HSBC Offer which will reduce outstanding debt on a seperate account?

[gathers54]

Hey

 

I received an offer today from HSBC which i am happy with. The offer refers to 2 loans which were settled in 2005 and 2008.

 

I however defaulted on a seperate loan in 2010 and the majority of the balance remains outstanding.

 

They have stated the monies will be used to pay off some of the outstanding debt. Can they do this? After all the PPI reclaim relates to a closed account?

 

The account still outstanding remains with HSBC though i have had a third party DCA write to me.

 

Any advice is appreciated

[ims21]

If HSBC still own the debt then they can off set against notified arrears only.

 

If they have sold the debt then there can be no set off.

[gathers54]

Thats annoying. I am not sure if they still own the debt or not.

 

Now i read on here about banks paying off against an existing balance for the account in question but i didn't realise they could offset the money against a seperate account with a different account number.

[ims21]

Yes they can if it is within the same banking group and only against notified arrears.

 

If the account had been sold you should have received a Notice of Assignment whicvh is basically a letter from one or both of the parties telling you that the debt has been sold/bought.

 

A check of your credit file should confirm who owns the debt.

[dx100uk]

yep get your CRA file

 

see my sig below

 

 

noddle is free.

 

if you have not been receiving REGULAR letters

entitled

notice of sum of arrears for the runing debt

 

then they will have a difficult time in off setign against arrers NOT notified to you.

dx

[gathers54]

Thanks for your replies IMS and DX, Its appreciated.

 

I checked my CRA and it does state HSBC own the debt.

However, i have had previous letters from Lewis DCA regarding the amount outstanding.

 

I contacted Metropolitan collection services via telephone

and established that the debt was sold

and owned by Lewis DCA.

 

I asked whether they were chasing the debt on behalf of HSBC or was it owned by Lewis.

I was told it was now owned by Lewis and not HSBC.

 

Then i was informed HSBC have recalled the debt in order to pay the PPI refund and once that offer is accepted the debt will go back.

[dx100uk]

stay off that phone!!

 

writing ONLY!!

 

dx

[dx100uk]

yuo REALLY ned to get yr CRA file

 

that will tell you the owner of the debt

 

DONT believe a word a DCA says on the phone ever!!

 

if they debt has ben sold

 

halifax cannot offset against it.

 

someone is talking BS here

 

dx

[gathers54]

That's the first time i have spoken to a DCA in many many years.

 

I got both my Credit Files from Equifax and Experian and both say it is owned by HSBC but like i say, Lewis have been writing to me for the past year.

 

Time to write a letter to HSBC i think

 

Are there any templates or any information to assist in my reply?