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Sirius

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  1. Great. I am really grateful for your advice and will despatch letters, as suggested. I'll doubtless be back for more more of your sound guidance should I get any further communications from them - I'm pretty sure they won't give up too easily. Thanks again.
  2. Fantastic! You've eased my and more importantly my wife's minds considerably. I'll write as you suggest and post any replies they may send (I don't suppose they'll give up easily!) I am very grateful.
  3. In circa 2000, unknown to me my wife managed to get into a financial tangle after becoming redundant which resulted in her going overdrawn on a current account with the HSBC. She was continually stung with penalty charges which dramatically increased the amount owed (an original overdraft of something like £2000 is now a debt of £6300, even after 9 or so years regular payments). HSBC then apparently offered her a personal loan to pay off the overdraft (all over the telephone - no paperwork). She accepted the 'offer' and of course, she was unable to keep up on the repayments, the debt spiralled and ultimately ended up assigned to CL Finance in September 2007. I became involved when my wife owned up to me and told me CL were putting her under severe pressure to keep increasing repayments she could not afford. My first move was to try to determine indebtedness and how much was due to penalty charges, which was impossible due to lack of paper trail. At this time I am sure anyone could have written to my wife demanding money and she would have been so frightened she would have paid without any query. Because I could not verify how much the original debt or charges were for, or indeed find any details whatsoever I CCA'd CL Finance in March this year. They failed to respond until this morning when they sent a letter (plus the usual red-print Final Demand for the whole outstanding balance). They acknowledged my CCA request and have stated that 'this account is an amalgamation of personal loan and an overdraft' and they state, an overdraft is exempt from Part V of the Consumer Credit Act 1974 because an overdraft does not require a formal written agreement to be enter into, therefore there are no documents available. In respect of the personal loan element, they claim the HSBC has reported to them that as the agreement was opened more than 6 years ago they, the HSBC, have no documents available because they are not obliged to retain records after 6 years. This, they report, does not make the original agreement void or unenforceable. However, my wife is certain she never signed any agreements whatsoever anyway. Is a debt that cannot be verified properly enforceable? We have no idea whatsover what the original amounts involved were for and how much has been added in charges, and how much has been paid. Any advice would be most helpful.
  4. In circa 2000, unknown to me my wife managed to get into a financial tangle after becoming redundant which resulted in her going overdrawn on a current account with the HSBC. She was continually stung with penalty charges which dramatically increased the amount owed (an original overdraft of something like £2000 is now a debt of £6300, even after 9 or so years regular payments). HSBC then apparently offered her a personal loan to pay off the overdraft (all over the telephone - no paperwork). She accepted the 'offer' and of course, she was unable to keep up on the repayments, the debt spiralled and ultimately ended up assigned to CL Finance in September 2007. I became involved when my wife owned up to me and told me CL were putting her under severe pressure to keep increasing repayments she could not afford. My first move was to try to determine indebtedness and how much was due to penalty charges, which was impossible due to lack of paper trail. At this time I am sure anyone could have written to my wife demanding money and she would have been so frightened she would have paid without any query. Because I could not verify how much the original debt or charges were for, or indeed find any details whatsoever I CCA'd CL Finance in March this year. They failed to respond until this morning when they sent a letter (plus the usual red-print Final Demand for the whole outstanding balance). They acknowledged my CCA request and have stated that 'this account is an amalgamation of personal loan and an overdraft' and they state, an overdraft is exempt from Part V of the Consumer Credit Act 1974 because an overdraft does not require a formal written agreement to be enter into, therefore there are no documents available. In respect of the personal loan element, they claim the HSBC has reported to them that as the agreement was opened more than 6 years ago they, the HSBC, have no documents available because they are not obliged to retain records after 6 years. This, they report, does not make the original agreement void or unenforceable. However, my wife is certain she never signed any agreements whatsoever anyway. Is a debt that cannot be verified properly enforceable? We have no idea whatsover what the original amounts involved were for and how much has been added in charges, and how much has been paid. Any advice would be most helpful.
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