New here - please help :-(

angelavdavis

Hi there.

I have spent a good while reading through the post and the responses from others here. I hope I have taken everything into account, but forgive me if this is not the case.

The CCA you have posted definitely looks like it relates to the loan.

Some thoughts though:

• The first point is that you need to face up to the harsh reality that as you know, you are not earning nearly enough to cover your expenses. Even without the loan payment, you need to increase your income or decrease your outgoings. Your biggest expense is your house and without an income you simply can’t afford to continue meeting the payments as there is nothing else to cut back on. The house isn’t big enough to allow you to rent out a spare room to raise funds. Bottomline, is there any other way you can increase your income??
• I think you should go to CAB anyway to seek advice on what other benefits you might be entitled to, as has been highlighted here, quite a few posters think you should be entitled to more.
• To buy you time while you are clarifying if you can get further financial assistance, there is a letter here on Nationaldebtline to ask the DCA to hold the account.
• I would definitely report HSBC to the Financial Ombudsman. Include detail around the communications you have made, original amount borrowed, and then the switch to loan, etc. Once your case is being reviewed by the FO, your creditor cannot progress your case. I think RAS and Rog are right - HSBC are not acting as a responsible lender piling on interest when you have effectively paid off the original amount plus £2k of interest and charges.
• Did you transfer ownership of the property completely to you when you divorced? I am amazed a lender would transfer the mortgage to you if you had no income. If this has not happened, your husband is still liable for 50% of the mortgage payments and has left you destitute.
• If the property is in your name, contact Experian, and the other agencies (contact details here) to request that your ex is taken off any association with your file.
• Was the agreement ref the house and debt legally agreed or was it informally agreed? If it’s informal, you need to reconsider this and refer HSBC to your ex to pursue him for the debt as it was joint.
  
  I also think you need to take your husband back to court asap to seek a formal financial settlement. You have been left practically destitute. You need to do this as quickly as possible, because the longer you leave it, the more power your husband has to argue that you don’t need his income to support you and your children.

RAS

Angela

In addition, the HSBC form indicates that credit loan insurance was taken out to cover the ex.

On the other thread, ACEY has noted that her "ex wasn't working (he very rarely worked.....)", when the original OD built up.

I assume that she should argue that this was mis-sold as there was little if any chance that they would ever be able to claim against it?

Frith

• I would definitely report HSBC to the Financial Ombudsman. Include detail around the communications you have made, original amount borrowed, and then the switch to loan, etc. Once your case is being reviewed by the FO, your creditor cannot progress your case. I think RAS and Rog are right - HSBC are not acting as a responsible lender piling on interest when you have effectively paid off the original amount plus £2k of interest and charges.

OK, will do this.

• Did you transfer ownership of the property completely to you when you divorced? I am amazed a lender would transfer the mortgage to you if you had no income. If this has not happened, your husband is still liable for 50% of the mortgage payments and has left you destitute.

I did have an income at the time and the mortgage was only £55,000 (which is a lot, but not compared to other people's mortgages taken out more recently).

• If the property is in your name, contact Experian, and the other agencies (contact details here) to request that your ex is taken off any association with your file.

Will do this.

• Was the agreement ref the house and debt legally agreed or was it informally agreed? If it’s informal, you need to reconsider this and refer HSBC to your ex to pursue him for the debt as it was joint.
• It was agreed in court.
  
  I also think you need to take your husband back to court asap to seek a formal financial settlement. You have been left practically destitute. You need to do this as quickly as possible, because the longer you leave it, the more power your husband has to argue that you don’t need his income to support you and your children.

Yes, it was a formal financial settlement in court as part of the divorce. The ex has given each son £2.50 per week for the last 2 years and will probably never get a job.

Frith

RAS wrote: »

ACEy

if you sent for the statement re the current account last December, was that within the 6 years?

Yes (but only just)

RAS

ACEY

thing are a bit manic and I am away for the weekend.

Will try and do bits inbetween but some may have to wait til Monday.

If it is Ok, I will be firing qs at you, as I think we can pull together info to make a good case re misselling, breaches of the OFT guidelines and unlawful charges (option 2 from last weeks discussions) It will take a few days.

In the mean-time, plase can you book yourself an appt with the financial/benefits advisor at Cab asap.

RAS

ACEY wrote: »

Outgoing
£370 mortgage (not yet receiving housing benefit)

Why are you not yet receiving HB? Can you get this sorted?

RAS

Can you send out a Subject Access Request re the fees on the MCS account? Will need this info to include in the letter to FO.

Frith

RAS - thanks for your help and yes to all (!)

Not getting Housing Benefit as I was sacked (for having a breakdown, but that's a whole other kettle of fish).

Apparently it kicks in after 9 months which is now!!! Luckily I have been able to pay the mortgage (but not the endowment) using the money I got from reclaiming bank charges from Lloyds.

Liz
P.S Left the car window open and rain is also coming down the chimney :-(

angelavdavis

RAS wrote: »

Angela

In addition, the HSBC form indicates that credit loan insurance was taken out to cover the ex.

On the other thread, ACEY has noted that her "ex wasn't working (he very rarely worked.....)", when the original OD built up.

I assume that she should argue that this was mis-sold as there was little if any chance that they would ever be able to claim against it?

I agree, I think she was mis-sold. That should also go into the FO letter.

Frith

Is there a template on here for an SAR? Is it OK to change it a bit to make it suit a DCA?

Liz