What will HSBC do if I cannot repay what they want? I have told them I lost my job and they do not care, whatsoever. I offered the minimum payment and they said no. I will be moving back to the US, what will happen then? Should I just leave? Should I try to set up some kind of payment and hope they accept?
2006-11-20 00:44:39 · 13 answers · asked by eNGLANDER 1 in Business & Finance ➔ Credit
my and my bf got a loan with barclays of£5000 and we told them we wud be movin home and that we would have a period of time were we wouldnt have jobs and they said that if we bought the loan protection we wud be covered for that and we could have a year where we didnt have to pay so we bought it then we moved home and told them we cudnt pay and the loan protection wud cover us and they refused and now we r payin over £200 a month as well as all the other general bills and we r actually payin out more that we get in a month and they worked that out but then said there was nothing they cud do so we r F***ED and they cudnt care less so i wudnt even bother tryin and now we even have to pay for loan protection which we wudnt have even bought if they hadnt of told us we wud be covered it takes the p*** and im only 17 so i dunno how we r gonna pay this for the next 5 years!!!
2006-11-20 00:51:08 · answer #1 · answered by jaqueline 2 · 1⤊ 0⤋
my advice would be to go to a cab place and hopefully they will put you in touch with a solicitor that does some work for free say the first half hr consultation and he/she will be able to tell you the legal side of where you stand but we owe money to them and did same as you offered minimum and they didn't accept our offer as well and now we are both out of work seems they just want there pound of flesh and more don't care about your individual circumstances or problems you might have and like you we were trying to do the decent thing best of luck hope it works out OK for you
2006-11-20 01:02:40 · answer #2 · answered by on a need 2 know basis 2 · 0⤊ 0⤋
Hi, I worked for a credit counseling agency 15 yrs and I really don't think the credit there will travel here with you. I suggest that when you get to the U.S. you request credit reports here to see if you have any record at all. At that point if you don't just send them what you can, and keep records and copies. If you call from the U.S. and make arrangements,then you will have a record here in the bureaus. 9 of 10 times they will not reject a pymt.
2006-11-25 04:08:11 · answer #3 · answered by christina g 2 · 0⤊ 0⤋
No wonder America is fucked, nice people you are indeed! Seriously, I would let the bank bugger because they would not work with you. Go abroad, HSBC will write it off, and you can start over.
P.S. that is why some people come to the US anyway, to get a start over.
2006-11-20 05:01:55 · answer #4 · answered by Charles-CeeJay_UK_ USA/CheekyLad 7 · 0⤊ 0⤋
That is the trouble with these banks they are so quick to offer thousands of pounds to us, but when a problem occurs they do not want to know. I would return to your homeland and forget about the debt, should not think you will hear anything further about it. Happy travelling.
2006-11-20 01:01:25 · answer #5 · answered by Kirks Folley 5 · 1⤊ 0⤋
Regardless of the morality of this it's what they'll do:
If it'll cost more to hunt you down and take their pound of flesh, they'll just write it off - being overseas will add to the cost of finding you. If they already know that you don't have the money, is it worth chasing you?
If you remain untraced for seven years, then legally the debt is cancelled.
2006-11-20 00:50:29 · answer #6 · answered by Anonymous · 1⤊ 0⤋
i don't know where you stand legally but if i was you i'd just leave and wait for them to chase it up. Ask at your local citizens advice bureau. If they have no right to chase you up then screw them. My boyfriend banks with them and after phoning him for a "courtesy call" he then got a letter saying they would charge him £10 per month if he didn't put a minimum of £1500 per month in his account! They are robbing b*stards!
2006-11-20 01:01:07 · answer #7 · answered by xxx 3 · 0⤊ 0⤋
The bank will not chase you if you only owe a small amount.
I know 2 people that owe around £10,000.,and another that knocked the bank for £24,000.They all went to live abroad.None of them have been pursued for the money.
2006-11-20 00:54:06 · answer #8 · answered by Anonymous · 1⤊ 0⤋
If you offered a minimum payment, send it. They certainly are not going to send it back to you.
2006-11-25 10:44:07 · answer #9 · answered by newyorkgal71 7 · 0⤊ 0⤋
Get a loan here in the US to pay for the loan over there. Good luck.
2006-11-20 00:55:20 · answer #10 · answered by jen 4 · 0⤊ 1⤋