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HSBC (personal account)


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Hi,

 

does anyone have an unauth APR figure for HSBC personal current account?

 

the closest i can find is 16.6% from their website but this seems too low ...

 

also, an address where to send the prelim letter?

 

thanks.

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  • 2 weeks later...

i am using Mindzai's spreadsheet to work out my charges and interest, but how do i add the £20 per month + 16.6% contractual interest as it adds the contractual but i cannot edit the fields to add £20 pm?

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  • 8 months later...

update ...

 

i claimed charges of £726 plus interest from a balance of £1400.

 

after July, HSBC sent a letter stating the account was on hold due to the test case.

 

later they offered £600 in full and final settlement and i had 2 months to accept or wait until the test case was over, which i declined as i was asking double that. They said the payment would come off the balance.

 

i have now received a letter from HSBC saying they sold the account to Phoenix Recoveries (UK) Ltd S.a.r.l and they Phoenix have appointed Fredrickson as their servicing agents.

 

fine, i say, that means Phoenix have now bought the debt for an account which HSBC is meant to put on hold as per test case and have said as much.

 

at the same time, i receive a letter from Fredrickson stating they have acquired this account from Phoenix acting on behalf of its compartment Tessera. They also state they are administering the account and that they are now the Data Controller as defined by the DPA and that they have the same rights to pass the data to CRAs as HSBC did.

 

so i rang them to tell them the good news that the account was already in dispute. Fredrickson told me that they are the owners of the debt and they have sent me a notice of assignment as required by law.

 

so, the question is who is really the owner of this debt?

 

Phoenix who HSBC say they sold the account to, Tessera who Fredrickson say Phoenix was acting on behalf of, or Fredrickson who say they are the data controller and owner of the account but again they and HSBC say are acting as an agent only?

 

I have had no letters from Phoenix or Tessera, who i suppose would have to let me know before selling? it on to Fredrickson?

 

Both the HSBC and Fredrickson letters are dated the same day.

 

advice please as HSBC have done this on another account as well, which was also on hold due to the test case.

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The letter they sent in July re the account being on hold, did they state the account was on hold? If so then they should not have done anything with the debt until after the test case!

Do you still have the letter? If so can you post the details on here?

 

 

.

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Fredrickson are agents for Phoenix who bought the debt from HSBC.

CAN YOU CLARIFY SOME POINTS PLEASE?

 

1. The balance of £1400 you mention, what is this?

 

2. Have you actually had any payments from HSBC?

 

3. As freaky said was it the account or the claim for charges that was put on hold?

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The letter they sent in July re the account being on hold, did they state the account was on hold? If so then they should not have done anything with the debt until after the test case!

Do you still have the letter? If so can you post the details on here?

 

I got the standard letter re charges complaint on hold due to test case.

 

When we claim charges back from an account, doesn't that automatically put the account into dispute? Can they then sell the account with a full balance as it will not be clear until after the test case what the actual balance should be?

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Fredrickson are agents for Phoenix who bought the debt from HSBC.

CAN YOU CLARIFY SOME POINTS PLEASE?

 

1. The balance of £1400 you mention, what is this?

 

2. Have you actually had any payments from HSBC?

 

3. As freaky said was it the account or the claim for charges that was put on hold?

 

1. The balance of £1400 is what i owed HSBC on this account. I have a CCJ which Moorcroft got me when they were collecting. When i did a CCA request they sent the account back to HSBC and i made a claim for a charges refund. They did not ask for any payment towards the account or offer any payment plan.

 

2. HSBC offered me £600 when i asked for nearly £1,200. They said accept within 2 months or wait until the test case is over.

 

3. I suppose the claim for charges was put on hold but that would dispute the amount of debt which includes charges and is the amount they have now sold on.

 

Also, what happens to the CCJ which HSBC have on me, because now that they have sold the debt there is no longer a balance with them so the CCJ should be removed as they are not the owner anymore?

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You have received a letter telling you the complaint (claim) is on hold and not the account! It does not automatically freeze the account when you make a claim. The account is in dispute is as far as you are disputing the lawfulness of the charges but leagally they do not have to freeze the account.

If you have defaulted on the account then they may well be within their rights to pass/sell the debt on.

I will have a look around and see if I can get some clarification.

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I will have a look around and see if I can get some clarification.

 

OK.

