HSBC combined debt

[Never-In-Doubt]

Re: HSBC combined debt

.......I'd best put the shampers back in the fridge then

I'm all for being optimistic but I'm also used to process so sadly things rarely turn out as you expect. You will get results but sometimes you won't. It's easy to remedy any error prior to a claim so as there's no claim forthcoming they can sell it to joe blogs, his aunty, her cousin and back to Niddy if they wanted.

You couldn't do shit. So long as they kept you informed with the correct paperwork.

Just see what the SAR brings. P1 is good at this shit so if she can blag it for you then great. No promises and no false hopes. One thing about me/AAD - we do t say what people WANT to hear. We say what people NEED to hear

You'll be fine. Let's get this SAR sorted. In the meantime write back (regards cca) with the above

[Never-In-Doubt]

Re: HSBC combined debt

Yes... I have experienced this as well but once the account was returned, all that's ever been sent out since are Notice of Sums in Arrears sheets every 6 months or so. This has been going on for about 3-4 years now on one of my other accounts. I've yet to experience an account being returned post-challnege and then being enforced once more by the OC but I'm sure some do try it on.

^^^^ see above. I've explained a bit better. As I say let's see what happens. Rascal is in very capable hands with you

Go get em. You need a new scrap I think. Lol. Keep you on your toes.

[Rascaljesse]

Re: HSBC combined debt

BIG THANKS for tonight's education,

[PriorityOne]

Re: HSBC combined debt

^^^^ see above. I've explained a bit better. As I say let's see what happens. Rascal is in very capable hands with you

Go get em. You need a new scrap I think. Lol. Keep you on your toes.

Yeah... it's been a while since I p*ssed someone off....

[PlanB]

Re: HSBC combined debt

BIG THANKS for tonight's education,

What did you discover when your SAR came back from HSBC Did it show whether you had agreed to combine these two accounts before they sold them to a debt purchaser? Hopefully not

[Rascaljesse]

Re: HSBC combined debt

What did you discover when your SAR came back from HSBC Did it show whether you had agreed to combine these two accounts before they sold them to a debt purchaser? Hopefully not

I'm still waiting on the SAR, it should be any day now, I definitely did not agree to the combining of the accounts, and all I know at present is that the amount is definitely an amalgamation of accounts with the larger amount being a personal loan, when I cca'd the dca they said it was an unregulated account with no cca and they are contacting the oc for more details, as soon as I get the sar info I will post again!!!
Thanks

[Rascaljesse]

Re: HSBC combined debt

Well they they definitely amalgamated my account the interest that would have been payed if the loan had run full term was knocked of the total and the remainder was added to my current account/overdraft.
If this applies to me.......
82 (2) Where an agreement (a "modifying agreement") varies or supplements an earlier agreement, the modifying agreement shall for the purposes of this At be treated as:-

a) revoking the earlier agreement and

b) containing provisions reproducing the combined effect of the two agreements, and obligations outstanding in relation to the earlier agreement shall accordingly be treated as outstanding instead in relation to the modifying agreement.

Basically ...... What does it mean ?
Are they stuck with this new arrangement, or can they simply revert back to the terms of the original accounts?
Thanks

[PriorityOne]

Re: HSBC combined debt

Well they they definitely amalgamated my account the interest that would have been payed if the loan had run full term was knocked of the total and the remainder was added to my current account/overdraft.
If this applies to me.......
82 (2) Where an agreement (a "modifying agreement") varies or supplements an earlier agreement, the modifying agreement shall for the purposes of this At be treated as:-

a) revoking the earlier agreement and

b) containing provisions reproducing the combined effect of the two agreements, and obligations outstanding in relation to the earlier agreement shall accordingly be treated as outstanding instead in relation to the modifying agreement.

Basically ...... What does it mean ?
Are they stuck with this new arrangement, or can they simply revert back to the terms of the original accounts?
Thanks

Naughty naughty..... they appear to have created a shiny new agreement to suit their own agenda. It's worthless because it doesn't really exist; not in the legal sense anyway. Once they realise you know how it all works (or should work), the DCA should hopefully just feck off.

I have a very busy week at work this week..... how quickly do you need something drafted up? Are you still being harassed or have they backed off for the time being? Do you have any statements that show what the balance was before accounts were amalgamate and sold?

[Rascaljesse]

Re: HSBC combined debt

No rush at all P1, am still waiting for a response from my cca request, interestingly I have also found a threatogram from the in house chaps for the current account before the early closure amount from the loan account was added to it,
Thanks

[Rascaljesse]

Re: HSBC combined debt

......yes have statements too!!

[PriorityOne]

Re: HSBC combined debt

No rush at all P1, am still waiting for a response from my cca request, interestingly I have also found a threatogram from the in house chaps for the current account before the early closure amount from the loan account was added to it,
Thanks

......yes have statements too!!

Excellent!

[Rascaljesse]

Re: HSBC combined debt

Hi all, have received statements of account for OD and loan, (dca have said that this relates to overdraft, so no cca)
what now!!!
Can they get an SD with this? Or does the consolidated amount need to be sent back to the OC ? Thanks

[Rascaljesse]

Re: HSBC combined debt

.....it would be nice if, when the OC sold the accounts, the dca were stuck with the amalgamated amount, ... Does the OC have to seperate the accounts or can the dca chase them wholly before separating them themselves for enforcement ???
....anybody ??? Thanks again

[PlanB]

Re: HSBC combined debt

Does the OC have to seperate the accounts or can the dca chase them wholly before separating them themselves for enforcement

I'm also looking for legal clarification on this point.

This is a HSBC O/D and a HSBC personal loan which was amalgamated by the bank before they sold it to Marlin. Is that right?

(Marlin are a debt purchaser not a DCA BTW)

[Never-In-Doubt]

Re: HSBC combined debt

.....it would be nice if, when the OC sold the accounts, the dca were stuck with the amalgamated amount, ... Does the OC have to seperate the accounts or can the dca chase them wholly before separating them themselves for enforcement ???
....anybody ??? Thanks again

Ok to my knowledge accounts usually get amalgamated at point of "package sale" or for simple accounting by a firm. Usually a creditor will bundle a persons liabilities and sell the combined debt as one account. However usually there's a buyers caveat that allows recourse to the seller at point of query. 1st Credit do this. Basically what happens is you argue the debt and the buyer (a DCA) requests recourse from the OC (the seller). The OC would then split the debts and provide full details to the creditor.

They CANNOT merge several debts into one and then enforce under one claimed amount as they'd have to state the debt was a regulated agreement and provide the type of credit & original account number. If this was a bank account, card & loan then it'd be a loss for the idiotic claimant each time. What agreement & terms would they send at CPR time? Lol

So what can (and does) happen is they bundle debts into one overall account but on any claim form it'd split the debts in the POC showing each type of debt & a/c ref etc with one overall claimed amount.