HfO - Warning

emsiep1982

Well,

Having taken all the advice I have read on here and read regularly I started clearing my debts. I knew that I had several outstanding debts that I had defaulted on and would not become statute barred for another year or so. I paid off 2 debts and at the same time vanquis gave me a credit limit increase. Excellent, I thought, starting to really rebuild my credit file.

However, a debt that I had from years ago, that I was paying a token £25 off a month (and had been doing for 4 years with no issue from HfO and all interest etc frozen) came to haunt me.

I had paid off debts which were of a smaller amount. I then worked out that I would satisfy another £103 debt before upping the payment to HFO.

I was rang (some might say harrassed as they ring and ring and ring throughout the day - I work and could not answer!)
I had letters etc saying they wanted full payment.

I contacted them and was told that they had access to my credit account and can see that I had a credit limit increase on Vanquis and that I had recently paid of some smaller debts. From this they said that it was obvious that there debt is not a priority and that I had 7 days to pay in full or they would begin legal proceedings.

I was petrified, trying to do the right thing and pay debts off and this happens!

Several more phonecalls from them in the 7 days, asking if I had the money, asking if there was any family or friends I could borrow it off etc.

I paid the full amount on the Vanquis credit card that I had been so carefully using to rebuild my credit, the debt is now sat on the card with a massive APR and I am furious.

Watch out for HFO, they are underhand and they bully. I thought that clearing debts and then making it easier to pay them more would be a good thing!

Good news is, it now shows as setteled on my credit report as HfO also use Hillsedien securities, and a financial advisor last year told me that banks see that name and tend to stay clear of you, becasue of it.

Bad news, a massive APR on the Vanquis. Will now cost me more and take longer to pay.

Grrrrrr - shame on HFO

fermi

Putting pressure on you to pay off a debt by taking out further borrowing elsewhere is against OFT guidelines.

See: OFT Debt Collection & letter Guidance - READ IF YOU ARE BEING HASSLED

Knowing HFO to be the scummy outfit of bullies that they are, it's a fair bet they they have broken other guidelines in that link as well.

The Office Of Fair Trading have issued HFO with a notice that the are minded to refuse renewal of HFO credit license due to their appalling behaviour.

That would put these horrible people out of business if the OFT went through with it.

So if HFO have behaved badly, it's very important to report that to the OFT ASAP.

emsiep1982

Thanks for the information. It didnt seem right at the time, and as I have been and still am doing, trying to clear debts and clean up my credit report it really frightenened me.

I will report it to the OFT, thankyou. You are right, they need to rethink their approach, it wasnt even as if I hadnt been paying them, I had a standing order set up for several years making payments!

Mowgli87

For future reference - Just say 'accept monthly payments or take me to court'
9/10 they wont take you to court, its too much hassle.

timbstoke

Absolutely….don’t ever be scared of telling them to take it to court. They almost certainly won’t, and with good reason – the court is not some evil enforcer which is going to force you to eat dried bread in order to pay them – they look at all sides and reach a fair conclusion.

In your case, they wouldn’t have gone to court. If they had, the court would have heard what you told us here, and more than likely reprimanded them for bringing such a ridiculous case to court. Worst case, they would have made an order that you stick to your promise to increase your payments after you’ve paid the other debt.

The assumption that a creditor has the right to treat you in this way needs to be challenged - you're still a customer, you're still giving them money, and you're still entitled to respect. When I've had creditors phone with an attitude, I give them one warning only - change your tone or I will terminate the call. 90% of the time they come back with a sarcastic remark like "If you paid your debts we wouldn't have to call you" and they then get hung up on.

You don't have to be spoken to like dirt just because you owe money. If they want to negotiate, they can do so in a civil manner or not at all.

Here endeth my mini-rant.

Mowgli87

timbstoke wrote: »

90% of the time they come back with a sarcastic remark like "If you paid your debts we wouldn't have to call you" and they then get hung up on.
.

I bloody hate it when they do that! condesending so and so's!!

dlongb304

would somebody kindly advise me.. i had 2 credit cards with barclaycard a few years ago the hit financial problems and was unable to repay sufficiently the debt totalled approx £10000. eventually HFO took over these debts. the last contact i had with them was may 2007 when i had provisionally agreed to pay £20 a month. i remarried and moved house etc and somehow the debt got forgotten. I did not receive any contact from hfo until april this year when i received the letters that everyone else seems to receive notice of assignment litigation etc. I have so far nopt replied to any of these letters. they are stating that the debt is now £19000 !!!! I received the schedule of litigation letter on may 12th detailing timetable to going to court etc. Could you please advise me what my next course of action is as this is quite a worry. I know that debt was there but i guess becasue of receiving no contact,like a lot of people,i just left it. many thanks. p.s i added to this thread because i cant work out how to post a new one on the site!!

DVardysShadow

dlongb304 wrote: »

would somebody kindly advise me.. i had 2 credit cards with barclaycard a few years ago the hit financial problems and was unable to repay sufficiently the debt totalled approx £10000. eventually HFO took over these debts. the last contact i had with them was may 2007 when i had provisionally agreed to pay £20 a month. i remarried and moved house etc and somehow the debt got forgotten. I did not receive any contact from hfo until april this year when i received the letters that everyone else seems to receive notice of assignment litigation etc. I have so far nopt replied to any of these letters. they are stating that the debt is now £19000 !!!! I received the schedule of litigation letter on may 12th detailing timetable to going to court etc. Could you please advise me what my next course of action is as this is quite a worry. I know that debt was there but i guess becasue of receiving no contact,like a lot of people,i just left it. many thanks. p.s i added to this thread because i cant work out how to post a new one on the site!!

New thread started https://forums.moneysavingexpert.com/discussion/3271536

FTW

Mowgli87 wrote: »

I bloody hate it when they do that! condesending so and so's!!

To which you could immediately then say to them "Well, it's up to your company to prove the debt exists, and if you can't, then f... off".