HSBC Account

SpeedDemon

Whilst i was a student i was a bit naughty and opened 2 student account, 1 with Barclays and the other with HSBC. My Barclays account was one I had for a long time which was converted to a student account once i went to university. The HSBC one i opened whilst on campus.

During my last 2 years at university i got into a bit of financial difficuly with my student load just about covering rent, food etc so i began to fall deep into my HSBC overdraft by using my cheque book and cheque garuntee card. I tried to have my overdraft extended once i had come close to it but they declined, despite this i was still using my cheque garuntee card to pay for items.

As i constantly went way over my overdraft (by a few hundered pounds) the bank sent me letters to rectify the situation. It got to a stage where they used a agency to contact me at my then part time work place to demand i take my debit card and cheque book to my nearest branch ASAP. One this was done the bank closed my account and sent the amount i owed to a debt collecting agency.

This has since been cleared about 12 months or so ago, however i still have a black mark on my credit rating which will be there for 6 years or so.

I am in a position to buy a property now due to having a healty deposit, however i feel this past will cause a problem for me in obtaining a good interest rate and i maybe forced to have a much higher rate.

How can i ensure HSBC remove this black mark and what are my chances. Any help would be apprecaited.

456789

I don't see why they would want to remove it - I don't think you have any chance but thats just my opinion

Though you are allowed to add notes to your credit files you could try that to explain?

Obukit

It's unlikely they will remove it because this is the whole point of credit histories - people who have managed credit poorly in the past are more of a risk to a lender which is why you will be charged more interest or declined a loan. Of course people change, and this is why more recent defaults have more weight and why, after six years, defaults drop off your history.

Sorry if that's not the answer you were looking but if there were no consequences to defaulting or breaking credit agreements we'd all be doing it.

Scousebird_2

If the debt was passed to Metropolitan Collections then there is no way they will remove the data from your credit file until the 6yrs have passed I'm afraid and therefore you may find that your Mortgage application shows as Adverse Credit and may be refused unfortunately-but you can try Mortgage Lenders who specialise in Mortgages for people with CCJ's and Credit Issues.