Jump to content


CL Finance - Full and Final ?


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 5107 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi,

 

I have a debt to HSBC (a cobbled together o/d and loan) that has since been sold to CL finance. The total is just over £15000.

 

I pay CL finance a few pounds every month. This has been going on for some time (in fact the default has fallen off my credit file) and as I am now trying to get to the stage of being completely debt free I was considering a full and final offer.

 

I have seen various numbers bandied about but was wondering what the group thought a good opening gambit - 10%?

 

Cheers

Link to post
Share on other sites

Wait a minute! Are you saying that they have grouped together the OD and the Loan??

 

If so, this is completely wrong as they come under different sections of the CCA, you need to tell them that these debts are TWO separate debts, and not one!

 

If they refuse to treat them as two individual debts then you need to, in the first instance raise a formal complaint with which ever cowboy has decided to group them together (HSBC or CL) and if they don't then they need to be reported to the FOS to investigate..

  • Haha 1

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Link to post
Share on other sites

Wait a minute! Are you saying that they have grouped together the OD and the Loan??

 

If so, this is completely wrong as they come under different sections of the CCA, you need to tell them that these debts are TWO separate debts, and not one!

 

If they refuse to treat them as two individual debts then you need to, in the first instance raise a formal complaint with which ever cowboy has decided to group them together (HSBC or CL) and if they don't then they need to be reported to the FOS to investigate..

 

Yep.... this would count as an unlawful assignment by the original creditor. I raised a similar issue with Moorcroft years ago when 3 of my accounts were amalgamated and sold. CCA them before you start thinking about giving them settlement money.8)

  • Haha 1
Link to post
Share on other sites

Wait a minute! Are you saying that they have grouped together the OD and the Loan??

 

Yes, they did.

 

This was back in 2003 / 04 when I had a load of issues going on and my head wedged firmly ..... in the sand. I have no paperwork from then.

 

It was definitely HSBC (First Direct) that merged the two.

 

Should I CCA HSBC or CL Finance?

 

Thank you.

Edited by The Cappuccino Kid
clarity
Link to post
Share on other sites

Send the CCA to whoever is currently chasing you for payment. Enclose a Postal Order for the £1 fee (not a cheque) and don't use your normal sig.... just print a "sig" instead.

 

Send by rec. delivery and wait. Do not speak to anyone on the 'phone if they try and insist upon all communication in writing.

 

:)

Link to post
Share on other sites

Morning.

 

I just want to check that I'm doing the correct thing here.

 

Background; I had an overdraft and a loan with First Direct. I ran into problems and they closed both and amalgamated them. I'm afraid that I no longer have any paperwork from then.

 

I do have some scans of letters from DG Solicitors and Metropolitan, both of whom were using my old current acount number as a reference, but the total of the loan plus overdraft so I have no doubt that the two were merged.

 

After some negotiation I have been paying a smallish amount every month and the debt was sold to CL Finance a couple of years ago. The default has now dropped off my credit file.

 

So that is why I was considering a F & F. But from what I'm reading First Direct have been a bit naughty by merging the two. So I should CCA CL Finance? I do want to preserve my improving credit history so carry on paying them at the moment?

 

Thanks for any and all advice.

Link to post
Share on other sites

yes cca cl finance and keep paying for the time being.

 

HSBC have done the same to someone else I know. They combined a managed loan and overdraft and then sold it on as a single debt. They then claim it is one debt and just for an od so they can try and wriggle out of complying with the cca request.

I SAR'd hsbc and got the info i needed to prove it was two debts.

Link to post
Share on other sites

Is there a chance that First Direct effectively offset the CC debt against the current account? It may be they were allowed to do this.

 

However, whether they are allowed to do it in a way which increases an overdraft is questionable - doesn't sound fair to me - but if they were permitted to do this (would be in the T&Cs), it would get them out of the CCA issue.

 

Look forward to getting to the bottom of this one!

