Losing Job and Banks
#1
Losing Job and Banks
Anyone have any idea what would happen if a bank I have a personal loan with finds out I have been made redundant but am still in the country making my pamyents?
#2
Forum Regular
Joined: Jan 2009
Location: Brisbane, Qld
Posts: 285
Re: Losing Job and Banks
Is not that simple AW. Your company may tell your bank that this is your last salary -than the bank boys go to work - they freeze your bank account.
Happen to us 2 years ago and guessing it will happen again shortly. I since got a little wiser - 1.got another bank account(2 accounts)-2. credit card with another bank - also got back up card from home country and 3. paid off loans.
Any sign of another job??
As soon as you do get a letter from new company to say you are re-employed to show to bank to unfreeze your bank account.
Is the loan with them? - do they have security cheque?
Maybe someone else can help - not an expert - just hate the way banks treat you here.
Good luck
Happen to us 2 years ago and guessing it will happen again shortly. I since got a little wiser - 1.got another bank account(2 accounts)-2. credit card with another bank - also got back up card from home country and 3. paid off loans.
Any sign of another job??
As soon as you do get a letter from new company to say you are re-employed to show to bank to unfreeze your bank account.
Is the loan with them? - do they have security cheque?
Maybe someone else can help - not an expert - just hate the way banks treat you here.
Good luck
#3
Re: Losing Job and Banks
The bank is seperate from my main bank so they have all the monthly cheques for payments, plus they have 1 cheque for the principle amount of the loan. It just draws from my regular salary account with another bank.
#4
Forum Regular
Joined: Jan 2009
Location: Brisbane, Qld
Posts: 285
Re: Losing Job and Banks
Okay.
So the important think is not to have you main bank account frozen, as then the other bank will be getting bounced cheques. Car loan I guess - Sell car and hire? Raise money from home to get rid of loan?
The bank won't tell you that they have frozen account until there is a problem, then too late.
Sorry no help at all - We had bank account frozen and credit card too - but did have another job - so after we went in with letter,bank then unfroze account but this did take a few days if I remember rightly. Not fun here with no money or access to money.
So the important think is not to have you main bank account frozen, as then the other bank will be getting bounced cheques. Car loan I guess - Sell car and hire? Raise money from home to get rid of loan?
The bank won't tell you that they have frozen account until there is a problem, then too late.
Sorry no help at all - We had bank account frozen and credit card too - but did have another job - so after we went in with letter,bank then unfroze account but this did take a few days if I remember rightly. Not fun here with no money or access to money.
#5
Re: Losing Job and Banks
Well the main account shoudl be fine.
Do you think they will try to cash the full amount cheque which will then bounce?
I dont want to have to pay the entire loan right now.... I am happy paying my monthly installments. Just a personal loan not a car loan.
Do you think they will try to cash the full amount cheque which will then bounce?
I dont want to have to pay the entire loan right now.... I am happy paying my monthly installments. Just a personal loan not a car loan.
#6
Re: Losing Job and Banks
I'm guessing that if you have no loans with the bank that your salary goes/went into, then they don't need to freeze it - after all, they don't know that there are back-dated cheques floating around, do they? As long as you keep the money going in to cover the repayments, then everyone *should* be happy... surely?!
#7
Re: Losing Job and Banks
I'm guessing that if you have no loans with the bank that your salary goes/went into, then they don't need to freeze it - after all, they don't know that there are back-dated cheques floating around, do they? As long as you keep the money going in to cover the repayments, then everyone *should* be happy... surely?!
One of the administrators said tell him to call me and ill say everythings ok...
#8
Forum Regular
Joined: Jan 2009
Location: Brisbane, Qld
Posts: 285
Re: Losing Job and Banks
No don't think they'll try to cash the cheque for full amount - as long as they are getting there regular/monthly payments.
Hope it works out.
just read your last post - heard the banks were checking on people - we had one visit last week - to our house:curse:
Hope it works out.
just read your last post - heard the banks were checking on people - we had one visit last week - to our house:curse:
#9
Re: Losing Job and Banks
HSBC has reduced Mr Kitty's CC limit with no warning... do they know something that we don't?!
#15
Re: Losing Job and Banks
I have a colleague who was called up and told if he clears off his HSBC card by the end of March he will get a 15% reduced off money owed.