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HSBC sell Debt to Cabot


lewis94
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I have a number of accounts that I am paying back on an agreed debtmanagement plan, one being a credit card with HSBC.

 

The dilema I am in is that all the other companies have changed the status of my account on experian to Special Instruction Indicator: Arrangement and I have been paying them upto date for over a year now. All this is showing a green symbol.

 

In trying to rebuild my credit rating and finances etc HSBC Credit Card have not changed this, yet they accept my payment of £x.xx per month and have frozen the interest (although it it with MCS) This still shows as a red symbol

 

Is there anyway I can get them to alter this to relfect I am on an agreement and that I have kept up with monthly payment?

 

The arguement they came back with before was that they wanted more than triple what I offered to and am currently paying and therefore did not accept the agreement?? Yet they have settled for a reduced amount and have done so for some time

 

Any thoughts please?

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The first step has to be asking again.

It sounds as if it's sometime since you have been paying regularly, so they might say yes.

Send a copy of your file showing all the other companies status - it might shame them into following suit.

 

If they say no, you've lost nothing more and to be honest I think you'd be struggling to challenge them by any more formal means.

 

 

Credit reference files are notoriously difficult to challenge.

RMW

"If you want my parking space, please take my disability" Common car park sign in France.

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  • 2 months later...

Following advice from a forum member to another post I sent a CCA request to HSBC in December 2009.

I first got a letter back saying they were dealing with it.

22days after my original request I got a package delivered with loads of information.

 

The covering letter,

which I dont have a copy to hand,

starts by saying they dont have to provide a signed copy of my document or original terms and conditions under current law

but they attached updated copies of the CCA and random information all stamped and signed, poorly, on each page.

My original agreement was from 1996.

 

The letter goes on to say that the CCA is still enforceable even without a copy of the signature.

 

What would be my best move next?

I am trying to prove my current CCA is not viable and therefore stop them trying to take me to court every month even though I am on a debt management plan

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  • 7 years later...

I have today received a letter from HSBC saying that my credit card account debt has been sold to Cabot as of July 2017 and I should arrange to continue to pay them not HSBC and HSBC will not correspond with me anymore.

 

This relates to a credit card that defaulted in 2011 and I have been paying them back an agreed sum of money each month and always maintained payments.

 

Having had run ins before with other collection companies I wonder if anyone could help with my concerns?

 

- My payment agreement is with HSBC and now Cabot now seem to want way more than I can physically afford and say that I need to complete a financial assessment to make a new plan otherwise they will take action

- The sums of money Cabot seem to reference seems excessive compared to what I think I owe. Can I somehow check what the values are and if they include any fees etc

- In buying the debt how does this affect my credit file. HSBC has not been showing on my CRF since January 2017?

- Should have I been notified of the sale of my account beforehand?

 

The last time I had to deal with Marlin it really made me ill from worry and I do not want to go through this again

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send them a CCA request

if its dropped off because the default reached its 6th birthday

the fleecers cant put it back up

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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merged a few old threads on this here

shame you didn't stop paying 7yrs ago when they failed the CCA request before....

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Yep. Sadly youve been fleeced for many years. The debt is wholly unenforceable. I can pretty much guarantee that, and youve been spoofed into paying when you didnt have to pay a single penny.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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