Where To Begin???

[HSBCHell]

Hey Guys and Girls,

 

Well i'm new to all of this so forgive me if i seem a little disorientated however here is my story -

 

Basically last Feb I decided to leave the country to work abroad, so i notified HSBC and also asked for a relative to become a "representative" to my accounts whilst I was away. So you'd think with the Worlds Local Bank this wouldn't be a problem....hahahaha

 

I moved away and worked on ships - visiting several places; San Diego, Cabo, P.Vallarta, Acapulco, San Fran, Vancouver, Victoria B.C, Seattle...anyways all major cities and couldn't find a single HSBC to pay money into...meanwhile back at home my representative was being refused by HSBC even after a written letter of consent from myself was sent.

Therefore my d/debits and loan repayments where being declined and resulting charge upon charge. Soon I had £600 in charges in 6 months. I came home and the very next day went into my local HSBC branch - asked them why they refused my representative and why there where NO branches of HSBC in any of the places I had visited. Quoting there own "local bank" motto I was told that they operated under WellsFargo in the US - something that I reminded the bank manager may have been helpful to mention when I told them I was going to be working abroad!

 

Anyways after a lengthly chat I agreed to a managed loan to sort out this mess. Thinking that this would be simple and easy - I reitterated the importance of my representative whilst I was away. So with no overheads I agreed to a £300 a month loan to pay back everything within the year, NO PROBS.

 

I made the first 3 payments and then broke my foot while at work, having to be sent home from mexico I immediately notified the bank with a copy of my x-ray and a doctors letter saying that I would have to rest my foot for 8 weeks! no work. The bank said that this was all good and payments would be suspended until I could begin repayments. I said that this was fantastic and was glad that they understood - stating that the missed payments could be tapped onto the end of my loan agreement. Now I began repaying the loan and recieved a phonecall asking for the £600 that I was unable to pay due to my foot. I explained that this was impossible and would take every penny that I earned to pay for this - the response I received was basically "tough s**t!" So I was told that I would be making a double payment for the next month, thats £600 a month!!! I struggled...moved back to my mothers and made the payments. So thinking that I was now OK and only had 1 payment left to repay at the end of my loan once again *phew* sorted!

 

Hell no! Over the last month I have received yet another phone call asking for this final payment to be paid NOW! - after months of silence. I agreed with HSBC's telephone agent that over christmas this was an impossible task and at the most I could pay back and extra £75 per month until the end of the banking term - we where agreed!! I would bust my guts and give it all to the bank! - Hell who needs christmas anyways!

 

Now I made my first payment on the 31st of the Oct thinking that I would be organised, pay it a little early - Oh no! this was a bad move on the 5th I received a phonecall demanding £375 for a payment that had been missed??? So I explained to the operator that I had simply made the payment on the 31st and he said this was fine! - 2 days later a letter and another phonecall demanding this money - oh and they have slapped me with an reversed d/debit of £25.00 taking me overdrawn and now I expect an informal overdraft request fine as well.

 

Basically the result of all this is that I have bent over backwards to try and keep this bank happy and I just can't do anymore. They have taken my switch card and just given me a solo card, my credit rating is now smashed to pieces and I feel like I can't do anything to help!! IS THERE ANYTHING I CAN DO TO FIX THIS???? IS IT WORTH SEEING A SOLICITOR???

 

THANKS FOR READING THIS GUYS!!!! I LOOK FORWARD TO YOUR REPLIES.

[rory32]

Did you sign a credit agreement for the managed loan? Were the terms of the agreement made clear to you e.g. APR, number of payments. Was the managed loan made up of bank charges or a large percentage of it made up of charges?