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CJC_3 · 12 May 2005 at 6:37PM

Hi,

Can Anybody Help ?

I Had A Credit Card With Hsbc When I Was 19 I Also Had One With Monument ( Monument I Still Have ). Iam Soon To Be 24.

My Performance On Both Card Was The Same I Made 2 Late Payments. As I Came Out Of Work. I Failed To Inform The Companies The First Time I Missed But Did The Second Time.
On Both Cards I Paid Card Protection. But Hsbc Sent Me To The Debt Collectors And Told Me That The Card Protection Did Not Cover Me As I Still Live With Parents !!

I Know A Default Stays An Your Scoring For 5 Years But Was Hsbc Able To Do This When The Small Print Did Not Explain That I Would Not Be Covered As I Lived With My Parents.

I Asked For The Payment Protection Payments That I Had Previously Made To Be Refunded But Was Not !!

Its Really Anoying Me Now As I Try To Move On And Get Credit For Balance Transfer And This Is Stoping Me !!

Thanks

Cjc

Turning_into_scrooge · 12 May 2005 at 6:58PM

When i was a student about 7 years ago i had an insurance policy sold to me by one of the high street banks that was technically illegal. I showed this to a financial adviser who told me that in order to get the money i had paid refunded to quote the words 'i have been financially disadvantaged" it worked they basically panicked and refunded every penny within 5 days. I wouldn't give up keep pushing and seek advise from CAB too

Iona_Penny · 12 May 2005 at 11:31PM

I think you need to explain a bit more. Two late payments would show up as this on your credit file but would not ( to my knowledge and personal experience ) invoke debt collectors being involved. If you had two cards that you stopped making payments to then that is a different situatuion.

What is your current situation? are you now working and making effort to pay this; I feel that any redress you get over the selling of the insurance protection should be a bonus. If you have default payments or a CCJ against you it will stay on your file for 6 years.

CJC_3 · 15 May 2005 at 11:52PM

I have cleared both of the debts in the same year I was defaulted. I was only defaulted on the HSBC credit card. I am now working and still use the Monument credit card with a credit limit which was increased from £500 to £750 to £1000, I currently owe £780 on the card.
I believe my credit scoring must be improving as the limit on this card was raised, but I just dont get why monument did not send me to the debt collectors when my performance on both cards was the same I only missed 2 consecutive payments on both and contacted the card issuers on the second missed payment. I feel HSBC were unfair especially as I was paying payment protection !!
I now struggle to get new credit which I believe this is through the default.

If you know or if anybody else does if they know of any credit card companies that can make your parents liable for the debt because you still live at home ?
As this is what HSBC told me although I paid payment protection in case of lost employment, sickness etc..

Thanks

CJC

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