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HFC Advice

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Afternoon all,

 

Back in 2004 I took out a finance agreement with HFC for an amount of £1,500 through PC World. It was on an interest free for a year deal.

 

I was getting to the final payment and was approached by HFC to ask if I wanted to extend the deal for another year.

 

I declined this offer and any remaining balance had the interested applied and I continued to pay.

The loan eventually came to an end and I asked them to close the account and that was that.

 

Moving onto 2006 I was feeling the pinch financially and had lost my job.

 

I was contacted by HFC and asked if I'd like to take some further finance on this original agreement which seemed to work like a credit card

and hadn't been closed after my original settlement of the account.

 

In desperation I agreed and borrowed £8k.

 

Things got worse and I couldn't pay so I was pursued the usual way and with other debts mounting

 

I went into property repossession and my unsecured debt went on the back burner.

 

2008 after hearing nothing from HFC after my repossession in 2006

 

I receive legal papers from them advising that unless I came to an agreement that they would enforce a letter of inhibition that they had managed to obtain legally.

 

They also informed me that the original balance of £8k was no longer applicable but that I owed with charges an amount closer to £25k.

 

Nothing more was heard from them as I have never made contact so I'm assuming that inhibition on my property still stands.

 

Late 2008 they arrested my wages which resulted in me being dismissed from my (then) employment.

 

They called soon after as they were informed that I was no longer working there and asked for the money.

 

I told them the situation and that I wasn't working and had been sacked. Again after that call nothing was heard.

 

Today I have received a balance statement showing only the original £8k balance and now a letter which reads:

 

Please be advised that the last payment received in respect to this account was on 7/11/08,

we are secured through a letter of inhibition,

please advise what payments are to be made to prevent enforcement.

 

I have no idea what my next move should be.

Edited by harper

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urm...

 

i bet there is more to this than meets they eye.

 

doesn't sound quite right to me.

 

i'd SAR HFC and lets see their cards.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Thank you, I'll do that over the weekend and update.

 

I've checked a few of the other HFC threads and they don't seem to give up trying to recover the debt. The original agreement was done through Household Bank if that matters any.

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You say you went into property repossession? was this the only property you had?

 

send the sar

 

we need to find out:

 

when you last made an actual payment?

 

when they got a decree?

 

what date the inhibiton order was granted?

 

and you need the date the property was reposessed

 

Ida x


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You say you went into property repossession? was this the only property you had?

 

send the sar

 

we need to find out:

 

when you last made an actual payment?

 

when they got a decree?

 

what date the inhibiton order was granted?

 

and you need the date the property was reposessed

 

Ida x

 

 

The property is the only property I had and it was repossessed Aug 2006. I managed to just before the recession hit lenders to buy a new property (which I am still the owner of) in March 07

 

The one and only payment that has been made to the account was the wage arrestment in Oct 08.

 

I have no idea about a decree but the original inhibition was granted Sept 08.

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Just an update on this.

 

I have to remortgage my property very early in the new year and of course need to get this sorted.

 

I haven't sent the SAR as yet but will do so in the next week or so and have noticed that this enforcement and debt does not appear anywhere on any credit file I have which is strange.

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well it ifs not on your cra file then it wont affect it

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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i'd check www.trustonline.org.uk too

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Thank you so much Dx.

 

I'm not worried about it affecting my credit score as I'm working hard on that but I have some family money to repay* and having an additional 10k enforcement by HFC is another headache I could really do without.

 

 

*My last property was repossessed and my brother kindly raised the deposit I needed for the place I'm in now, his mortgage term has ended and I have been given a year (by his lender) to repay the proceeds which amount to £30k.

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I how have the report and

 

it shows an unsatisfied judgement of £207 which I have no idea what it is and the report doesn't tell me what it relates to.

 

Would I need to contact my local court for this information as my credit report doesn't show any amounts that match this.

 

My credit report shows two amounts both relating to a bank account I once held and in both instances I have contacted the agencies involved to arrange to pay off these amounts.

