Advice about defaulting on HSBC personal loan.

kel_mooloo

Hi, I hope im posting this in the right place..im a newbie

I could do with some advice!
I unfortunately lost my job in August, which was bad timing as i had just rejigged my loan at HSBC to pay off my overdraft too, totalling £6000 (interest included there) paying £100 off per month over (i think) 5 years.

So i missed the first repayment of this new loan, and have done so up to now- November. I have been in numerous times, phoned the credit services HSBC "helpline", spoke to advisors, and no-one can help me. im unfortunately on benefit now, and cannot afford to pay it back, and now am threatened with legal action.

I have a job starting on 19th nov, which is £14000 pa, and rang HSBC to tell them to see if they could reduce the payments, as its less income than i was on in my old job.
They offered me £70.46 loan repayment per month, over 12 years, paying back in total £10,144 back!! my original debt was only £4000 ish before interest. That is the lowest they will offer me and it just seems way too much interest. anyone got any ideas to help??
Im scared of defaulting anymore, because when i was at uni i lived with 7 people and a gas bill was unpaid at £700, and my name and my friend's was on the bill- which i have found out has resulted in a CCJ (im only 23), which im devastated about-it wasnt just my bill. anyway, not to stray off point too much but im not sure where i stand legally with HSBC as i have informed them countless times about my situation- when i lost my job the first thing i did was tell the bank.

Id appreciate any advice/info/suggestions.
Thanks very much for reading.
Kelly x