Hsbc sold dept

Yvonne_collyer

This is my first post.PLEASE BE AWARE OF THE FOLLOWING,.
IN 2014 HSBC SOLD MY DEPT OF £3,000 THAT I :WAS PAYING BY STANDING ORDER :TO DEPT COLLECTION AGENCY,SO I NOW PAY THEM,BY DIRECT DEBIT £10 A MONTH.IV JUST DISCOVRED,THAT THE STANDING ORDER TO HSBC IS STILL ACTIVE.SO BEEN PAYING BOTH.BUT THE STANDING ORDER IS NOT TO HSBC,ITS PAID TO M.C.S.WONDERING HAS ANYONE ELS EXPERIENCED THIS.BEEN PAYING BOTH SINCE 2014.WOULD BE INTERESTING TO HAVE SOME FEED BACK.IT IS NOW BEING DELT WITH BY THE FINACIAL ODBINSMAN,OWING TO NO BODY WAS WILLING TO HELP ME,.

PaulW922

So you have been paying both MCS and HSBC? How much per month are we taking about?

Yvonne_collyer

£10 a month.I could not find out anywhere,who is MCS.NO IV BEEN PAYING THE DEPT COLLECTION AGENCY:WHO PURCHASED THE DEPT,AND MCS.

Yvonne_collyer

So Total each month £20.THANKS FOR REPLYING SO SPEEDY.??

noh

A standing order can only be set up by the account holder.
If it is really a standing order it is you who set it up and presumably you knew who you were paying when you did so?

jonesMUFCforever

MCS is really HSBC  in disguise, so you have been paying £20 per month towards your debt with them.
Assuming no interest has been added to your original £3000 debt you have paid £20 x say 72months = £1440 or about half way.
If you think you will get any of this back - I think you will have to think again.
IMO they won't refund any.

Yvonne_collyer

Yes I did set standing order up.But when they sold the dept on,should they have stoped taking the money from standing order.And is it right,to use "as you put it a" name in disquise".I have stoped all payments,and now receiving reminder letters fro Robinson way"DCA.But nothing from MCS.So will the odbinsman, come to the same conclusion as you have,"quote"paid half the dept,"unqout".I was hoping for a refund+interest??

Yvonne_collyer

And I don't get your last comment.sounds a bit sarcastic. 

noh

A standing order can only be set up or cancelled by the account holder. HSBC could not stop receiving money, because they aren't in control of the payment, you are.

Zanderman

noh said:

A standing order can only be set up or cancelled by the account holder. HSBC could not stop receiving money, because they aren't in control of the payment, you are.

^^^this.
A bank can't cancel a standing order. 
So, Yvonne_collyer, , if you're paying by standing order the fault is yours. 
You are the only person who controls a standing order. 
If you don't cancel it it carries on. 
As it has done.
Direct Debits, on the other hand, are you giving someone else the authority to take money, and that person (the bank) controls the amounts going out.
Standing Orders though are exactly what they say they are - a standing order from you to pay a precise amount regularly until you cancel it.

adamp87

If they’ve sold it on then they’ll have passed the payment to the new company most likely that’s what normally happens. 

You get an annual statement from your creditor at the end go every year so you should be able to see this happening - double check the figure you owe to the debt agency who brought the debt to make sure.

But it’s up to you to cancel the standing order, HSBC haven’t done anything wrong here I’m afraid.

Also I’d refrain from using All Caps when posting. Let us know how you get on