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Token payments..


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Hi, i owe £900 to HSBC, ** solicitors are dealing with it..on the 26th August i offered a full and final settlement of £225. They have rejected this and told me they will knock 20% off the total and thats the least they will take. I have just spoken to them now and explained my circumstances are bad now and going to get worse in the next few weeks and wont have a chance of improving for at least a year. So he said they would accept token payments of £5 a month for a year. Now this i can do, using the £225 i had set aside for them.


My question is do i need to get them to confirm it in a letter to me that the account will be held and action stopped and i wont be harrassed until the 12mths is up?


I am consider accepting this as i also owe £3900 to HSBC and they have W***** debt people dealing with that one..i offered them £500 full and final on the 18/8 and yet to hear back but doing token payments on the other means i can increase this offer to up to £900..but dont want to do it if it means i will still be harrassed by the £900 solicitors for the year.


Any advice would be gratefully accepted, thanks.


(If i have put this in the wrong place please feel fee to move it, thanks!)

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I would DEFINITIVELY get the "deal in writing". Otherwise you end up making payments, and then, 2 months into it get harassed form more money. Maybe also pay on bais "existand of debt and amount claimed" are both disputed. Have you sent CCA request to see if they have a legally enforceable debt in the first place?

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