default notice.................................but

kickingkay

i dont know if this is standard as after 6 months of reduce payments HSBC have finally issued me with a default notice now does this mean they can no longer charge interest or they are going to take the house or what!
im with the CCCS but its bank holiday and as a point of notice HSBC only ever send us out threatning letters on a friday or bank holiday period is this to upset our weekend do you think coz we are getting used to it now, anyway sorry go off the point, .The letter also states that if we pay the outstanding minimum payment they will cancel the default notice is that possible it just sounds abit odd either they have issued a defualt or they havent sorry not to sure liek i saw its the first of many to come im sure
thanks any ideas would be great
klare x

Broken_hearted

Just another way of trying to get more out of you.

mm2000

If you are on a reduced payment programme and have not defaulted on that they cannot issue a default notice. How long was the reduced payment programme to run before a review. 6 months or 12. If I were you i'd just send them a new Financial statement and ask for a continuation of the programme. If you have been paying interest all the while ask for that to stop as well. If your debt is below £5,000 you would be unlikely to be charged interest in the case of a CCJ.
Is the money owned secured on your property if not they cannot touch your home. The only way they can get hold of your home is if you default on a CCJ when the money owed is unsecured.

Emmzi

KK,

they're just protecting themselves in case you don't keep up payments through CCCS, I think. They need to have issued a default notice in order to take further action at a later date, if you don't keep to your side of the bargain. Fairly standard procedure, don't panic.

Have they accepted reduced payments through CCCS in writing?

Nothing will happen with this over the weekend so relax.

xx

kickingkay

Emmzi wrote:

KK,

they're just protecting themselves in case you don't keep up payments through CCCS, I think. They need to have issued a default notice in order to take further action at a later date, if you don't keep to your side of the bargain. Fairly standard procedure, don't panic.

Have they accepted reduced payments through CCCS in writing?

Nothing will happen with this over the weekend so relax.

xx

no HSBC wont except the payments they and virgin are the hardest to get to agree although i here very little from (virgin)mbna just the odd threatening letter
we have been paying through CCCS since january and 1st july their payments will double due to increase in WFTC . CCCS have written again to hsbc asking all interest be stopped but tehy charged me last months £157. in % alone the payments being made to them are £15 sue to go up to £30 so we are doing all we said we would do the guy even argued with me saying they wouldnt get back the money awed to them anyway which made me really cross i am doing my best to repay every single penny (which keeps going up with %) its going to take about 15 yrs i know but im still paying
anyway it will not spoil my bank hols this time

Broken_hearted

Had this problem with Halifax so I asked for it to go to debt collection, problem solved interest stopped and anything payed brings the balence down. credit rating is shot anyway so it hasn't harmed us.

Emmzi

Kk,

I can hear the tension as you type!

Talk to CCCS on Tuesday; have a good think about Broken Hearted's suggestion above; there is nothing you can do for the next three days, so try and forget it until Tuesday.

If it does go to court, the judge can't award them more than you can afford to pay, so the result is likely to be that they just get what you are offering now!! but it's cost them loads in legal fees. They are also obliged to try and avoid going to court, so it is unlikely to happen.

mm2000

Emmzi wrote:

Kk,

I can hear the tension as you type!

Talk to CCCS on Tuesday; have a good think about Broken Hearted's suggestion above; there is nothing you can do for the next three days, so try and forget it until Tuesday.

If it does go to court, the judge can't award them more than you can afford to pay, so the result is likely to be that they just get what you are offering now!! but it's cost them loads in legal fees. They are also obliged to try and avoid going to court, so it is unlikely to happen.

In my experience the Judge can award them more than you can pay, but this can be appealed against.
I contacted CCCS when I first got to the point where I could not keep up my payments, sadly they recommended that I take the Bankruptcy option due to the level of debt I was in and the amount I had for repayment. I had already contacted my creditors and although some still think I'm working with CCCS although I don't beleive CCCS ever contacted any with my knowledge. I have done all the writing myself and 5 1/2 yrs down the line I don't think I've done too bad. Only two CCJ's out of more than ten debts and £29,000 paid off so far even if some of the debts were reduced by the creditors as help. At current pay levels I reckon I have 10 yrs left to go before debt free, but hopefully things will improve and I can reduce this.
Don't be put off by unhelpful creditors. point out that if they do not stop interest charges you will withdraw all future payments, threaten fileing for bankruptcy, point out to them they are in breach of the bankers code of practice by not helping you as they are to treat you with sympathy etc. and they are obliged to do everything within their power to prevent the matter from going to court. You have done your part by offering payment they are the ones failing to work on the problem.

kickingkay

From adice given i have written a letter again lol what do you think??

I am writing in reference to the previous letters you keep sending me demanding more money, you are aware of our financial circumstances, but yet you feel obliged to harass us either by phone or mail. Please to clarify things we are on a DMP with CCCS we have not missed any payments to you and have paid an amount based on original repayment scheme (this is devised by CCCS).
We have written as have CCCS requesting all interest to be stopped, however interest is still being added on in some cases in over 400% more than the payment being made. I would just like to point out you are in breach of the bankers code of practice by not helping us or the situation. You are obliged to do everything within your power to prevent the matter from going to court. We have done our part by offering payment that we can afford. We are in a position to increase the payments from July 1st, but yet you still continue to send threatening harassing letters. Should we go to court and we are forced into bankruptcy the chances of you getting the outstanding debt are unlikely this would result in a costly outcome, and result in bad publicity for HSBC. We could file for bankruptcy and walk away from this horrible situation, but we know the debt is ours to repay therefore we will repay it how ever long it may take.
Like I have expressed before we are paying the amount we can afford to pay, we have reached a point where we are able to increase payment so we ask you again please consider what you can do to ease this difficult situation, we wish to repay our full debt and only ask that you see we are doing the best we can,

domestic_goddess

Bless you. I bet they send loads of these letters out just before bank holiday weekends just to make people stew over the long weekend. I don't have any advice for you but I just wanted to say not to worry too much (I know... easier said than done) as nothing can be done till Tuesday.

mm2000

Seems good to me,I'd also ask for the details of their complaints department so that you can make a formal complaint about the bad way in which you are being treated. If the matter is not dealt with to your satisfaction you will be making a complaint through the Finanacial Ombudsman service. Point out that you will also be asking for the excessive interest charges to be recredited. Tell them you have sought advice and their resistance to help and unnecessary actions are only adding to the amount of debt which you will be contesting in court. At such times you will be making the court fully aware that you have made every attempt possible to you to repay your debt and it is only their greed and obstinence of the creditor against the Bankers Code of Practice which they should be following that has brought about this unfortunate situation.

Turn the tables on them and pile on the pressure. I'm not saying you will get your interst charges recredited but you never know. I made a complaint against one of my creditors for the way I was trated and spoken too by one of their personell over the telephone and although I couldn't convince them to accept my payments and a CCJ was served. This ended up going to their internal complaints sexecutive and I had £2,500 knocked off the debt in compensation. It is only from reading some of the threads on here that I realise how wrongly I'd been treated and if I'd reported them to the Trading Standards and the like, perhaps I'd have got more. I'd have just been happy with having my payments accepted in the first place though.