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Can HSBC Do this while in an IVA?
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jsmith9156
Posts: 267 Forumite
Hiya All
My IVA was accepted last week, But a letter has arrived today from HSBC about the credit card I had with them.
It states that "As your IVA has been accepted and brought into force, Your Agreemeent with HSBC has been terminated and your outstanding balance will be recorded on your credit file with the credit reference agencies below as a DEFAULT".
Can they do this now that the IVA is already in place? I thought getting scary letters in the post was all over now
James
My IVA was accepted last week, But a letter has arrived today from HSBC about the credit card I had with them.
It states that "As your IVA has been accepted and brought into force, Your Agreemeent with HSBC has been terminated and your outstanding balance will be recorded on your credit file with the credit reference agencies below as a DEFAULT".
Can they do this now that the IVA is already in place? I thought getting scary letters in the post was all over now
James
IVA Payments Coutdown - IVA completed!! Now the cleanup begins!
Rebuild Credit Time: Vanquis CC with £1000 Limit (£0 Balance)
Sim Only Contract with T Mobile
All adding little green ticks to my credit file
0
Comments
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which aspect is causing you concern?
the letter seems to state the obvious...that you have defaulted on the account, and they have marked your credit record accordingly and that you can no longer use the card.0 -
Hiya,
Well I was under the impression that Defaults stay on your Credit File forever more if they aint paid.
IVA Payments Coutdown - IVA completed!! Now the cleanup begins!
Rebuild Credit Time: Vanquis CC with £1000 Limit (£0 Balance)
Sim Only Contract with T Mobile
All adding little green ticks to my credit file0 -
defaults stay on your file for six years from the date of the default.0
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Ah ok, Thanks for the info
IVA Payments Coutdown - IVA completed!! Now the cleanup begins!
Rebuild Credit Time: Vanquis CC with £1000 Limit (£0 Balance)
Sim Only Contract with T Mobile
All adding little green ticks to my credit file0 -
Everyone will default your account as you have defaulted by entering into an alternative repayment agreement.
It's no problem, you'll be debt free in 5 years and a clean credit file in 6!Debt as at 12th July 2006 - £61,345 :eek: :eek: :eek:
Debt free 21st Oct 2011.
All thanks to :money:0
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