Conned by HSBC can't find anyone else with the same story

opinions4u

MrKIernan wrote: »

But I cancelled the direct debit...they set it up again without my knowledge ...

Your loan agreement allowed them to continue collecting funds from any HSBC account you held. Like it or not they acted in accordance with the agreement you signed up to.

Torry_Quine

You took out a loan and only paid a small amount back before stopping and then have the cheek to blame the bank for wanting you to pay what you owe. :eek:

You won't get any sympathy here as you really are to blame here, not least for not keeping a check on your current account.

rabbit_burrow

To me it looks like it is not HSBC Loans that is calling for the debt, it is HSBC Bank that is calling for it. So no, it isn't statute barred. The loan has actually been paid, it is the bank calling for the overdraft debt to be paid. I suppose if you haven't paid anything into the account, then it may be classed as statute barred, however, as payments were still being issued from it until 2012, it may be classed as it still being in use.

skintandscared_2

If you had PPI, why didn't you use it when you lost your job in the first place? It clearly wasn't missold as you obviously had no other means to pay the loan!

RuthnJasper

All I can add from my own experience with HSBC* is to say that, if you contact them when you first begin to get into difficulty they will generally do their best to try and help you come to a mutually-acceptable resolution that will repay the debt in a way that the debtor can afford. But they obviously cannot do this if you ignore them and their repeated attempts to get their money back.

Never a good idea to stick your head in the sand and ignore the problems - took me a long time to learn that. The more open and honest you are, and the quicker you are in being so, the more the banks will be willing to try and work with you and not against you.


*(PPI shenanigans aside, where they were fairly useless to begin with, but "surprisingly" efficient when senior managers were 'copied in').

Best wishes OP. x

ILW

So you borrowed £3,000 and then disappeared for a few years, and you are saying the bank are con artists? Strange logic.

keith1950

Never a good idea to stick your head in the sand and ignore the problems

He probably had no intention of paying this back in the first place and is now upset that it has come back to bite him.

What goes around comes around....as they say.

Thrugelmir

Try to Con[STRIKE]ned[/STRIKE] [STRIKE]by[/STRIKE] HSBC can't find anyone else with the same story

Lesson is to read the small print of any contract. HSBC obviously are able to offset to recover the debt. If you intend playing the system then understand all the rules of the game.

katejo

keith1950 wrote: »

He probably had no intention of paying this back in the first place and is now upset that it has come back to bite him.

What goes around comes around....as they say.

I agree. If you have the funds to buy a property, you have the funds to pay off the original debt. Why should anyone be allowed to take out a loan and then abandon it for something more interesting.

RuthnJasper

keith1950 wrote: »

He probably had no intention of paying this back in the first place and is now upset that it has come back to bite him.

What goes around comes around....as they say.

Sad but true.