HBC using right to set off

fluffykittens

I have a credit card with HSBC which has fallen badly into arrears, I was silly and buried my head under the sand, now they are using their right to set off and pulling the money out of my current acct to pay it off. Im scared on pay day they will pull the whole amount and then Ill have council tax, mortgage arrears.

I will have to ring them tomorrow as it stated in the letter to call them to "arrange a mutually acceptable re payment plan"

I can only really afford 50 quid a month, what should I say and what will they expect?

Im more than willing to pay a little more on the months I have more, or will they want a set amount everymonth? however in the next few days im having some money transferred into my account, which is being done fro a old family member who has no bank account, so I need for them not to use that!

What should I do and say and offer?

Cheers

beanielou

You can only offer them what you can afford & see what they say.
Can you not have the money from the family member transferred in to another account?

fluffykittens

As Im aware the transfer is already in process. I do not really want my family to know my situation they would only worry

skintandscared_2

How about opening another basic bank account and transferring the money to there?

fizz190

If you call them and make them an offer they may well leave the money alone. Explain the situation and they might be understanding. I have found that communicating is the best way to get them off your back!

In the meantime, open a basic bank account asap and get all the details transferred over. I have 2 at the moment - one with Halifax and one with Lloyds TSB. If I remember correctly, Lloyds were able to set mine up and give me ac details on the day (I was in a similar hurry) so at least you can get your wages transferred. First thing to do tomorrow is to find out when your company's payroll cut off is - the last day to submit changes to payroll info and try to get something done by then.

Good luck
Fizz