Starting to Panic now ??

cado1

I am a newbie and have written to all of my CC companies to ask them to freeze interest & accept reduced payments I am in discussion with them.

I have my bank account with HSBC who I have a £ 8k loan with & £ 1300 o/d that I use every month and soemtimes go over.
I haven't written to HSBC yet as I have only today managed to get my new Natwest bank a/c details and I am to late to have my salary paid in to my new NW account this month but will be ok after that.

Last week a few D/D took my HSBC a/c o/d and they took all the money from my savings account to clear it about £ 250.00 that was due to my partner.

I will have to find a way of covering this but I am panicking that they will now take my whole salary on 24/9 and take away my o/d ???

I haven't missed any payments on my loan with them or anything like that but if the CC companies register a default does it alert any other financial institutions you are with ?

Any advice suggestions

KingElvis

Ask your company not to pay into that account.

Other options are getting paid by a one off cheque or even put it somebody elses account until your Natwest one is open.

I would imagine the risks of your entire salary being taken are low but banks do pull sneaky tricks so better safe than sorry.

cado1

I work for a big company and it's to late for them to change the payroll details this month and I they wouldn't do a cheque without a really good explanation as to why and I don't really want to reveal all to my employer !

Tixy

Are you still over your agreed od level?
If you are not behind with payments to the loan or card or over your OD level then they should not recall your OD without informing you in advance (I did say should mind not won't).

Whilst the chances of them taking it all are not that high it does happen. I know of someone who was panicking in a similar situation who stayed up the night his wages were paid in and as soon as they went in did a transfer from that account to a new one by internet banking. I don't know if this would work for all banks but it seemed to for his. I think the wages appeared in the account not long after midnight and he transferred it before anyone at the bank could manually process a recall of the wages.

Aside from that could you tell your work you would like a cheque as you think you have been a victim of identity theft so cannot use your old bank account?