HSBC Loan Disappeared.....

JamesM7007

I have been in a DMP through the CCCS for about 2 1/2 years. There are a couple of credit cards, a couple of loans and an overdraft. At the start sorting everything out took a little time, and debt got moved about to various collection agencies. On the whole though everything has now been stable for 2 years, with all of my creditors accepting my monthly payments (which I have never missed!) and I have been able to slowly increase the repayments, which is really starting to help.

Looking at my statement, I saw that CCCS have not paid my HSBC loan since last October, which worried me a bit so I called them up. They say that when they tried to pay it, HSBC said that they are no longer dealing with it, but, couldn't say if they have sold it, moved it or what.

I have had nothing at all, no letters, calls or anything to say that it has been sold, or moved, or that legal action is being taken. Nothing.

Anyone got any thoughts? Has it slipped between the cracks, or do I have a nasty surprise on its way? Anyone else had a similar experience?

Its not a small loan, there is still £11K outstanding and its definitely still on my credit file.



Cheers
James

exarmydreamer

Hi, just wanted to bump you up the thread. Can't really offer any advice but I'm sure someone will come along to help you.

stephane_2

HSBC has probably sold on the outstanding loan to a debt collection agency....am sure you'll here from them sometimes soon.

piglet74

Is there any chance it has been written off as a "bad debt", I don't know if this even happens but I recently wrote to 2 companies I had accounts with and told them about my (dire) financial situation and asked would they consider writing off what I owed them, one agreed verbally over the phone and then wrote to me just saying "your account has now been settled in full... Thank you for ur custom".. Etc, and the other I haven't heard from since, they have stopped phoning and writing asking for money so I am not sure about them. But is it possible it was something like this?