Bank have lost my debt

izzied · 7 November 2012 at 11:36AM

Hi,

I have been trying for over a year now to pay off an outstanding amount to my bank which was owed from a joint account closed in 2010.

I have been repeatedly ringing the debt collectors to pay it off, but they will not speak to me because the debt (they say) is only in my husbands name.

I rang my bank today once again to see if I could sort this out because it is affecting my ability to gain credit etc and apart from thsi my credit file is totally clean!!!

I was told AGAIN that I have to ring the debt collectors as it is nothing to do with the bank anymore. So I rang said debt colletion company AGAIN and was told that they no longer have the debt, it was passed back t the bank in April 2011 and they still cant disuss with me because its not in my name!!!! argggggggg

So.....rang bank again (slightly miffed now) to be told that they actually have no idea where the debt is and who I need to pay!!!! So a formal complaint has been lodged and they will 'look into it'...........which may take up to 3 months......

Mean while I am still unable to get different mortgages to help me reduce / rearrange my financial outgoings which means I am dipping into an unargreed overdraft every month which in turn costs me more money with guess who.....yep the same bank!!!! argggggg

What should I do please??

Help!!!!!

Atidi · 7 November 2012 at 1:05PM

izzied wrote: »

Hi,

I have been trying for over a year now to pay off an outstanding amount to my bank which was owed from a joint account closed in 2010.

I have been repeatedly ringing the debt collectors to pay it off, but they will not speak to me because the debt (they say) is only in my husbands name.

I rang my bank today once again to see if I could sort this out because it is affecting my ability to gain credit etc and apart from thsi my credit file is totally clean!!!

I was told AGAIN that I have to ring the debt collectors as it is nothing to do with the bank anymore. So I rang said debt colletion company AGAIN and was told that they no longer have the debt, it was passed back t the bank in April 2011 and they still cant disuss with me because its not in my name!!!! argggggggg

So.....rang bank again (slightly miffed now) to be told that they actually have no idea where the debt is and who I need to pay!!!! So a formal complaint has been lodged and they will 'look into it'...........which may take up to 3 months......

Mean while I am still unable to get different mortgages to help me reduce / rearrange my financial outgoings which means I am dipping into an unargreed overdraft every month which in turn costs me more money with guess who.....yep the same bank!!!! argggggg

What should I do please??

Help!!!!!

Hi izzied, I hope I can help you

I'm not sure how you managed to close an account that still had an outstanding balance owing. :huh:

However, you seem to acknowledge an amount was owing, and the fact the debt was transferred to a debt collector also suggests that the amount was not repaid according to the original agreement.

Hence why there is now a blot on your credit history, and one which will stay there for 6 years even if you now repay the amount owed.

If the creditor cannot now prove the debt, then they will have no opportunity to recover it in law :beer:

I suggest you use the money that you would otherwise use to pay off the debt to help keep you out of the red with your current account

maninthestreet · 7 November 2012 at 1:20PM

Must be a first - a creditor denying a debt owed to them exists.....
Has your husband tried speaking to the debt collectors??

meer53 · 7 November 2012 at 1:32PM

Why isn't your husband sorting this out ? it would probably be a lot quicker.

izzied · 7 November 2012 at 1:56PM

Hi peeps.

Bank froze account due to seperation. Then passed it onto collectors when they were not supposed to.

I am not currently in the red in my current account. If I had the pennies by the end of the month to keep my bank up to date I wouldn't go into overdraft would I lol..............I only dip into overdraft by a few pence a month for which they charge me a whopping £50!!!

My husband can not sort out the debt either because it was passed back to the bank who don't know who we need to pay.

So stuck!!!

izzied · 7 November 2012 at 2:10PM

Must be a first - a creditor denying a debt owed to them exists.....

They have said they don't who we are supposed to pay, or where it is...................not the same as does't exist....is it?

Or should I take it as that? - I wish!!! hahaa

CAB_Swansea_Bay_representative · 9 November 2012 at 6:53PM

Hi izzied, thank you for your query regarding bank lost my debt
It sounds like a very frustrating situation and I think you have done exactly the right thing by putting in a complaint to the bank and I would suggest that you write to them asking them to deal with the complaint as a matter of urgency due to the effect it is having on your credit rating and ability to get a mortgage. If they do not respond after 8 weeks you can take the complaint to the Financial Ombudsman Service to deal with. In the meantime I would suggest you get a copy of your credit reference and if it shows this account as a joint debt and you can add a notice of correction stating the debt is subject to a dispute at present. For more information about making a complaint to a bank and Financial Ombudsman Service go to https://www.adviceguide.org.uk.
Hope this is of assistance.

Fire_Fox · 10 November 2012 at 8:28PM

Have you written to the bank, followed their complaints procedure?

Bank have lost my debt

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