Hsbc

[strawberry1705]

Hi Everyone,

 

I am currently going through a nightmare trying to obtain an original copy of my loan agreement with HSBC regarding a loan that I took out with them back in 2004.

 

Like most people, I have struggled to keep up with the cost of the agreed payments, however I am still making payments to one of their appointed debt collectors CL Finance at a mutually agreed rate.

 

I checked my credit report and have discovered that there is a default notice recorded against me, I have since received a letter from CL Finance's appointed solicitors threatening to take me to court unless I pay them the outstanding balance by 29 July 2010.

 

I was advised by the branch when I took out the loan to apply in writing, which I did but received no response. I even sought the help from one of those companies who try and help you with the mis selling of the ppi claims only to receive a letter from their solicitors telling me that as they have been unable to obtain a copy of the loan agreement they have closed my case.

 

I am unsure what to do now for the best and was wondering of there is anyone out there who can lend a helping hand?

 

Thank you in anticpation.

[BankFodder]

Firstly, keep on paying at the agreed rate - even if they say they won't accept the payments anymore. They are bound to accept whatever you pay them. If you pay the agreed rate then there will be little they can do.

 

Keep on asking for the loan agreement. At the same time respond to the solictors and to the bank that you are being threatened with a court action on an unenforceable agreement and this is unfair behaviour and that you will report them to the OFT and to Trading Standards and alos to the FOS. Make those complaints immediately in writing. Begin your complaint to HSBC that they have not supplied you with the loan agreement and that they are threatening you with legal action over an unenforceable agreement. Insist on the complain going to the FOS - unless that magically come up with the agreement.

 

Keep records and notes of everything that happens.

 

If you have been mis-sold PPI then you should begin a complaint about that too. Put your claim in to the bank and tell them you want that matter decided by the FOS. Unless you have very clear evidence of misselling, this will be the best way to go. If you have an obvious case of misselling, then the courts will be the best route.

 

Make sure that you start all of your complaints seprately on separate letters in separate envelopes.

 

Get going. Start it all now.

[cerberusalert]

Moved to Debt Collection Forum.

[Undercover-Elsa]

Hi Strawberry,

I'm not clear from your post, so to clarify....When you have made your written requests for a copy of your loan agreement, have you made them formally under the rules of Section 77 of the Consumer Credit Act 1974?

If not, you need to do so immediately. The template letter is HERE

 

Follow the instructions with the template. Enc £1 Postal Order, dont sign, hand print your name (or use CAGs signature protector, Signguard) and send by Recorded Delivery. Guard the receipt..staple it to your own copy of the letter.

 

If they do not supply it with 12 working days plus 2 days for posting, you can put the account is dispute.

This will provide you with some measure of prorection, and is a defence if they issue Court proceedings while they are in default.

Welcome to CAG, by the way..you'll get lots of help and support on here.

Shout if you need more help

 

Elsa x

Edited July 25, 2010 by Undercover-Elsa
Clarity

[Undercover-Elsa]

I would also send a Subject Access Request to HSBA, if you havent done so already...

Template in my signature above.

[strawberry1705]

Many Thanks for the replies that I have received. I can confirm that the letter with which that I initially wrote to HSBC with was a template from Martin's money tips not the standard template that you refer to now.

 

I have kept a copy of that letter however will ensure that I start with writing a letter to both HSBC and the firm of solicitors today acknowledging receipt of their letter and will send both letters via Recorded Delivery as suggested.

 

Thanks for the copy of the template, is there a standard letter to respond to the solicitors with?

 

Thanks again I feel as though a huge weight is beginning to lift

[cerberusalert]

Send a CCA request to the solicitors too http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter enclosing a £1 postal order & send recorded delivery.

[Undercover-Elsa]

Hi again,

 

Another point..did you receive a Default Notice? (In a letter headed "Important you should read this carefully"..Default Notice (etc)

If so can you dig it out (and the envelope it came in, if possible), let us know date of notice and date they required payment of arrears to remedy the default. Better still, if possible, scan it and upload it to Tinypic.com then paste the link in here. Remove personal details..account number, barcodes, name & address.

 

As Cerberusalert says above, CCA the solicitors too, with a cover note that you are suprised that they have threatened legal action as the account is in dispute and despite many requests no evidence has ever been produced that a signed agreement exists for this account, in order to clarify this once and for all I enclose a Formal Request under Section 77 of the Consumer Credit Act 1974 for a copy of the agreement.

I would stress that should you proceed with the threatened legal action it will be vigorously defended and a copy of the signed original agreement will be required in support of your claim.

 

 

Elsa x

[Craigbadger]

My bro had a Recent default from hsbc and it was about 8 days short so certainly worth finding.

[lord_tiger_putin]

HSBC do not issue valid DN's!

[The Debt Star]

You should also notify the Lending Standards Board (LSB) of the bank's antics. Familiarise yourself with the Lending Code and also the LSB's rules and regulations which are on their website. The LSB will not investigate individual complaints by they are obliged to investiagate Lending Code members like HSBC and can put pressure on them behind the scenes. HSBC are under an obligation to report any breach of the Lending Code to the the LSB and I'll bet my gran's false teeth they haven't.

