HSBC Loan

Tasmond

Hi,

Not sure how to deal with this. I had a 20k loan from hsbc to pay off credit card debt. I got it down to 16K but ive not been working the last 7 months and been on ESA. they have sent a letter saying they want me to get it up to date payment wise, ive missed the last 6. they want 1.2k or they may ask me for the full amount.

I have no money, im over my OD limit. Im also moving to new zealand in 3 weeks so my stress is how they are going to hand me having no money and not paying it.

Advice please and what do you think thwy will do if i call and say i have no money and am going to new zealand for at least 6 months to stay with family?

I want to be able to get a bank account in NZ so i want to keep them onside and not take me to court etc.

also i have jobs lined in new zealand that will allow me to get my loan paid off steadily.

Craig1981

morning

call them and explain the situation

they are asking for all payments, as i assume you have not contacted them yet either. This would be priority one. be honest, tell them the reasons for non payment, what you plan on doing and what you are trying to achieve going forward.

Tasmond

so been speaking to hsbc

ive missed 4 payments - they say if i hit 7 they will just write the debt off as a loss end of story but it will stay on my credit score for 6 years and ill be !!!!!!ed for lending....

i can handle that, my credits a mess anyway

Bit will this stop me being able to get a bank account in New Zealand?

TadleyBaggie

I'm dubious that they will just write the debt off. More likely is that they will sell the debt to someone else.

Tasmond

yeah

so they said it just gets written off, then i went through my issues of stress and why im signed off and they put me through to a specialist team. they said they would freeze my account and make sure the debt isnt written off and sold to someone else.... then i got them to confirm they would have sold it off normally which they sort of admitted whilst trying desperately not to admit it.

anyway looks like im i their special leave him alone !!!!!! hes not well team so no need to worry.