New here - please help :-(

Frith

I've been trying to sort out my debts over the last 2 year and am now left with just one - but its a big one!!

I had an a/c with HSBC which went overdrawn (I'm in the middle of reclaiming the bank charges). In 2000, they said it was so overdrawn I would have to take out a loan with them, so I did.

To cut a long story short (redundancy/maternity leave/ex doing a runner) the loan went unpaid for a few months and was blacklisted and taken over by MCS. Loads of charges seem to have been put on at that point.

I was getting help from another site (better keep them nameless) who suggested I get a copy of the CCA from MCS. I did this and have done nothing for a couple of months. Now MCS say I have 14 days in which to send them a copy of the CCA, highlighting the bits I don't agree with. I have been back to the old site, but now I'm in a bit of a fix, I've had no help from anyone there at all!!!

Well, I simply don't know enough about CCA's to be able to do this!
I have scanned them and I'd be REALLY grateful if someone could take a look for me so I can write another letter to MCS - otherwise I'll have to admit defeat and start paying them again.


Thank you.
Liz

RAS

Confused

They have 14+2 days to send you the CCA.

When they did this, was it the original that you signed? Did they sent the letter of assignment, from HSBC to MCS?

There are no scans associated with your post but you may not be allowed to post attachments.

During the period between you requesting the CCA and MCS sending it, the account was in dispute, so they could not chase you. If they provided the CCA and letter of assignment, then you probably do owe the money, so they want to know what is happening and why you have not been in contact to make arrangments.


That does not mean that you have to pay it back in the amounts and timescale that they might like.

Really, we need to see how much you have coming in and out and to know
how much you owe in total and what the APrs are on all your debts.

It would be advsieable contact any of the debt charities who can help you negoitiate but you will need the Soa for them as well.

Frith

I'm so confused now!

The debt doesn't get any bigger, apparently they put all the charges and interest on at the beginning (?)

The "other site" said the CCA wasn't a proper one but now have gone quiet when I need to know in what way it isn't "proper".

I owe almost 10,000 to MCS and am in income support with 2 young children.

Frith

I don't think there was a letter of assignement, no.

CLAPTON

not quite sure what you are saying but it looks like this to me.

a. you agree the debt is yours

b. but you asked for a copy of the credit agreement on the advice that if they couldn't find it they couldn't enforce the debt.

c. but they have sent you a copy of the agreement and it looks ok ???

d. why did the other site say it wasn't valid ? (e.g. did it have your signature ?? )

If it is ok, then you are back to owing the debt and need to decide what to do. If you want advice about the way forward you need to post an SOA and give us the background.

RAS

ACEY

Thanks.

i know it is a pain, but could you type in the contents of the CCA from the company.

Does it have your signature on the bottom?

And a letter of assignement would be from HSBC saying that they assigned the debt to MCS. Did you ask for it?

RAS

Frith

Sorry, what is an SOA?

RAS

it is on southerscouser's stickie here http://forums.moneysavingexpert.com/showthread.html?t=107280

Highly recommended, if only because he was on here last week chuffed as muck, having paid off half his debts.

Frith

OK, state of affairs....

Incoming
£57 per week income support
£30 per week child benefit
£70 per week child tax credits so that is £157 week £628 per month

Outgoing
£370 mortgage (not yet receiving housing benefit)
£84 endowment
£70 electricity
£8.10 water (!)
£30 phone
£20 house insurance
£25 car insurance
£200 food
£40 petrol (live 10 miles from nearest shop and 4 miles from school)
£10 to tax credits people for overpaying me in past
£30 to MCS (currently not paying)

Don't have holidays/perks/new clothes.... We have far less coming in than we need to cover the bills at present.

Frith

This is the first letter I sent

Re:− Account/Reference Number 4563210025897412

With reference to the above agreement, we would be grateful if you would send us a copy of this credit agreement.

We understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request. We enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

We understand a copy of our credit agreement should be supplied within 12 working days.

We understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

We look forward to hearing from you.

Yours faithfully

liz105

Hi,

£157 per week, X 52 / 12 will give you a better idea on your monthly incomings, so I make them £680 not £628. (already better off!)

Food bill is quite high, there's familes with 4 or 5 kids on here paying less than that, get over to the old style board for meal ideas batch cooking etc.

Electric is very high, go to uswitch to see if you can get a better deal, do you budget at all for christmas and birthdays? I know you say you dont have perks but a little put to one side a month (£5 maybe) can help.

Could CCCS help with the loan? or payplan? they may not be able to straight away as you dont appear to have any disposable income but they could give you some advise.