HSBC Overdrawn business account (Sole trader)

[wales01man]

Re: HSBC Overdrawn business account (Sole trader)

Dont think so

[FlamingParrot]

Re: HSBC Overdrawn business account (Sole trader)

Can you bring losses forward when you convert from a Sole Trader to a Ltd Company?

No, because a limited company is a separate legal entity from its directors or shareholders.

[FlamingParrot]

Re: HSBC Overdrawn business account (Sole trader)

Hi there,
We had a business account with HSBC acct with an overdraft. We went into finacial meltdown in 2005/6(libor rates didnt help). The account went over the overdraft and into severe debt of around £26k. Alot of it was charges and penalties. it was in my mine and wifes name trading under business name. We also are in alot of other finacial debt. we joined payplan to sort this mess out for us. And have been paying on time for the last 6 years but have another 30 years to go !!!. this year i wanted to get a grip of my debt and find out what i really owe. total debt reckoned by payplan reckoning is nearly £100k. the business is still going and we are now LTD and have relevant acct with HSBC. I have started the process of sending SAR and CCA to all of the Credit card companies.

What are you trying to achieve with this? Are you trying to see if some of the accounts are unenforceable? Or to reclaim PPI to reduce the balance? You'd send a CCA request for the 1st and a SAR for the 2nd.

But im at a loss to where we stand with HSBC business account. Can we CCA and SAR them? or is just a case of pay them off till we die? You help would be much appreciated :-)

It all depends on your circumstances. If you are on a low income you could offer token payments. If you are running a ltd. co. the company's income and assets are separate from your own income. Do you own your home/property?

[Adinuff]

Re: HSBC Overdrawn business account (Sole trader)

What are you trying to achieve with this? Are you trying to see if some of the accounts are unenforceable? Or to reclaim PPI to reduce the balance? You'd send a CCA request for the 1st and a SAR for the 2nd.
Hi Flaming parrot,
dont think i can CCA them because its a current account. i have SAR them now. Lets see what information they hold. what im trying to do is too see if i can get charges back and interest at least taken off.



It all depends on your circumstances. If you are on a low income you could offer token payments. If you are running a ltd. co. the company's income and assets are separate from your own income. Do you own your home/property?

We run a LTD comp and yes we own our property. Hi Flaming parrot,
dont think i can CCA them because its a current account. i have SAR them now. Lets see what information they hold. what im trying to do is too see if i can get charges back and interest at least taken off.

[FlamingParrot]

Re: HSBC Overdrawn business account (Sole trader)

You can send them a letter like this which is not really a CCA request but a letter tailored to O/Ds -> http://www.legalbeagles.info/forums/...328#post312328