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Crazy Fella v HSBC


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Hi to all !

 

Well - this is one of my debt problems among many.

 

Ok suffering debt problems i have been using my credit card to bail me out as i go along. My income should cover my expenditure. however as i am only human - in some instances debt i my own fault, other instances - the car breaks down, the tumble drier, the fridge, a wedding to go to, birthdays, christmas, vet bills - they all do there bit to push tip me the balance over each month and soon mount up over the year.

 

ok here we go -

 

i owe HSBC £19000 for a loan i just cant afford pay full stop.

 

i have for the last 2 to 3 yrs held them off through Rockwell by paying £1 a month - although i have increased to £5 now just to get them off myback ringing all the time.

 

i have other cards which top the whole debt to just over the £35000 mark.

I tried IVA originally - and because HSBC owned the greater debt percentage they controlled final decision and said NO !

 

So hence i pay the £5 a month.

 

I can carry on like this forever, but is there another way out other than bankruptcy ?

 

i have a copy of the CCA in my filing cabinet - the second copy that you get to keep when u fill in all the forms in the beginning. it states interest rate, and amount borrowed and amount payable back. So that looks ok - although i have not checked to see if they can supply me with their own copy.

 

I have been given the impression by people around me - that suggest - if i carry on with my £5 a month that HSBC will eventually give up after 6 yrs.

 

I have strong doubts on this. I think that only applies when u fail to pay for 6 yrs and they cannot locate you to get a response or send bailiffs out.

Please could you clarify this for me.

 

I have also been advise on one hand to go banktrupt because i dont have any assets, no savings. i rent my house privately, my car is worth about £1000 - Bmw 523i 1998, with 230,000 miles on it - which the wife drives, and i have a Corsa Combo van worth £300 i reckon.

 

At the same time - i have been advised not to go bankrupt because they will still send in bailiffs to get the tellys, the kids ,play consoles, stereos, the bmw - anything. this advice from an account who has been present on the day of such an ordeal.

 

Can anyone think of a direction i should go ?

 

i dont really want this round my neck in another 10yrs time if possible.

 

kind regards

 

CF

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Have you ever considered 'seperating' from your wife for a while renting somewhere cheap and then after a month or so going for bankrupcy.

Oh and sell the car to your wife and inform the dvla while your at it.

If you aint got anything to take what can they all do?

Good luck!

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who you paying rockwell or hsbc, also who now owns the debt rockwell or hsbc?

 

did you get ppi on the loan and was it valid for you, ie not mis-sold

 

have they added any charges you can claim back.

 

what are the other debts made up of Crecit cards?

 

they will not give up after 6 years, small money is better than no money to these people

PGH7447

 

 

Getting There Slowly

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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Hi PGH7447

 

Im paying Rockwell.

 

No PPL

 

HSBC took all the interest off - and gave to ROckwell to claw back the £19000, originally it was £25000 or there abouts.

 

the other debts are

 

£6000 - Cahoot Flexi Loan

£6200 - Barclays Card

£2200 - RBS Card

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Hi PGH7447

 

Im paying Rockwell.

 

No PPL

 

HSBC took all the interest off - and gave to ROckwell to claw back the £19000, originally it was £25000 or there abouts. So HSBC still own this then

 

the other debts are

 

£6000 - Cahoot Flexi Loan - send a cca request

£6200 - Barclays Card - send a cca request

£2200 - RBS Card - send a cca request

 

 

cca request costs £1 by postal order send it recorded do not sign they then have 12+2 days to supply a valid agreement, after this time you can withold payment if you wish.

 

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

 

template N

 

Now for Rockwell and HSBC

 

send rockwell this

 

Harassment by telephone

 

Account Number: XXXXXXX

I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.

I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

I now require all further correspondence from your company to be made in writing only.

I am of the view that your continued harassment of me by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

Be advised that any further telephone calls from your company will be recorded. (**Even if you don‘t yet have recording equipment!!**)

 

Yours faithfully,

 

from now on dont speak to them everything in writing, it has been said that they Lie:)

 

Now I dont know about you but £5 a month over the next 50 years aint too bad, however if it is how do you pay them is it by DD, if it is change this to a standing order and offer £1 a month, this will upset them slightly and they may take you to court but then we can deal with that when it arises.

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Makes no odds to me whether its £1 or £5 - it keeps them off my back. i know how to keep them away. Im just wondering whether its such a good idea - and whether i should go bankrupt.

Only that means i have to fork out another £500 to sort the forms and the process.

 

The CCA will just stall them for a while - they have come up with a historic copy for barclaycard, - but that seems like another can of worms - check ouy my other thread. Crazy fella v Barclay card. It does not seem to be a solution, just slows them down for a bit.

