HSBC closed my account and passed my debt onto Metropolitan Collection Service

[themusic]

i had a student account with a £1000 overdraft but for some reason they converted it into a standard account and started chargining me intrest on the overdraft, this leads me into a bad hole as i start topping up the account around £50 a month but most of it ends up going on overdraft fee's.

i went into my local branch and they said they need a signed letter from my university to say im studying (this is during the large summer break) so i wait until university starts again but by this time HSBC closed my account and passed my debt onto Metropolitan Collection Service.

i ring them and explain how i am not working and i am a student etc and they ramble on to me about if i am not working how am i affording to eat etc i then agree to pay £100 a month to clear the £1000 debt and they say they will send me a card through the post to pay my debt at the post office, this was a month ago and after 2 more phonecalls from them moaning at me for not paying i still dont have the card to pay my debt.

I am sure they think that i am doing this on purpose but i genuinly have not recieved the card that they say they have posted twice now....anyway to my point, i have just had an installment of my student loan £930 do you think if i rang Metropolitan Collection Services and offered to pay them £930 they would forget about the £1024 i owe them or do they need the full amount?

[payingonlyencouragesthem]

Offer them a token payment, say £1 a month, and send them a budget sheet. Paying over your entire spare money isn't necessary or appropriate. I hope you have another bank account.

[ScarletPimpernel]

MCS are HSBC's in-house DCA. They also sometimes send out letters from 'Central Debt Enforcement Unit', but it's the same clowns. They will usually settle for a monthly amount. However, do not speak to them on the phone; get everything in writing.

 

Their usual practice is to accept a monthly payment, then regularly pester for it to be increased.

[themusic]

i have just got a job so paying the whole amount wouldnt be to bad on me, i just want the debt out of the way now, it has got to the point where i have to switch my phone off because they are ringing all the time, really early and up until around 9pm at night i wouldnt mind if it was a massive amount of money, i just think if i was a oap getting harrased like this it would lead them into an early grave

[payingonlyencouragesthem]

i have just got a job so paying the whole amount wouldnt be to bad on me, i just want the debt out of the way now, it has got to the point where i have to switch my phone off because they are ringing all the time, really early and up until around 9pm at night i wouldnt mind if it was a massive amount of money, i just think if i was a oap getting harrased like this it would lead them into an early grave

 

In that case just ask them what they would accept as full and final settlement (make sure you get it in writing). Try offering 50% and see what happens.

[sequenci]

you need your student loan for student things, like getting drunk a great deal.

 

CCA them and see what happens.

[bach]

Hi The Music, My son has problems with HSBC bank they also converted his student loan into an ordinary current account, which he had to pay higher interest on. They have also stopped his HSBC credit card for no reason, he's not over drawn and within his credit limit.

This morning he's had a letter saying that

 

" Quote they would not be re instating it and there decision is based on how he (my Son) has conducted his bank account."Un Quote

I should right and ask for a copy of your CCA as soon as pos

 

Good Luck

Lynn (Bach)

[themusic]

hi, whats a cca?

[bach]

Hi a CCA (Consumer Credit Agreement) is the original signed agreement you sign when you take out a loan . Send £1 00 postal order and the templete letter

Ask your creditor for a copy of your credit agreement under the Consumer Credit Act 1974

 

Dont forget to send it signed for (proof of delivery) they have 12 days to supply and then another 30 after to comply. If they cannot produce it it effectively puts the debt into being unenforcable.

 

Hope this helps

Lynn

[themusic]

thanks for the reply, who should i ask for this HSBC or MCservice?

[bach]

Hi there, If it was me I would be sending one to both of them. Do a s a p

it will get them of your back for a bit. If any one gets in touch with you from HSBC OR MC ,all you have to say is that you can't discuss it at the moment as the acount is in dispute. And if they have anything to say don't discuss on the phone tell them to put it in writing.

 

Lynn

[themusic]

this is still on going, they rang me today it was a woman basically telling me off like my mother used to do when i was a child, so i said all i can do is offer a full and final settlement of around £500, and she got really nasty saying that isnt £1000 and that just isnt good enough and that £500 can be a token gesture payment and i said no i dont have any means of paying anything else after that and she just said "right then were sending the collectors round to your house" and she put the phone down.

[42man]

Did you ever send the CCA request out ? If you do then on the letter write this - PLEASE NOTE - I WILL ONLY COMMUNICATE IN WRITING - ANY CALLS MADE TO ME WILL BE CLASSED AS HARRASSMENT AND TREATED AS SUCH (And don't handsign the letter either as some DCA's have been alleged to abuse your signature).....

[42man]

She said 'Right then we're sending the collectors round' is an attempt to frighten you into paying.....you MUST send out the CCA, otherwise this will get passed on to DG Solicitors (part of HSBC's in house collection operation)

[themusic]

i think she said it was DG solicitors when she rang but it was still the metropolitan collection telephone number

[42man]

You MUST send out the CCA request (Metropolitan and DG are the same operation).....

[themusic]

right ill do it now, can someone do me a massive favour and write the template on here please, and also point in the right direction of the address i need to send these to thanks

[42man]

It is letter N here (don't hand sign the letter and write at the bottom about the harrassment I mentioned above in post 13)

 

http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

[42man]

Send it with a postal order for £1 and send it via recorded delivery (keep the receipt)

[themusic]

well my girlfirend saw a letter today with a generic "letter of notifcation" saying they are going to the county court for a warrent to get my things to sell, and this scared her so she made me call and make a payment, after a bit of arguing and offering them £550 they said no because they have held the account since july without adding any charges or intrest etc and the best they could do was accept a 10% discount which i said was not enough i could afford, and she suggested paying £40 a month then call again in a few months and offer another settlement so i had no choice but to pay the £40