New here - please help :-(

lemma1968

I'm assuming the other place you went ot for help was the CAG.

Overdrafts are tricky when it comes to CCA's but if they converted it to loan, which many do then it still applies. Does the document have all the prescribed terms?

If in doubt there are some good people on here, but also a couple of fab ones on the CAG. pm me if you want their names to contact direct on the CAG site for help also.

Sorry if if have taken a backward step here.;)

RAS

Thanks to Rog, the OFT guidelines on debt can be found at the following link:

http://www.oft.gov.uk/advice_and_resources/publications/guidance/consumer_credit_act/oft664

I am stashing it here so that we can both look at it and work out which sections have been ignored.

Frith

Grrr, Equifax isn't working at the moment and Creditcall will only accept a payment from a credit card but I have a debit card!!!

Liz

Frith

Still heard nothing from MCS and my fortnight has passed....

RAS

ACEy

A fortnight since ...what. Getting lost in time?

Frith

The fortnight they gave me to write to them and tell them what was wrong with their CCA

RAS

ACEY

Sorry

been really busy and am just off to a hen night!

will look things again tomorrow. When you look at the OFT Guidelines, could you identifyu any areas where you think they broke the rules?

RAS

ACEY wrote: »

I'm going through the statements again :-(

These are for the current a/c with HSBC.

27th Nov 2000 we were £950.73 overdrawn.
The statement then says:
27.11 Loan capital from (other a/c number) £12,170.00. (This is a credit)
27.11 Loan protection £2,000.65 (this is a debit)

so we then had £9,139.08 - was this a positive sum in your account or a debt? Or just a nominal transaction to allow the payments that went out on Nov 29?

29th November 2000
Loan repayment to other a/c (not the same number as the loan a/c???????) £4,985.49 debit
29.11 Loan a/c £2,671.35 (does not state the a/c number) debit
29.11 Loan premium refund £467.93 credit

Then I can see we paid £260.62 2nd Jan 2001, and £260.93 on 31st Jan 2001 towards the loan.

Then, there are no credits at all except my last maternity paycheque on 23rd Jan 2001 which was £355.36. So we were going overdrawn once more with charges building up.

3rd May 2001 we were £1,414.98 overdrawn.
4.5.2001 Loan repayment (to the a/c) £11,875.10

This made us £13,290.08 overdrawn :-( :-(

8.5.2001 debt collection (credit) £11,875.10
8.5.2001 debt collection (credit) £1,414.98 left the a/c at 0.00 and it was then closed.

ACEY reading this again, I am not sure what is going on.

I really think you need to sit down with wsomeone who can see the original documents and try to work out what was happening. Can you try CAb again? Or CCCS?

RAS

ACEY wrote: »

Can't get CAB appointment so I've written to them including the "CCA".

Any response from them? Can you ring Monday if not.

RAS

Dear CEO of HSBC

Complaint re loan.

In 2000, at a time when OH was not working and I was on maternity leave, our OD was over £2000. We were invited to attend the branch and asked to take out a loan to cover this and ..., with credit protection insurance, with repayments totalling £- - - per month.

SADLY, THIS IS THE INFORMATION I JUST DON'T HAVE AS MY STATEMENTS DO NOT GO BACK THIS FAR.

In the absence of regular income, we were called in to our local branch each time the overdraft increased to sign for a larger loan. We weren't given a choice and had no other way to pay off the overdraft nor were we offered any advice as to where to seek advice.

In November 2000, this loan was increased to value and the credit loan protection was increased so that the debt was £10,170.06 at a cost of £260.93 per month including
Personal loan - £4930 plus extra loan of 1600 = £6530
plus MLA - £2650, MBA - £950, Charges - £27.50 and Int - £12.12

By May 2001 the loan, the loan repayment was £11,875 and the account was closed and refered to "Debt collection", for which latest £1,414.98 overdraft was added to the account.

However when the account with Mercentile Credit Services X Metropolitan Collection Services was opened the value of the loan was £18,000.

In the period after May 2001, I paid MCS 100-150 pounds per month. In January 2005 I had to remove myself and the children to a women's refuge but continued to meet payments.

In late Jan 2005 I returned to the house to find thatr ex has hired a van and emptied the house, which made it diificult to find any money to pay the loan but I carried on paying.

As a result of a breakdown in July 2006, I lost my job but carried on paying £100 per month until October 2006 when it became impossible to meet that figure. I then asked for it to be reduced and paid £33.92 until Feb 2007

MCS phoned DOZENS of times trying to make me put payments up but I said no, so they started taking TWO payments each month.
So we have Feb 26th £33.92 to "HSBC" and Feb 28th £21 to "MCS"
and March 26th to HSBC and March 28th to MCS
and April 26th to HSBC and 28th to MCS.....
at this point I cancelled both standing orders and have not paid anything since.

The divorce settlement means that I am now liable for the debt but I had to take an additional mortgage to pay the solicitor's fees and consequently cannot afford £33 per month.

The remaining debt stands at £9,900 despite the fact that I have paid £8,000 since the loan was first taken out.

I am asking you to review this account and to reduce or remove the debt on the following grounds

1. Under OFT guidelines, people who are in debt should not be offered loans which increase their indebtedness 2.6.b.

2. Credit loan protection was included to cover OH despite the fact that he rarely worked. I was employed but CLI was not offered to cover my employment. We were not advised that this was optional. This increased the indebtness and affected the capacity of the payments that were made to reduce the total owed. This was a clear case of misselling.

3. The manner in which we were called back at intervals to sign new documents increasing the loan meant that we were paying additional fees every few months.

4. In the period after November 2006, MCS phoned DOZENS of times trying to make me put payments up but I said no. Their action was in contravention of the OFT Guidelines 2.6.a (unreasonable intervals) and 2.6.f (pressure to increase installments when unable to do so)

5. During the last 6 years, charges totaling (value to be determined from SAR) were added to the account.

6. It is unclear from the information available what the charges for MBA refer and how the sum increased from £13,200 (including charges for debt collection and Credit loan insurance) became £18,000 when the loan was transfered to MCS