hsbc does incorrect = unenforceable?

[presumeddead]

Had a letter today saying:

"I note your comments that the repayment schedule was mis-stated on the loan agreement for.

 

However, I do not agree that this is a serious error that woul render the loan unenforceable."

 

Followed by the usual stuff about statements enclosed, the money remains lawfully owing, HSBC will exercise right to recovery, contact credit ref. agencies etc.

 

What would anyones advice be as to the next step? - write to them again inviting them to court? any help appreciated gratefully

[johnnymitch]

Tell them that any error renders the agreement unenforceable - as quoted in your previous letter - what part of unenforceable don't they understand ?

 

Tell them you know that the money remains lawfully owing , but due to their incompetence it is now up to you how and when you pay it and they are not allowed to default you or contact credit agencies .... any such infringement would result in a court action to clear your credit rep .

[AnimalMagic]

Just note that my experience with HSBC/First Direct is that they will take it to the wire. My settlement was immediately before the court case.

 

I would suggest that you ask them to explain why the quoted case does not apply to them. Also log every call and in your defence you can then claim tel harassment - further reason for the courts to award damages.

[presumeddead]

cheers animalmagic - do you have a thread for your case anywhere? that i could look at?

[AnimalMagic]

Yes, it's here

 

There is no end as we agreed a settlement just before entering court and part of the agreement was that I was not to talk about it. However I have since discovered that they have not removed the default, so I think I will be going back to court...

[presumeddead]

will send the letter today re. asking why this case doesn't apply to them etc. am guessing their next step will be to register a default against me. Is there any way of stopping this in advance?or will i have to apply to remove it once it's done? thanks for any help

[johnnymitch]

You can point out to them that they should not default you whilst an account is 'In Dispute' , but they've been known to ride roughshod over this ruling and do it anyway .

 

There are a couple of good links to ask them to remove it though :

 

This one from Bankfodder :

http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/149449-put-your-credit-reference.html#post1581179

 

and this scorcher from pete castlebest (#5 is the one you need ):

 

http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/149449-put-your-credit-reference.html#post1581179

[lawyerscum2003]

If a loan is in excess of £25000.00 but purports to be regulated by the CCA, is it enforceable. I have a claim against the HSBC. I borrowed £41000.00. The loan agreement says its a regulated agreement. When I advised them that the limit under the CCA was £25k, they worte to tell me that it is not in fact regulated and that I dont have the protection of the prescribed terms that they have clearly breached.

 

Anyone know of any case law on this?

[presumeddead]

johnnymitch many thanks but they are both the same link do you have the 2nd one again?

[johnnymitch]

Oops - sorry about that presumeddead

 

I think this is the one you want ;

 

http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/164871-castlebests-default-removal.html#post1946244

still#5

[presumeddead]

Spoke to metropolitan today as the debt is now with them. They have told me that they can not do anything re. me saying its unenforceable until they have a complaint ref. number from the financial ombudsman. Is this normal? If so do I simply fill in the FO complaints form and go from there?

[johnnymitch]

It shouldn't be with MCS if it's unenforceable ....

 

Why not send them the letter atwozee gave you in thread #22..... and tell them this account has been in dispute and unenforceable since xx xxx xx (date ) ... and they should pass it back to HSBC ....(which is just down the corridor anyway , as they're HSBC's In -House ' collectors )....

[presumeddead]

Cheers Johnny. will do that. the trouble is that they are saying it cannot be in dispute if there is no acknowledgement from hsbc that it's in dispute, as hsbc are refusing to accept that the mistakes are serious

[johnnymitch]

Sorry , presumeddead , I should have added that you I don't believe you have to have a FOS case no. It is unenforceable because of HSBCs error , they'll have to take it up with them .

[johnnymitch]

as hsbc are refusing to accept that the mistakes are serious

 

If they don't think they're serious , why haven't they been hounding you mercilessly for payment - they know the terms of Wilson & Anor v Hurstanger Ltd [2007] EWCA Civ 299 as well as the rest of us - one little mistake - bang! It's unenforceable .............