 

My problem with this is that the bank has sold on the debt and are not entirely sure who they have sold the debt to but advised that someone would be in touch.

 

This was 3wks ago so I have raised a request to have it removed from my credit file.

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Yes you would need to contact your local court to get the info.

 

You can make payment direct to the bank themselves if you have the account no/sort code


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Thanks Ida.

 

The bank stuff is a bit trickier as they closed down the accounts that I owe on approx 5 or so years ago so they wouldn't accept the money I offered them as they had no valid accounts to post against.

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wait a minute - the bank you owe 5 or so years ago?

 

If it was 5 or more years since you last acknowledged the accounts then they are statute barred.


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how many debts are we dealing with here please??

 

this is getting confusing.

 

you should not 'wiily nilly' be simply paying anyone

 

esp a DCA, and esp on a bank account debt

 

that prob mostly PENALTY charges.

 

they'll never go near a court with it.

 

DCA's are NOT bailiff and HAVE NO SUCH LEGAL POWERS>

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I have the remaining debts:

 

HFC - I owe them 10k unsecured and they have gotten to the stage of inhibiting the sale\remortgage of my house,

this was put on my deeds back in 2008 (doesn't show on credit reports)

 

Smile - I had a current account and credit card. The current account has supposedly £415 to repay and the credit card has £165 (these both show in credit reports)

 

Family (no legal details drawn up) - £30k

 

The ccj search has thrown up an amount of £207 which I have no idea what it relates to.

My local court is open tomorrow so I plan to phone them to find out the process to find out what this amount is for.

 

The major issue I had when my money troubles started is that I knew down to the last pound who and what I owed

but once my name was on a blacklist I was getting all sorts of random debt requests.

I've had to query egg cards that I haven't ever had, council tax arrears for another county etc etc.

 

It's taken me 6 years to finally get to the stage that I'm more or less clear and my credit rating isn't great but getting better.

 

If I remortgage I will manage to clear the £30k but I want to find out first how the inhibition will affect this and/or if I can legally get it removed.

The only correspondence I have received from HFC in the past 5 years is the official inhibition and an annual statement.

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a Bill of inhibition means that the outstanding debt can be claimed from the proceeds of the sale of land or property.

 

http://www.landsearch.net/bankruptcy.asp

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?137972-Schedule-Of-Inhibition

 

looks like & i recommend

 

you get an SAR off to HFC ASAP.

 

i've never known an HFC eebt NOT to be atleast 50% inflated with all manner of 'compulsory' insurances & PPI

 

as well as heeps of unlawful PENALTY charges.

 

not par chance already got the agreement and statements have you?

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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The original amount was £25k+ so I think the amount they now say is outstanding is only the amount borrowed but I'll query it straight away.

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how did you get an unsecured loan of that value out of HFC aithout it already being secured on a property?

 

something is beginning to smell here.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I have the remaining debts:

 

HFC - I owe them 10k unsecured and they have gotten to the stage of inhibiting the sale\remortgage of my house, this was put on my deeds back in 2008 (doesn't show on credit reports)

 

Smile - I had a current account and credit card. The current account has supposedly £415 to repay and the credit card has £165 (these both show in credit reports) - default dates?

 

Family (no legal details drawn up) - £30k

 

The ccj search has thrown up an amount of £207 which I have no idea what it relates to.

My local court is open tomorrow so I plan to phone them to find out the process to find out what this amount is for. - ask for a copy of the CCJ or atleast what is in the judgement box

The major issue I had when my money troubles started is that I knew down to the last pound who and what I owed

 

once my name was on a blacklist I was getting all sorts of random debt requests.

I've had to query egg cards that I haven't ever had, council tax arrears for another county etc etc.

 

It's taken me 6 years to finally get to the stage that I'm more or less clear and my credit rating isn't great but getting better.

 

If I remortgage I will manage to clear the £30k but I want to find out first how the inhibition will affect this and/or if I can legally get it removed. The only correspondence I have received from HFC in the past 5 years is the official inhibition and an annual statement.

