HSBC loan: can never get statement/breakdown

Kate73

Hi, This is my first time using a thread so bear with me!!
I am really concerned about my boyfriend's situation with HSBC. nearly 2 years ago his dad died and just after (horrible coincidence) they called him in to consolidate his overdraft and credit cards - maybe totalling £3000. To cut a long story short later on they wanted this paid off and said his total owing was £10,000. At no point have they responded to his request for a breakdown of how it reached that amount - interest, charges etc. I am concerned that alot of it falls under the unlawful charges banner...but they just won't send him a breakdown of the amount! They just keep demanding payment! Can anyone help with any advise or strategies?
thank you very much if you have taken the time to read this
Kate

Rafter

Kate,

Sounds like a horrible consolidation loan with up front payment protection.

Does he remember this - was it explained to him? Is he self employed? Could he have claimed if he was made unemployed or was unwell? Depending on the answers the insurance could have been missold.

I suggest you download a template letter from this site to request under the data protection act a full breakdown of the account, interest, charges and insurance as I'm sure there are some nasties in there they don't want you to know about.

Suggest you then post back for advice about the answer.

From your post it is hard to tell whether your b/f was co-erced into taking on his fathers debts. Similarly if HSBC have offered the loan and then demand full payment having charged you £'000s for insurance and charges, they are heading for a major complaint.

Good luck.

R.

Kate73

Dear Rafter,
Your reply made tears come to my eyes......thank you so much for your clear advice. It's so hard to know where to start and you have made it accessible. Sadly, he does not remember any details of the time, he was deep in shock, which makes it so scandalous that they pursued him at the time; I am sure they acted inappropriately and possibly unlawfully. thank you very much again, I hope, wherever you are, that the sun is shining and you have a good day.
Blessings, Kate

Rafter

Kate,

Glad I could help.

I really think you should both go to citizens advice and see what they advise.

Tackling this in the right way, I really hope you can get most of this outrageous demand reduced and can move on with your lives with a manageable amount of debt.

Good luck.

R.