Credit Card Debt - Original Default notice 1996/7 ?HSBC

Debt Then held by Equidebt/payment plan in place until July2008

HSBC then Reassigned debt to Phoenix DCA

Question - If i make no payment can Phoenix Default me a second time on same Debt resulting in another 6 year wait re credit file

Your advice would be apreciated THANKYOU

REASSIGNMENT DOES this mean debt has been sold ??

You shouldn't just stop paying DCA without valid reason. Before taking any action perhaps you should research this issue a little more to ensure you claim your legal rights correctly -

1. Have you ever applied for a CCA from HSBC?

2. Have you received a notice of assignment from HSBC, both for the Equidebt assignment & now the Phoenix one?

3. Did you receive a default notice from HSBC in 1996/7? If so, have you still got it?

4. When was your last payment to Equidebt made?

5. Have you ever reclaimed any unlawful charges aplied to this account eg. late payment, over limit fees?

Reassignment can mean either that the debt has been sold outright (ie. DCA has all legal rights that the OC had) or transferred partially (the legal rights to the debt remains with the OC, the DCA just has collection authority).

Only one default can be issued against any one debt/account.

This is irrespective of the debt being sold or handled by any other party.

They could, if circumstances were right, proceed to court for repayment and this could result in a CCJ against you, but there are steps to take if that is the case and it is not a forgone conclusion.

They are not supposed to register a 2nd default with CRA after 6 years regardless if you have settled the debt or not, you cannot be defaulted for same debt twice

Thanks for your comments.

*Origanal cc agreement Midland Bank - Now HSBC 19.3 1987

*No requests made to date for CCA Proof

*Notice of assignment - HSBC verbally told me 15.8.08 that letter of assignment/notification sent to me 8.8.07 - sent to old address - have not lived there since 1997.

*I think HSBC issued Default notice 09/1995 -CAB involved

*Last payment to Equidebt July 2008

*No claims made for any unlawful charges

*During repayment period 1997-2008 no interest added to debt

**WHAT ACTION NEXT DO I make contact with Phoenix-Sarl-Marlin (marlin financial services/mortimer clark solicitors -all part of P-S-M I am told )

**Do I cca them before they strike at me ?

**Do i wait and see if they contact me

HELP PLEASE

Credit Card Debt - Original Default notice 1996/7 ?HSBC

Debt Then held by Equidebt/payment plan in place until July2008

HSBC then Reassigned debt to Phoenix DCA

Question - If i make no payment can Phoenix Default me a second time on same Debt resulting in another 6 year wait re credit file

Your advice would be apreciated THANKYOU

REASSIGNMENT DOES this mean debt has been sold ??

Yes because it is not linked to the original default.

If you take out a credit card making no payments after 6 months, a default can be put on your file. If you continue not to pay, no further default can be issued. But if you begin a new repayment plan and then stop, you can be defaulted for failing to comply to that agreement.

Am I missing The POint Last few posts have given contradictory views

Does any one know for sure??

Can i be Defaulted on the same Debt Twice if i do not keep to repayment plan?

It can be argued that i do not have repayment plan at present because i am waiting for Phoenix/Marlin to contact me.

Last payment made to Equidebt July 2008 100% repayment per plan with Equidebt since 1997.

if a debt is defaulted, and subsequently passed on/sold to a DCA, the DCA can update the current status of the default with the CRA, but a second default cannot be issued against the same debt, a complaint should be levied to the CRA and a request for the default to be removed, you may wish to bring the CRA's attention to the original default. as mentioned earlier, a debt cannot be defaulted twice.

Thankyou The concern for me was could a DCA issue a default on a Debt that had originally been Defaulted and was cleared from The CRA after 6 years If i have understood correctly No they cannot If they have i should complain to CRA IS there a Draft letter Do i need to refer to any legislation ? First CRA is clean i am awaiting the other two.Will keep you posted. Still no direct contact from P S M The new owner of the Debt.