Jump to content


HSBC Business Account - unauthorised o/d


icklepickle
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4886 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi all

Hope someone can help,I’ll be as brief as poss and thanks in advance to all who respond.

Ive run a small business as a sole trader for 5 years. Last year due to the downturn business took a vertical leap of the cliff and I gained an informal overdraft with HSBC, around £1k. This was principally because they had provided me with a charge card which let me run upto £1k/month which was then recovered by DD every month. Since no funds were available one month (Feb/March) they took the DD and left me a £1k unauthorised o/d. They began to charge me £8/day for being o/d and I ended up aprox £1.2 k in debt to them.

Since business was v quiet and their collectors kept phoning, I told them there was no way I could repay in full. They advised that if I could bring the o/d under £1000,they would let me repay about £130 per month and still use my account. I managed to do this and all was ok for a few months,but with business still suffering,after 3 months in around July, I missed a payment and they withdrew the facility,leaving me with an unauthorised o/d and charging £8 per day again.

When I asked,they would not let me pay by instalments again unless I took out a managed loan agreement,which I read on here are a nightmare so I didn’t sign up. I have continued to tell their collections team that I will pay the o/d as and when I receive funds but business is v slow and |Im having to drag money from people who owe me. The o/d now stands at around £1.5k, around £300 - £400 of which is charges.

At the start of December,they sent me a letter saying that I must contact them to let them know how I intend to pay them back and seemingly demanding that I sign up to a managed loan or pay back in full. I messaged them via the internet banking system to say that paying them back is a priority but until my debtors pay me I am unable. I added that I hoped to be able to pay back in full within a couple of months but failing that could only offer to pay £150 per month starting immediately.

I have now received their response dated 29th December,which doesn’t acknowledge my message to them at all, but demands payment in full within 18 days ( 16th Jan) and threatens debt collectors/ solicitors action if payment not received and adds that I may also be taken to court

Not sure I can find the money by then and wondering where I stand. Any ideas?

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...