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Combined loan & current account defaults


yhs4260
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Hi,

 

I had a loan & current account with HSBC taken out in 2003.

 

The loan defaulted as I could not keep payments up on it. The reason for this was I lost my job and the PPI did not cover me as I was a contractor at the time.

 

The loan & current account defaulted. The current account default is made up partially of unlawful penalty charges.

 

The account was then eventually sold to Phoenix Recoveries and Fredricksons International I am presently making monthly payments to.

 

The account balance seems to have been combined, however I am unsure at which stage.

 

I was missold the PPI and successfully managed to get a refund on the PPI amount, however as usual they did not admit fault, merely upheld my complaint and duly refunded the PPI amount to the loan/current account balance.

 

Whilst the loan was with HSBC my credit report recorded that I had a default for the loan and a seperate one for the current account.

 

Now Fredricksons are recording only one default for the combined amount.

 

Essentially what I want is to get this default removed. I presently have a case with the FOS as I believe I should not have a default as the PPI was mis-sold and had it not been mis-sold I would not have defaulted.

 

However, do I have any other angles that could be explored. I have seen mentioned in other threads the fact about combined accounts making a new account and as I had not agreed to it making it unenforceable.

 

I have already SAR'd HSBC and have all the information. The CCA is enforceable.

 

Any help/thoughts appreciated.

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Neither HSBC nor Frederickson can create a new account by combining two accounts. That has the effect of terminating the original accounts and creating an unenforceable new account which has no agreement, so they have shot themselves right in the foot as there are now no accounts they can collect on. Frederickson has no lawful right to enter a default for a non-existent account and you cannot be defaulted for any account twice. Tell them to remove their entry on your credit reference reports or you will make a formal complaint to the ICO and send a copy of that letter to the credit reference agencies.

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Thanks Pinky. But what I am worried about is what if they decide that they will remove the 1 default and place 2 defaults for each account back up.

 

I guess I need absolute clarification that the accounts have been combined, or do I?

 

Im not sure!

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If you cannot tell from the SAR whether they have been combined or not, then the only way to find out is to ask them. Do everything in writing - no phone calls - and keep a copy of all the letters you send and receive.

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