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HSBC and their lack of support
elgrn
Posts: 1 Newbie
Has anyone else had issues with HSBC and Covid19 support?
Just before the official lockdown started I called HSBC about a payment holiday. At the time they were only offering 'breathing space' which was a 60 day payment free window for my credit card and loan. They explained it would appear as a default payment so would affect my credit but as my credit was good I wasn't worried, plus I didn't have much of a choice as I really needed to not make these payments. I also tried to extend my overdraft but the request was refused as I was using it. Last week I received details of their 3 month payment holiday scheme and applied for this for both credit card and loan. I have received an email now stating that the loan payment holiday has been declined because I was in default before Coronavirus hit, which is not the case as it was early March when I called; and it was never explained to me that if I used their breathing space offer it would make me ineligible for a repayment holiday later. I intend to call them about this and am wondering what legal rights I have to challenge this given that I have taken up one service offering which now prevents me from another. Any advice will be gratefully received.
Just before the official lockdown started I called HSBC about a payment holiday. At the time they were only offering 'breathing space' which was a 60 day payment free window for my credit card and loan. They explained it would appear as a default payment so would affect my credit but as my credit was good I wasn't worried, plus I didn't have much of a choice as I really needed to not make these payments. I also tried to extend my overdraft but the request was refused as I was using it. Last week I received details of their 3 month payment holiday scheme and applied for this for both credit card and loan. I have received an email now stating that the loan payment holiday has been declined because I was in default before Coronavirus hit, which is not the case as it was early March when I called; and it was never explained to me that if I used their breathing space offer it would make me ineligible for a repayment holiday later. I intend to call them about this and am wondering what legal rights I have to challenge this given that I have taken up one service offering which now prevents me from another. Any advice will be gratefully received.
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Comments
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Unfortunately it's not a question of legal rights. More of lenders discretion. There'll judge each case own it's own merits.0
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HSBC absolute disgrace, simular issues. Contact their Finacial Guidance Team and make a complaint. There are many more I was informed by a representitive . A Manager is going to be getting back to me by the 20th June to discuss option regarding their failure on the breathing space fiasco and payment holidays confusion.0
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