Cabot and Moorcroft repaying Lloyds and Hsbc Credit cards

[Ecik1981]

Good evening. 

Just discovered this forum and would like to ask for some help. 

 

I got defaulted credit card account from Lloyds since Dec2016 and repaying £5 a month to Cabot Financial. (still owing £5085)

 

Also got defaulted credit card from HSBC since Nov 2016 (owing £3889) repaying £5 to Moorcroft debt col company plus defaulted overdraft HBSC account since Aug 2017(owing £389) paying £5 a month to Moorcroft. 

 

My situation worsen due to pandemic and my current Lloyds account is overdrawn by £5000 and is now with Lloyds collection department.

All fees and interest been frozen at the moment. 

 

I opened another account so they can't collect any of my income at the moment (it's only Universal Credit at the moment which barely covers my priority bills). 

 

May I ask for some advise

what should I do if Lloyds will sell my new debt to debt collection company.? 

 

Sorry for a chaotic letter but English is not my first language.

Also I don't fully understand how the English law works so not sure what decisions are wise to make. 

 

I can't find any solution to this situation and it causing me a lot of stress and can't see any light at the end of that tunnel.

Me and my wife are trying to get out of this situation somehow but we are really struggling. 

 

Any advise would be greatly appreciated. 

E. 

 

 

[dx100uk]

well 10/10 for opening a parachute account and stopping LLoyds dipping into your meagre income.

 

who are moorcrofts stated client please on their letters?

 

as for cabot, send them a CCA request

when did you take this card out please?

 

 

[Ecik1981]

Accourding to credit carma Lloyds credit card Jun 2013

Hsbc credit card July 2007

Hsbc Overdraft (acvount opened in 2004). 

 

I'm not understanding the question about Moorcroft. 

 

On their letter it states only:

Moorcroft Group, 

Moorcroft House, P. O Box No. 17

2 Spring Gardens

Stockport SK1 4AJ

Soory but have no acces to old letters from them tonight. 

Many thanks for your reply

E. 

 

Should CCA request be sent by email or through post or by phone call? 

[dx100uk]

have a look at the moorcroft letters 

they will state 'our client' is xxxx on the left about 3" down

 

cca request only ever goes by royal mail only.

1st class with free proof of posting from any PO counter 

to cabot for the lloyds card.

 

[Ecik1981]

Thank you. Can't find any documents from Moorcroft with this information on though. 

 

[dx100uk]

moorcroft don't ever buy debts

they solely work on behalf of clients.

 

as your credit file states HSBC that means the OC still owns them.

 

when did you open the OD?

when did you take the card out?

 

dx

 

 

 

[Ecik1981]

Hsbc credit card 2007

Overdraft was set online and can't get the dates but around 2010

[dx100uk]

then i'd simply stop paying the HSBC OD debt

for an A/C of that age, there will undoubtedly be far more OD fees and the interest those have caused than the outstanding balance.

 

£4k debt on a credit Card is quite a sum, when did you actually last use it, bar paying anything into it?

2007 is of a date whereby agreements might possibly be dodgy...it does make one wonder why HSBC has never sold this debt on, as paying a small token payment since 2016? is only ever achieving one thing...running the SB date to infinity.

[Ecik1981]

Credit card was used maybe in 2014 last. then i was only repaying min. payments till 2016 but this was killing me and I had to stop. On credit reports shows both credit card and overdraft as HSBC accounts. 

 

So if account is defaulted in 2016 would it disappear from credit file after 6 years or will stay there until is paid off? 

 

I really thank you for your time. 

E. 

[dx100uk]

hey no sweat

any defaulted accounts vanish from your file on the defaulted dates 6th birthday

paid or not, paying or not.

doesn't mean the debt is not still owed mind.

 

as you've been paying for 6yrs+ pers i think i'd simply stop payments on that one too.

ignore everyone, and of course abide by the golden rules

 

never ever talk on the phone about your debts,

esp to a powerless DCA

they ARE NOT BAILIFFS

and have 

ZERO legal powers on ANY debt no matter what it's type.

 

they'll eventually, like the OD debt, they'll sell it on.

 

if either of those happen and you get a Notice Of Assignment pop back here and we'll advise further.

 

in the meantime don't move without informing creditors.

 

[Ecik1981]

Just to fully understand. :

I should stop paying :

HSBC credit card and Overdraft

Ask for CCA from cabot

 

How about very recent LLOYDS overdraft debt. 

Just got the letter today stating that they defaulted this account and collection depart.

will contact soon to arrange repayments.

 

I guess I just need to wait to see what they will come up with. 

 

But before any of that I should write to all creditors to inform them that I will stop paying them?

Due to my bad financial situation? 

 

I know I'm asking a lot but appreciate your help Sir. 

E. 

[dx100uk]

well you could go down the covid route and ask for a payment break etc etc but thats really only delaying the inevitable.

but if you did that would only p'haps be worthy to lloyds

when ws this A/C opened and has the allowed OD amount slowly crept up when they've given more and more to you?

 

as for everything else..you seem to have my ideas correct.

 

i've moved your thread to the debt self help forum.

there are numerous like threads here to read.

 

dx

 

 

 

[Ecik1981]

I requested to Lloyds to check if increase of my overdraft was done correctly as I had already bad credit score and if they checked my affordability then. There's a investigation going on. 

 

I've requested that over the phone when I informed them that I'm no longer able to pay overdraft fees.

Do you think that should be done in writing?

I. got ref number for the investigation but that's all.

 

Please advise

[dx100uk]

ah good idea i was going to move toward looking at any irresponsible lending aspects

lloyds can be very quick to up your OD limit with necessarily informing or asking you.

 

don't forget you can use secure messaging on the LLoyds interweb portal.

 

i pers would never rely on OC's to allow themselves to investigate themselves when you don't p'haps have all the info.

send them an SAR it could be very revealing.

 

as for using the phone to ANYONE from now on

refuse that as you might well need a papertrail if things escalate and you move to asking the FOS to become involved.

 

dx

 

[Ecik1981]

 

As not english person I'm finding it really difficult to deal with all this.

. I'm not even sure what SAR is and where to send it. 

 

When I asked lloyds to start investigation about irresponsible lending (all done over the phone nearly 4 weeks ago) they've gave me ref number but didn't hear anything back.

 

They've sent me a letter about overdraft that it has all fees and interest stopped and default will go on this account for 6 years and that the collection department will contact me. 

 

How can I start an investigation about irresponsible landing the right way? 

 

Please advise and thank you

[dx100uk]

click sar 

send them one.

 

once you have the info in about a month

pop back here..

 

 

 

 

[Ecik1981]

Should I send it to any Lloyds address or there's specific one? 

Thanks again. 

It means a lot knowing there's someone who is willing to help. 

I appreciate it

[dx100uk]

see the lloyds forum on this site

greshan house address i believe.

 

dx