Hsbc Wont Accept Offer - What Now?

What ever you do DON'T accept a managed loan from them (I presume this is what they are offering you when they say they want you to consolidate)

Basically tell them that is all you can afford, keep repeating you are on a DMP with Payplan and put the phone down. They can say that they won't accept your offer but Payplan will send it anyway and eventually they will get the message they aren't getting any more and probably pass your account onto debt collection agency. This is a GOOD thing as the interest will stop and they will most likely accept your reduced payments without any hassle.

I know it's horrible getting the letters and phonecalls but keep strong, it will get better once your DMP gets into full swing.

This is standard practice from HSBC.

When i send offers of repayments for my clients, they always write back, refusing the offer and then they write again offering a "managed loan".

They can not force you to take the loan, so what they will do is hang on to the account, adding extra charges to the accounts (illegally) and then eventually they will move the account, usually to the recovery department within HSBC who will then consider the offer that was made in the first place.

If they call you advise them that thy have to make contact with PayPlan as they are your appointed representative for dealing with your debts and then do not talk to them any further.