What will happen if they close my account?

[Tokyo Joe]

Hi everyone,

I am new to this forum and would like some advice. I had a look for the FAQ section but couldn't find what I was looking for.

 

Anyway, I have an account with HSBC in the UK. In the past 3 years I have been charged about 300 pound for exceeding my agreed overdraft limit (1500 pounds, paying monthly interest). I was thinking about making a claim for this but have a few concerns.

 

My account is almost 1500 pounds overdrawn on a monthly basis (within the agreed overdraft. I have almost 5000 pound on my credit card and an outstanding personal loan of approximately 4000 pounds. I am worried that if I make a claim the bank could threaten to close my account and ask for immediate repayment. I don't think I can open a parachute account in the UK because I am non-resident in the UK (I have lived in Japan for 6 years). What will happen if they close my account? Is it worth claiming for 300 pounds or is it likely to end up costing me more if they close my account?

[nettyg]

hi tokyo joe

i'm not sure how you'd make a claim through the british courts if you are a non-resident.

[lateralus]

i think you are ok as long as you have an address you can use to base the claim from - like parents or friends or whatever.

 

as for the other question - our usual advice is the current account is a separate product and as such it should have no bearing on mortgages, loans, credit cards, etc. if, however, you are in arrears on those products, they can make noises about using the money to pay on them - but they can't demand it and they won't usually close your current account on the first claim (on the second claim - they usually do close your current account)

[Castlebest]

Sure theres a thread or forum somewhere here for overseas claimants, damned if I can find it though.

 

pete

[freakyleaky]

Overseas Claimants

 

This is the only overseas claimants thread with any useful information on it that I can find.

Hope it helps:)