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Desperate help wanted


Hypno-Dave
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Ok not sure if this is the right place to post this, but hopefully somebody can point me in the right direction.

 

where to begin.....

 

Right approximately 2 years ago I had a loan with HSBC which had payment protection. I then sufffered a heart attack which was pretty severe and lets just say hope was not on my side. The bank was informed of my situation to which they offered to freeze the account. Low and behold, would you believe it they changed their mind and now I am facing baliffs who are threatening to collect the outstanding debt plus charges.

 

What I would like to know is, can I and if so how do I get the bank charges lifted from the account.

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did the bank specify a time to which your account would be frozen till? Are you all better from your heart attack?

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have you still got the letters and statements that prove what you have said? if not you will have to do a Consumer Credit Act section 77 request and I would do a SAR at the same time so you can calculate exactly what charges and where they have come from and start a claim to recover them.

 

With a section 77 request they have 12 days to provide you with a copy of the original conditions governing your loan, if they fail to do this the account becomes in dispute and unrecoverable. If they continue for a further month they are committing a statutory criminal offense.

 

I would start your claim to recover the charges as soon as possible heres the thread

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/38807-newcomer-heres-user-guide.html

 

unfortunately if they bailiffs are in touch with you the bank must already have a CCJ against you so you need to move quickly and try to have the judgment set aside.

 

pete

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Unfortunately I received nothing in writing, just verbal assurances. Funny you should mention other departments it was another department that started all this.

 

Yep all better now thanks... well except for the large amount of money the bank wants :(

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If you are back at work now and your money is being paid into an account with HSBC, they probably took it upon themselves to start chasing for installments. Does it say anything in the payment protection insurance guide, that they should have given you when you took out the loan, about time limits?

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Unfortunately I received nothing in writing, just verbal assurances. Funny you should mention other departments it was another department that started all this.

 

Yep all better now thanks... well except for the large amount of money the bank wants :(

 

So you have not received anything at all! No claim forms from them telling you that they are going to take you to court for the money?

 

Glad you are better now.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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I think that Pete and I are posting at the same time.

 

 

I'll let you take over now Pete....X

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A prudent question is one-half of wisdom.

 

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Jowalshy, I'm not back at work yet and wont be until after Xmas. As for the payment protection it ran out after 12mths, although I have been paying towards the loan, but the bank puts more charges on which are more than the amount I pay. I have tried speaking to them but to no avail

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Have a read in the Bailiffs section of this site, are you sure they are bailiff's not just debt collectors? and if you have received nothing from the County Courts then just get your claim for return of the charges underway and from then on you can at least say the the debt is in dispute.

 

Any future legal action they take will also be subject to your own legal action.

 

pete

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Did they try and get you to up the repayments. If this goes on you will never pay the loan off. I think that you need to try and contact them and draw up a repayment plan. Try and make an appointment to see someone at your bank, that way you can sit down with someone and come to some sort of agreement. Hopefully this will then stop you incurring any more charges. I think that there is a template somewhere for an income/expenditure schedule you could use in order to show the bank how much you can afford at present to repay every month.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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Once you have sorted out a repayment plan you can then, as Pete says, go for a claim for the charges (thats if you don't get them to refund them when you see them)

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

:D

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Did they try and get you to up the repayments. If this goes on you will never pay the loan off. I think that you need to try and contact them and draw up a repayment plan. Try and make an appointment to see someone at your bank, that way you can sit down with someone and come to some sort of agreement. Hopefully this will then stop you incurring any more charges. I think that there is a template somewhere for an income/expenditure schedule you could use in order to show the bank how much you can afford at present to repay every month.

 

Yeah I tried that, one suggestion was a managed account... not sure if that would of helped. Don't even know what one is. Other than that they were no help.

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I have not heard anything nice about managed loans. I think that they tend to have a higher interest rate although I am not absolutely sure about that.

 

I have just been on the HSBC website and this is what they say if you have trouble making repayments on a loan:-

 

 

If you can't keep up the repayments on a loan, contact your lender immediately.

  • Together, work out what you can reasonably afford to pay. They may extend the term of the loan.
  • You may be able to suspend payments for a few months and make up the difference later.

Instead of going for a managed loan, have you tried extending the period of the loan?

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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Whatever you do, don't go near a managed loan. They will have you in their grasp forever more and the interest is unbelievable. Just ask Lateralus about them! She will point you to some fine examples of people who have had them. You will be in tears reading the threads. I will try and find them.

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Do you still have the original application for the loan and also the payment protection booklet they should have given you? Did they just freeze the account when you took ill or did they pay out anything?

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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If it was the SAR you have just sent, then they will now have 40 days in which to comply. If you sent the SAR purely to get info on your account and you already have all the details of all of the charges that they have applied to your account, then you can start the preliminary request for repayment of those charges back. Here is the link to the prelim letter:-

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/671-2-letter-preliminary-approach.html

 

you will need to adjust it to suit your needs.

 

If you don't have details of all the charges, it might be worth popping into your local branch and asking for a printout of the account.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

:D

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