We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
HSBC...have they been naughty - Student Account Help
Sammiec0108
Posts: 39 Forumite
Hi all,
This is my first post, been reading the site/forums for a while and think it is finally time to do something proactive about my financial situation.
Firstly I do not have a good credit rating, my family moved house during my final year at university at which point i had a maxed out 1500 overdraft with a HSBC student account. I signed the change of address form on the same sheet of paper as both my parents and my brother, this was the last i heard of it, so presumed everything had gone through OK. This was in January of 2007. I graduated in July 2007 and returned to live with my parents at my new address. I started work in August 2007, the day after my first pay check, i got a letter from a debt collection agency on behalf of HSBC claiming the money back for the overdraft. I paid this immediately and being a little nieve i left it at that assuming the matter had been settled.
A few months ago I checked my credit rating on experian ahead of applying for a credit card, and saw i had been given a 'settled' default by HSBC regarding the account. :mad: This I realise is a bit of a disaster, and so i applied for a capital one credit card, as having no history of credit i didnt think i would be able to get any 'normal' card. This was approved and i have been making full monthly payments for 2 months.
My question is, are HSBC allowed to send a debt collection request without any prior notice/warning? We had a forwarding service set up for 1 year with the post office to forward all mail to our new address but I didnt ever recieve anything at all from HSBC, further to this, i didnt want to contact the bank and ask them about the account as i knew full well i had no means of paying the money back until i recieved that first pay cheque. I am confused as to how the debt collection letter arrived safe and sound but no other letters from HSBC made there way to me.
I know this was a long time ago, but if defaults stay on my credit rating for 6 years i think it is worth trying to see if there is a way of getting it removed, especially in view of the lack of warning/information i received from the bank.
Any help/advice would be greatly appreciated!
This is my first post, been reading the site/forums for a while and think it is finally time to do something proactive about my financial situation.
Firstly I do not have a good credit rating, my family moved house during my final year at university at which point i had a maxed out 1500 overdraft with a HSBC student account. I signed the change of address form on the same sheet of paper as both my parents and my brother, this was the last i heard of it, so presumed everything had gone through OK. This was in January of 2007. I graduated in July 2007 and returned to live with my parents at my new address. I started work in August 2007, the day after my first pay check, i got a letter from a debt collection agency on behalf of HSBC claiming the money back for the overdraft. I paid this immediately and being a little nieve i left it at that assuming the matter had been settled.
A few months ago I checked my credit rating on experian ahead of applying for a credit card, and saw i had been given a 'settled' default by HSBC regarding the account. :mad: This I realise is a bit of a disaster, and so i applied for a capital one credit card, as having no history of credit i didnt think i would be able to get any 'normal' card. This was approved and i have been making full monthly payments for 2 months.
My question is, are HSBC allowed to send a debt collection request without any prior notice/warning? We had a forwarding service set up for 1 year with the post office to forward all mail to our new address but I didnt ever recieve anything at all from HSBC, further to this, i didnt want to contact the bank and ask them about the account as i knew full well i had no means of paying the money back until i recieved that first pay cheque. I am confused as to how the debt collection letter arrived safe and sound but no other letters from HSBC made there way to me.
I know this was a long time ago, but if defaults stay on my credit rating for 6 years i think it is worth trying to see if there is a way of getting it removed, especially in view of the lack of warning/information i received from the bank.
Any help/advice would be greatly appreciated!
Newbie alert...please be gentle 
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards