HSBC Problem - can someone please help?

Runnybabbit

Hi All, Is there anyone who can maybe give me some advice please.

Over the past 4 weeks I have on a weekly basis contacted by bankers to inform them that I have applied for a 2nd mortgage to pay back the debt. As of todays date (16th May) the money was attempted to be transferred into the account at HSBC (HSBC have been informed of this date for the past 4 weeks) only to find that the account was closed yesterday (15th May) and the debt passed onto a DCA!, I was attempting to avoid this at all costs as I wanted to avoid having a bad credit rating. Obviously HSBC have not listened to a word I've told them, although they agreed to allow me until 16th May for payment to be made.

Does anyone have any advice please, can they do this? bearing in mind that they agreed to this proposal at the outset, I have the proof too.

As a naughty gesture to HSBC I feel like offering a settlement figure to see what they say, can I do this?

I'd appreciate any help you can give me please. Thanks.

sallyx

Dam HSBC
I would say that if its been passed onto a DCA then there is no going back. I would wait for the DCA to contact you, offer them 40% of the original debt and see if they accept? You will have the default on your credit file anyway and the sooner you clear the debt the sooner it will fall off (6 years).
You could argue it out with HSBC but in my experience they won't listen and tell you there is nothing they can do.

Maybe someone else has more experience and could offer you better advice?

RAS

Runny, who is the DCA.

Most banks do not sell on debt, but pass it onto their on-house DCA, so it is retrievable.

Runnybabbit

Thanks for your advice, HSBC have said they have referred it to their in-house DCA, but have not said which one or given me a phone number. Apparently I have to wait to be contacted by them, should I call them?. I have read quite a bit in these forums and they say never speak to DCA's. Should I only correspond by letter when they do contact me, most of the time HSBC just phone me to harrass me, why they never read the information on the screen is beyond me, I end up repeating myself over and over again, like I am now!!!!!. LOL. Do you think there may be a way to still repay the debt, albeit at a reduced rate now, and still not have a bad credit score?.