HSBC Reject Payplan Proposal

dollydo

Hi,

HSBC has just called to let me know that they are not willing to accept Payplans proposal:mad: They will only accept double what I can afford. Is this normal? Got loads of threats about court action etc. Wouldn't mind but up until a little while ago I was staff !! What do I do next? I have emailed payplan, no response as yet. If it gets passed to a DCA will I have chance that they will accept it?

Thanks for the help.

pepe2008

dollydo wrote: »

Hi,

HSBC has just called to let me know that they are not willing to accept Payplans proposal:mad: They will only accept double what I can afford. Is this normal? Got loads of threats about court action etc. Wouldn't mind but up until a little while ago I was staff !! What do I do next? I have emailed payplan, no response as yet. If it gets passed to a DCA will I have chance that they will accept it?

Thanks for the help.

You have to stick with the 'I am doing all I can to repay my debts using a repayment Plan which is fair to all my Creditors' line. Which is precisely what Payplan should be pushing.....they should already have been notified by HSBC.
Dont get drawn in to promising anything you know you cant meet. Stick to the Plan...........it'll probably be OK in the end. Court threats are standard fare and they now that a Court will PROBABLY make an Order for precisely what you are offering via the Plan anyway. Calm.

10past6

Whether they accept your offer or not, is neither here or there to be honest.

Creditor's very seldom accept reduced payments, as stated, stick to what payplan have offered.

If it ends up in any litigation case, my advice, DO NOT INFORM PAYPLAN, post here for advice FIRST.

lxpeanut

I wouldn't worry about it too much it seams to be some creditors position to reject the offer first time. Stick to paying what you can afford they will accept it eventualy.

Jolly2009

HSBC refused mine at first and then tried to get me to sign some sort of loan thingy with the monthly payments as what I offered on my DMP - yeah right!!!

Eventually they defaulted me (normal) and passed it to their internal collections who were polite, friendly, accepted my offer and not heard a thing from them since apart from when they passed it to another collections recently (about a year after) who in turn were friendly, helpful and willing to accpet the agreed payment for a year and will review.

Hope this helpsxx

suze72

We have just started a DMP through CCCS. The majority of our debt is with HSBC, this being 2 credit cards, 3 ODs and a loan :eek: . They have so far rejected the DMP offers on all of these accounts, and from other peoples accounts of HSBC this is quite normal for them.
As pepe2008 says, just stick to your guns as we have - they cant have what you havent got!
We also got the threatening letters and phone calls but this is par for the course and should die down after a while.
Try and keep positive and remember there is loads of support and advice on this forum - we're all in it together.
Good luck, Suze.

stapeley

Can we ask what is it ? Credit card , loan ?

dollydo

Hi, Thanks for all your replies. It's for a credit card, approx £7,000 ( what was I thinking!!!).

fatbelly

Normal practice for banks. Drives me nuts. Lloyds is worst. Can take six months.

They know that they will accept the offer eventually so why pass it through several different departments internally before doing so?

Anyone know?

tomterm8

Send them a formal complaint for refusing to deal with your agent ( payplan). under the terms of the OFT debt guidelines, they should be dealing with payplan, rather than phoning you up.

If they do not accept your complaint, make it a formal complaint with the F.O.S. This will cost them around £250, and it is highly likely the Financial Ombudsman will rule in your favour.

piptom&AndyPandy

Jolly2009 wrote: »

HSBC refused mine at first and then tried to get me to sign some sort of loan thingy with the monthly payments as what I offered on my DMP - yeah right!!!

Eventually they defaulted me (normal) and passed it to their internal collections who were polite, friendly, accepted my offer and not heard a thing from them since apart from when they passed it to another collections recently (about a year after) who in turn were friendly, helpful and willing to accpet the agreed payment for a year and will review.

Hope this helpsxx

Hi Just wondered how long you been on dmp? HSBC sold two of debts this yr been on it just over a yr

Thanks
Pip