Thread: HSBC Flexi Loan

Hi People. I've been with HSBC (formaly Midland) since I was 16. I approached them about having an overdraft facility on my current account. They suggested instead that I have 'flexi-loan'. The amount of interest they charge is phenomanal. Is there anyway I can get rid of this burden?

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if it is like the managed loan - you could possibly get it changed to a regular loan at a much more reasonable rate - but it will depend on how you've been doing at paying it off (like on time each month) and if they consider you a good enough customer -
don't really know anything about a flexi-loan but the managed loan is akin to slavery! good luck - maybe this bump will get you some more info.

Thanks I hope so!

Originally Posted by DonnyG

Hi People. I've been with HSBC (formaly Midland) since I was 16. I approached them about having an overdraft facility on my current account. They suggested instead that I have 'flexi-loan'. The amount of interest they charge is phenomanal. Is there anyway I can get rid of this burden?

Get an overdarft. flexi-loan's are a waste of time, i ended up having to take one out beacsue i went sooo o/d after they started charging me ridicilous amounts. Took £1500 flexi-loan, causing me no end of bother. Pursued all o/d cahrges and flexi-loan back. took the money and ran. they agreed to pay whilst transfering me to the MCS (MET. COLLECTION SERVICES) do even go there. Write and cancel it now and try get some money back that has been wasted in interest. You were mis-informed follow the templates and adapt it to your personal case. write to them get you statements take control!! Good Luck !!