 

I dont have the money to go to court. but points to the direction that threatening court may well - scare them into giving it up as a bad job. dunno. i got no money - so i dont see what they can do really. point is - i dont want to be still in this situation - in 10 years when my kids will be in early 20's and i still got debt problems.

 

I am at that point where i think i have had enough - and would rather then make me bankrupt, but - i dont want to stop payments as - then i think they will send bailiffs after numerous letters telling me this. so then i will have my wife arguing with bailiffs on the door.

 

If i go bankrupt - i could have all this off my back in 6 yrs, and only be paying contributions for next 12 months if im really lucky. So - can someone advise me - whats the worst case scenario with me doing either of these two things :

 

1. file for bankruptcy myself

2. stop payment to all creditors and debt collectors

 

i look forward to your response.

 

kind regards

 

crazy mad worried stressed fella right now.

Edited by Crazy fella
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If you want to go bankrupt stop paying and let them take you to court that way it costs nothing, just make sure you have nothing of value then can seize

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Hi PGH7447

 

it may seem that my posts are a bit abrupt and rude - its not meant that way - i do appologise - im getting edgy by the minute i think.

 

I was thinking of that. but will they go straight to court or will they issue letters for bailiffs then send bailiffs first ?

 

also - does a 1998 bmw 523i with 230,000 miles class as valuable ?

tellys ?

games consoles of kids ?

printer ?

stereo ?

 

i could empty the house of such valuables and if they have to take it - take the damn bmw.

 

i cant see another way.

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Hi PGH7447

 

it may seem that my posts are a bit abrupt and rude - its not meant that way - i do appologise - im getting edgy by the minute i think.

 

I was thinking of that. but will they go straight to court or will they issue letters for bailiffs then send bailiffs first ? bailiffs will not attend until it has been to court and then I belive they will only take what the backrupt assessor authorises

 

also - does a 1998 bmw 523i with 230,000 miles class as valuable ? doubt it and do you need it for work?

tellys ? they will leave one I assume

games consoles of kids ? not your stuff is it

printer ?

stereo ?

 

i could empty the house of such valuables and if they have to take it - take the damn bmw.

 

i cant see another way.

 

It is a quick way out and you only get it for 12 months now, but your credit file is shot away (althoug it already probably is)

 

some employers take exception to bankruptcy as well

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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hi PGH7447

 

i have gotten close to filling in the forms 3 times over last 2 yrs i think. I worry about them taking the kids stuff. Games consoles, tellys, etc. i think i know its the right and only option left but it does not make the unknown any easier. The bmw is in my name because cheaper to insure for wife to drive so she can go to work rather than insure in her name which is more expensive. i then own a van in my name too which i use to go to work. our working hours differ so we cannot share same car.

 

ok - so - if i stop payment to all - they will go to court. bailiffs will then be sent - they could take - anything ? - settee ? ornament cabinets ?

 

then they will file for my bank ruptcy ? or before ?

 

im dreading this - christmas is on its way - and boys birthday in september. never seems tobe a right time.

:(

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Hi crazyfella , welcome to the forum :)

 

Have a look at this link on here :

 

Bailiffs and Sheriff Officers - The Consumer Forums

 

I think it should ease you mind a bit on just what the bailiffs can and cannot do ........

 

 

You're getting good advice there from PGH , so I'll leave you to ask further questions if you need to - someone will answer - and we're user-friendly on here :D

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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hi PGH7447

 

i have gotten close to filling in the forms 3 times over last 2 yrs i think. I worry about them taking the kids stuff. Games consoles, tellys, etc. i think i know its the right and only option left but it does not make the unknown any easier. The bmw is in my name because cheaper to insure for wife to drive so she can go to work rather than insure in her name which is more expensive. i then own a van in my name too which i use to go to work. our working hours differ so we cannot share same car.

 

ok - so - if i stop payment to all - they will go to court - for this amount yes most probably. bailiffs will then be sent depends on what the judge orders and what the appointed adjudicator discovers you own- they could take - anything ? - settee ? ornament cabinets ? No they do not leave you destitue

 

then they will file for my bank ruptcy ? or before ? Bankruptcy before bailiffs, I believe and if you read the thread kindly posted by jonnymitch you will get a better understanding

 

im dreading this - christmas is on its way - and boys birthday in september. never seems tobe a right time. - there never will be which is why it might be best to fight the other debts first and leave the big one till last

:(

 

I can only advise the decision I'm afraid is yours alone, have you been to the CAB yet for advice?

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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PS when you start to fight back it gets addictive and FUN, 2 years ago I was in a bad a state as you, but not anymore, I pay what I want to who I want,

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Thanks PGH7447 - thats super advice and friendly understanding too.

