HSBC have sold my debt?

penguin83

Hi hotblu. My OH defaulted on his managed loan he was supposed to pay 240.00 and just couldnt afford it. They sold it on to a dca who were actually really helpful. He is now paying 100.00 pm interest free (hsbc charged a huge rate) and has been sent a payment card as hsbc closed his account. Just to look on the bright side you may end up better off with a dca x

emmapeel

Nightmare to think you're not in control anymore I know. Try and keep in touch with the new lender though and just pay what you can afford now.

I had the same problem about 8 years ago with HSBC. They sold my debt to another company and I managed to agree £40 per month repayment with them. However, I never got a statement from them and now have moved house and have no way of identifying who I am actually paying the 40 quid a month to!

It's been so long now, I don't know what the outstanding balance now is and can't find anyone who can help me contact the "lender" to repay in full now that my circumstances have changed.

I shudder to think how much wasted interest I am still paying on this loan but have no idea what to do to clear it. (I've considered just cancelling the standing order to get their attention but since I've moved house they wouldn't be able to find me anyway until it got really out of control).

Any ideas anyone?