[presumeddead]

Hi folks, after some more advice please. Have recieved 2 letters this week 1st from hsbcs 'hbeu legal' saying that they simply do not accept that the prescribed terms are incorrect and that the banks position is that the agreement is valid.

2nd letter from customer services apologises for the confusion caused by their original letter, which confirmed the terms were wrong and goes on to say that; the amount payable may differ from the combined charge for loan and credit due to it being a managed loan and subject to variable interest rate! this obviously doesnt explain it at all, but i am looking for advice as to how or if to reply to either letter.

 

Many Thanks in advance guys.

[citizenB]

Have you made a complaint to the Financial Ombudsman ?

[presumeddead]

Hi citizen b, i havn't no, mainly because when i phoned them the lady on the phone said they don't deal with such things.

[presumeddead]

would you reccomend i try again then, or some kind of written reply to these letters?

 

Many Thanks

[citizenB]

Just note that my experience with HSBC/First Direct is that they will take it to the wire. My settlement was immediately before the court case.

 

I would suggest that you ask them to explain why the quoted case does not apply to them. Also log every call and in your defence you can then claim tel harassment - further reason for the courts to award damages.

 

You can point out to them that they should not default you whilst an account is 'In Dispute' , but they've been known to ride roughshod over this ruling and do it anyway .

 

There are a couple of good links to ask them to remove it though :

 

This one from Bankfodder :

http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/149449-put-your-credit-reference.html#post1581179

 

and this scorcher from pete castlebest (#5 is the one you need ):

 

http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/149449-put-your-credit-reference.html#post1581179

 

Spoke to metropolitan today as the debt is now with them. They have told me that they can not do anything re. me saying its unenforceable until they have a complaint ref. number from the financial ombudsman. Is this normal? If so do I simply fill in the FO complaints form and go from there?

 

 

Hi, I have read back through your thead and discover that you have previously been given some excellent advice, atwozee has given you the regulation that applies and also provided you with a letter to send. Johnnymitch has also been giving sound advice.

 

TBH, the FOS are about as useful as a chocolate fireguard so perhaps wait and see if either JM or atowzee confirm that this is something that they would take up on your behalf.

 

IMHO, I think you need to wait and see what happens next.. this is a large financial institution who shouldnt be making such stupid mistakes !!. They know they are in the wrong and that their error effectively prevents them from collecting on this account.

 

I dont think I know this crowd 'hbeu legal'

 

Well, I did just a google and discover that all links refer back to HSBC, so this is probably another "inhouse" department.

Edited August 31, 2009 by citizenB

[johnnymitch]

by CB TBH, the FOS are about as useful as a chocolate fireguard so perhaps wait and see if either JM or atowzee confirm that this is something that they would take up on your behalf.

 

I'm inclined to agree with CB about FOS's usefulness .... I think I'd let HSBC (or HBEU:confused:) take the next step towards court , then see what happens - they know they're in the wrong - you've got a legal precedent to quote , I don't think they'll risk it ...

IMHO, I think you need to wait and see what happens next.. this is a large financial institution who shouldnt be making such stupid mistakes !!. They know they are in the wrong and that their error effectively prevents them from collecting on this account.

 

I dont think I know this crowd 'hbeu legal'

 

This is a weird one I haven't heard of before , bit it looks like an upmarket branch of DG , HSBC's in-house solicitors .. . You've told them the state of play , if it were me I'd let them make the next move ,

 

Well, I did just a google and discover that all links refer back to HSBC, so this is probably another "inhouse" department.

.......

Edited August 31, 2009 by johnnymitch
Tidying up post .....

[djwigster]

Just wondering if there has been any more developments on this one?

 

It would seem Im in a similar position to presumeddead in post #41.

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/210273-growing-hsbc-managed-loan.html

 

Thanks