Do I owe this debt or not?

Fweckles

Hi Guys
Wondered if someone could help.
I have been recently writing to my old loan companies in an effort to establish which loans had PPI's, so that I could reclaim them where possible. First Direct (HSBC), initially refused to give me the paperwork on the basis that the debt had been cleared. However, after a further 4 letters they have now provided it, and indeed I didn't have PPI. However, they confirmed that the loan was taken out in 2007 and subsequently closed in August 2008. It was in 2008 that I took out an IVA with CCS which was later closed by myself, and I then arranged to repay my debtors direct which I have been doing to date. I am still paying this First Direct Loan to a company called Metropolitan Collection Service and have been paying monthly ever since, but I am trying to get my head around the wording of First Direct's letters. They are saying the account is closed but MCS are saying I still owe the money. Does that mean First Direct are not getting my money then? Or have MCS purchased the debt from FDirect? And therefore I owe the money to MCS and not FD is that right? Is there any loophole here... I am working 240 hours a month to get out of debt, have never missed a payment on any of my arrangements and yet I seem to be killing myself just to pay of these debts. I know I should have gone bankrupt but I wanted to return the money to those I owed (maybe foolishly!?)... Any advice greatly appreciated..... thank you

amersall

Hi there, you are correct,you owe to MCS as they will have taken this debt over,all you can do is keep paying and remember, each month gets you nearer to clearance.
You could ring MCS and see if they will reduce the monthly payment for a while if you are suffering financially,if you put an income and expenditure into them,you never know do you?.