HFC / HSBC sells off debt to Lowells

[Lokur]

Dear all,

 

I just recieved a letter from Lowell financial stating they had bought a debt,

along with a letter from HSBC (HFC) saying they had sold it.

 

The stated amount was ~£8000. (Both letters was in same envelope,

 

I assume Lowell has been granted permission to write the letter from HSBC)

 

The debt in question was opened 2007, and within a year contested as there was a PPI attached

that I never had asked for, nor would cover me as I was a contractor at the time.

 

They stopped chasing me as I kept contesting the debt due to PPI.

 

It was defaulted in 2009.

 

They have not contacted me since.

 

I've been banking with HSBC ever since so they have always known where I have been living,

and they have given me a credit card and £3000 on overdraft since.

 

I've never once not paid back these every month

 

I've been what would be seen a model customer,

except for refusing to pay the debt which had a mis-sold PPI attached

 

The Original loan was for roughly £5000 and the PPI attached was about £2000

 

I think I paid £350-400 a month for 7-8 months till I realised the PPI was on there

and that it was also not possible to claim on due to being a contracter

 

I believe HSBC just sold off a lot of debt to Lowell,

I guess I have been caught in the flood

 

Lowell have not sent me a chase for the debt yet,

just a letter saying they now own it.

 

What should I do at this stage,

bearing in mind this debt is probably going to be statute barred in less than a year?

 

Sincerely yours,

 

Lokur

Edited November 18, 2013 by Lokur

[dx100uk]

did you ever get the PPI back

 

 

prob wipe the debt out now.

 

 

have you all the statements and the agreement?

 

 

dx

[Lokur]

No I never had the PPI payments returned.

 

As they haven't chased for near 5 years,

I didn't bother with a PPI claim I figured it would eventually get statute barred and I'm happy either way.

 

I believe I have the original agreement, but I won't have all the statements.

 

I do know I have some.

 

P.S. How did you format my post, I tried 3 times to add spaces...

[dx100uk]

hit the multi coloured AAaa icon top left first before pasting the text.

 

dx

[dx100uk]

so when did you last pay them?

dx

[Lokur]

I'm not 100% sure, but I believe the last payment was in the winter 2008/2009.

Kind regards, Lokur

[dx100uk]

ok so's not statute barred then.

 

i'd get an sar off to HFC and get the statements.

 

dx

[Lokur]

I've sent a SAR off to HFC, I've had no reply and no further contact from Lowell.

 

My Default has now also mysteriously vanished from my credit file.

[dx100uk]

I would guess the default that was on the account has reached its 6th birthday?

 

dx

[Lokur]

I was under the impression the default was just 5 years,

 

but I could be wrong and that it would come off end of this year 2014.

 

However,

 

I've not had any answer to my SAR at HFC.

 

My cheque for £10 has not been cashed either.

 

However I just had a letter from Lowell, offering the following:

 

Full and final, with 25% discount.

 

Or Pay £60 a month till it's paid off.

 

I've yet to discuss this debt with Lowell in any way,

 

while waiting the outcome of my SAR.

 

Lokur

[dx100uk]

discount offers usually mean there is something WRONG with the debt.

 

i'd ring HFC and ask about your SAr request

 

what is going on with it.

 

they have 40 days.

 

dx

[Lokur]

It says I have 21 days to respond to their offer, should I send them a letter or just ignore for now? I've read on here they have been quite trigger happy with court issues, I'd rather it not go to court.

[dx100uk]

you call the shots not them!!

 

a DCA is NOT A BAILIFF

 

and have

no such legal powers..

 

dx

[Lokur]

So I should just ignore Lowells till HFC responds to my SAR?

[dx100uk]

all dca letters are designed in one way or another

to frighten people

or entice people to contact them

 

so you can then be told a whole load of lies and rubbish

over the phone that if they put in a letter

 

they'd get closed down for

 

this is why the authorities are making it compulsory for them to record EVERY call as from april

 

thts why lowlife like lowells

are sending out as many threats and 'spoof' court claims

as they can

to get them through court hoping the defendant ignores the claim

 

and they win by default,

75% of the money DCA's EARN they have no legal right too at all.

 

and goes straight into the profit bin

to further fund the harassment of 100'000's of more people

on debts they most prob do not even owe.

 

dx

[Lokur]

Still no statements from HFC. I had a letter from Red stating they where taking me to court. I sent a letter back asking them to prove the debt, I've had a letter back stating my account is on hold till they can prove it.

[Lokur]

I've just had a letter from Lowell with a signed agreement, and a letter stating that all the statements are to follow in a separate cover.

 

I'll scan these up as soon as they arrive.

[Lokur]

No response to SAR, and no statements arrived yet.

 

I've had a signed agreement through.

 

I've no idea what is taking so long...can't be that hard to print off some statements from their computer system?

 

-Lokur

[dx100uk]

so did you ring hfc as advised back in feb and ask them where the data is?

[Lokur]

Yes I did, the person in question said they where struggling to find all the documents as they had been archived and that they would be with me shortly.

 

They have not cashed the cheque either.

 

@DX quick question, if HFC charges my HSBC account the payment, and then HSBC retracts the payment as there is no coverage (By direct debit) does that count as a payment towards statute barred limitations?

 

-Lokur

[dx100uk]

payment for what?

 

hfc/hsbc are the same bank

 

if the debt has been sold to lowells

then they cant off set

 

if that's what you mean

 

dx

[Lokur]

I went over my old HSBC statements, and

 

in November 2008 I made a payment to HFC on the loan,

 

then HSBC recalled the payment due to not enough money in the account.

 

This happened again in December and January when i cancelled the Direct Debit.

 

Would the statute barring be from January 2009 or from the last real payment?

 

-Lokur

[dx100uk]

typically the SB clock for loans begins to tick from when the OC 'could' have gone legal

this normally equates to the issuing of a default notices' date.

 

which 'should' be issued following the third missed payment.

 

dx

[Lokur]

The default was issued over 6 years ago,

but I made payments after the default notice,

after i lost my job I couldn't pay,

 

it was defaulted and

 

after a while I got a new job and started paying.

 

I stopped paying again as a result of finding out there was a PPI insurance on the loan

that I hadn't asked for, didn't want, and hadn't received any Terms and conditions for.

 

I Disputed the debt and demanded that it was taken off before I would pay anything.

 

I have not heard a word from HFC since re this debt untill it was sold to Lowell.

 

The default is definitely cleared from my credit file now.

 

-Lokur

[Lokur]

Just had the statement true from Lowell along with a letter.

 

The letter states that Lowell and HFC see no reason this debt shouldn't be paid and that they reserve the right to issue court proceedings within 7 days without further notice.

 

The statement show that the last payment on account was December 2008.

 

I'll scan the statement and the agreement up.

 

I think technically they can't assign the debt to Lowell due to the dispute, but I'm not sure how strong a defence that really is?

 

-Lokur