HSBC - Credit Card - Nobody listens

Helenoftroy21

Hi - I got behind on 2 months repayments of my HSBC credit card - which snowballed into late payments fees, lots of harrassment phonecalls from their telephone centre in Malaysia at all hours of day/night, weekdays/weekends.
I did as wise owl Martin says - enter into conversation with them - advise them of your situation, negotiate - make token payments. All to no effect.
Even their own debt managment centre in the Midlands calculated that I couldnt afford to make payment to them.
Yesterday - I received a Final Demand letter which then leads to Debt collection agencys, solicitors & court - In the past two months since I entered conversation with them my situation hasnt changed but the ignorant young lady I the displeasure in speaking with at HSBC last night could only quote from her script and not work that out.
I have read Martins advise :money:about transferring to other cards, or taking out loans but none of this will work in my circumstances and now my Credit Score is shot to pieces because of HSBC.
I used to have a fantastic credit rating but its all gone - I hate the BANKS - well HSBC.:mad: How is it they can borrow money with endless 0,000,000,000 and no hope of ever paying it back but us mere mortals cant catch a break.
Has anyone else had their credit card debt shipped off to the debt collection agency that HSBC use - how was it for you?

meer53

If you've received a final demand from them you need to contact them to let them know you still can't pay. They will make arrangements for you to pay what you can on a regular basis. It will only be passed to a debt collection agents if you don't keep to the arrangement or you can't afford to pay anything at all.

Martin Lewis is right, you should stay in touch with the bank. I appreciate you're angry, but it's not HSBC's fault your credit score is shot to pieces.

You-kip

Some company's are better in understanding then others.

dotdash79

Writing is the key for dealing with HSBC.

At the moment it's only late payments if you can get back on track then it's not the end of the world.

forgotmyname

Been there and done it. It was either MBNA or Capital one though i forget now.

I was off work due to illness. I contacted them and said i cannot pay as i was on sick pay only £60 odd a week.
Totally deaf to anything that was not on the script. Canot / Willnot help unless i pay £200+. This went on for some time until i told them to sod off and refused to speak to them again.
Then a letter saying they are trying to help me. What a joke.

It all got passed to debt collection companies. And sorry to say. Unless things have changed its going to get worse.
Fake calling cards, Text messages to the house phone. Calls at all hours of the day and night. Even silent calls in the early hours of the morning.

One little picky point in your comments. Your credit file is not shot to pieces by HSBC you did that. The same as i did. You failed to keepup thepayments.
I only blamed myself for getting into the situation. Their lack of help at the time only pushed matters into a corner where i told them to go away.
Switched the phone off and only opened letters to make sure they were not court papers.

I came into a position where i could offer them a silly low final settlement with the offer its this or nothing because iim going to use the money to go bankrupt.

Its a big lesson in life. And i am now debt free totally. No more debt for me.

Helenoftroy21

Thanks for all your replies - I phoned the HSBC last night as soon as I got the letter - the young lady was only interested in going over my finances again that havent changed in the 6 weeks since I presented them with all my information before. And it was HSBC that sent me a letter at the end of Dec '13 informing me that due to my situation they would be stopping the interest charges -so the letter yesterday was a bolt from the blue - almost the Left Hand & Right Hand not knowing what they are doing.
The young lady just said that the company were within their rights to issue this due to contractual non payment of minimum monthly payments - even though I have continued to make token weekly payments (I'm paid weekly) - just not enough to satisfy them.
Which brings me back to Martins advise - he makes it sound like that if you negotiate and play ball with them - which I have and make token payments -i have never said that I wont pay it back - just need a bit more time. The banks will be/have to be reasonable - yet i am seeing no proof of this whatsover.
I have until 20th February to pay back the debt in full or it goes to debt collection agency. This hasnt been going on for years - I have only been in this position for 4/5 months and my credit score is damaged now!
- and I am angry with the banks. I have been able to manage my money successfuly for 20+ years but now its all down to the computer says yes or computer says no - no human common sense or input whatsoever. The banking crisis has had a ripple affect and we are all suffering for it.

meer53

"and I am angry with the banks. I have been able to manage my money successfuly for 20+ years but now its all down to the computer says yes or computer says no - no human common sense or input whatsoever. The banking crisis has had a ripple affect and we are all suffering for it."

The computer has said "yes" to you, for the last few months. Now it's time for it to say no. If you'd contacted them as soon as the problems started instead of just making token payments, they might have been a bit more understanding.

Why was yesterdays final demand a surprise ?

Helenoftroy21

Because As I said - they sent me a letter at the end of December 13 acknowledging my situation and as I was in financial difficulty they were stopping all interest charges...!!!
I didnt ignore them - I co-operated thats my point I have followed the advice, spoke to the HSBC own debt management centre- gave them all my information and it appears to have not helped me at all.
I made the token weekly payments as gesture to prove that I intended to honor my debt - I have read alot of advice columns - 'try and pay something ' so I did!
So YES I was surprised by the letter - and as I also put - their Left hand & Right hand doesnt seem to know what it is doing.
A computer has decided that I am not going to pay them back quickly enough or that they as HSBC are not going to make anymore money out of me so they want shot... ASAP.
I didnt want to be in this position I have worked all my life - and now in a corner finding hard to get out of!!!

forgotmyname

Stop phoning them, Dont speak to them when they phone. In writing only.

I refused to speak to them or acknowledge their letters also. When i did accidently pickup the phone i would say your who. Never heard of you.
Yes i am ... But i dont know who you are or what you want. I suggest you put it into writing and i may look into it. Played them at their own game.

Lots of threats. We may take you to court, We may send doorstep collectors. Just tell them no idea who you are and put it in writing.

At the time i would have been happy to goto court and go bankrupt. You may not feel the same.
Its nto something to be taken lightly. I would have but in the end i didnt need to.

I had to leave it long enough for certain companies to sell the debts on though.

Helenoftroy21

forgotmyname wrote: »

Stop phoning them, Dont speak to them when they phone. In writing only.

I refused to speak to them or acknowledge their letters also. When i did accidently pickup the phone i would say your who. Never heard of you.
Yes i am ... But i dont know who you are or what you want. I suggest you put it into writing and i may look into it. Played them at their own game.

Lots of threats. We may take you to court, We may send doorstep collectors. Just tell them no idea who you are and put it in writing.

At the time i would have been happy to goto court and go bankrupt. You may not feel the same.
Its nto something to be taken lightly. I would have but in the end i didnt need to.

I had to leave it long enough for certain companies to sell the debts on though.

Ive spent the last 10 years paying my mortgage in full (- not interest only version that many have been doing) - dont want to lose it through bankruptcy...!! I have children so its their family home I would be risking as well - they didnt ask for this!
I am keeping up my payments on this. No mortgage arrears

In my choice of what I could pay HSBC was last on the list !!!

meer53

If someone at HSBC has gone through your income and expenditure with you, then it's not a computer who has decided you can't pay. When going through income/expenditure figures, you end up with either a deficit or disposable income each month. If you have disposable income, a bank would accept a token payment. If you have a deficit, they can't accept this as there's no way you can afford to pay anything. This is when your debt will be passed on to a debt collection company and you can make an arrangement with them.

As you say HSBC were last on your list, it sounds as though you have other debts ? Why not post a SOA on the Debt Free Wannabee board for help ?

Being on an interest only mortgage isn't to be frowned on, in your case, it may just help you keep your house.