Long Term Consequences?

[JammyJezster]

Just trying to weigh up the situation. I think I would be due a substantial amount of money from HSBC, so It's definately worth going ahead with. Just wondered how all this would affect me in the future regarding loans or other services with HSBC or any other bank. The concern is that they would close ranks and make life difficult even though THEY broke the law and forced me to exercise my rights as a consumer. Would my parachute bank know that I had claimed unfair charges from HSBC? Do banks share this information?

[weezypoos]

I dont think they are allowed to share this information with other banks due to data protection however, if you have your account closed by HSBC then you may have a problem with credit ratings etc... but again the reason for the account closure should.t show up on your records, just the fact that your account was closed.

If you open the parachute account before your claim then theres no way the other bank will know. And if they find out (which they shouldnt) afterwards then too late!!

Louise

[rdm2006]

Just remember HSBC is in business to make profit, if it decides to close accounts or refuse loans etc to the very customers it has previousley made profit from then it will not be in buisiness for very long.

[JammyJezster]

Thanks for the replies. It all really helps to build up the guts to get this money back. Gongratulations Louise on your victory. Gonna get my statements online now and plough through them. Saves me getting HSBC to post them out. I'll read the step by step guide and get the ball rolling soon... Charges due to be applied over both my accounts this month are £150!!!! Almost thinking of it as saving now!!

Thanks for the reassurance!

[margi c d]

Hi i have just sent my letter before action for £2637.00, i have a managed loan with HSBC can they request me to pay that back?? at the end of the day thats my money owed back to me they cant force me can they????

[rdm2006]

they only apear to be using the money to pay other debts when the original account has already been closed

[margi c d]

So what your saying is say my account was closed but i had a loan outstanding i would have to pay the loan back? Ive just opened a new account with a different bank and am going to gradually transfer my direct debits etc. Have you had your money back? Do most banks pay up once receive LBA or do you have to go through with court claim??