Extending the term of a loan

orange-sox

Figured this would be the best place to put this...

I'm due to start university in September and amongst my poorly finances I have a loan with HSBC on fixed repayments, whilst they aren't crippling, it's a commitment I would prefer to reduce. I wish I could simply pick up a part time jobs to cover my expenses, however I am doing a Nursing degree which requires me to spend over half of my course out on placements of varying shifts therefore making me an unreliable part time worker.

I understand that it will of course mean that I end up repayment more to those rascals, but I am hoping that when I can pick up agency/bank work I will be able to make some additional payments and thus balance it out over the years...

Has anyone had any luck with extending the term of a loan with HSBC? Or can anyone give me any advice regarding this.

Thanks in advance

[Deleted User]

the best advice is pick up the phone in the morning and ask them,the worst they can say is NO
have you considered something like avon or betterware etc to earn a few quid which will fit round your studying?

dresdendave

Can't give you any definitive answer but I would recommend going to a branch and explain your circumstances to an advisor face to face rather than trying something online or over the phone.

And as a tongue in cheek afterthought...were they "rascals" when they agreed to lend you the money, or only now that it's difficult paying them back?

orange-sox

Ah well dresdendave, like I said it's not that it's a major problem paying them back, I just think it would be sensible to prevent myself from potentially missing any payments, having to borrow any more etc etc.

HSBC became rascals when I let them know I'd be changing jobs so needed to change DD and SO dates to suit pay day, they didn't change half of them and I ended up being stung £125 in unauthorised overdraft charges two months running ;-) so no I'm not biting the hand that feeds as it were, simply recognising that they've screwed me more than once in the past, so I'd better err on the side of caution in the future!

CLAPTON

orange-sox wrote: »

Ah well dresdendave, like I said it's not that it's a major problem paying them back, I just think it would be sensible to prevent myself from potentially missing any payments, having to borrow any more etc etc.

HSBC became rascals when I let them know I'd be changing jobs so needed to change DD and SO dates to suit pay day, they didn't change half of them and I ended up being stung £125 in unauthorised overdraft charges two months running ;-) so no I'm not biting the hand that feeds as it were, simply recognising that they've screwed me more than once in the past, so I'd better err on the side of caution in the future!

curious.....

surely it's the people who you have agreed to pay by DD that need to agree and change the DD pay date and not HSBC?

and SO dates can be changed by you online ... once you a have the agreement of the suppliers/creditors

orange-sox

CLAPTON wrote: »

surely it's the people who you have agreed to pay by DD that need to agree and change the DD pay date and not HSBC?

The company whom I had agreed to pay was in fact HSBC - Loan and Credit Card for your information.

CLAPTON wrote: »

and SO dates can be changed by you online ... once you a have the agreement of the suppliers/creditors

Yes it would be fantastic to be able to change my SO dates online, if it weren't for the fact that at the time I couldn't keep up with any of my payments (hence getting a better paid 60+ hour a week job) and therefore had had my broadband cut off.

Actually, I'm not sure why I'm even bothering explaining myself - I came on here to see if anyone else had been in a similar situation, and what the outcome had been simply because I need to book time off for an appointment at the bank (annual leave requires 2 weeks notice). I'm not quite sure what it is about my post that has caused such responses, but I'll make sure not step foot into an area where I am not a regular poster again.

CLAPTON

I was trying to understand your situation a little better, as providing advice is generally best done with full info.
Bothering to explain yourself is generally a good thing and indeed the situation does seem somewhat more complicated that your first posting.
Best not to be too sensitive when people are genuinely trying to help.

dresdendave

orange-sox wrote: »

The company whom I had agreed to pay was in fact HSBC - Loan and Credit Card for your information.



Yes it would be fantastic to be able to change my SO dates online, if it weren't for the fact that at the time I couldn't keep up with any of my payments (hence getting a better paid 60+ hour a week job) and therefore had had my broadband cut off.

Actually, I'm not sure why I'm even bothering explaining myself - I came on here to see if anyone else had been in a similar situation, and what the outcome had been simply because I need to book time off for an appointment at the bank (annual leave requires 2 weeks notice). I'm not quite sure what it is about my post that has caused such responses, but I'll make sure not step foot into an area where I am not a regular poster again.

Sorry you feel that people have made you feel unwelcome but people are genuinely trying to help you. Remember posters can only work with the information that they are given. The poster who informed you SO dates can be changed online did so thinking perhaps you weren't aware of this. They could hardly be expected to know that your broadband had been cut off at the time.

My own suggestion that you should visit a branch for a face to face chat was a valid one as I from my own experience I have found you get a more humane response when you explain your circumstances in this manner. Was I supposed to know that your work situation makes an appointment of this nature inconvenient?