Hsbc Old Account In Arrers

pepper04

Hi everyone

This is my first time here so please bear with me.My husband and i have a problem with a company called Lowell financial Ltd.
In 2004 my husband went into arrears with his hsbc currnet account and he didnt pay his 500 overdraft back. He moved around a lot and he never paid it back. the problem is we started getting demands from Lowell and we rang and have been paying them a small amount every month. now they are pushing us to pay more and we cannot afford to up our payments as i was made redundant and am a stay at home mom now. my husband`s salary is average hence we cannot afford to pay more. saying that i have been reading a lot of forums with information about lowell and feel a bit weary about continuing the payments. we`re thinking about contacting hsbc directly but we dont know what address or what department to contact. my husband cant remember the bank details. is there anyone there with any advice on what to do.

Thanks

Pepper

chambta

Unfortunately HSBC will not be interested any longer as they will have sold the debt to the company you mention. They will be legally entitled to pursue the debt directly with you.

Sooler

The CAB can assist, drawing up an income and expenditure budget, allowing for all necessary living expenses and showing what you can afford to repay.

At the end of the day if you haven't got the money they can't have it, they'll have to take what you can afford, but you need to show you're making attempts to settle the debt.

witches_cauldron

Sooler wrote: »

The CAB can assist, drawing up an income and expenditure budget, allowing for all necessary living expenses and showing what you can afford to repay.

At the end of the day if you haven't got the money they can't have it, they'll have to take what you can afford, but you need to show you're making attempts to settle the debt.

Since the debt is relatively small won't they accept fairly modest repayments that you can afford?