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HSBC Unauthorised Borrowing


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Hi All,

 

Looking for some advice please (I have a number of debts I am looking to gain control of), I will start one at a time and create a separate thread for each.

 

I had an HSBC Advance current account from 2009 - 2014, during this time on several occasions, HSBC allowed me to go into an unauthorised overdraft and charged significantly (many times charging £100 - £150 for this "priveledge") - admittedly my poor account management was to blame for the situation, but ultimately meant every month my account would go overdrawn by up to £150, most times made up solely from the charges from the previous months unauthorised borrowing charges. On one annual statement, I had paid over £1200 in bank charges, majority of these for unauthorised borrowing.

 

Now there is some background, in December 2013, the same thing happened, but this time I decided I would not pay the charges (not very smart) and I would open another bank account with a different bank. HSBC then added more and more charges to this till the point the account reached £727 made mostly of charges. Like a fool, I simply ignored HSBC and buried my head in the sand. The account was defaulted in June 2014, I then started making payments to HSBC and the outstanding balance dropped to £646 until 3 months ago, when I ceased making payment and more recently Wescot are writing and calling chasing this debt.

 

I have looked through threads on this site, but most deal with loans or credit cards, but I know a bank account works differently. Is there any way to challenge the charges that HSBC placed on the account, or should I simply resign myself to slowly paying off this debt?

 

Thanks in advance

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Ignore Wetcloths, they are a powerless tin pot DCA who can do exactly nothing, if they ring, laugh and hang up, repeat the process.

When they write, file it under ignore.

 

Deal direct with the bank.

Have you switched to another bank?

 

Do you have a complete history of your account with HSBC? If not then you should send them a SAR (£10) and get

the details of it, including all of their charges.

 

You should request a refund of these charges using the hardship rule, including interest that they charged you on them.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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I haven't taken any calls or responded to Wescot.

 

I have switched to another bank and have not used the HSBC account since December 2013.

 

I don't have a full statement of account, so will send a SAR and then I will come back with the info I receive from HSBC.

 

Will I have grounds to use the hardship rule? (I will do some searching on this) - they should have been aware, as there were also payday loans on the account, which I assume indicate financial difficulty

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They don't care, they just hope they can continue to con you and make a profit out of you before you realise you've been had.

 

Get the SAR off to them, and when you have the history of the account, you can then work out how much you're going to reclaim.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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No worries :thumb:

 

Usual rule of thumb, keep a diary of events, no talking to them over the phone, unless you're able to record

both sides of the call.

 

Ignore wetcloths, or bait them, either way they are powerless.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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