HSBC wont stop

DramaQueen29

Im now £600 over drawn because they refuse to stop my loan standing order going out of my account and plus thier charges

Ive told them on countless occassions that Ive lost my job and will have to make a payment offer but they refuse each time saying we can only do so much.

Ive started the ball rolling with claiming back the charges but they still keep piling on

is there anyway i can get them to cancel the standing order i set up ?

jonesMUFCforever

Not if its for a loan from the same bank.
Your loan balance is declining but your current account increases.
Have you defaulted by now as Collections only get involved if you are 3 months or more in arrears.
Only when they are involved will HSBC listen to your offers.

In the meantime open a current account with another bank or you may find your income going into a black hole.

efaitch

My boyfriend had the same problem with HSBC - taking money out of his account when he had cancelled the dd. I would seriously suggest that you get another bank account while you are still able to as you may find it hard if you default on your loan.

Good luck, it took him about a year to finally sort things out after they kept messing him about...

regularsaver1

did you have any insurance to cover the loan as you have been made unemployed?

Banker54

Probably not if they listen to some people on this site, all PPI is bad and should be cancelled because its a waste of money! I could give you a list of people who would dissagree with that statement!

regularsaver1

I colud give you a list of people that have been able to claim

my dad included when he got made redundant, so it can't be all bad

us,thecat&thedebt

ppi is often missold and doesnt cover you as much as you expect...

hsbc are doing my head in at the moment you have to let it go to collections before they will listen.. they will then offer you a managed loan which i said i didnt want but the still sent me the paper work for it!!!

regularsaver1

I don't see how PPI can be mis-sold now with regulation

surely every bank give out the relevant documents with eligibility , benefits and exclusions on - they must give these documents (IDD, policy summary and demands and needs)

The difference is the level of advice - some give advice and recommendation on insurance based on information given (duty of disclosure from customer too) where as some banks are not authorised to give advice