 

 

..dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I've just checked and the defaults are:

 

Smile credit card - defaulted from Oct 2007

 

Smile current account - as before from Oct 2007

 

They have no accounts for any repayment to be assigned to but the main reason I wanted rid was to get them off my credit report which is still quite poor although getting better.

 

 

HFC started as a loan for a personal computer back in 2004 and it was on a rolling credit basis which I wasn't aware of and after the year time limit I paid it off and closed it (or thought I had).

 

Feb 2004 initial credit of 1k

 

March 2006 I was invited to their office to apply for some more credit and I took out £8k

 

August 2006 I was in dire straits and serious financial difficulty

 

By 2008 they had stuck an inhibition on my property for this unsecured debt and told me I owed them just over £25k with the original amount of £8k and the rest in fees and charges

 

2012 - They've been sending me an annual statement (I don't have that to hand at the moment) with the £8k on it but no other correspondence.

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I've just checked and the defaults are:

 

Smile credit card - defaulted from Oct 2007 - you are in scotland, write and ask for it to be removed [5yrs SB]

Smile current account - as before from Oct 2007- you are in scotland, write and ask for it to be removed [5yrs SB]

 

They have no accounts for any repayment to be assigned to but the main reason I wanted rid was to get them off my credit report which is still quite poor although getting better.

 

.

 

..dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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HFC started as a loan for a personal computer back in 2004 and it was on a rolling credit basis which I wasn't aware of and after the year time limit I paid it off and closed it (or thought I had).

 

Feb 2004 initial credit of 1k

 

March 2006 I was invited to their office to apply for some more credit and I took out £8k

 

August 2006 I was in dire straits and serious financial difficulty

 

By 2008 they had stuck an inhibition on my property for this unsecured debt and told me I owed them just over £25k with the original amount of £8k and the rest in fees and charges

 

2012 - They've been sending me an annual statement (I don't have that to hand at the moment) with the £8k on it but no other correspondence.

 

oh dear poor HFC.

 

if what you are saying is true

 

 

that an £8k debt turned into £25k+ because of fees and charges

 

then that SERIOUSLY needs to be challenged.

 

did you contest ANY of the hearing s

 

wht happened at the decree stage?

 

were you aware of ANY of these cases taking place?

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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I have requested that the Smile debts are removed from my credit file.

This was done a couple of years ago and denied but I have done it again recently so I have just under 28 days before I know if they will or not.

 

Back again to HFC

- They did follow the default process by getting in touch via letter and telephone,

even sending an agent (not bailiff) to my home address back in 2006

by then I had a bit of a breakdown and buried my head in the sand.

 

I didn't actually acknowledge this debt verbally or in writing at any point during these proceedings.

I didn't hear from them in a while

 

in 2008 they arrested my salary and applied the inhibition (I have no idea how they found out where I worked)

and due to that I was sacked, this was communicated to them which they didn't acknowledge and now we're up to present day.

 

ETA - one payment to them was made due to the wage arrest.

I can't remember how much but I'd imagine it'd be a couple of hundred pounds,

due to this I've been counting since 2008 as the time I'm counting the six years from.

 

I would happily sit them out at the moment but as I mentioned before my brother remortgaged his house to lend us a deposit

(we'd be homeless otherwise) for the property we're in and now that his mortgage term has come to an end

the lender has given him an additional year to redeem the mortgage.

 

The only way I can do this is to remortgage my own place and with this inhibition just makes it so much harder.

Edited by harper

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smile etc - if you've made no paymens in 5yrs, they are SB'ed now, [were not before] demand they are removed.

 

HFC - so did you actually get a decree first - before the inhibition order?

 

SB is nowt to do with this now, the inhib is timeless.[20yrs]

 

are you saying you know all the paperwork

went to you inc court papers,

you just ignored it all?

 

still not right though

 

you need to get as much paperwork from what ever source you can.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Thanks for the help Dx.

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