Metropolitan Collection Services (HSBC)

skyshadow

Just thought I should add I did a full and final cheque offer of 1% (yes 1%) of the balance owing. Contract law won out and cashing my cheque meant the debt was cleared.

I then sent a letter explaining that should they ask for any information they already hold (such as copies of letters they already hold) I would invoice them £18 per hour for my time.

Well the goons asked to see proof the debt was settled, I explained that Metropolitan were actually a fully owned company of HSBC and so would hold all the letters yet still they asked for me to send copies...so I did with invoices for £18.

Metropolitan refused to pay and so I issued a court claim against them for the whole £18 which they tried to counterclaim the outstanding balance.

In the end they caved when they realised it would cost more to defend the claim than to pay me off. Invoice and court costs paid, debt wiped, HSBC firmly put in their place.

Hope this spurs people on to challenges these swines

anniebourne

I had an HSBC loan, then 3 months into paying it I was diagnosed with Breast Cancer which meant I needed 3 months off work. I asked HSBC to freeze the loan payments......just for a little while til I was back to work, but they declined. In the time it took me to get back to work, I had defaulted and it had been passed to Metropolitan. that was 4 years ago, and today I still ow them £8,100 at a rate of £15 per week. So I rang them this morning and offered them a full and final settlement figure of £600 and was gobsmacked when they accepted! I am just waiting for my letter of acceptance then I will be paying this off. I just cant believe that I didn't have to write letters, just a couple of phone calls......I just basically got approx a 95% discount. AND for HSBC not giving a damn about my circumstances, I am going to wait until this is paid....next week hopefully, then I am hitting HSBC for my PPI on the loan and credit card I had....my credit card was never in arrears, but I am making them pay me every single penny if I am owed any......

darkelf

Wow!!!, did you have to explain much about your circumstances? Or just made the offer?.

mikadganjad

Hey, Well Done Angrydog & Skyshadow on your recent successes.

Without going into too much detail, I have part won a case which imvolved the Ombudsman and HSBC in which I have to pay back half the amount I (apparently) owed on a bank account which i thought was dormant.
Total sum is around the 950 mark.
I am now starting to receive letters from Metropolitan firstly thanking me for making a payment of 27 quid (Which I know nothing about?), and secondly, how I'm prepared to pay the remainder.
Now this has got me wondering where they've got this 27 quid from and/or have they breached some rules here.
This aside, I'm thinking of offering a daft amount to settle the whole thing, but have heard that even after they agree to any offer, they may sell the remainder to a 3rd party collector who may then hound me for more money at a later date.
Has this ever happened to anyone?? :eek:

[Deleted User]

mikadganjad wrote: »

but have heard that even after they agree to any offer, they may sell the remainder to a 3rd party collector who may then hound me for more money at a later date.

This is why you need to get it in writing, that the payment is in "FULL AND FINAL SETTLEMENT", and the remainder will not be sold on, or otherwise pursued.

skyshadow

The best way to do a full and final is to send a cheque from a 3rd party with a different name so there is no wiggle room for misunderstanding and write on the back of the cheque re letter so that the cheque can only be allocated to the account by reading the letter which ties them into understanding what the offer was for.

To sweeten the deal I send all my letters putting them on notice that requesting copy documents from me that they already hold will be complied with but will also be invoiced at the rate of £25 per hour.

Generally when the collection monkey calls wanting to see proof of the settlement and I make reference to the letter I sent they ask to see a copy which I do warn them that it will come with an invoice which they generally laugh at saying "haha go on send us an invoice then"

Cue a copy letter and an invoice.

They then didn't pay so I issued a court summons for the £25 which costs them more to defend.

You'd be amazed how quickly they reconsider their position on this.

So net result is debt written off for 1% and a payment for my invoice with a net profit to me. This is how you deal with these morons

AngryDog

skyshadow wrote: »

The best way to do a full and final is to send a cheque from a 3rd party with a different name so there is no wiggle room for misunderstanding and write on the back of the cheque re letter so that the cheque can only be allocated to the account by reading the letter which ties them into understanding what the offer was for.

To sweeten the deal I send all my letters putting them on notice that requesting copy documents from me that they already hold will be complied with but will also be invoiced at the rate of £25 per hour.

Generally when the collection monkey calls wanting to see proof of the settlement and I make reference to the letter I sent they ask to see a copy which I do warn them that it will come with an invoice which they generally laugh at saying "haha go on send us an invoice then"

Cue a copy letter and an invoice.

They then didn't pay so I issued a court summons for the £25 which costs them more to defend.

You'd be amazed how quickly they reconsider their position on this.

So net result is debt written off for 1% and a payment for my invoice with a net profit to me. This is how you deal with these morons

I wish I had the gumption to do this! Having written to MCS lately with a Full & Final Settlement offer for my Credit Card, like last time, I havent heard back from them.

mikej85

I have read all the comments and they are very help full. I have my own issues Basically I owe HSBC on a loan and credit card. I signed up to valour financial to help with the debts. I still get letters from HSBC sing I owe them money. one of me debts has been passed to the metropolitan collection service. My main question is am I still able to offer them a full and final payment as it is going to take 5 years to pay how I am now and being self employed I don't want the debt for that long. I'm hoping some one can help. Thanks in advance.

sourcrates

mikej85 wrote: »

I have read all the comments and they are very help full. I have my own issues Basically I owe HSBC on a loan and credit card. I signed up to valour financial to help with the debts. I still get letters from HSBC sing I owe them money. one of me debts has been passed to the metropolitan collection service. My main question is am I still able to offer them a full and final payment as it is going to take 5 years to pay how I am now and being self employed I don't want the debt for that long. I'm hoping some one can help. Thanks in advance.

Of course you can, you can do this at any time, I hope you haven't signed up to a fee taking debt management company ?
if you have cancel it straight away, they do nothing you cant do yourself.

mikej85

I have u fortunately that's why I want to get rid of my debt I go away with work all the time for months at a time so don't have the time and no one else would help me. I tried to get HSBC to help years ago and they just said stop spending money.
So basically do I print off that example letter and just make them an offer?
I just want HSBC out of my life for good.