hsbc

COOKIEWILLOW

hello, new member, have asked folk for advice on hsbc, but put it under "loans" site, dont know how to forward it to this one!! thick as a plank, no wonder in debt.

Storm

Original Post:

hi, please bear with me, new member, not even sure on right place. hsbc have written to say that they have declined a direct debit of 29 quid and that because i am 500 overdrawn on an authorised 250 quid facility they wanted a proposal of how i was going to repay, so sent letter asking if they would accept 100 month until overdraft clear. they have replied saying "thank you for writing, here is a credit agreement for a managed loan, including your overdraft and also your credit card balance of £5,000.!!!
they want me to pay 100 a month unitl 2017!!!! i am not behind with my credit card payments, albeit i am nearly up to the limit but i pay the minimum every month, there is no way i want loan off them, i only wanted a few months to clear the od. will they make me take out this loan and can they make me pay the credit card bill at once even though i am paying the requested amount every month?? feel sick this morning

DON'T sign this credit agreement!!!

What I would recommend is setting up a new basic bank account somewhere else, and make sure that your salary/benefits get paid in there & all DDs transferred over. You can then treat this OD as any other debt, and just transfer £100 a month into it until it's clear. They'll probably bluster and tell you off, but if you're paying it back then there's not much they can do!

COOKIEWILLOW

thank you storm,this is what i have done. i only had a £29 direct debit going out and i have written to these asking for a d/d mandate to have it taking out of my joint account with hubby at tsb. i know i was naughty going over my facility but in writing and asking them for a little time i thought i was doing right thing!! i guessed they were "trying their luck" hoping i would jump at it, but didnt know the hard sell of banks would result in them being so presumptious!!!they even did a credit check so thats another footprint on my long long long file. thank you again, it is so nice to know other people are in the same boat (titanic!!) i will continue to pay what i offered and they can sling their hook, when od is cleared i am ready to fire in a bank charges claim anyway.:beer: