According to an email from P2P, I received a "notice of debt referral" and they go on to say your account has been referred to a 3rd party debt-collection agency. I assume that means P2P still own the debt and it hasn't been sold on. I just re-read the email advising referral of debt. It states I borrowed £1150, have repaid £990.56 and currently owe £994.29 (not that it relates to who owns the debt).

Hi All, I need some advice please. I had several payday loans from 2012 -December 2015, but this query relates solely to P2P/ARC I had a QQ loan, which I defaulted on back in 2012, reached a payment arrangement and settled in full around April 2013. Had a major issue and took out a P2P loan in/around November 2013 and they advanced £1050.00. I made 2-3 payments, but then defaulted. Balance outstanding is now £910.00, they have passed the debt to ARC Europe, who call daily from a 1000 different mobiles but to date I have ignored all calls. P2P advised the debt was passed on to ARC for collection, not sold. ARC last week sent me an email, which began with "without prejudice". they then went on to ask me to contact them to agree a much reduced settlement figure, or to agree weekly payments as low as £2.50 a week. The email went on to say that if I did not respond within 10 days the account would be passed to their solicitors for them to consider court action and there would be no further correspondence in this regard. Needless to say, they still call daily. Is there anything I should be doing, will I receive a letter before action from solicitors or would this letter constitute a LBA? Thanks in advance.

Dont have advice on the VT/Surrender etc. I recall years ago PCF having a booster loan, this was because due to their internal policies, they could only fund x% of book value, but would offer a separate booster/personal loan to make up the difference. So if a car was £10k, customer had a £1k deposit, their book value said £8k, they would offer £8k on a HP/conditional sale agreement and the additional £1k the customer required on a booster loan (personal loan) agreement.

Thanks for your advice/help Bazooka, will be back once I have the SAR

I haven't taken any calls or responded to Wescot. I have switched to another bank and have not used the HSBC account since December 2013. I don't have a full statement of account, so will send a SAR and then I will come back with the info I receive from HSBC. Will I have grounds to use the hardship rule? (I will do some searching on this) - they should have been aware, as there were also payday loans on the account, which I assume indicate financial difficulty

Hi All, Looking for some advice please (I have a number of debts I am looking to gain control of), I will start one at a time and create a separate thread for each. I had an HSBC Advance current account from 2009 - 2014, during this time on several occasions, HSBC allowed me to go into an unauthorised overdraft and charged significantly (many times charging £100 - £150 for this "priveledge") - admittedly my poor account management was to blame for the situation, but ultimately meant every month my account would go overdrawn by up to £150, most times made up solely from the charges from the previous months unauthorised borrowing charges. On one annual statement, I had paid over £1200 in bank charges, majority of these for unauthorised borrowing. Now there is some background, in December 2013, the same thing happened, but this time I decided I would not pay the charges (not very smart) and I would open another bank account with a different bank. HSBC then added more and more charges to this till the point the account reached £727 made mostly of charges. Like a fool, I simply ignored HSBC and buried my head in the sand. The account was defaulted in June 2014, I then started making payments to HSBC and the outstanding balance dropped to £646 until 3 months ago, when I ceased making payment and more recently Wescot are writing and calling chasing this debt. I have looked through threads on this site, but most deal with loans or credit cards, but I know a bank account works differently. Is there any way to challenge the charges that HSBC placed on the account, or should I simply resign myself to slowly paying off this debt? Thanks in advance