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A Question..(Re Loan)


b1gg13
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OK, Im currently in my OD by about £1400 which they want me to reduce, i thought of a loan, and as its only HSBC that can offer me a loan should i go for it then claim the money back or can they as soon as i start proceedings ask for the loan back in full?

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Try not to take out a loan to cover the overdraft - it just gets you in deeper. By all means, carry on with the recovery of the charges but at the same time, why not go talk to the bank and try to reduce it by, say £50 a month. That should be relatively pain free, if they agree to it. If you take out a loan, you'll be paying that back for a long time. It's their quick fix solution and it only helps them make more money out of you and gets you deeper into their clutches. Try to get out of debt without it. As for your question -others have asked and i don't think they do that, but if you recover any charges they can ask that they be applied to the OD which I guess is fair enough.

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