HSBC asking for an I&E form, numerous other things

[liesauk]

Ok, I have been scared to post about this for a few reasons, I find it difficult to understand alot of the abbreviations used and quite a lot of the steps involved go over my head :(

 

So I do hope you will be gentle with me

 

I have had a loan with the hsbc for the past 2 years and renewed it last year after paying the initial loan back, I have a joint account and a graduate account with them also. Until September of this year I was in a high paid job and enjoying the benefits and able to afford all payments. I do not have credit card debts nor do i have debts with any other companies, having been made bankrupt 4 years ago.

 

I lost my job along with countless others back at the end of September and since then I have not been able to afford to pay my loan payments I have missed 4 as of today for £378.00 each month. I am at the top of my overdraft on my graduate account for £500. But also my joint account is now overdrawn by £900 due to mounting bank charges £430 is charges they have put onto the account.

 

I have told them that I am now unemployed and the only income we have is from Family tax credits(my husband has set up a small business in a market that is paying the rent on the unit at the moment but nothing else.. we hold out hope) and our rent is paid through the housing benefit.

 

I had a phone call from them today about the loan saying that we are about to default and they needed me to write down all my income and expenditure on a form and take it into a bank branch, I explained I couldn't print at the moment and could they send one to me she said no and just handwrite it.

 

I am not sure what to do she told me to make token payments to the bank and I said if I do that it will just be swallowed up by the bank charges and couldnt they stop them? No. Surprise surprise. She told me to put money into my savings account and they could transfer it to the loan account. I have tried to cancel the direct debit which goes from the graduate account to the loan account but it says I am not allowed to do this, as everytime it bounces they charge me.

 

I know you all see the same old thing every day and I do appreciate that I could find the answer elsewhere, but I am frightened I am getting calls every day and I don't want to be in a position like I was 4 years ago, I have worked so hard to get out of that situation.

 

thanks

liesa

xx

[yourbank]

Putting Your Finances In Order: HSBC Bank UK

 

The above takes you to their link on financial hardship and on the top links is says "calculate your income and expenditure". Is there anyway of popping to your local library and print out a copy of the form?

[liesauk]

Putting Your Finances In Order: HSBC Bank UK

 

The above takes you to their link on financial hardship and on the top links is says "calculate your income and expenditure". Is there anyway of popping to your local library and print out a copy of the form?

 

I have done that, lol filling out the form just showed that I was £400 down each month lol.. oh how have I managed so far??

 

I shall go to the library and print it out if you think I should send it off?

 

Liesa

xx

[yourbank]

I have done that, lol filling out the form just showed that I was £400 down each month lol.. oh how have I managed so far??

 

I shall go to the library and print it out if you think I should send it off?

 

Liesa

xx

 

Well, they have asked for one and it does show a deficit of £400 so they should be looking at your financial hardship sympathetically as per the BCOBS and the lending code section 9(which took over from the Banking code in November 2009)

[liesauk]

Will I be asked to pay alot do you think

Edited December 29, 2009 by liesauk
double post grrr

[liesauk]

sympathetically as per the BCOBS and the lending code section 9(which took over from the Banking code in November 2009)

 

i am not sure what that is sorry.

[yourbank]

It is what took over from the Banking Code in November 2009. Below is the lending code.

The Lending Code

Page 20(its in HTML btw)

[liesauk]

thanks for that I just feel like all control is slipping away from me at the moment. I have worked so hard to keep my head above water and now I just feel like I have let my family down and everyone else

[liesauk]

that form doesnt print out all the information just the last summing up. I am not sure what to do, please help

[lee32uk]

Open a parachute account with a different Bank. Make sure that it is not connected to HSBC in any way i.e Alliance and Leicester

This will stop them getting their hands on your money, and it puts you back in control

I was in a similar situation with HSBC who were charging me £150/month in Overdraft charges. The account is now dormant with a negative balance of around £200, although I have a claim to try and get them back.

[liesauk]

Open a parachute account with a different Bank. Make sure that it is not connected to HSBC in any way i.e Alliance and Leicester

This will stop them getting their hands on your money, and it puts you back in control

I was in a similar situation with HSBC who were charging me £150/month in Overdraft charges. The account is now dormant with a negative balance of around £200, although I have a claim to try and get them back.

 

Luckily I have an account with the Natwest that when this whole situation started, I had my tax credits etc paid into. I found another finance sheet that I have completed and I will take into branch tomorrow. I know that their next step is to offer me a managed loan, but from all the scary stories I see on here I won't be taking them up on their kind offer lol.