Furious with HSBC

-taff

They decided not to take the chance you wouldn't use the loan to pay off your debt.Credit is not a right.
Another vote for heading to the DFW board.

Reb2016

Hi
Yet another vote for the Debt free wannabes board. I tried to take out a consolidation loan, and also got turned down, it really is the best thing that could have happened. I'm now getting things sorted and will be out of debt much quicker than if I had the loan, and I will pay a lot less in interest too.

Reb

StopIt

You're furious, furious you say.


How Dare HSBC have actual standards for their lending.


If you had actually got this consolidation loan, what would stop you from using the credit cards again? Nothing, that's why they're finally taking these things into account.


Take it as a blessing, head to the DFW boards and find a way to deal with your debts that isn't more debt.

pvt

I wonder if when you initially went through your income and outgoings you told them about your current CC debts? As others have said, lenders would have to assume that you will not use the loan to pay that debt down, or may do so but just run it up on the CCs again.