Have HSBC Breached The CCA?

CLAPTON

I'm a bit surprised that as you work for the CAB, why you aren't receiving specific and comprehensive advise from them?

theblindman

I dont know the consumer credit act, but you did borrow the money, why do you think it right not to repay it. Why did you not write to them offering to make payments at the old interest rate until the debt is cleared, or use your isa savings to pay it off in one go.
I'm afraid i think you have contributed significantly to your credit rating being affected. If i was to make a decision about lending you money I would take into account the fact that you would walk away if some of the paperwork was lost, not quite filled correctly etc and feel no moral obligation to pay.
JMHO

Eonel

For someone who seems to be very clued up on finance, savings & credit cards it strikes me as a bit odd that you would cease making minimum payments.

Eventhough in you may ultimately be proved right, it was predictable that in the short term it would lead to defaults, debt collection agencies & trashing your credit record.

You may be able to repair this damage through the complaints procedure or with the FOS. But from where you stand now I would cash in your ISAs and pay off the full debt - CLAPTON has already point out the interest rate differential.

Once the debt is cleared & the damage contained, then pursue your complaint for full reimbursement of fees & interest.

MattLFC

CLAPTON wrote: »

I'm a bit surprised that as you work for the CAB, why you aren't receiving specific and comprehensive advise from them?

As I said, I'm on IT support, and cover all the local branches and outreach centres... and don't wish to discuss personal and confidential matters with colleagues. I have however had some advice from the regarding it, and also some advice from the FOS helpline already, both of whom confirmed that the debt is currently unenforceable without the credit agreement, and that the route I choose to pursue is a personal choice that I must make, and neither would advise either way given my circumstances.

I just feel let down by HSBC, and whenever I speak to them regarding it, they simply want to get the debt paid, and are completely unhelpful - and you never get to speak to an English person any more lol.

Credit rating doesn't matter much, I won't be requiring any further credit in the forseeable future and am fortunate enough to have plenty of liquid assets, this credit card and mortgage is all I have had other than normal things like mobile phones (which I won't be renewing since PAYG deals are crazy these days and suit me perfectly) and pay all insurances as a whole not monthly (though not sure if they even do credit searches on you).

Hanky_Panky

MattLFC wrote: »

As I said, I'm on IT support, and cover all the local branches and outreach centres... and don't wish to discuss personal and confidential matters with colleagues. I have however had some advice from the regarding it, and also some advice from the FOS helpline already, both of whom confirmed that the debt is currently unenforceable without the credit agreement, and that the route I choose to pursue is a personal choice that I must make, and neither would advise either way given my circumstances.

I just feel let down by HSBC, and whenever I speak to them regarding it, they simply want to get the debt paid, and are completely unhelpful - and you never get to speak to an English person any more lol.

Credit rating doesn't matter much, I won't be requiring any further credit in the forseeable future and am fortunate enough to have plenty of liquid assets, this credit card and mortgage is all I have had other than normal things like mobile phones (which I won't be renewing since PAYG deals are crazy these days and suit me perfectly) and pay all insurances as a whole not monthly (though not sure if they even do credit searches on you).

Point 1 - All HSBC need to provide you with is a re-constituted copy, as has previously been stated you agree to the terms and conditions by useing the card which you did. They may not have a signature but in this context it is irrelevant.

Point 2 - Get over it - seriously, they're a bank not a charity and don't expect any help from them at all.

Point 3 - heard it over and over before on here. A year down the line you want to re-mortgage to get a better rate and you can't because of thsi deafault. You may think now that you're not going to need any further credit however this has a real habit of coming back to bite people on the backside.

From what you have posted before you have been given a bit of advice that may be relevant but actually isn't in your case and you have run with that to your detriment.

I would advise you to pay up immediately and appeal to HSBC's better nature to see if there is anything they will be prepared to do about the deafault - unlikely though.

ILW

Even if the debt is unenforceable (unlikely), it is still owed and will cause you grief for years. Just pay it off if you have the money.

Not liking the nationality of their customer service people, is not a valid reason for witholding payment of monies owed.

opinions4u

Gosh, some of us have got out of bed the wrong side this morning, do you really all hate you jobs that much lol?? Chill out for crying out loud, lose the attitude!!

Some people take the attitude that people who spend somebody else's money and then look for sneaky ways not to pay it back get everything they deserve.

Oddly, the replies you took offence to all appear to be reliable and factual comment on your post. Do you have a propblem with that?

buglawton

Well I had a spat on the phone last night with HSBC (got to correct person after 20 mins on phone to India) over £75 unexpected ISA related charges. They agreed to waive the charges after I expressed strong displeasure! Was impressed how flexible they could be once I had politely but forcefully made my point.

If you are willing to wait thru a couple of Asian operators of an evening, HSBC is not all bad.

izools

Some points for OP:

1. Continuing to miss payments will have a severe adverse effect on your credit rating for six years
2. You don't need to be a whiz or psychic to establish that if you use a card, it will be viewed as tacit agreement to the terms which were printed on the letter the card was attached to. Only one person can be blamed for not reading this prior to using the card
3. Even if the debt is proven to be unenforceable (99% unlikely) the debt still remains a debt, it merely can't be enforced in court. This means that
i) HSBC can take money from other accounts you hold with them to repay the balance (Right to offset - in your current account terms you agreed to)
ii) HSBC can continue debt collection activities so long as they aren't breaching harassment laws or administration of justice act
iii) HSBC can still lawfully report negative data on your credit file and you have no right to have this removed
4. You will have had the opportunity to opt out of the rate increase

Your best plan of action is to

1. Bring the account back up to date double quick
2. Raise a formal complaint with HSBC in respect of their not informing you of your right to opt out of the APR increase

Good luck! :beer: