Who are HFC Bank/HSBC Bank?

HFC Bank Limited was a financial institution that provided a range of credit products, including personal loans and credit cards. In 2013, HFC Bank’s accounts were transferred to HSBC Bank plc, integrating HFC’s operations under the HSBC brand. HSBC is a major global banking and financial services organization, serving millions of customers worldwide with a wide range of financial products and services​.

Why are HFC Bank/HSBC Bank contacting me?

HSBC Bank may contact you if you have outstanding debts from accounts originally held with HFC Bank. The contact could be regarding overdue payments on loans or credit cards that were transferred to HSBC from HFC. Their aim is to remind you of your debt obligations and to discuss repayment options.

Is contact from HFC Bank/HSBC Bank serious?

Yes, contact from HSBC regarding debts originally with HFC Bank is serious and should not be ignored. It signifies that you have an outstanding debt that needs to be addressed. Ignoring these communications could lead to additional fees, negative impacts on your credit score, or legal action​.

Can a Debt Management Plan stop HFC Bank/HSBC Bank?

A Debt Management Plan (DMP) can help manage and consolidate your debts, making it easier to handle repayments. While a DMP might not completely stop contact from HSBC, it can significantly reduce the frequency and urgency of communications, as long as you adhere to the agreed payment plan.

I have received a letter from HFC Bank/HSBC Bank, what does this mean?

Receiving a letter from HSBC regarding an HFC Bank debt means that you have an overdue payment. The letter will outline the amount owed, the original creditor (HFC Bank), and instructions on how to make a payment or set up a repayment plan. It is crucial to respond promptly to avoid further action.

What rights do I have against HFC Bank/HSBC Bank?

You have several rights when dealing with HSBC regarding debts from HFC Bank. These include the right to be treated fairly and respectfully, the right to request detailed information about your debt, and the right to dispute any inaccuracies. HSBC is regulated by the Financial Conduct Authority (FCA), ensuring they follow fair practices.

HFC Bank/HSBC Bank are sending debt collectors to my house, what should I do?

If debt collectors from HSBC visit your home, you should remain calm and communicate respectfully. Debt collectors do not have the right to enter your home without permission. It is advisable to discuss your situation with them and work towards a repayment plan. If you feel uncomfortable, you can ask them to leave and contact HSBC directly to resolve the issue.

Will HFC Bank/HSBC Bank repossess my home?

HSBC typically does not repossess homes unless the debt is secured against your property and you fail to make payments. If your debt is unsecured, repossession is unlikely. However, it is important to communicate with HSBC to avoid severe consequences and explore repayment options.

What Debt Management Plans can help stop HFC Bank/HSBC Bank from contacting me further?

DMPs and Individual Voluntary Arrangements (IVAs) can help manage your debts and reduce contact from HSBC. These plans consolidate your debts into a single monthly payment, making it easier to manage your repayments and prevent further action as long as you comply with the terms.

What if I can’t afford to pay HFC Bank/HSBC Bank?

If you cannot afford to pay HSBC, it is important to contact them and explain your financial situation. They may be able to offer a more affordable repayment plan.

For free debt help, you can get in touch with MoneyHelper. They are a free, government-backed service designed to provide clear, impartial guidance on money and pensions.

Alternatively, if you’d like to speak with an expert debt advisor, you can get in touch with the friendly MoneyPlus team today.

Website: www.hfcbank.co.uk / www.hsbc.co.uk/hfc-bank/

Important: Please note that MoneyPlus are not associated with HFC Bank Limited in any way. The information on this page is provided to help consumers contact their creditors. If you’re finding it difficult to make your monthly payments to HFC Bank Limited you may need help managing your debt.