Hi all, I've had a loooong running dispute with HSBC regarding a managed loan, got the Ombudsman to look into it last Feb, but in the meantime problems... HSBC say they will hold all action on my account until the FSO have looked at everything, but no. I get letter after letter from Metropolitan Collections (a DCA) demanding full payment. I write to HSBC who say 'sorry, our mistake, we'll stop all letters from Metroploitan' and then find out that they've closed my account down! I didn't receive a single letter saying this was going to happen and this took place while the FSO was still going over my case. Anybody have any advice as to what I should do next? Cheers in advance KJ

Yes they did and also with the 'liberty to restore'.

HSBC have decided to go ahead and close the acc... They totally ignored my latters asking what legal grounds they had to close it down (at the advice of the FSA). As well as contacting the FSA, I have also emailed the Ombudsnman, called OFT and Trading Standards and all are about as useful as a chocolate teapot. Or a bank. I've also been in touch with Watchdog at the BBC. Perhaps I'll go to the national press next. I've had it with HSBC. KJB

Well, Egg have appointed new solictors to sort this mess out and guess what? They are offereing full settlement! Fingers crossed I'll have payment in the next few weeks! Will keep you posted! KJB

bump! Please, anybody?

Hi Zoot, Yep it has been allocated to the multi tarck but stayed pending the outcome of Ladymoonray's Paragon nightmare. What joy. KJB

Heres a pickle. After finally getting rid of the horrible Capquest last year, the Eggy ones have now put ARC (Europe) on the case as debt collectors. So, after winning with the 'prove you own the debt' CCA letter to CQ last time it was used again with ARC as they were getting seriously heavy handed with the phone calls and bad attitude. CCA letter was sent to ARC on the 15th Jan then a week or so later a letter from Trevor Munn Solicitors shows up saying that unless a payment is made they will, on behalf of ARC, begin court action and that we would be liable for costs of upto £340! The suspicious thing is, in the Trevor Munn letter we are instructed to contact ARC themselves and not Trevor Munn... The other dubious detail is that both ARC and TM are based in Walton On Thames. Coincidence or are they one and the same? I've heard that some DCA's pretend to be solicitors and attempt to 'frighten' the unsuspecting consumer into paying up. Also, ARC have failed to produce any kind of signed CCA or deed of assignment. Has anybody ever had any dealings with these people and can anybody confirm if they are two seperate companies or actually one and the same? Egg's tactics are getting worse. KJB

Thanks for that Zoot! Got it. Obviously you'll all be aware of the Ladymoonray Vs Paragon tale, to which I was also party too at court a few weeks a go. It's sad to hear Lady M is not going to continue with the fight but I can totally understand her reasons. Paragon's solicitors are a real slimy bunch and the stresses are many. However, as my case was stayed at that hearing, I do think there may well be slight room for progress because of one very key factor. The ERC I have gone after, as I think I have mentioned elsewhere, is listed on the statement I received from Paragon as 'Penalty Int. On Redemption' and it's because of this very specific wording that my case has been treated differently. At the court Paragon's solicitor said that because of this my case was 'unusual' and that the document I received could possibly have been sent in error because of the 'admission' it was indeed a penalty... But this is where it gets murky. Having spoken to P's solicitor and valiantly put my case to the judge that it says penalty so thats what it is, the solicitor retorts that 'just because it says penalty doesn't meant in the eyes of the law it will be viewed as a penalty'. That seems very much like moving the goal posts to suit themselves if you ask me. Because my case is significantly different because of this little tiny word, I don't think it should have been stayed, and argued as such, but the judge decided otherwise. I did suggest that it would be like saying the sky is actually pink when obviously it is blue. "We can SEE the sky is blue". "No, even thougn we can SEE it's blue, you are mistaken. Its pink. The law says its pink". Arrgh! The frustration! So I have this paperwork with this very specific term on it that could make or break the whole case... and it got stayed pending the outcome of Lady M's case which now won't happen. So my questions are these: Does anybody else out there have the same definition on their stament as I do? Does yours also say 'Penlaty int. On Redemption'? It would be interesting to see! Also, where the heck do I go from here now? It would seem that as Lady M is not proceeding I could be in line to try my hand in court. Anybody got any much needed suggestions? PLEEEEASE?

We have a recent development with my managed loan debacle: HSBC have now demanded full repayment and when I went to use my card in one of their cash points yesterday it got retained... upon asking why I was told because the ML has been 'called in'. I was given no indication in any correspondence from them that my card would be retained just because of the ML. Maybe it has something to do with a 2nd claim I have against them so now they are playing even dirtier. Gotta love 'em.

I think I'll just report them to the FSA and be done with it. It's the principal that counts and that they shouldn't be allowed to get away with this sort of thing.

Also it may be useful if we could try and get a figure together to see how many of us poor HSBC 'customers' have been lumbered with a managed loan, I think it may have been been talked about elsewhere on this thread somewhere. Perhaps if the FSA, OFT or Ombudsman knew how widespread a problem these things are then action to stop HSBC ruining thousands of other people's credit files and lives might actually be slowed or even be stopped for good. Not sure how we can go about compiling a list, maybe someone out there knows? The more I think about managed loans and having to deal with such a useless bunch of money grabbing, life ruining halfwits (and thats being polite) the more my blood boils.

After many long months battling with HSBC to sort my managed loan fiasco out, I have received their final response (Iv'e been writing back and forth with them since August 2006) so now I am off to the Ombudsman. I am absolutely sick to death of this whole thing, they forced me into the ML because of their own uselessness: I have asked on countless occaisons that the full circumstances be taken into account (I was pushed down the ML route because of HSBC forcing me overdrawn by allowing an £800 S/O when just the previous month they returned unpaid due to insufficient funds an amount far, far less). It seems they can make it up as they go along. They'll allow you overdrawn by almost a grand so you get into trouble but when it comes to a much smaller sum they'll return it unpaid and add charges too. Lucky me. Incompetant staff, inconsistent decisions, blanket refusals to assist and sheer arrogance have been following me about since this mess went critical last year. Well, I am not stopping till it's sorted out. Watch this space kids.

Well, good ol' HSBC are going to close our joint account because we are apparantly unwilling to adhere to their terms and conditions... In other words we got a refund once and now after going after less then £130.00 they have decided to end our relationship. Ok, a parachute account was set up way back during the first claim just in case this happened so no problem there. It is purely retaliatory action, but is there anything we can do to stop them closing the account? Can the FSA or OFT get involved with this sort of thing? Any advice warmly welcomed!

Hi all, Been out of the loop for a while having my tonsills out and a 'nose job' to sort out my snoring, much to the delight of my wife! I also have heard from the court (in Tunbridge Wells) with an AQ hearing of the 24th of January. Lady M, I'll no doubt be seeing you there too! Also, I agree with you about the tone of Paragon's solicitors, talk about trying to put the frighteners on you. More as it happens and see you on the 24th!