Hsbc

me123

Hello all,

I joined here aaggees ago and more a lurker at the moment, so hello!

A bit of advice/thoughts please.
I rang HSBC to inform them that my circumstances have changed (i no longer work as I stay at home to look after my son) and that I wont be able to pay as much for my personal loan as we only have 1 income.
The guy on the phone said that to help me I would have to pretty much miss a payment, then they day after it was due, ring them and I will be put through to the collections department who would help. How would they help? let me pay a reduced payment? They wont restructure my loan i.e. make it longer and less payments as I dont work! Dont know what to do now...

Thanks for reading!

Sarah

helena83

Ask if you can speak to the money management team. They seem to deal with people who are approaching financial difficulty and looked at reduced mortgage payments for me. I was also initially told they couldn't do anything until I was already in arrears but they took me through a budget plan etc and looked at different options. Worth a try maybe??

me123

Thanks for the replies

The money management team were the team I spoke to after speaking to customer services and they told me they couldnt help as I dont work. I explained that my partner works and we get tax credits and I have just applied for JSA etc but said I should contact the cccs. I want to pay them and can but just not the amount they want! They wont look at my loan terms as they said a loan application wont be accepted as I am not working. Maybe I should just miss a payment and then speak to collections to arrange something! Glad barclaycard werent this unhelpful, they accepted my lower payment straight away with no hassle!

yay-me

HSBC are a pain in the buttocks to me. My tax credits have been paid into my account every tuesday for the past six years so they know there is a regular income. However until I pulled my head out of the sand recently and set up a dmp I was generally going overdrawn every month, however not by more than £20.00, just because dd's would come out the day before the money went in or my shopping came to more than expected. I was never more than £50 overdrawn. Being a bank who loves to charge, they would either refuse a dd and charge me for refusing it or pay the dd and charge me for paying it. I was getting about £75.00 - £100 a month in charges, which would make me overdrawn..... a vicious circle that we all know about.

Several times I phoned them and asked for an overdraft of £50.00 (not a huge amount) just to be a buffer to stop the never ending circle of charges, I was however told that I would not be considered for an overdraft unless I could go at least 6 months without being overdrawn. To which I wondered why, if I could go 6 months without being overdrawn, would I need an overdraft.

So all in all they are a useless unhelpfull bank. I failed in getting over £3000 of charges refunded via the ombudsman.....guess why....because I hadnt gone overdrawn for a while, was running my account in good order and so therefore was not in financial difficulty....despite the £29000 dmp!!!!!!!

MrOrchard

What a pain! Sadly the onus is on you to ensure that there is credit in the bank for DDs and for your shopping spend - this isn't the banks resposibility. The simplest thing to do is to phone all of the DD holders and ask them to move the payment date, I'm shocked no-one at the bank told you this! Unfortunately the banks computer doesn't have a "common sense" mode and won't recognise your regular income on the same date.