Sar Letter

Hopkino

As someone who regularly visits the website for sound advice and guidance, I thought I would come back an post in the hope that some degree of resolution, or at the very least, peace of mind may be found.

In 2008 I had a £1200 student overdraft and consequently took out a loan via HSBC for £4000.00 to purchase a car. Repayments became difficult on the loan after the bank issued an immediate repayment of the overdraft once learning that I was no longer in education and working full time. I remained in regular dialogue with HSBC throughout this difficult period in an attempt to renogotiate my repayments to them.

HSBC offered to "Help" me by amalgamating the two debts into a "Managed Loan Account", where flexible payments might be agreed and we settled on what was then a barely affordable repayment of £200.00 per month. (PPI not known). Unbeknownst to me, HSBC's managed loan account is apparently for people who are showing signs of going wrong with their money, the APR was higher than the original loan and paperwork was in the post. As a plan of payment was agreed on the phone it was agreed that no payments would be required until the managed loan arranged.

Unfortunately, I am assuming due to delays in the postal system, the paperwok took quite some time to arrived, and by the time it eventually did I signed and returned to them.
During this delay in paperwork it would appear that a default was issued against the account......

Now, please forgive my lack of exacting and specific date details available for your perusal here. I am not seeking negative comments of what I should have done at the time, or how irresponsible my strategy was.

I am a little wiser now and looking to address my current credit file as plans of marriage and maybe children will hopefully be on the horizon. My partner has an excellent financial/credit history and I do not want to affect hers, and I am seeking to recover mine.

After the account was defaulted, as is standard practice with HSBC, it was passed to metropolitan collection services and I have been in a peppercorn repayment rate with them since 2009. My current outstanding balance is £3100

When the whole PPI issue started to gain momentum in the public domain, I instinctively contacted HSBC stating I believe I may have been mis-sold PPI through previous loan, and could they please inspect my records and advise me of my position. A seemingly very competent staff member offered to do so on the phone and appeared to know exactly what she was talking about, summising that no I have not been mis-sold PPI, but also that they would not send out the old agreement/s.

And so..... I arrive at today, armed with my SAR letter, and having contacted Metropolitan to obtain correct postal address I am about to post off together with a £10.00 cheque recorded delivery. In my conversation with them today they asked as to the reasons why I was making such a SAR. I explained that I was contemplating making an offer of settlment with regards to the outstanding money (of important note, I am not currently in a position to make an offer of settlement, however, I may be in a position in the next year after moving in with my partner and promotion through work). Metropolitan were keen to engage me in a conversation as to how I might be able to make an offer of settlement, something I refused to get into, stating that I wanted to ensure that my paperwork was in correct form and order. They advised that an agreed settlement would only be marked on my credit file as a negotiated settlement, and therefore not fully satisfied.


The long and short of this folks is that for the past 4 years I have been as responsible and reasonable with my finances as possible. I have accrued no further 'bad debts' and maintained repayments with metropolitan. I am now far more mature when it comes to money, and desperately trying find ways in which I might be free from the constant impact of a failure to detail 4 years ago. I have recently concluded a plan with CashPlus, as recommended on this site, to improve my credit file. I am concerned that a negotiated settlement for a defaulted (in error?) account will continue to negatively affect my credit ability, even after the 6 yr mark and I wondered what advice might be available to me?

Thanks in Advance :T

AndyLGR

I've got a couple of old loans that were paid off around 7 years ago. I still have the completed agreements with front loaded ppi. Do I still need to send off a SAR request to see what else is held or can I just use my original agreement copies?

[Deleted User]

AndyLGR wrote: »

I Do I still need to send off a SAR request to see what else is held or can I just use my original agreement copies?

You don't need to send a SAR at all unless you think that "what else is held" is likely to have been mis-sold to you. You certainly don't need a SAR for accounts you already have the details of .

snortbrick

Moneyineptitude wrote: »

You don't need to send a SAR at all unless you think that "what else is held" is likely to have been mis-sold to you. You certainly don't need a SAR for accounts you already have the details of .

Right, so, if i say i was miss-old and they don't agree at what stage do i say, I want the transcripts of the phone calls as proof?

Paul58

Hi. Spent days trawling the net and getting headache. Googled the question 'Bank account details SAR'. I found lots of advice for closed accounts, which mine isn't. I've been with the same bank for 36 years. Google said the bank must keep all my active account details, 'forever'. From searching on here I get the impression this isn't the case? I've had almost constant loans from them since opening my account. So, can I ask for ALL information they hold on me? If not, why not? A friend asked his bank of 42 years for information about a £20,000 loan he paid back about 10 years ago. They checked, found the details, but told him he had to provide the loan details before they would give him the details they had. So, banks obviously have the details on file and can go back more than 6 years. So... why don't they?
Hope I've managed to post this right.
Thanks.
Peter

-taff

You still need the SAR even if you stil bank with them because each loan is classed as a different entity, and after so many years, will be archived.
Even then, they may not have all of your history with them because the recommendation from the Data Protection Act is as long as necessary, or from the FSA viewpoint, 6 years.

snortbrick

I don't bank with FD anymore and still unsure what was said, so i'm going to SAR them and go from there.

Same for Capital one and Argos. I had card protection with Barclaycard and that's another ball game.

The wife's got Midland bank and alliance & Leicester from the late 90's. The PPI for the Midland loan was shizzammed on her by the local branch of financial wizards.

[Deleted User]

snortbrick wrote: »

Right, so, if i say i was miss-old and they don't agree at what stage do i say, I want the transcripts of the phone calls as proof?

They don't have to provide proof, as the complainant the burden of proof is upon you not the Bank. What makes you think call transcripts (if they even exist) will "prove" anything?

If you expect a SAR to provide details of individual calls, you are sadly mistaken. The Sar will provide account numbers and details details of amounts owed/repaid. Most of it will be no use at all, especially if you already have this information.

snortbrick

The truth is out there. I can handle the truth!

MAYK7

Hi,

I have a quick question.

I have just done an SAR and the bank have said they can only send the info to a branch and I have to go and collect it.

- It's Lloyds. I no longer bank with them and want it posted to my house. Are they able to make this demand? (I have paid the £10 admin. fee)