1st Credit - please help

[chumbers]

Re: 1st Credit - please help

Hi Niddy - would it be a mistake to also send a SAR to HSBC? I have looked over some charges etc and I have been charged £80 in some instances on over limit fee.. etc.

[Never-In-Doubt]

Re: 1st Credit - please help

Yes send for a cca. Do it in any name if it's joint a/c - ie only one per account.

[chumbers]

Re: 1st Credit - please help

Should I go ahead and send a CCA to 1st ?? I note they sent the letter on 4th which arrived on 10th December...

If so - any pointers on which template?

Thanks

Chumbers

[Never-In-Doubt]

Re: 1st Credit - please help

1st Credit usually take over the reporting from the OC so it may well reappear in the coming weeks using the original default date but with 1st as the creditor.

Id not bother too much about your credit file, it's pretty irrelevant in the grand scheme of things

[chumbers]

Re: 1st Credit - please help

I have just checked my credit file and it looks like HSBC have deleted my credit entry with the default on 21/11/2014.

Nothing on there from 1st credit. I wonder if this has any significance....

Would be good to get your thoughts if you have experienced this.

Thanks
Chumbers

[chumbers]

Re: 1st Credit - please help

Ok that's great.

I have a tendency not to speak to people on the phone so I'm comfortable with that.

I'll wait to hear from Niddy and see what the best way forward may be. In the meantime, I think I will dig out some paperwork and see what I can find out for where the amounts were made up from.

Thanks

[cymruambyth]

Re: 1st Credit - please help

Hi, welcome to AAD. Follow Niddy's advice on this; responses may not always be instant, but don't do anything without help as the wording of a letter can have a big impact. Do not speak to anyone on the phone.

[chumbers]

Re: 1st Credit - please help

Ok, don't send anything yet - can you confirm is the new amalgamated loan a single joint loan then in both your names? Can you clarify the exact date in 2007 it was amalgamated? Was it done over the phone or in branch and were both you and your wife present throughout the whole amalgamation process?

Thanks

Hi Never-In-Doubt,

The account is amalgamated into a single unsecured loan - in a joint account. It was previously a combination of joint account overdraft and personal loan although I am pretty sure there was some PPI involved which is why I suspect they changed the contract and I'm pretty sure a master card business account (need to check this as if this is the case, they've mixed business into personal joint account during amalgamation).

The date was July 2007 - it was agreed over the phone, they sent the paperwork for us to sign and send back. They only spoke to me not my wife at the time.

Does this help anything?? I am wondering whether a CCA would be my first call of action and see what they provide in order to buy some time and check out my paperwork if I still have it (which I'm sure I do). I recall filing the statements into the loft - but not the original agreement which was a large part of the amalgamation amount.

Thanks for giving immediate advice... this is extremely helpful!

Chumbers

[Never-In-Doubt]

Re: 1st Credit - please help

OK - thanks for this. I have suspected this - it was amalgamated in 2007 when I was 'not-so-wise' to what the future may bring.... you are correct that it was a consolidated loan. it does surprise me that it has been passed around (probably at a fraction of the cost) and why HSBC didn't pursue.....

I think there are various charges that have been excessive which I may also be able to request. I have all my statements dating back to 2001.

Do I CCA the OC or 1st Credit? Is this as a joint letter or just for my wife - in whose name the letter arrived.

Many thanks once again.

Ok, don't send anything yet - can you confirm is the new amalgamated loan a single joint loan then in both your names? Can you clarify the exact date in 2007 it was amalgamated? Was it done over the phone or in branch and were both you and your wife present throughout the whole amalgamation process?

Thanks

[chumbers]

Re: 1st Credit - please help

OK - thanks for this. I have suspected this - it was amalgamated in 2007 when I was 'not-so-wise' to what the future may bring.... you are correct that it was a consolidated loan. it does surprise me that it has been passed around (probably at a fraction of the cost) and why HSBC didn't pursue.....

I think there are various charges that have been excessive which I may also be able to request. I have all my statements dating back to 2001.

Do I CCA the OC or 1st Credit? Is this as a joint letter or just for my wife - in whose name the letter arrived.

Many thanks once again.

[Never-In-Doubt]

Re: 1st Credit - please help

Hi

First off send a CCA request asap - you must do this, although when they amalgamated everything, I am presuming they did it into one big new loan? If so then you kinda screwed up signing anything and agreeing to it - however they might have covered all angles because they will not need to provide the older agreements now, only the new borrowing which you agreed to

It's not looking good I'm afraid, based on the fact you agreed to amalgamate all your accounts into one 'new' account.....

[chumbers]

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