Help with debt collector

System

This discussion was created from comments split from: Struggling with debt? Ask a stepchange debt adviser a question.

ash5896

Hi
Back in 2006 I had a serious spinal cord injury. Cut along story short in 2009 it was obvious I’d be unable to continue working and my job was ended. Up until then I was up to date with all my debts as I’d stopped using all credit after my accident. I was out into a debt management plan and was making token payments to different banks. All the debts were sold on to various companies like Cabot, Capquest, arrow global and MCS. Recently after further deterioration in my health Arrow, Capquest and Cabot write off the debts due to ill health. This has now only left MCS. I have only been making token payments to all of the creditors of a £1 a month since 2009. Unfortunately I now have no details for MCS and since the plan was set up on 2009 I have not had any correspondence from MCS. I want to contact them too but there is no contact details for them. I’m really not sure how to move forward with them. The debt with MCS was originally with HSBC bank and was for an overdraft and loan. 

Regards 

finalfantasist

A quick Google shows them as being HSBC's internal debt collection department, so contact HSBC?

sourcrates

Hi,

I`ve moved your post to the general forum.

If you have been making token payments to this debt for over ten years, now is the time to stop, and take a reality check.

Making token payments means the debt never becomes statute barred, my advice would be to stop making payments altogether, and then see who writes to you, that`s about the only way to grab their attention.

My gut instinct is telling me this account is probebley languishing in some delinquent portfolio somewhere that never see`s the light of day, and has been forgotten about.

ash5896

Thanks for your reply Sourcrates. To be honest it’s unlikely I’d ever be able to increase the payments from what I’m paying now as my health is just getting worse. I honestly don’t know what to do one part of me does want to do as you suggest and the part is thinking don’t rock the boat and just pay the token payments. I’ve just about got over and accepted my health issues it’s taken a long time and the last thing I want is these people hounding me day and night like they did before. 

One more question which I’m not sure about is are they not supposed to send statements or some sort of correspondence regularly? All my other creditors sent regular statements, reduced offers of settlements etc

sourcrates

ash5896 said:

Thanks for your reply Sourcrates. To be honest it’s unlikely I’d ever be able to increase the payments from what I’m paying now as my health is just getting worse. I honestly don’t know what to do one part of me does want to do as you suggest and the part is thinking don’t rock the boat and just pay the token payments. I’ve just about got over and accepted my health issues it’s taken a long time and the last thing I want is these people hounding me day and night like they did before. 

One more question which I’m not sure about is are they not supposed to send statements or some sort of correspondence regularly? All my other creditors sent regular statements, reduced offers of settlements etc

It is a requirement of the consumer credit act yes, you have had no contact in 10 years with whoever you are paying.

I understand your reluctance to rock the boat, but to my mind, your just wasting money, i suspect this account went delinquent years ago, and has probebly been written off or forgotten about, as no debt collector would be quiet for that amount of time.

My gut instinct, if you stop paying, is that`s the last you will hear from them.

ash5896

sourcrates said:

ash5896 said:

Thanks for your reply Sourcrates. To be honest it’s unlikely I’d ever be able to increase the payments from what I’m paying now as my health is just getting worse. I honestly don’t know what to do one part of me does want to do as you suggest and the part is thinking don’t rock the boat and just pay the token payments. I’ve just about got over and accepted my health issues it’s taken a long time and the last thing I want is these people hounding me day and night like they did before. 

One more question which I’m not sure about is are they not supposed to send statements or some sort of correspondence regularly? All my other creditors sent regular statements, reduced offers of settlements etc

It is a requirement of the consumer credit act yes, you have had no contact in 10 years with whoever you are paying.

I understand your reluctance to rock the boat, but to my mind, your just wasting money, i suspect this account went delinquent years ago, and has probebly been written off or forgotten about, as no debt collector would be quiet for that amount of time.

My gut instinct, if you stop paying, is that`s the last you will hear from them.

Thanks again I think your right I maybe just throwing money away and it’s been over 10 years. Let’s see how it plays out I’ll update if I hear anything.