HSBC chasin overdraft repayment. HELP!

sweetpeas_2

its comforting to hear other people are in the same position as me.
as soon as id put the phone down from that mean woman i thought "oh ohhhh" . i really thought id made a mistake somehow.
sounds daft, but i think although i deal with the monthly income/outgoings, dh usually deals with the major stuff/one offs, and to say im on the phone all day at work, im not good at handling it when its centered around me!!!

on the plus side, after registering on this site way back last august, and after plodding on running more and more debt up since then, i FINALLY had my LBM last month! HORRAY!!! took me long enough i know, just dont think the full extend of our situation ever occured to me before now.

Hip Hip Horray!!!
i actually feel free-er now ive looked at our situation, i feel like a massive weight has been lifted off my shoulders-just by admitting our situation needs dealing with NOW!

nog xxx

madmoney_2

noggin that is exactly what happened to me, had a half lighbulb moment goin on around this time last year, but decided i wasnt too badly in debt so i shouldnt worry!! how daft was i? the most annoying upsetting and ref=gretful thing i did was join up to several online bingo sites, feel so stupid now looking back but at least i put a stop to it, i replaced my online bingo sessions with mse forums so forgive me if i post too often, its to keep my fingers from typing in "bingo" on google!!! isnt this site amazing!!

sweetpeas_2

this site is a godsend. apart from obviously the advice and support, it also stops us from doing naughty things-like online gambling, online SHOPPING, arragh, and general naughiness where money spending can be too easily done!
that you, mse for saving us from our bad habits!

x

MadDogWoman_2

Can I join the "I Hate the HSBC" club?

They are making my life a nightmare. They are the only company not to stop interest so my debt is going up rather than down as my CCCS payment is lower than the monthly interest.

I've had several phone calls in the past demanding extra payments I just quote my CCCS client number at them saying I'm paying what I can afford. If it happens again I might say stop the interest and I might consider it.

I'm also in the same situation re bank charges I'm claiming back just over £6500 in total which hopefully will clear most of the overdrafts.

MadDogWoman

sweetpeas_2

thats the thing with them, they keep adding interest month after month so you get more and more overdrawn and meanwhile they still keep CHARGING!!! :mad:
we swopped to them about 2 years ago from barclays and in truth i wish wed never bothered. they are HORRIBLE!!! :mad: we are now with natwest, who dont seem to be quite as bad. they dont let you go over your agreed limit by a debit card transaction/cash withdrawal, but let you of with dd's. but in a way its good that they do it this way as they cant charge you if you dont go over can they!!!

sweetpeas_2

ok boys n girls, got a new dilema...suprise suprise... :rolleyes:

i am thinking about the possibility of paying off £500 of my hsbc overdraft, taking it down to the agreed limit, with a credit card.

i know i know, bad idea it seems. but if the min payment is £30 on the credit card/month, and im already having to pay hsbc £10/month in my little "agreement". i might be best paying £30 (at the most) to the credit card, instead of £10 to HSBC plus interest of about £25-£30 that horrible HSBC keep slapping on monthly. so really id prob be better off monthly by a bit, plus id not have them breathing down my neck anymore.
i may also be able to still keep paying £10/month of HSBC each month if im slightly better off monthly.

make any sense guys?

any advice would be really helpful.

oh, just incase it mattrs- our HSBC credit cards are at limit of £1000 each and minimum payment on those is £29/month. so the £500 one defo wouldnt be more cos same % repayment amount.


ta evry1

noggin x

rog2

Hi noggin - I would advise you to think very carefully before using a credit card to pay off part of your overdraft. You are, in effect, creating debt to pay debt and you will still be at the limit on your HSBC account, whilst it will take a lot longer to pay off the credit card.
If you can afford the £30 credit card minimum payment, why not use this money instead to throw at the excess overdraft repayment?
Write to HSBC using the template letters that you can find on;

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6


I know that HSBC are a pain - they were my Bank for 28 years AND they treated me just as badly as they are treating you. I just think, as other posters have said, that it will be better to keep 'trickling' money into the account, rather than one big hit, which will, in effect, be creating additional debt for you.