HSBC & Moorgate

[timn]

Hi,

 

I am a little confused about something and was hoping someone can help.

 

I have been on a dmp for the last few years and

 

one of my debts was an hsbc credit card.

 

As far as I am aware the debt was sold to brittanic recoveries and

 

then being serviced by Moorgate along with another of my debts (MBNA).

 

However, today my HSBC debit card was declined and I was locked out of internet banking.

 

I called HSBC and they said it was related to my credit card account but that department was closed.

 

After insisting on an answer I was told that the accoiunt was frozen and funds allocated to my cc debt.

 

My question is are they allowed to do this if the debt has been sold to someone else? Seems a little odd to me.

 

Thanks

Tim

[filrobbo]

Was the debt sold or are they just collecting the debt,

 

and you need to be looking at these debts

 

they could be loaded with unlawful charges or missold ppi.

 

And have you got cca for the debts

 

you could be paying for something you don't need to.

[timn]

Thanks for the reply,

 

I have been through them all and they are all above board and legally enforceable.

 

I cant find the paperwork for this specific one but all the others for moorgate (including another hsbc)

say they have been bought by Britannica and collected by Moorgate.

 

I guess I will jsut have to call hsbc back in the morning and find out whats going on.

 

Am I right in thinking they cant take the money and pass onto Moorgate if they have sold it?

[renegadeimp]

Has it been sold or has it just been allocated? Banks can offset funds to another account you own, but not after its been sold.

[oleg]

You don't appear very certain.

 

Britannic don't collect for others so they must have been assigned at least one of your accounts [probably MBNA].

 

Moorgate are their in-house DCA.

 

But it may be MBNA only rather than your HSBC credit card too.

And you should in any case have received notices of assignment.

 

Are you certain HSBC said Moorgate [debt purchaser] and not Moorcroft [one of their favourite DCAs]?

 

Your HSBC current account has probably been used to pay towards your outstanding credit card debt via Right of Set-Off as Rene mentioned.

 

Yes it is legit. And underhand.

 

It is never wise to keep open any other account at a bank where you are in default on a loan or credit card.

 

You do need to get to the bottom of all this.

 

Have the D M P ppl kept you up to speed eg statements?

 

Are you using a fee-free service?

 

You need to ask MBNA who was assigned your account and what was your last payment date.

 

You should perhaps get an SAR off to original creditors.

 

Also be aware that HSBC could even create a second debt by way of an overdraft to pay off the credit card, though it's very unfair.

 

Make sure to find out when you call them again.

 

Don't throw correspondence away.

 

The confusion you're facing now explains why.

 

You said your accounts are all "above board" and "enforceable".

 

On what basis do you believe this?

 

If you have several debts you'd better make a list to give us a general picture then start a new thread for each.

[dx100uk]

I sniff a 'managed loan' syndrome here.

 

dx