. Sorry if this is getting confusing, it's a confusing issue! She then told me that she couldn't cancel the direct debit as she didn't have the authority to, and that the only way to change the direct debit details would be:
:question: I'm going to take an extended lunch tomorrow at work and try to resolve this in branch. I was just wondering if anyone can offer some tips and pointers of what I should ask for really, as at the moment i'm concious of the fact that there is still a "missed" payment on the account due to the banks misinformation.
Many thanks,
Mark.
I'm very annoyed at the moment with HSBC. On around the 5th of February I was called by their loans department and asked to make and arrangement to clear off some arrears I had (3 missed payments due to a period of financial difficulty which I am luckily now getting out of). I did this and then asked that the payment date on the direct debit be changed from the 3rd of the month to the 28th, which would mean that instead of paying £670.92 quickly followed by the normal payment of £223.64 a few days later, I would have almost a month to regroup my finances (and another months pay packet) before my next payment due date.
"No problem, i'll get that changed for you" came the reply.
The call finished but then I was quickly called back by the operative who told me "I'm really sorry but I can't change the direct debit date for you - you'll have to call the main number back and they can do it for you".
As i'm quite busy in my job I didn't have time to do this straight away, but the next day I rang them back and asked for the payment date to be changed. I was then told that the payment date on the personal loan had already been changed to the 28th, and that I didn't need to do anything. Odd, i thought, but 'oh well, no need to worry then'.
So March rolls around and a long-awaited wage slip cashes itself all over my bank account, bills get paid off and everything is looking good once more. However, on the 3rd of March (the old bill payment date), my personal loan pulls its payment of £223.64 out of my account leaving me with NO MONEY, 5 days after payday
.I call HSBC instantly (luckily it was a day off i'd booked to relax - !!) and spent 3 hours going around different departments trying to get the matter resolved, and was eventually given my £223.64 back, told that I should have been told:
- Tall Tale part 1: That to change the payment date takes one complete cycle, and that due to this, I would have to wait for the april payment for things to change.
So I thought nothing more of the matter - everything appeared to have been resolved and things would fix themselves. However, tonight, the saga took a turn for the worse.
I recieved a phone call from an operative regarding my "missed" payment for March. I explained to her that i'd made an arrangement to pay this on the 28th of the month, and that if she checked her records she'd see everything was planned and fine.
She found the payment record on the 28th, but then told me that the direct debit was still due to go out on the 3rd of April. Nothing had changed, and there was a note on the system saying that apparently the scottish operative mentioned above had tried to change the payment date for me but the system wouldn't let her at that time.
She then tried to make me take some sort of HP (not sure if that's correct) Plan, which would put the 'arrear' at the back of my loan meaning i'd pay that on completion of the rest of the loan. Thing is though, this 'arrear' is not my fault. I've been misinformed but i'm not about to lose £223.64 over it.
I was then told that the bill payment she had found on my account for the 28th of the month was a monthly reoccouring payment, and that this was for the amount my loan payments were for. Sorry if this is getting confusing, it's a confusing issue! She then told me that she couldn't cancel the direct debit as she didn't have the authority to, and that the only way to change the direct debit details would be:
- Tall Tale part 2: Go into the branch and give good reason why the change should be made. This was apparently 'the only way' to change things.
:question: I'm going to take an extended lunch tomorrow at work and try to resolve this in branch. I was just wondering if anyone can offer some tips and pointers of what I should ask for really, as at the moment i'm concious of the fact that there is still a "missed" payment on the account due to the banks misinformation.
Many thanks,
Mark.
0
Comments
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Hi
Changing payments date affect your loan as you accure interest daily on the account-although this does tend to even out at the end of the agreement, you just pay extra interest as your schedule to pay is extended by extra time.
The arrears on the account unfortunately cannot be disputed and that will be added to the end of your loan. by the of it you need to check the D/D arrangements once and for all.
If they have done it right this time then your loan will leave on the 28th as a Direct Debit payment right?-check to see if that has been amended, if not you will HAVE to pay them on 3rd April at the latest, otherwise you miss another payment.
And you need to get the branch to agree to change your D/D date!
You have cancelled the bill payment so the funds will not be received obviously, but you need to make the payment to avoid your arrears being extended
You need to get the branch to change your repayment date (which will affect the loan at the end) If they agree then with effect from 04/05/2008 (as you will have to wait another cycle now if the d/d mandate change has not been actioned)-but you are going to have to make your normal loan repayment on the 28/03/2008 to avoid arrears-make sense??
The key here is the d/d date. Once you have confirmation of that, you can deal with the arrears as a separate issue-well, let's face it...you will get a phone call for that to balance your account again!
It looks like someone has just tried and the system has told them to go away-I have worked for 2 major banks and it is annoying when you are trying the help the customer but a piece of software thinks it knows better!
Just go in branch, be nice and explain calmly, the staff are there to help at the end of that day, because they want your repayment as much as you want to give it so see how you get on.
Good luck!Loan-£3600 only 24 months of payments to go!!!
All debt consolodated and cards destroyed!!
As D'Ream would sing 'Things.....can only get better'!!!0
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