Questions About Taking On Hsbc

[srg909]

I have read the faqs and still have some remaining questions which i'll try to make brief:

I am an HSBC customer with both current acount and credit card. I think they have charged me about £150 for refused direct debits and maybe £40 or £60 for late payment on credit card bills. I know the next step to take, but first wanted to ask about something that I havn't really got the full measure of:

My big concern is that should I go ahead with this then they will punatively close my account. I am £1500 overdrawn on my current account and this is in the form of my interest free student overdraft, I have now graduated and so they will slowly reduce this. I also have a substantial amount on my HSBC credit card.

Can anyone tell me if HSBC has closed anyone elses account or threatened to. I am not in arrears with them as of the moment so does this make it less likely they'll do that, can they close an account on a whim? does it seriously affect your credit rating, and if so can you get this removed if you beat them?

Also, what happens if they close your account, would I be asked to pay up my £1500 overdraft and credit card straight away, there is no way I could do this, so how would they get it back?

Does my overall situation make it more or less likely that they'll close my account, does anyone know?

That's a lot of questions so I hope someone doesn't mind answering,

thankyou

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Bookworm]

See your other post for my answer about closure of accounts and creditors. The same applies to a bank account.

You should open a parachute account just in case before you pursue your charges back.

Will they close you down? Who knows? There is no set policy at the moment, even within the same banks, so it's anybody's guess...

	Parachute account "Parachute account" describes a second bank account opened expressly in order to avoid retaliatory action by a customer's usual bank once a bank charges claim had been commenced. The term "parachute account" was first used in this sense by BankFodder on the 22nd February 2006 and has since become part of general usage in this context. "parachute account" is used regularly by Martin Lewis of MoneySavingExpert.com and also by the National press.