 

I think ultimately i have to go bankrupt at some point. i could possibly fight the credit cards and get a few wiped judging by what i have read in here over last few months and info i have gained. However this would still leave me with £19000, which i still cant manage. i think the hsbc one is pretty well sewn up too with regards to the credit agreement paperwork. not as hap hazard as the credit card companies.

 

when u say bad state - was the debt as much as mine - or more - without being specific. have u managed to clear a lot by paying lumps or - got some wiped ?

 

what would i be able to do with the big one ?

 

kind regards

 

CF

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How old is your HSBC credit card account? HSBC admitted to me in writing that their credit card department do not keep any documentation prior to 2003.If yours is before this then they probably wont have the original agreement.You can see this in 1.1 of the link below

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/188794-hsbc-cca-non-compliance-6.html#post2297043

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Lets see between me and the other half

 

HSBC Loan 17K now paying CL Finance at a rate I set - however will be chasing PPI shortly when I can find the time - that will upse ClueLess Finance but I dont really care:)

Credit cards 3 paying at a rate I set

credit cards - 3 in default not paying - highest of these £4.5k

Credit card - 1 written off no agreement

credit cards - 1 not heard from in a couple of years

bank charges reclaimed from HSBC - Shabbey - Paragon finance

 

credit file shot to bits but still got a mortgage 2 years ago

 

so has bad as you probably yes:D:D - bovvered No

 

as my signature block says

 

Getting there slowly

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Yes true this can be addictive and fun but only fair to point out it can pray on your mind and the debt collection agencies are tenacious.

Actually going into court and having to explain your legal arguments against a barrister who's on more than you earn in a week is also daunting.

Certainly don't see any reason why you can't sell your car to your wife. Surely the extra premium would be made up for by knowing your transport was safe. Your van should be okay as you need it for work.

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Yes true this can be addictive and fun but only fair to point out it can pray on your mind and the debt collection agencies are tenacious. - I would rather call it "they dont know when they are beat"

Actually going into court and having to explain your legal arguments against a barrister who's on more than you earn in a week is also daunting. If they can be arsed to turn up and it wont be a barrister but some lowlife office junior from some lowlife solictiors office, usual kept on a retainer by the DCA

Certainly don't see any reason why you can't sell your car to your wife. Surely the extra premium would be made up for by knowing your transport was safe. Your van should be okay as you need it for work.

 

:D

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Hi guys - all lots said whilst i been away from here few days.

 

PGH7447 - thank you for your honesty - means alot - but also bolsters your your rep. Very similar circumstances to me.

 

If i may - i would like to go off subject of HSBC and refer to my Credit Cards for the moment then. i say this because i think my HSBC Loan is pretty concrete. although i did there is no ppl on this one. i do have ppl on a HSBC loan just prior to that i think - that may be worth returning to subject on later.

 

anyways - my cards

 

1. Monument ( Barclay card owned i believe ) - £3400 approx - no one contacted me in approx 2 years - so dont bother with this at moment.

2. RBS Card - £2400 - currently agreed to accept £1 a month for the moment. No CCA request sent yet.

3. Barclay card ( originaly Morgan Stanley - then Gold Fish - now Barclay Card ) - offering £1 a month and sending cheque each month whether they like it or not. - Sent CCA request as per section 78 - 1974 credit act . - Returned me a copy of historic agreement - no signature of mine or theirs.

and also no credit limit stated.

 

So i think i may have a case for this Barclay card one - but not as per section 78 - i think i have seen something someone has mentioned about 77 and 79 is it ? trouble is - i dont really understand the lawyer written mumbo jumbo.

 

PGH7447 - what would you advise that i send back to counter attack the historic agreement and the fact - no credit limit shown.

 

i have to be honest i strongly suspect that they will not have an original or even a photo copy of my signed agreement.

 

i have seen a guy in here win with the halifax card - but - i think i need to have some pretty clever letter writing which makes me look like i know what im talking about even though i may not to get to that point ? lol !

 

So what do you think PGH7447 - does it look promising ?

 

kind regards

 

CF

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can you post the agreement you have up on here using photobucket, obscuring personal details then we can have a look see, but it sounds promising

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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hello again

 

here is the info as jpg's regarding the Barclay card agreement.

 

as you will see - there is only an historic agreement copied and also - i think this is a cause for issue - there is no Max Credit limit set.

 

Well - see what you think PGH7447 - i await your opinion & advice.

 

kind regards - thanks in advance !

 

CF

 

ok thats my max for this post - will see if i can add the remaining to another post in a mo.

Bclay CARD agreement0001.jpg

Bclay CARD agreement0002.jpg

Bclay CARD agreement0003.jpg

Bclay CARD agreement0004.jpg

Bclay CARD agreement0005.jpg

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try photobucket

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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