hsbc passed on my debt?

horseygirl_3

ive just found out hsbc passed on my debt to another company for reasons i wont go into but the short of it is i missed payments due to my situation.

i spoke to the company and said that i could not afford the full payment they demanded as it £9000.

the man on the phone just demanded i pay in full and they would not accept monthly installments.

i asked if they would take a partial payment say 50% to settle it in full at which point he said no. i was going to ask my parents to lend me £5000.

i also pointed out that my next step was payplan at which point he said that i was bluffing and would not have spoken to him if i intended to use them.

im in no state to pay it my self for at least a year untill property prices increase and my partner gets well again .

anyone have any advice before i phone him again this week.

stapeley

First thing you get no where talking to them on the phone . We advise to keep everything in writing. If they call you do not respond , put phone down . Is it a unsecured debt ? And when was it taken out . We will need afew more details .

mademistakes

Sounds to me like they're just trying to intimidate you into paying.
In the past when I had my cc debt passed onto a collection agency they have always started off demanding full payment but I just refused, then they'd offer for me to pay half, and basically I kept refusing everything they requested until they eventually accepted the £20 per month I offered. I guess the £20 is better than nothing!

Don't be bullied into offering a payment you cannot aford. Stand your ground!
Hope it works out for you!
xx
:hello:

Rabbit-in-headlights

Hello horseygirl,

The first thing is, don't panic. It sounds to me that the man you spoke to was not happy to hear you are considering going to Payplan. That's a good start!

They can't make you pay money you don't have - even if you went to court the judge would only order a repayment schedule which you can afford - so don't let this bully get to you!

You are on the right track - talk to Payplan, or any of the other debt counselling charities (CAB,CCCS, National Debtline,CAP - details in the resource bar at the top of this page). They will review your situation and make realistic suggestions. If you haven't done an SOA yet, that is also something which would help the experts on this board to advise you, too.

Lastly, I would suggest you don't phone this man back. If he wants to communicate with you make him put it all in writing. That way, you can keep a clear head and avoid the stress this type of bully can cause. And of course, you will then have a written record of all communications, too. You have enough on your plate without him adding to your worries!

Good luck, and keep posting, there are lots of people on here who will have good advice and support to offer you.:o


Rabbit

horseygirl_3

thankyou for the advice.

i did make one payment to him of £300 which is silly i know but i did tell him i had no other money to pay the rest.

im hoping not to have to contact payplan as i do still have a little hope of sorting this out myself with the help of my company who will give me a interest free loan to cover all my debts.

i agree that if i tell him i have no money what can they do, if you have no money all that can happen is you end up paying monthly.

my parents will pay half also but should i tell him or wait for the letters to come. and hope for a full settlement which is my plan. this would save me £200 a month and mean i can afford all my outgoings untill my wife works again.

they are so intimidating on the phone

Rabbit-in-headlights

Bump - any experts around who can advise horseygirl????