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Advice regarding HSBC overdraft management ( please )
Sparqui
Posts: 2 Newbie
Hello to everyone.
Can i ask for some advice regarding my current situation with HSBC and am feeling a bit aggrieved and not thinking to clearly.
The broad strokes are:
I have a current account. In 2006 i had an overdraft limit of 1300 which due to unforeseen circumstances i neglected and incurred charges. I buried my head in the sand and ignored the bank for about 6 months. I finally got my act together and used a debt recovery company (as i had amounted a sizeable debt elsewhere also) and have made regular payments ever since. I had stopped using this account for any transactions and contacted HSBC on numerous occasions to ask fro this account the be closed so i can stop incurring charges and set up a payment plan to clear what i owed. The charges are mounting and i currently owe about 3600 ( 2300 of which are charges), i can only afford to pay 61 into this account each month but am being charged 58 each month in charges.
The issue is that HSBC wont put the account into a closed or default status because they tell me i am within my overdraft and the account is active. I investigated this and it appears that the bank have changed my overdraft every month to an amount just over what i owe ( plus any new charges). I have never received and information about a change to my overdraft, the bank are (seemingly) doing this at their leisure.
Now i dont want to come across as crafty here and am not looking to have the bank forget what is outstanding, its my debt and i am responsible. I understand that i should have been more sensible and looked after my account with more care, I am looking for a way to get them to agree to a payment plan and freeze interest to give me fighting chance. Is there something i can do to contest this overdraft activity so that i can finally get around to paying it off?
I have spent many an hour on the phone trying to solve this and many many an appointment in branch, both seem to indicate the other is responsible for helping - I am getting nowhere near a solution, but frustrated along the way.
Any advice will be gratefully received.
Thank you in advance
Can i ask for some advice regarding my current situation with HSBC and am feeling a bit aggrieved and not thinking to clearly.
The broad strokes are:
I have a current account. In 2006 i had an overdraft limit of 1300 which due to unforeseen circumstances i neglected and incurred charges. I buried my head in the sand and ignored the bank for about 6 months. I finally got my act together and used a debt recovery company (as i had amounted a sizeable debt elsewhere also) and have made regular payments ever since. I had stopped using this account for any transactions and contacted HSBC on numerous occasions to ask fro this account the be closed so i can stop incurring charges and set up a payment plan to clear what i owed. The charges are mounting and i currently owe about 3600 ( 2300 of which are charges), i can only afford to pay 61 into this account each month but am being charged 58 each month in charges.
The issue is that HSBC wont put the account into a closed or default status because they tell me i am within my overdraft and the account is active. I investigated this and it appears that the bank have changed my overdraft every month to an amount just over what i owe ( plus any new charges). I have never received and information about a change to my overdraft, the bank are (seemingly) doing this at their leisure.
Now i dont want to come across as crafty here and am not looking to have the bank forget what is outstanding, its my debt and i am responsible. I understand that i should have been more sensible and looked after my account with more care, I am looking for a way to get them to agree to a payment plan and freeze interest to give me fighting chance. Is there something i can do to contest this overdraft activity so that i can finally get around to paying it off?
I have spent many an hour on the phone trying to solve this and many many an appointment in branch, both seem to indicate the other is responsible for helping - I am getting nowhere near a solution, but frustrated along the way.
Any advice will be gratefully received.
Thank you in advance
0
Comments
-
Do you still use the account?0
-
Hi there,
Thanks for looking - No i don't use it for anything, I pay the 61 in each month and that's it.
Regards
Mark0
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