 

What do you think of the CCJ and what i should do as it would be satisfied when the account is sold and HSBC cannot carry on having it in their name because they don't own the account anymore. I don't think a CCJ passes to a new owner like a default because the court made a judgment for HSBC not the new owner. Should i apply to the court for a removal or ask HSBC to remove it/send me something?

 

As for ownership, should i not have got a hello letter from Phoenix/Tessera and Fredrickson seem to be confused as to whether they own the account or only manage it, in which case they are not the data controller and cannot default me.

 

HSBC state they sold it to Phoenix who have appointed Fredrickson yet Fredrickson say they bought the debt from Phoenix but also manage it on behalf of. Both letters dated the same day.

 

I received another letter dated 1 day after that HSBC would like to discuss the account in more detail with me re my claim for charges after i stated 'hardship' and to complete the enclosed form. So they've sold the account but also want to look at my claim.

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I will get back to you on the ccj issue. The fact that hsbc want to discuss the claim in not unusual even if they have passed your debt on as your claim is against them.

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I will get back to you on the ccj issue. The fact that hsbc want to discuss the claim in not unusual even if they have passed your debt on as your claim is against them.

 

OK, thanks.

 

Also the fact that HSBC sold the account to Phoenix/Tessera who seem to have sold/assigned it to Fredrickson on the same day? At least the new owner is meant to tell me they have bought the debt etc otherwise what right did Phoenix have to sell/assign it to Fredrickson, who seem to think they also own it as well?

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So if HSBC have said the claim for charges are put on hold and as im aware the £1400 owed is made mostly up of charges then any legal action brought against you should also be put on hold.

 

I agree entirely.

 

When was the CCJ?

 

The CCJ was a few years ago, but does it matter as HSBC don't own the account anymore so it should be removed.

 

I was going to apply for a set aside anyway (soon) as HSBC's POC stated 'amount due on an account regulated under CCA 1974' then when i asked for a credit agreement they said there is none as it is was current account.

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Whoever claims to own the ALLEGED debt must provide proof of as in a Deed of Assignment.

 

Yes, i spoke to Fredrickson today and the guy was rude and wouldn't let me talk. In the same sentence said they had bought the debt and also said they are managing the debt. When i pushed which one it is he got stroppy.

 

Fredrickson claim to own it and also manage it on behalf of Phoenix, who have never sent me anything so i don't know how they had/have any right to pass on to Fredrickson.

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As far as the ccj is concerned, if you clear the debt concerned within 30 days of the judgment you can have it removed, otherwise it stays for 6 years.

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As far as the ccj is concerned, if you clear the debt concerned within 30 days of the judgment you can have it removed, otherwise it stays for 6 years.

 

Hmmm, OK.

 

So if one clears the debt within the 6 years it will still stay on as an outstanding debt?

 

As HSBC don't own the account anymore, how can they have a CCJ showing i owe them £1400? Shouldn't it at least show as settled, like defaults are?

 

Confused ....

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The CCJ stays regardless who owns the debt at the mo.

You have a case that the amount is made up entirely or mostly of charges, has this CCJ caused you to take any loans at higher rates.

 

 

 

If you paid the amount CCJ can be marked up as settled.

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Can I have my judgment removed from the Register?

You can only have your judgment removed from the Register if:

• you paid the full amount due within one month of the date of the judgment; or

• the judgment is set aside by the court. (This means that the judge has withdrawn the judgment, either because it is wrong or so that you can defend the claim.)

If you paid the amount due more than a month after the date the judgment was given, the entry will remain on the Register for six full years. But you can have it marked ‘satisfied’. This will show anyone searching the

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Here is a link to the full document on CCJ's.

 

More about how CCJs are kept on record (PDF, 174K) (opens new window)

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If you paid the amount due more than a month after the date the judgment was given, the entry will remain on the Register for six full years. But you can have it marked ‘satisfied’.

 

Exactly, so i have to get HSBC to show it as satisfied as i no longer owe them any debt, or claim compensation under DPA for incorrect data processing.

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Did you pay the ammount ordered in the CCJ then?

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Did you pay the ammount ordered in the CCJ then?

 

I didn't pay it. Either the CCJ is right and i owe HSBC an amount for that account, or they no longer own the account so the CCJ has been satisfied by the DCA who bought it.

 

They cannot sell the debt and have an active CCJ in their own name.

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