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Hi,
First of all I wish to state how refreshing it is to find such a well organised forum with help on debt matters.
Here is my situation:
Had loan facility for a business taken out as a personal loan (unsecured) back in 2001. This was on a joint account for me and my wife. Loan defaulted in Aug 2010. Had other credit cards and loans but they defaulted, and some of them are now past the Statutory limit. HSBC re-consilidated the account and got me to sign a new agreement (felt a little heavy handed approach) for my loans, credit card with HSBC and overdraft. Original borrowing was approx. £20K. Total outstanding when re-packaged was approx. £18K. Current level is at £14K.
They have sent a collection letter in my wife's name, the account is joint.
HSBC were trying to collect the loan through DC Solicitors. I made arrangement to pay £50 per month - which was for approx. 1-2 years. DC Solicitors decided to stop collecting and sent me a letter saying they are sending it another collector who will deal with this. They wrote to me a couple of times, I did say to them I am happy to deal with OC as that's whom my agreement was with - they stopped and all went quiet for a few months.
I then received a letter from HSBC and 1st Credit, in the same envelope, both letters saying my debt has now been assigned to 1st credit and I should deal with them. This is in the last 2 months.
At first, I didn't respond as this is causing so much distress - but burying my head will not allow me to move on. I am a case of hardship and do not earn much. They sent me a couple of letter requesting politely to come to some payment arrangement which I largely ignored. The phone calls stopped and I have now received the following attached letter.
There are a lot of 'may, could' in the letter. I have never requested a SAR or CCA from a HSBC.
In peoples experience and opinions, I would ask what my response should be and whether I should try and see if this is unenforceable (and how to go about it) or whether I should come to some arrangement to pay (which would have to be minimal and take me the rest of my life).
Many thanks, I am sure you get these most days but it becomes difficult to decipher how to deal with this.
Can anyone help me with dealing with this and advising on what actions would be best to take.
Many thanks,
Chumbers
First of all I wish to state how refreshing it is to find such a well organised forum with help on debt matters.
Here is my situation:
Had loan facility for a business taken out as a personal loan (unsecured) back in 2001. This was on a joint account for me and my wife. Loan defaulted in Aug 2010. Had other credit cards and loans but they defaulted, and some of them are now past the Statutory limit. HSBC re-consilidated the account and got me to sign a new agreement (felt a little heavy handed approach) for my loans, credit card with HSBC and overdraft. Original borrowing was approx. £20K. Total outstanding when re-packaged was approx. £18K. Current level is at £14K.
They have sent a collection letter in my wife's name, the account is joint.
HSBC were trying to collect the loan through DC Solicitors. I made arrangement to pay £50 per month - which was for approx. 1-2 years. DC Solicitors decided to stop collecting and sent me a letter saying they are sending it another collector who will deal with this. They wrote to me a couple of times, I did say to them I am happy to deal with OC as that's whom my agreement was with - they stopped and all went quiet for a few months.
I then received a letter from HSBC and 1st Credit, in the same envelope, both letters saying my debt has now been assigned to 1st credit and I should deal with them. This is in the last 2 months.
At first, I didn't respond as this is causing so much distress - but burying my head will not allow me to move on. I am a case of hardship and do not earn much. They sent me a couple of letter requesting politely to come to some payment arrangement which I largely ignored. The phone calls stopped and I have now received the following attached letter.
There are a lot of 'may, could' in the letter. I have never requested a SAR or CCA from a HSBC.
In peoples experience and opinions, I would ask what my response should be and whether I should try and see if this is unenforceable (and how to go about it) or whether I should come to some arrangement to pay (which would have to be minimal and take me the rest of my life).
Many thanks, I am sure you get these most days but it becomes difficult to decipher how to deal with this.
Can anyone help me with dealing with this and advising on what actions would be best to take.
Many thanks,
Chumbers
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