HSBC horrendous service for people with financial difficulties

Garyn

Hi! This is my first post on here but wanted to here from others who have experienced terrible and unhelpful service from the HSBC and in particular their money management team.

Due to mental health problems a few years ago I got into a lot of debt and have since been working hard to pay of all my debts quickly. I was a stones throw away from bankruptcy but managed to cling on.

Along the way, there have been a couple of instances where I've needed a little "helping hand" from HSBC who hold my bank account and mortgage. On one occasion we needed to secure a certain mortgage rate so that we could continue to afford the repayments, but couldn't afford the booking fee in one go.(1,500pounds) . I asked if we could pay of for it over a couple of months or add it to the mortgage.. They refused to do anything. When i told them my fears that without gettin the fixed rate deal we needed, we risk losing the house, they didn't care.

I've had other similar experiences to, every time being flatly reused any help.

I wondered if anybody had similar experience of not getting any help, even though they tell us in all their documents " at the first sign of difficulty please talk to us etc etc etc" . I'm sure there's a bigger picture here that hasn't yet been investigated but needs to be. If I can get enough people, my next step is to contact a willing newspaper to help us forward.

Little_Miss_Uni-Debt

I have had a LOT of experience with HSBC, their money management team and trying to get help from advisors face to face.

It seems they only respond to dogged persistence. I actually spent £11 on a phone call to them, while I got passed around from money management team to advisors and back again.

However it did pay off and I got a £150 fees returned just from being calm, patient, explaining that they were compounding my debt, that I wanted to improve my account by not borrowing more (they just wanted to up my debt by £150 not give me the £150 back)

When it comes to a dead end, you need to simply say - I appreciate that you might not be able to do this for me but there is someone within the organisation that has the authority to assist in situations such as these, can I speak to someone who can help with this please? Ask who they are putting you through to and how they think this other person/team can help. Then use those words when you go through to them.

I think (especially with HSBC) you also have to decide what kind of 'helping hand' it is you need. The bank will never ever ever ever suggest something good for you - only what they want you to do or is least inconvenient for them.

If you want to keep costs down it's best to write a clear letter explaining the situation in bullet points and also what outcome you would be happy with. Take that letter and also a print out of the banks policy into your local branch (there's usually something about offering a helping hand in times of need on their website)

Quoting their own words back to them seems to trigger uncomfortable squirms followed by an appointment with the manager (who usually resolves what you want quickly)

Decide what you want from them (within reason), be calm, polite and persistant and play to their better nature - they SHOULD be helping you in this situation anyway.

awayinchina

Little_Miss_Uni-Debt wrote: »

I have had a LOT of experience with HSBC, their money management team and trying to get help from advisors face to face.

It seems they only respond to dogged persistence. I actually spent £11 on a phone call to them, while I got passed around from money management team to advisors and back again.

However it did pay off and I got a £150 fees returned just from being calm, patient, explaining that they were compounding my debt, that I wanted to improve my account by not borrowing more (they just wanted to up my debt by £150 not give me the £150 back)

When it comes to a dead end, you need to simply say - I appreciate that you might not be able to do this for me but there is someone within the organisation that has the authority to assist in situations such as these, can I speak to someone who can help with this please? Ask who they are putting you through to and how they think this other person/team can help. Then use those words when you go through to them.

I think (especially with HSBC) you also have to decide what kind of 'helping hand' it is you need. The bank will never ever ever ever suggest something good for you - only what they want you to do or is least inconvenient for them.

If you want to keep costs down it's best to write a clear letter explaining the situation in bullet points and also what outcome you would be happy with. Take that letter and also a print out of the banks policy into your local branch (there's usually something about offering a helping hand in times of need on their website)

Quoting their own words back to them seems to trigger uncomfortable squirms followed by an appointment with the manager (who usually resolves what you want quickly)

Decide what you want from them (within reason), be calm, polite and persistant and play to their better nature - they SHOULD be helping you in this situation anyway.

Actually, this is the best advice I have read. I bank with HSBC and with debts with other banks. Although I am a PhD student (mature) they have been nothing but helpful. Over the last 3 years I have got on with my study bought a house and have a young child with another on the way.
I had 6 defaults yet they understood my situation and I got the overdraft (student account) and credit card both of which managed well in the time I have had the account and in the last 100 days payed off all but one debt (1 remaining with santander). May be I have just been lucky. But for all defaults to drop off I am looking at 2016. What i did was is manage one account perfectly knowing the others are defaulted it has helped me and as have HSBC. But by 2016 I will be in a post-doc position and earning 3 times what I get as a stipend and all my debts gone.
sometimes its a case of head down get on with it with tight budget and learn from your errors.

good luck all

2 months left in china (using being in china to clear debts was a bloody good move as most of the creditors did bite my hand off for full and final settlements)