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GM CARD/HSBC Finance in Default - will it help to pay this off to get a loan?


shiblets
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Hi All,

 

I have a HSBC finance credit card,

I was hoping to take a loan out but i havent paid this credit card of £2800 since it was defaulted in Feb 2012.

 

I am being rejected for any application but this is the only default on my account.

I was wondering if I make an payment arrangement or settle the account will it make any difference

in applying for a 25k loan which is very much needed at the moment?

 

I understand a default is on your credit score for 6 years

however, as I have not paid anything at all on this HSBC credit card since 2012

so if i start paying something or offer a full and final settlement will this help me now

or will it make no difference whatsoever.

 

 

is there anything I can do with this account to improve my chances of a loan

or is it best not to chase them if they are not chasing me.

 

As usual all your help and time is very much appreciated!

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not a lot you can do sadly.

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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not a lot you can do sadly.

 

Regardless of the loan is it worth calling them or sending a letter to settle the account at a low rate? And I don't remember them sending a default letter is there a way to chase or question this?

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HFC GM cards date back to the 80's and 90's

have you actually sent HFC and sar to get all the statements.

 

 

why cant you prove an earlier defaulted date?

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 2 weeks later...

I havent sent SAR, to be honest I had forgotten about this account because they stopped chasing me

and its been sitting there for two years whilst Ive made no payments,

 

 

its only when I checked my credit information that it shows a default on my account

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sar time

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 2 months later...

I wonder if the bank charged you a percentage " Collection Charge" of 16.4 %.

 

 

If so you might be interested that this charge is illegal.

 

 

You might find details if you search [removed].

 

 

I would post the link but because I'm new to this site,I am not permitted to do so.

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and that's why we don't allow newbie's the permission to post links.

bank charges are unlawful not illegal [criminal]

 

 

dx

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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same still

 

 

not illegal [criminal]

but unlawful [civil]

 

 

dx

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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