HSBC & Metropolitan advice required

[blossomgreen]

Dear All

 

Im after some advice from those more in the know as I havent come across such an issue before!!!

 

My boyfriend has recently followed my lead and cca'd all creditors.....He has had mixed results but we have a problem with cumulative HSBC credit.

 

He has 2 loans.......and 1 overdraft.

 

The bank have written advising that they do not have a signed credit agreement for one of his loans. (approx £3000) ..the other two accounts seem legitimate to pursue in court if he doesnt pay. He wants to enter into a self administered DMP....as I have done. However he doesnt want to enter into a DMP for the other loan until he gets in a stronger position to enter a full and final further down the line.

 

Anyway.....to the point....HSBC have sent all debts to Metropolitan.....they have duly responded by amalgamating all of the debts under one reference and have asked that he enters an arrangement with them to pay 1 payment to all.....Today he has received a letter asking for a monthly payment towards the debt....they havent said anything about freezing interest etc on his overdraft.....

 

Can they do this???? surely they should treat all accounts separately.....??? Im stuck!

 

I look forward to a response from my fellow caggers!

[dx100uk]

met will only be collecting and you are under no legl obl to neg with them

 

at the end ofthe day

 

tthey DO NOT have to GIVE you permission to enter your DMP

YOU TELL THEM!!

 

what they are going to get and when

 

YOU take control of your finances NOT THEM!

 

dx

[citizenB]

You certainly want to be careful about them rolling all the accounts under one reference.. in the event of litigation it will suddenly be very blurred that there were 3 accounts and not the one.

[blossomgreen]

Hi and thanks for responses!

 

My plan of action is to write to them (on behalf of my fella) and advise that I will only deal with them if they deal with each account separately.

 

Is there anything else that you think I may add to the letter. I want them to know I mean business.

 

I'm getting used to my own DMP now after 2 years but hadn't come across HSBC tactics before.

 

Cheers in advance

Blossom x

[Tingy]

I'd be inclined to say you believe that this is unlawful without your consent, which you are not giving. If they know of a law allowing them to do what they're trying I'm sure they'll soon tell you. Also, looking down the line to F&F's which you mentioned, you may be in a position to offer a F&F on one debt,possibly two, but maybe not all three. It is therefore in your interests to keep them separate. Finally depending on what the debts are exactly, they may all be governed by different legislation, so again it would be in your best interests to keep them separate.

[victoria_siempre]

Hi Blossom

 

If you think they haven't bought the accounts (and it looks like they haven't), one might request a notice of assignment under European Credit Directive; in my experience DCAs do not like this. This directive makes it clear that in the absence of said notice (even if only an equitable assignment) nobody can lawfully demand money be paid to other than the OC: for some reason DCAs do not like this.

 

love

 

vic

[Tingy]

Hi Vic!x

 

Blossom Vic is absolutely right as usual. The EU Directives are very underused (I think only Vic and I use them!) but are a super piece of legislation. I wholeheartedly endorse her advice.