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Forced closed accounts...worth trying?


thesimbo
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Hi

 

I had a current account with HSBC from 1995 till 2005, during the final period my business went bankrupt and HSBC initially placed my overdraft and graduate loans into a managed loan, finally when I was still not paying due to personal problems at the time they closed the accounts and sent to the debt collectors.

 

I am now in an agreed arrangement with them to pay £100 a month.

 

I have the statements for 2004/2005 and have accounted for over a £1000 in charges for this period and am aware there may well be more for 2000-2003.

 

Couple of questions

 

1. Is it worth trying a claim against them in this situation?

If so do I follow your standard guidelines?

 

2. Obviously with an outstanding debt at the debt collectors I am concerned they may in retaliation force a petition for immediate payment or personal bankruptcy which would be frustrating as I have personally renegotiated and partially paid over 30k over the last 2 years in an attempt to ensure a sensible credit file in a short period. Would be interested in your thoughts?

 

3. Does Cag have an arm to carry out cases on your behalf? Understand there are chancers out there, would prefer to use any services you have available

 

Thanks

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IMHO:

 

1. Is it worth trying a claim against them in this situation?

Yes.

 

If so do I follow your standard guidelines?

Yes.

 

2. ... I am concerned they may in retaliation force a petition for immediate payment or personal bankruptcy ...

 

I believe that if you keep up your payments under the agreement you have with them, and advise them them that the account is 'in dispute' then they would not (lawfully) be in a position to do anything.

 

Have you spoken to the CAB, or taken up your free half hour with a solicitor?

 

I am sure one of the more 'senior' (i.e. more knowledgeable) members of this board will also add comment, this is JMHO.

 

They will probably credit your account, offsetting what is outstanding, but repayment moves a bit closer. One factor to consider is if they have sold the debt, or are they just using the DCA for collection.

 

Good luck.

"Weasel (n): any person or group that operates in that vast grey area between good ethical behaviour and the sort of activities that might send you to jail".

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