Overdraft mess

Sarahoco

Hi I am new to site but need advise as I don't know what to do.
I have an account with HSBC which I hadn't used for a while but had an over draft of £1500. When I lost my job I stupidly withdrew from this account going way into this overdraft. Well now they are saying that as I don't have money going into the account regularly I have to pay £600 within the next month. Luckily my nan gave me £300 but that was all I had. They seemed to stop calling but now I have a letter saying 450 needs to go in. I paid £100 straight in and when I got paid (I now have a part time job) I transferred it all over to that account. But I need to pay my bills too so have transferred some back.
Now today I have an answer phone message to call them.
I am too scared to call them can they send bailiffs to me?!

Tixy

Hi and welcome to the site.

You are a long way from the possibility of bailiffs. Bailiffs can only be sent after a creditor has taken you to court and obtained a CCJ against you.

I would suggest working out how much you can afford to repay to this account each month and then writing to them explaining you are lost your income and now only have a part time work and can only afford £x per month. They will likely accept a reasonable repayment offer without taking further action against you.

They may at first try to get you to pay more, and they may mark a default on your credit file (they may have already done so) but if you stick to paying what you can afford each month then they should stop hassling you.

Sarahoco

Thank you for your reply. I will write to them and see what they say. Should I not return their call and just write?

OneLife_OneShot

Never do anything over the phone, keep it written because they could say "there is no record of this phonecall etc"

Tixy

I wouldn't bother to return their call.

If they ring again and you happen to answer it I would just tell them you are writing to them with a repayment proposal.

Sarahoco

Ahh ok thank you I will get on to a letter. Is it the head office or my branch I address it to? Sorry for all the questions!

happy_bunny_2

Send it to your branch, if its being handled by collections they will forward it.

Sarahoco

Thank you x

[Deleted User]

I would open an entirely separate account with another bank and have your money paid into that; in this way you have money to pay your essential needs, food etc. Then negotiate with HSBC and explain your circumstances and offer a REALISTIC amount each month. Don't let them bully you, everything by letter. In the scheme of things you don't owe a tremendous amount, so don't panic and be firm.