HSBC/ DG solicitors

[wilkco]

HI

 

i have missed some payements on a HSBC Loan and they have passed the details to DG solicitors

 

I have done the bugit plan but they have refused my offer all of my other dca's and banks have accepted

 

they want nearly 150 pound than i have offered is it just worth me paying what i have offered or just letting them take me to court? and the court making them accept it (or is there a risk the court will side with the bank)

 

Cheers

 

Paul

[clemma]

You can make the payments you have offered - after all, they won't refuse them. IF they do take this to court, then a judge would only make you pay what YOU can afford, not what they want.

 

Which DCA is this with at the moment, and have you asked them for proof that they are able to collect on this debt (i.e. a CCA request).

 

If so, there is a letter you can send that explains you have other creditors etc., etc which is located HERE. There are a couple to choose from and there is also one to send if the creditor refuses payments.

[wilkco]

Hi Clemma

 

the debt is with DG solicitors which i understand are part of HSBC what do you mean by are they able to collect the debt?

 

i have started looking at the site to get some ideas and will send the letter about not accepting my offer.

[clemma]

Well, how do you know for sure that DG Solicitors actually have the authority to collect on this account? If I was to send you a letter saying you owed me £xxxx, would you pay me without any proof? That's the way I look at it.

 

I would send them the letter offering reduced payments first - then if they say no, send the next letter. It gives you a nice little paper trail should this ever go to court (send them all recorded delivery as well and PRINT do not sign your name).

[wilkco]

Hi Guys

 

i sent off the cca letter and yesterday recd a letter back which states

 

please note that we are only required to provide infomation relating to a loan pursuant to section 77 of the consumer act 1974 where sum in respect of that loan is will or may become payable. Accordingly where as in this instance a loan has been fully reapid where by way of refinancing or otherwise we regret that we are unable to provide info relating to the loan in response to any request which is made pursuant to that lesgislation.

 

what do i do next ????

 

Cheers

 

Wilkco

[deathbycrayons]

Subbing..

[Zorro01]

bump

[ScarletPimpernel]

Hi Guys

 

i sent off the cca letter and yesterday recd a letter back which states

 

please note that we are only required to provide infomation relating to a loan pursuant to section 77 of the consumer act 1974 where sum in respect of that loan is will or may become payable. Accordingly where as in this instance a loan has been fully reapid where by way of refinancing or otherwise we regret that we are unable to provide info relating to the loan in response to any request which is made pursuant to that lesgislation.

 

what do i do next ????

 

Cheers

 

Wilkco

 

 

From the above it sounds as if this may be one of HSBC's notorious 'managed' loans, or a case where HSBC have (conveniently for them) created one debt from more than one source. Can you provide any more detail?

[wilkco]

From the above it sounds as if this may be one of HSBC's notorious 'managed' loans, or a case where HSBC have (conveniently for them) created one debt from more than one source. Can you provide any more detail?

[/font]

I had an overdraft and flexi loan with hsbc lost my job and defaulted on both opened up a new account with NatWest. Had a threat letter from dg solicitors for the total amount saying that they wanted payment or will take me to court. Would not accept my offer of payment like my other creditors so I went looking for advice and found this website sent of my cca letter for my flexi loan account only as I know from reading info on this website that overdrafts are not covered.

Then recd the above letter back from them

flexi loan was a loan where you paid a set amount a month but could withraw money from it at any time.

Edited May 24, 2009 by wilkco

[the main man]

Are you sure the amount owed is correct? have you had any charges added to the account that you can dispute/reclaim?

 

I would send them a SAR for disclosure of all info they hold on you ASAP

[ScarletPimpernel]

A FlexiLoan is a regulated agreement under the CCA 1974. I'd be surprised if HSBC were able to produce an enforceable agreement.

 

What I don't understand is why HSBC are saying that the loan has been repaid by way of refinancing, unless some new agreement was entered into.

 

With HSBC, a SAR is always a good idea, because their Data Compliance department will provide documents other branches would rather you didn't see.

[noddyaccount]

A FlexiLoan is a regulated agreement under the CCA 1974. I'd be surprised if HSBC were able to produce an enforceable agreement.

 

What I don't understand is why HSBC are saying that the loan has been repaid by way of refinancing, unless some new agreement was entered into.

 

With HSBC, a SAR is always a good idea, because their Data Compliance department will provide documents other branches would rather you didn't see.

 

Are you sure that the flexiloan is regulated by cca 1974 ., I only ask as I am in the same boat , thank you

[grannymomo]

Hi, am looking for some help with credit security limited, just last year I sent a letter under comsumer credit act to 1st Credit and I never hear from them again, but have just got letter from Credit Security who have bought this debt that I thought 1st credit were not allowed to sell?

Any help?

[ScarletPimpernel]

Yes. I have dealt with HSBC over a FlexiLoan - and won.

[noddyaccount]

Yes. I have dealt with HSBC over a FlexiLoan - and won.

 

They seek him here they seek him there , thank you .

Had they compounded your flexiloan with an o/d like mine and otheres , do we have to 'untie' them or is that hsbc's problem

[ScarletPimpernel]

Mine was a standalone account.

 

I suspect that it will be in your interest to untangle any merged accounts. However, HSBC have a nasty habit of trying to persuade people to take out 'managed loans' which are in effect a way of allowing them to merge accounts to make one debt, gets rid of the need for them to produce valid agreements for any loan or cards, and charge more interest.

[noddyaccount]

Mine was a standalone account.

 

I suspect that it will be in your interest to untangle any merged accounts. However, HSBC have a nasty habit of trying to persuade people to take out 'managed loans' which are in effect a way of allowing them to merge accounts to make one debt, gets rid of the need for them to produce valid agreements for any loan or cards, and charge more interest.

 

They have tied my overdraft and flexiloan and are ambiguously describing the two accounts as an overdraft in their response to my section s77/78 CCA request however i have split statement in response to my data protection request. Reading your thread were you taking them to task for a bank charges matter or a Cca request pursuent to the Consumer credit Acct ?

[ScarletPimpernel]

I have had a number of HSBC issues. In relation to my Flexiloan account, I made a CCA request with which they could not comply - so they sold the debt, which was composed entirely of charges. They had to buy it back and were aware that I knew they'd admitted they had no agreement.

 

If your Flexiloan acount is a few years old, HSBC are unlikely to have an enforceable agreement; they usually push out 1 side of A4 with name, address and account number - they are hopelessly unenforceable. The first action is always to CCA them. Where they merge accounts, make this a formal dispute and tell them you require them to be treated separately.

[noddyaccount]

I have had a number of HSBC issues. In relation to my Flexiloan account, I made a CCA request with which they could not comply - so they sold the debt, which was composed entirely of charges. They had to buy it back and were aware that I knew they'd admitted they had no agreement.

 

If your Flexiloan acount is a few years old, HSBC are unlikely to have an enforceable agreement; they usually push out 1 side of A4 with name, address and account number - they are hopelessly unenforceable. The first action is always to CCA them. Where they merge accounts, make this a formal dispute and tell them you require them to be treated separately.

 

Thank you , I cannot remember even signing for it the flexiloan , but then I don't remember much anyway , I guess the give away is in the word loan . What is in my sar request is as you described .