HSBC Loan; they are unable to provide my CCA

Kosenurm

Hello,

I have held a £10k loan with HSBC since 2011. I wrote to HSBC data compliance to request a copy of my original signed credit agreement, for this loan. I have today received a response from the Assistant Manager of Data Privacy Compliance saying that 'unfortunately, we are unable to locate the credit agreement for loan (sort and acct) as this is not held electronically or in a relevant manual filing system'.

Does this mean that they can continue to enforce the debt, or can I take my case to the ICO and/or FOS to try to get the rest written off?

Many thanks,

K

gb12345

Kosenurm wrote: »

Hello,

I have held a £10k loan with HSBC since 2011. I wrote to HSBC data compliance to request a copy of my original signed credit agreement, for this loan. I have today received a response from the Assistant Manager of Data Privacy Compliance saying that 'unfortunately, we are unable to locate the credit agreement for loan (sort and acct) as this is not held electronically or in a relevant manual filing system'.

Does this mean that they can continue to enforce the debt, or can I take my case to the ICO and/or FOS to try to get the rest written off?

Many thanks,

Phil

Did you borrow the money?

Apples2

You're in the clear you lucky chap. Cancel the direct debit and enjoy your well deserved freedom from those vultures.

Kosenurm

Apples2 wrote: »

You're in the clear you lucky chap. Cancel the direct debit and enjoy your well deserved freedom from those vultures.

Thanks, but could they register a default against me for not paying?

Kosenurm

gb12345 wrote: »

Did you borrow the money?

Of course I did. However, as with all of these kind of sites, every page you look at urges you to challenge the compliance of your financial agreement. I took out a loan and the bank has a responsibility to maintain adequate record keeping of this agreement for a period of 6 years; certainly whilst the loan repayment is ongoing. They haven't, and they have admitted this, so does this put my agreement into dispute?

gb12345

Kosenurm wrote: »

Of course I did.

Stop trying to look for loopholes then and pay what you owe.

All it means if they can't provide a CCA is that they can not pursue the loan through the legal system - they can still register defaults against you and set DCAs on you.

gb12345

Kosenurm wrote: »

Thanks, but could they register a default against me for not paying?

Kosenurm

gb12345 wrote: »

Stop trying to look for loopholes then and pay what you owe.

All it means if they can't provide a CCA is that they can not pursue the loan through the legal system - they can still register defaults against you and set DCAs on you.

Thank you for your unambiguous reply. Although they are certainly able to register defaults and employ DCAs, is their agreement with me enforceable at the moment?

Kosenurm

gb12345 wrote: »

You might want to spell-check the images you post first...

:undecided

gb12345

Kosenurm wrote: »

Thank you for your unambiguous reply. Although they are certainly able to register defaults and employ DCAs, is their agreement with me enforceable at the moment?

That is a grey area - do a search on reconstituted credit agreements and then decide whether you want to to take your chances.

Either way, you will still end up with a trashed credit record for the next 6 years, so don't plan on trying to buy a car, a house or even get a mobile phone contract.

Kosenurm

gb12345 wrote: »

That is a grey area - do a search on reconstituted credit agreements and then decide whether you want to to take your chances.

Either way, you will still end up with a trashed credit record for the next 6 years, so don't plan on trying to buy a car, a house or even get a mobile phone contract.

OK thanks.