 

Put the account in dispute and the DCA will back off. Make sure you write direct to Matthew Holt who is the senior Customer Services Quality Manager at HSBC. Send him letters by registered post. At first he'll get one of his monkeys to send standard letters to you and they won't bother to read them. But keep at it and eventually he'll pass it onto someone who HAS to respond.

 

In the meantime kick off your complaint about HSBC to the FOS. I would also email Consumer Direct and they will pass your complaint onto TS for you.

[strawberry1705]

Hi,This is great and definitely invaluable information, in relation to Howard Cohen and Solicitors I was unable to forward my letter to them by Recorded Delivery post as they have a PO Box number and apparently Recorded Post can't be sent there, however I have noted the date that it was posted and have also emailed them a copy, I am currently awaiting a reply having used the templates as suggested by Undercover Elsa and Cerburusalert.Will look into notifying the LSB and also familiarising myself with the Lending Code. To The Debt Star is Matthew Holt based at the Arlington Business Centre in Leeds as that was where I was going to send my Subject Access Request to as well as the actual branch where I initially took out the loan.I think that I may have a default notice letter in my files from HSBC I didn't keep a note of the envelope though will have a look through tonight and let you know how I get on.Thanks again its much appreciated.

[The Debt Star]

in relation to Howard Cohen and Solicitors I was unable to forward my letter to them by Recorded Delivery post as they have a PO Box number and apparently Recorded Post can't be sent there, however I have noted the date that it was posted and have also emailed them a copy,

 

All solicitors practices have an address. Use 'Find A Solicitor' on the Law Society's web page to locate them.

 

The PO Box is used for their debt recovery stationery. Write recorded to the buggers because they may deny receiving anything.

[strawberry1705]

I have managed to find a copy unfortunately of the default notice that I was served by HSBC. Not sure what I did with the original as the document is dated 11 May 2006.

 

The date which I was given to remedy the arrears was 24 May 2006. I have also located the solicitors address using the Law Society web page as advised earlier so will ensure that a further copy of my letter is submitted by Recorded Delivery along with a CCA request from them.

[the_shadow]

I have managed to find a copy unfortunately of the default notice that I was served by HSBC. Not sure what I did with the original as the document is dated 11 May 2006.

 

The date which I was given to remedy the arrears was 24 May 2006. I have also located the solicitors address using the Law Society web page as advised earlier so will ensure that a further copy of my letter is submitted by Recorded Delivery along with a CCA request from them.

 

Dont lose sight of the advice BankFodder gave you, get those complaints started and let HSBC know you are kicking up a stink

 

S.

[The Debt Star]

Dont lose sight of the advice BankFodder gave you, get those complaints started and let HSBC know you are kicking up a stink

 

S.

 

Yes. Write to Matthew Holt who is the senior manager of the customer service quality team (HSBC Leeds address). I always get a faster response to faxes I send (not from him personally but one of his monkeys). I then follow up with a recorded delivery hard copy of the letter. At present I copy everything onto the FOS.

[strawberry1705]

Hi all just wanted some advice following an update that I have since received from HSBC.

 

Before I started posting onto this forum I had instructed Chase Alexander Associates to assist me in obtaining a copy of the agreement from HSBC. I sent off a cheque for £10, I am not paying any fees to this company, but no doubt they will probably take a cut from the settlement if I am successful.

 

My query is, HSBC are requesting that I submit to them a formal notification advising them of my change of address, I'm slightly perplexed by this as not sure why they need to know I took out the loan when I was living at my Parents and since they have appointed both a DCA and solicitors on their behalf, as far as I'm concerned they have been fully made aware that I have now moved.

 

Not sure if this a delay tactic on their part or there is something else that they want to throw up as an obstruction, I'm feeling quite cynical about the whole process.

 

So when I contacted Chase Alexander I asked them to provide me with a copy of the agreement which they have said they are in receipt of from HSBC but would send me a copy of this at the end of the claim process.

 

I know that I may have made a drastic error in appointing Chase Alexander as I could have done this myself but at the time, I was just so desperate for help and as the only money I have paid is the £10 Subject Access request thought that this was a good idea.

 

I didn't realise that I had done this already, until receiving your guys advices, now I feel like a prat, please help

[strawberry1705]

Hi folks, just wanted to provide you with an update which I received from CL Finance following my strongly worded letter sent to Howard Cohen & Co Solicitors on 25 July 2010.

 

"We have been passed a copy of your letter dated 25 July 2010 which you have requested a copy of your credit agreement under section 77/78 of the Consumer Credit Act 1974. Please be advised this has been passed to us to respond as the creditor in the matter.

 

Please note that we do not currently hold a copy of the required document on site. Therefore, we are in the process of retrieving a copy for you. We confirm that while your request remains outstanding there will be no enforcement action taken against you.

 

Please note that although the agreement may not be enforceable while your request for a copy of it remains outstanding, this does not mean that your debt is wiped out. Any outstanding debt is still owed and you must continue to make payments."

 

Whilst I was very pleased to receive this letter in today's post I will still try and pursue Matthew Holt at HSBC, but was wondering whether I should be doing anything else in the meantime also?

 

As always any advice will be greatly received and appreciated

[Undercover-Elsa]

Any news on this, Stawberry?

 

Elsa xx