HSBC debt passed to Lowell Financial help please!

[toftdan]

Hi all

Just found this website, and it seems to be very helpful, although wish I would have found it earlier!!

My partner recently had a letter through the mail from this company saying that they had purchased a debt from HSBC with a balance outstanding of £11,135.20!!

My partner knows what it relates to, and said one of her ex partners was in a lot of debt and she bailed him out.

 

I wrote back to them and said that we do not accept any acknowledgement of the debt, that we were seeking legal advice and would like them to provide us with all of the documentation i.e. signed credit agreement, proof of payments etc...

 

Today we have received a letter with a statement showing payments that were made from the date the agreement started, being January 2003, up until the last payment on December 2004. I have received nothing else from them.

 

Can somebody please advise what our position is? What we should do? Obviously, in an ideal world, we do not want to repay this, but appreciate that it has not been 6 years for the statute of limitations to work. Have we already acknowledged debt by sending this letter without using "without prejudice"? We live in Jersey, so cannot be threatened with Bailiffs, and do not own our property, so mortgage cannot be effected.

 

Should we now ignore these letters until the 6 years is up?

 

Are these companies likely to accept a reduced offer in order that we could pay this off? If we have to pay anything, we were considering offering say £5,000 to be paid £500 a month, are they likely to accept this?

 

Anyones and everyones help much appreciated.

 

Look forward to hearing our options.

 

Ta

[42man]

OK did you send a £1 postal order with your request for the Consumer Credit Agreement ? IF not then it wouldn't be a valid request...also did you send it by recorded delivery ?

[toftdan]

Hi there

 

No, unfortunately I did not send anything with my request. I hadn't found this site back then.

 

Has the fact that I've even sent them a letter meant that we've now made contact and acknowledged it though, even though I said in the letter that I hadn't acknowledged the debt?

 

What is your suggestion for our next step?

 

Thanks

[toftdan]

Hi all

Just found this website, and it seems to be very helpful, although wish I would have found it earlier!!

My partner recently had a letter through the mail from this company saying that they had purchased a debt from HSBC with a balance outstanding of £11,135.20!!

My partner knows what it relates to, and said one of her ex partners was in a lot of debt and she bailed him out.

 

I wrote back to them and said that we do not accept any acknowledgement of the debt, that we were seeking legal advice and would like them to provide us with all of the documentation i.e. signed credit agreement, proof of payments etc...

 

Today we have received a letter with a statement showing payments that were made from the date the agreement started, being January 2003, up until the last payment on December 2004. I have received nothing else from them.

 

Can somebody please advise what our position is? What we should do? Obviously, in an ideal world, we do not want to repay this, but appreciate that it has not been 6 years for the statute of limitations to work. Have we already acknowledged debt by sending this letter without using "without prejudice"? We live in Jersey, so cannot be threatened with Bailiffs, and do not own our property, so mortgage cannot be effected.

 

Should we now ignore these letters until the 6 years is up?

 

Are these companies likely to accept a reduced offer in order that we could pay this off? If we have to pay anything, we were considering offering say £5,000 to be paid £500 a month, are they likely to accept this?

 

Anyones and everyones help much appreciated.

 

Look forward to hearing our options.

 

Ta

[toftdan]

Hi All

 

Just a quick one, and I'm sure it will be easy to answer.

 

I'm thinking of issuing Lowell Financial with a CCA Request. Please can somebody point me to a template or something similar to let me know what the letter must say, and what I need to send with it?

 

Thanks everyone.

[Michael Browne]

Creditors and DCAs - Consumer Wiki

[42man]

No, it does not mean you have acknowledged the debt.....if it was me in your situation. I would send letter 'N' from here.. http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html

 

Send it by recorded/guaranteed delivery, enclose a £1 postal order and DO NOT HAND SIGN IT.....by doing this you will have done it officially, otherwise they may simply say that they never received it...they have to provide this within 12+2 working days, if they don't then they are in default of your request and they will not be able to enforce the debt (although some do try) - keep us posted...

[Castlebest]

Hiya toftdan and welcome to the HSBC forum .

 

You have done the right thing so far by stating

we do not accept any acknowledgment of the debt

 

You need to send off a Consumer Credit Act section 77 request letter (will cost you a pound) asking for a true copy of the credit agreement (do not sign the letter) and keep denying any responsibility for the debt.

 

Refuse to talk to them on the telephone, tell them to write to you (they will find your telephone number) ABOVE ALL do not pay or offer to pay anything to them until they prove to you that you are liable.

 

pete

[Rooster-UK]

Three threads merged.

 

Please keep to one thread per claim, otherwise users trying to help you won't know which thread to post on and you won't know where your answers are.

 

Regards, Rooster.