HSBC default - Is this fair\reaonable\legal

mchappy

Thrugelmir wrote: »

In business some customers simply aren't worth the bother to retain.

Agreed. I'm not sure what their ideal customer is. Presumably either someone incurring bank charges on a regular basis, or someone with lots of cash who uses premium services. The middle of the road, puts salary in, spends salary doesn't have any charges, is probably less attractive.

The oddity for me was that I opened that account with Midland Bank when I was 16. They saw me through the student\university and early working life of basically living on a free overdraft, incurring all the expenditure and getting zero in return. Go to any freshers week at university, and all the banks are there giving away inflatable furniture in the hope that you'll saddle all your student debt with them.

Now at a time when moving towards the premium product category, then they risk the relationship.

I don't think it is that they don't want the customer, I think that they believe (probably correctly) that people will not move bank. There are few other companies\industries that operate with this mindset...BT, Npower etc.

mchappy

matttye wrote: »

I'm afraid that the default won't be removed simply because you need it to be removed.

If it's valid, and it sounds like it is, it will stay on your file.

If all else fails, I'll just become an expert computer programmer\hacker, and amend my own file!

I've seen the films, I just need lots of screens, to be able to type really fast, and grow a full on beard (obviously).

mchappy

krisdorey wrote: »

Option 2 . You have an informal (but still legal) overdraft credit agreement, also you were in an agreement with them under their T&C's

Option 3. You could lawyer up and get someone to represent you in court. Any number of lawyers will accept this as a case, however the only ones who will get any money out of this will be your lawyer. The unfair charges case has already been won by the banks.

Update - "Lawyering Up" did the trick. Default gone, charges refunded.

mchappy

matttye wrote: »

I'm afraid that the default won't be removed simply because you need it to be removed.

If it's valid, and it sounds like it is, it will stay on your file.

It wasn't, it didn't

mchappy

meer53 wrote: »

They don't have a reason to remove the default. It will most likely remain on your credit file.

I gave them a reason!

The_Boss

What was the reason?