HSBC combined debt

[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

[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

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

[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

[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

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

[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

[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

[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....

[Rascaljesse]

Re: HSBC combined debt

BIG THANKS for tonight's education,

[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.

[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

[PriorityOne]

Re: HSBC combined debt

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.

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.

[Rascaljesse]

Re: HSBC combined debt

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.

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

[Never-In-Doubt]

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..."

Ok I would simply write back saying

This was NOT a current account so I suggest you seek clarity from HSBC. I can categorically confirm there was several accounts and if they've been amalgamated into one then I suggest you speak to HSBC as the original creditor.

I have submitted a s.7 (DPA1998) Subject Access Request from HSBC which should clarify matters. However, in the meantime and in line with OFT Guidelines on debt collection, I suggest you place collection activity on hold until at least HSBC have complied with my SAR.

Regards

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