Old HSBC credit card problem

Peter1979

Hi all,

I wasn't 100% sure where to put this so thought I would start here, feel free to move if it fits better in another section.

The problem is;

I had a HSBC credit card and I got in to some real problems financially around 2008. A family member helped me out and I paid 50% of the outstanding balance in final settlement as I was out of work and having some real difficulties. On my experian credit report it shows the other 50% as outstanding and when I asked Experian to remove it from my report they said HSBC declined to remove it.

They have never chased me for this amount.

I clearly stated in my leter it was for final settlement. I would need to request a copy of this letter as the laptop I drafted the original offer and letter sent with the cheque has now died with all the information on it lost.

I had a number of problems with HSBC such as loan, overdraft and this credit card. The loan and overdraft were settled via collection agencies and are showing as satisfied on my report.

What should my next move be on this? I'm also fairly sure my default date is incorrect too.

Thanks

Pete

[Deleted User]

It's not the letter from yourself stating it's a f&f settlement that you need.. It's the one they presumably sent you confirming the same.

Peter1979

Just checked Equifax report, that says settled and no amount outstanding. Refer back to Experian?

stephane_2

Have they ever confirmed back in writing that paying 50% of the debt would be accepted as a final settlement and your file would be marked as satisfied? If not then it will be very hard to have it removed and potentially they could chase you for the remaining 50%....

Peter1979

I've since moved and don't have the paperwork.

I am 100% sure I wouldn't have accepted anything other than their acceptance of my offer in final settlement.

bigadaj

Peter1979 wrote: »

I've since moved and don't have the paperwork.

I am 100% sure I wouldn't have accepted anything other than their acceptance of my offer in final settlement.

Without document entry evidence then the odds are weighted against you.

dalesrider

Peter1979 wrote: »

I paid 50% of the outstanding balance in final settlement as I was out of work and having some real difficulties. On my experian credit report it shows the other 50% as outstanding and when I asked Experian to remove it from my report they said HSBC declined to remove it.

They have never chased me for this amount.

I clearly stated in my leter it was for final settlement.

Pete

While it mat have been final settlement it was not the full amount owed.
So why would any bank mark it as satisfied.
If you want them to do this, Then pay the other 50%.

While they were happy to take the 50% pay off. Its fair that your credit file reflects this. So any future lenders know what has happened in the past.

As to the other debts. Were they paid in full? Or did you again manage to arrange a % deal.
Perhaps this was more than the debt co's bought it for and they are happy to mark it as satisfied.

Peter1979

Others had been settled as a percentage.

Am I right in thinking they have to keep all documents for around 7 years? So if I requested all details from them they would have to provide me with all correspondance and if they couldn't then they would be unable to prove it were anything other than a final settlement.

I understand what you're saying in that they can show an amount outstanding, however if it is in final settlement then that means final settlement, not another 50% to pay and as such it is most definitely not an outstanding amount.