HSBC Informal Overdraft Fees

rufio89

Hello everyone, I'm getting into a bit of a pickle and I could use some help.

I'm getting stuck in a vicious circle with HSBC informal overdraft fees. It started out when I was in a car accident and had to make various pay-outs to cover costs until I recieved my settlement cheque and since then I seem to be stuck in a never-ending cycle of debt with the bank. I've been refused an overdraft so I can't go for that option.


Basically, I went about £100 over (this is all on essentials, food, rent, transport, it's been a long time since I've allowed myself luxuries) and got charged £75 for it, however since I have a green account and I didnt check my internet banking, I didnt realise this charge was coming out, so when it came out, it took me right back below zero and I ended up with another charge. Ive been working hard to get back up to zero and the fees have been reducing so it's normally only £25 a month, however this month I've got into a financial pickle and I've just gone on and seen that I've gone £170 over my overdraft and so I'm going to get charged £150 for it. This means that when I get paid (Thursday), once I've paid these fees and my rent and bills I wont have anything extra for food, credit card payments etc.


I dont think I can claim these fees back, but I was wondering if anyone has had a similar experience, how they dealt with it and if there's anything they can suggest. I just feel sick and want to cry at the moment

Wywth

rufio89 wrote: »

Hello everyone, I'm getting into a bit of a pickle and I could use some help.

I'm getting stuck in a vicious circle with HSBC informal overdraft fees. It started out when I was in a car accident and had to make various pay-outs to cover costs until I recieved my settlement cheque and since then I seem to be stuck in a never-ending cycle of debt with the bank. I've been refused an overdraft so I can't go for that option.


Basically, I went about £100 over (this is all on essentials, food, rent, transport, it's been a long time since I've allowed myself luxuries) and got charged £75 for it, however since I have a green account and I didnt check my internet banking, I didnt realise this charge was coming out, so when it came out, it took me right back below zero and I ended up with another charge. Ive been working hard to get back up to zero and the fees have been reducing so it's normally only £25 a month, however this month I've got into a financial pickle and I've just gone on and seen that I've gone £170 over my overdraft and so I'm going to get charged £150 for it. This means that when I get paid (Thursday), once I've paid these fees and my rent and bills I wont have anything extra for food, credit card payments etc.


I dont think I can claim these fees back, but I was wondering if anyone has had a similar experience, how they dealt with it and if there's anything they can suggest. I just feel sick and want to cry at the moment

I suggest you try the Debt Free Wannabe board.

Post your SoA over there and I am sure they will soon show you how to get permanently back in the black