HSBC combined debt

[Rascaljesse]

Re: HSBC combined debt

I've had one of those many many years ago, I've not actually spoken or entered into anything since the original regulated loan!

[Never-In-Doubt]

Re: HSBC combined debt

Ok.... so it does look like this one's been sold by Absolute Assignment. This means that HSBC have no further interest in it but do have to respond to a SAR request from you regardless because it is a legal request with a specific timeframe for compliance.

If you could scan up your reply from the DCA (blanking out all personal details) or, type up precisely what they've written, this would help me/us to point you in the right direction with this.

Sorry just to clarify. All dca's purchase toxic debts with a specific term whereby they have right to recourse (return to OC for a refund) if a serious complaint arises.

Hence be careful with the attitude of absolute means "final" as it rarely does. Some will just sell it on again. But usually it'll go back to the OC who will split them and resell as individual accounts again.

Confusing but standard process.

[Never-In-Doubt]

Re: HSBC combined debt

A debtor would need to sign fresh paperwork to amalgamate; often called a consolidation loan. Can you remember ever signing new paperwork to consolidate these debts?

HSBC call them Managed Loans. Ring any bells?

A managed loan restructuring deal? No...?

[Rascaljesse]

Re: HSBC combined debt

In response to my cca request the dca have replied with
"There is no agreement for the above as it relates to a current account which provides no credit and is not regulated under the consumer credit act 1974.
We have requested a statement or account from the original creditor and will forward..."

[PriorityOne]

Re: HSBC combined debt

The loan is post 2007 8k
Overdraft , regular account 2k
I received a hello letter from dca, saying they have bought 10k account, with a different account number .
Goodbye and assignment letter from HSBC (for the combined amount) obviously from the dca.
I have cca'd the dca ,
They have responded by saying the account is not regulated.

I know that HSBC do this quite a lot, and I am just wondering if the dca decides on litigation do they simply return to the details of the original accounts. Or could it be that they are stuck with the new ( hopefully unenforceable account)

Ok.... so it does look like this one's been sold by Absolute Assignment. This means that HSBC have no further interest in it but do have to respond to a SAR request from you regardless because it is a legal request with a specific timeframe for compliance.

If you could scan up your reply from the DCA (blanking out all personal details) or, type up precisely what they've written, this would help me/us to point you in the right direction with this.

[PlanB]

Re: HSBC combined debt

Action plan -

1. Get SAR
2. Speak to p1 and follow suit
3. Relax

How hard is that?

Simples

[PriorityOne]

Re: HSBC combined debt

Definitely not, I'm thinking that if I wasn't party to a new agreement then it might be that they can revert back the old ones?
I soooo hope not

Not if it's been sold under one account ref. no. This is why you need the SAR info because it should tell you what they've done.

Meanwhile, the DCA needs to respond to your CCA request. An overdraft is still covered by a different part of the Consumer Credit Act. Are they implying that the whole debt is an overdraft? the more you can get them to cough up in writing, the easier it gets to tie them up in knots.

Let me re-read what you said they told you in the beginning of this thread....

[Rascaljesse]

Re: HSBC combined debt

Definitely not, I'm thinking that if I wasn't party to a new agreement then it might be that they can revert back the old ones?
I soooo hope not

[PriorityOne]

Re: HSBC combined debt

Could anyone offer an opinion on this,
in laymans terms does this mean that if two accounts are terminated and amalgamated before being sold to a dca, should it require the debtor to enter into a new agreement or can the oc or the dca simply rely on the previous agreements to enforce?
Thanks

A debtor would need to sign fresh paperwork to amalgamate; often called a consolidation loan. Can you remember ever signing new paperwork to consolidate these debts?

[PriorityOne]

Re: HSBC combined debt

Wrong person to get clever with. As they learned, you know your stuff so argue at their peril ()

Was yours HBOS or HSBC?

It was neither of those actually. The OC in my case got taken over by Santander some time ago....

[Rascaljesse]

Re: HSBC combined debt

Could anyone offer an opinion on this,
in laymans terms does this mean that if two accounts are terminated and amalgamated before being sold to a dca, should it require the debtor to enter into a new agreement or can the oc or the dca simply rely on the previous agreements to enforce?
Thanks

[Never-In-Doubt]

Re: HSBC combined debt

Yea just update/refresh as they're 5 years old

Dusty.... Get that foreign thing to women out. I think it's called polish

Thanks

[PriorityOne]

Re: HSBC combined debt

You know I feckin hate HSBC. Anything we can do to screw the feckers - I'm game.

P1 are you ok helping out with this? When you sort templates could I get a copy for AAD please then they're handy for access and other users in similar position

Thanks

Yep... no worries

I've still got copies of all letters I've ever used, so any templates should be easy.

[Never-In-Doubt]

Re: HSBC combined debt

They might have included it in with the SAR.... can't remember.... but it took bloody ages to plough through everything because there were three accounts going back some time.

I do remember they fecking hated me though. They tried all kinds of sneaky manoeuvres to get me on the phone to discuss it al but I kept telling them to piss off. As you do.... lol!

Wrong person to get clever with. As they learned, you know your stuff so argue at their peril ()

Was yours HBOS or HSBC?

[Never-In-Doubt]

Re: HSBC combined debt

You know I feckin hate HSBC. Anything we can do to screw the feckers - I'm game.

P1 are you ok helping out with this? When you sort templates could I get a copy for AAD please then they're handy for access and other users in similar position

Thanks