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