HSBC combined debt

[Rascaljesse]

Can anyone offer any advice on........ if a bank combines an overdraft and personal loan account ( in my case HSBC) before they sell it to the dca ,
1 does the new account replace the old one, (should any litigation be directed at this account?)
2 or can the dca simply ignore this new account and rely on the old accounts
Thanks

[Undercover Elsa]

Re: HSBC combined debt

Hi Rascaljesse,
It's difficult to answer without more details.
How were the accounts combined? Eg Did they add the loan balance to the Overdraft or combine the two balances into a new loan agreement?
Did you sign a new agreement?
When was the original loan taken out?
What do they describe it as now..a loan or an overdraft?

[Rascaljesse]

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)

[Undercover Elsa]

Re: HSBC combined debt

Sounds well dodgy. See what Niddy has to say on this.
I imagine you'll have to send a Subject Access Request to HSBC to get to the bottom of it.

[Never-In-Doubt]

Re: HSBC combined debt

Yep you need to send advanced SAR to HSBC so you can establish the facts but it is regulated as HSBC usually merge toxic debts into a "managed loan" which you both agree to (assuming you're going to repay it).

If however they've just lumped the two accounts together purely to sell them as a package (to a dca) then each account would be split at the dca into regulated/unregulated.

A SAR will solve the queries. Oh by the way, the dca is talking shit cos your overdraft (not the bank account) IS regulated so regardless they need to address the cca request but for now ignore the dca and SAR HSBC.

[PriorityOne]

Re: HSBC combined debt

From memory, if accounts are amalgamated prior to being sold, it makes the assignment unlawful....

I had a similar experience some years ago when the cheeky bar stewards amalgamated 3 separate debts into a current account overdraft before selling the lot under that one same, single current account reference number. When challenged, the purchasing DCA dropped it/them like a hot brick but I would need to dig through my files to find the precise argument used before they backed off.

SAR to the OC should flush it all out but you may have to go through it with a fine tooth comb....

[Rascaljesse]

Re: HSBC combined debt

Thanks folks, I have requested a sar, I guess it would just be nice if they had shot themselves in the foot! Or better still the head!!!
Onwards and upwards!

[PlanB]

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)

Is this Marlin by any chance? They've just bought three of my HSBC accounts merged into one.

1. A current account opened in 1990 (£1.5k overdrawn with no paperwork admitted)

2. A loan account (£5.5k opened 1998 with no CCA admitted )

3. A savings account in credit by £6

They've merged them all under the savings account reference which is weird.

It's been around 5 DCAs and now sold to Marlin. They also told me the debt's not regulated so I told them it was a loan (well it mostly is). Still waiting to hear from them

[PlanB]

Re: HSBC combined debt

From memory, if accounts are amalgamated prior to being sold, it makes the assignment unlawful....

I had a similar experience some years ago when the cheeky bar stewards amalgamated 3 separate debts into a current account overdraft before selling the lot under that one same, single current account reference number. When challenged, the purchasing DCA dropped it/them like a hot brick.

This would be really good news for me and really bad news for Marlin if I can substantiate it

Would Paul gives us his view because it would be nice to establish the legal bottom line on these combined accounts

[Rascaljesse]

Re: HSBC combined debt

Yep, it's them!
I also have a cc with them but its assigned as a different account, have they said that they are asking for a statement of account?
Have you sar'd the bank?
Do you know who combined the accounts? Marlin, dg, HSBC??

[Rascaljesse]

Re: HSBC combined debt

Would Paul gives us his view because it would be nice to establish the legal bottom line on these combined accounts [/QUOTE]

Agreed.

[PlanB]

Re: HSBC combined debt

I also have a cc with them but its assigned as a different account, have they said that they are asking for a statement of account?
Have you sar'd the bank?
Do you know who combined the accounts? Marlin, dg, HSBC??

The accounts were merged by DG (in-house HSBC) in 2009 when I went into a DMP. The Account in Dispute template has seen off five DCAs and two have helpfully provided letters saying "creditor has no CCA . . . we can't enforce". I've sent those to Marlin with the Account in Dispute letter. So far so good.

I haven't SARd yet because I've got all my paperwork and I know what went on. I'm happy for Marlin to believe my bluff that the whole debt is the loan (well 90% of the balance is/was). But the difference is my loan (element) is UE while sadly yours is post-2007

[Rascaljesse]

Re: HSBC combined debt

......I know
Was kind of hoping they wouldn't notice, based on the combined account thing!!!!
I think I should change my user name to ' straw clutcher'

[Never-In-Doubt]

Re: HSBC combined debt

You want Pauls view? I'll ask him

[PlanB]

Re: HSBC combined debt

......I know
Was kind of hoping they wouldn't notice, based on the combined account thing!!!!
I think I should change my user name to ' straw clutcher'

But you're clutching at the right straw if an assignment is void due to *combining* before it's sold on. I expect it will have something to do with the order of events with DNs and termination procedures

I'm interested because I don't see how a DJ can give me a CCJ on a debt when 90% of it (the claim) is UE and 10% is enforceable. No doubt DJ Henrietta Manners would find a way