Link to post
Share on other sites

yes cca cl finance and keep paying for the time being.

 

HSBC have done the same to someone else I know. They combined a managed loan and overdraft and then sold it on as a single debt. They then claim it is one debt and just for an od so they can try and wriggle out of complying with the cca request.

I SAR'd hsbc and got the info i needed to prove it was two debts.

 

 

Similar scenario with Moorcroft. The original creditors were even kind enough to include a final copy of the bank statement in the SAR paperwork which showed a teeny tiny overdraft balance before 3 accounts were flogged out and amalgamated as one. The CCA request only returned a current account application form.... nothing else. Well they couldn't, could they? ;)

 

Stupid bergers... :D

Link to post
Share on other sites

Just to check, the loan will be covered under s77 of the CCA and the overdraft is not covered. Is that correct? So my letter should make the request under s77?

 

Thanks

 

Yes.... s.77 for the loan. :)

 

Make sure it goes off by rec. delivery, enclose a PO for the £1 fee (not a cheque) and don't use a normal signature.... just initial or print.

 

http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter

Edited by PriorityOne
  • Haha 1
Link to post
Share on other sites

Overdrafts are covered by the CCA but have a sec.5 exemption, don't ask me what that means, I just know that there was a very long thread on here a while ago where it was discussed at great length, but do you think I can find it now!:rolleyes:

Edited by Bazooka Boo
Non alcohol induced typo!

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Link to post
Share on other sites

Overdrafts are covered by the CCA but have a sec.5 exemption, don't ask me what that means, I just know that there was a very long thread on here a while ago where it was discussed at great length, but do you think I can find it now!:rolleyes:

 

Much harder to prove... CCA sec. 74 if I remember rightly BB

 

:)

Link to post
Share on other sites

Ta da! I knew if I looked for it hard enough, I'd find everything but what I was looking for!

Here you go PO, some light reading for you:D

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/237096-overdrafts-covered-ccas.html

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Link to post
Share on other sites

  • 2 weeks later...

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Link to post
Share on other sites

I wouldn't SAR anybody unless/until they produce an enforceable CCA for you because the £15k remains an unforceable debt until that time.... and is way beyond anything you could hope to reclaim back in charges.... ;)

 

Hi, the reason I was wondering about the SAR was to establish how the amount was made up. I know that most of it was a personal loan, some of it was overdraft and possibly some of it was credit card too. I honestly can't remember; it was during "head in sand" times. It was defintely First Direct that lumped the whole lot together.

 

Cheers

Link to post
Share on other sites

 

Letter sent BB.

 

Should I stop payment? I'm a bit concerned that this is now off my credit file and I don't want to trash it again. Mind you, that's probably what they rely on !

Edited by The Cappuccino Kid
spelling
Link to post
Share on other sites

Yes stop payments to them.

 

Having just read your last post, you say that you think it is a combination of a Loan, Overdraft and possibly CC?

 

Are they asking for each separate amount or are they asking for one figure, which could be them having amalgamated all two/three amounts together?

 

If they have lumped them all together then this is unlawful as each debt is a separate debt and comes under different parts of the Credit Act.

 

If they have done this then they need to be told to separate each account as they are treated differently, and get a copy of their complaints procedure aswell as complaining to the FOS.

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Link to post
Share on other sites

Having just read your last post, you say that you think it is a combination of a Loan, Overdraft and possibly CC?

 

Are they asking for each separate amount or are they asking for one figure, which could be them having amalgamated all two/three amounts together?

 

It is definitely a combination. They were amalgamated by First Direct and then I went through Metropolitan etc before the debt was flogged to CL Finance about 3 years ago.

 

If they have done this then they need to be told to separate each account as they are treated differently, and get a copy of their complaints procedure aswell as complaining to the FOS.

 

Should I be complaining to First Direct or CL Finance? I think it might be worth a tenner to send a SAR to First Direct as I assume the result would show the amalgamation of the debt.

 

Cheers

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...