Question around HSBC arrears

User-name-in-use

Hi everyone,

Had a letter through the post yesterday informing me that I have not made my personal loan payment which was due on the 1st.

I was very surprised to get this letter as the payment was sent electronically from my day-to-day bank account to the HSBC account on which the payment comes from.

Having looked into it a bit further it appears that my payment was made on the 24th Feb but did not go via FasterPayment - just standard BACS which takes 3-4 working days.

Now, I have rang the automated payment line for the HSBC bank account which the loan payment comes from and get the following message:

"Account in arrears by £147.32p and expected payment due on 1st April is £147.32p"

The letter states that the payment will be requested again 14 days after your standard payment due date and to make sure that there are sufficient cleared funds in the account.

Does the message I have recieved on the telephone banking re the expected payment due on 1st April mean that the arrears has been sorted today and that normal monthly payment will be taken on 1st April as I would have thought it would have included the missed payment from the 1st of this month if not?

Sorry if that sounds a bit confusing - just a bit muddled as I knew I'd sent the payment but obviously forgot to figure in that Feb is a short month! :embarasse

Any advice would be appreciated!

Dabooka

Hate to sound obvious, but have you actually called them and asked?

User-name-in-use

Dabooka wrote: »

Hate to sound obvious, but have you actually called them and asked?

I'll not bore you with the ins and outs but in answer to your question, the account isnt in my name so they wouldnt talk to me if I rang up about it.

CLAPTON

was this paid by DD or simply by you sending the money by BACS

User-name-in-use

CLAPTON wrote: »

was this paid by DD or simply by you sending the money by BACS

Money was sent using BACS as salary payment days fluctuate month on month its "easier" to send a BACS payment.

CHR15

User-name-in-use wrote: »

Money was sent using BACS as salary payment days fluctuate month on month its "easier" to send a BACS payment.

So whats the problem?

If you are sending the payment by BACS you already know there is a delay(so ensure you pay in plenty of time).

If you are sure you have already made this payment, ring them and find out where it has gone (I assume you can see the outward payment on your bank statement)

User-name-in-use

CHR15 wrote: »

So whats the problem?

If you are sending the payment by BACS you already know there is a delay(so ensure you pay in plenty of time).

If you are sure you have already made this payment, ring them and find out where it has gone (I assume you can see the outward payment on your bank statement)

Outward payment is there.

Was just hoping someone could clarify the automated payment line arrears/amount owed issue really.

User-name-in-use

Well, rang the automated payment line and its still saying the account is in arrears by £147.32p and expected payment due on 1st April is £147.32p.

Surely if there was still arrears on the account the expected payment due on 1st April would be £294.64??

CHR15

A double payment wouldn't cover the late fees and charges.
You need to speak to an advisor. A late payment should be easy enough to recover from. A missed payment could lead to all sorts of nonsense.

User-name-in-use

CHR15 wrote: »

A double payment wouldn't cover the late fees and charges.
You need to speak to an advisor. A late payment should be easy enough to recover from. A missed payment could lead to all sorts of nonsense.

But the loan payment was made to the account so the money should be there for them to take?

climbgirl

It may have gone missing or be delayed. You won't know until you call them and actually speak to someone, not the automated line.