Old HSBC DEBT HAs FINALLY FOUND ME....PlS Advice and Help

[mastersaab]

Dear Readers,

 

I need your precious help and advice. Please help.

 

I had an old debt since 2004 with HSBC that has come back to haunt me. I left the country at that time and told my Ex to close my credit card etc but she did not.

 

Any way since I was abroad I was using my friends address for UK correspondence.

 

End of 2007, debt collection agency sent me a letter to that address stating that I owed £12000 for the old debt. I looked in to the account details and realised that my credit card was not closed etc etc and I ended up with a debt of £12000.

 

 

I rang them up and owned up to this debt as did not want balliffs coming to friends house. I wrote the Debt agency and started paying them £1 until my salary etc gets better. The company agreed and didnt harrass me anymore for 14 months. The wrote after 14 months and asked about change of circumstances and I ended up increasing the repayment limit a little more.

 

Now as I am abroad, I am not earning that much. I have checked my credit report and that debt is no longer coming up on my account at all. I am not registered to Electoral Voting at the moment. My credit rating is fair at the moment cos I have no credit on my account other than my bank account.

 

My questions are :

 

1) I have been told by credit agency people to register to Electoral so that my credit rating can get better. If I register, will the debt agency still be able put that debt on my name on my credit file?. Remmber i accepted the debt in 2007 and debt started in 2004.

 

2) I also applied for a credit card to approve my rating and it has been approved. They wanted proof of address etc from me....Will the debt collection agency can see this activity on my account?

 

3) I;ve told by someone that these debt agencies buy debts from companies very cheaply like 10% of the original value....is this true?

 

4) I've been told that if i offer them 20% of £12000 like 2400 or 3000 to the company then they might accept itas final settlement..Is this possible? (I can try to collect this much by lending off friends and family). HOw do I approach the debt agency?

 

5)I am just scared that since this debt is not showing on my credit file and if i register to electoral voting, it will show up and also if I settle the account then it will show up again.

 

Please help me with any advice and information as possible...I seriously want to improve my credit file now and also want to get rid of this debt. Shall I wait for registering to Electoral and wait to settle for this debt

 

I am happy to answer more questions....and I thank to all for their precious advice and help in advance.....

 

PLEASE HELP ME PLEASE

[dx100uk]

firstly remember they are a DCA THEY HAVE NO LEGAL POWERS!!

 

just send threat-o-grams thats all

 

and stay off the phone to them !!! NEVER talk to a DCA on the phone!

 

i would leave it be and continue with your plans.

 

IF they ever do send you anything, just fire off a CCA request because i doubt they have the correct paperwork to do anything to harm your credit rating or chase the debt.

 

dx

[mastersaab]

firstly remember they are a DCA THEY HAVE NO LEGAL POWERS!!

 

just send threat-o-grams thats all

 

and stay off the phone to them !!! NEVER talk to a DCA on the phone!

 

i would leave it be and continue with your plans.

 

IF they ever do send you anything, just fire off a CCA request because i doubt they have the correct paperwork to do anything to harm your credit rating or chase the debt.

 

dx

 

Thanks for the reply. Can I ask you please that I have already in letter accepted this debt cos the letter they sent me had the right card details that I used to have also they were threatening to take me to court for CCJs etc.

 

I accepted it in End 2007 and now wrote another letter to increase repayment to less than £50 a month.

 

What shall I do? Can I offer them lum sum 10% or 20% of the debt or shall i just ignore them and stop repaying them?

 

I wish I had taken this advice before but I was out of the country then....

[mastersaab]

I am also scared that if I ask for CCA then the debt agency will get ****ed off and will make sure that they take me to court and also put it on my credit file....

 

I am just thinking that why havent they put this on my new address which ive been using for 4 years...is it cos I am not electoral registered cos I am out of country...

 

I am getting registered now...shall I wait before I send them letter requesting CCA?

 

How can I request them now? Wont they say why after Nearly year and a Half I remembered to ask for CCA

[dx100uk]

you are both very much confusing what a DCA is as compared to a bailliff and what they can do.

 

 

if they do not hold the correct paperwork then they can do nothing & should not even be accepting payments from you!

VERY popular [problem] in the UK.

 

even if you are paying them it is not an admission of the debt being yours, just a fact that you fell for their tactics of vailed legal threats and the spoofed you into paying it off to them.

 

fire off a CCA request [use the blue search bar above to find out about what to do and send]

 

if they do not produce the correst paperwork in 12 working days i would not pay them another penny!

 

dx

[mastersaab]

Thanks a lot mate...I really appreciate the advice...I will fire them a letter soon as possible....

 

Lastly I was reading I cant do it for Overdraft as well cos half of the debt is for overdraft and half is credit card.

 

Do you reckon cos they dont have proper paperwork thats why they havent got put anything on my address on credit file in the last 2 years?

[dx100uk]

i think at this stage it matters not.

 

lets get the DCA off your back first.

 

then p'haps SAR HSBC and get a list of all those charges you can get back on the CC A/C. being 2004, you should be in for quite a bit after adding the interest, !!

 

dx