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Hsbc Credit Card

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  • Hsbc Credit Card

    Hi,
    I have an HSBC Credit card with a balance of 4000 that i have had for 2 years.
    I have had the account for about 9 years.
    I am unable to make any more payments than the minimun at present due to my circumstances.

    I have been reading on here and i am a bit confused as to weather the agreement is enforcable but not sure even what this means.

    I assume that as the money is owed it must be paid back. Is this the case?

    Could i try and claim any interest payments back?

    Any advice is much appreciated.

    Rich.

  • #2
    Re: Hsbc Credit Card

    Hi Rich, If your card agreement is that old it may be unenforcable. The best thing to do is if you have a copy post it on here and people will advise you. if you dont, send your credit card provider a CCA request it will cost you 1. They have to send you the paperwork within a prescribed time, if they dont you can put the account into dispute, you dont have to pay them until they do. I have done this and havent paid them since. In my case they have admitted in writing on 2 seperate occasions that they cant find it. If they then take me to court they must produce it infront of the judge. As they cant its basically in limbo and they cant make you pay, although it doesnt stop them trying. Have a read of all the posts on here, there is a wealth of knowledge available for free, you will learn all the legal loopholes that the banks dont want you to know. You can use this against them for all the stunts they have pulled that we all are now learning that they have done against us. Its payback time!!!!!

    Comment


    • #3
      Re: Hsbc Credit Card

      Were you sold PPI with it?

      Comment


      • #4
        Re: Hsbc Credit Card

        Originally posted by zentrix9 View Post
        Hi Rich, If your card agreement is that old it may be unenforcable. The best thing to do is if you have a copy post it on here and people will advise you. if you dont, send your credit card provider a CCA request it will cost you 1. They have to send you the paperwork within a prescribed time, if they dont you can put the account into dispute, you dont have to pay them until they do. I have done this and havent paid them since. In my case they have admitted in writing on 2 seperate occasions that they cant find it. If they then take me to court they must produce it infront of the judge. As they cant its basically in limbo and they cant make you pay, although it doesnt stop them trying. Have a read of all the posts on here, there is a wealth of knowledge available for free, you will learn all the legal loopholes that the banks dont want you to know. You can use this against them for all the stunts they have pulled that we all are now learning that they have done against us. Its payback time!!!!!
        Well I'm sorry Zentrix but I have to disagree. In light of recent cases there is no guarantee that they would have to produce a true copy, more than one case recently has been allowed to rely on a reconstructed copy.
        Unenforceability SHOULD NOT be used as a Get Out of Debt Free card and we shouldn't be encouraging people to view it as one.
        If a debt is unenforceable it doesn't make it go away, just that it cannot be enforced, for the time being.
        If you stop paying you will no doubt be defaulted and then possibly (more than likely) end up in Court. This will result in a CCJ and could end up with costs awarded against you and possibly even a charging order on your home, in short you could end up in a far worse position.

        Far better to contact your Credit Card provider and explain that you are in financial difficulty and try to come to an arrangement for lower payments and possibly freeze any interest for the time being.
        Also, as has been suggested, if PPI is included then you may be able to reclaim this which would reduce the balance.

        Might be worthwhile looking at your complete situation, fill in the IE sheet, this will give you a clearer picture of where you are financially. If you have other debts it may be worth looking at a DMP (Debt Management Plan) with someone like CCCS or Payplan who do not charge.
        Is no longer here

        Comment


        • #5
          Re: Hsbc Credit Card

          Originally posted by WendyB View Post
          Well I'm sorry Zentrix but I have to disagree. In light of recent cases there is no guarantee that they would have to produce a true copy, more than one case recently has been allowed to rely on a reconstructed copy.
          Whilst zentrix's post is a little misleading in parts, I would like you to direct me to cases where recons have been used to enforce agreements properly challenged under s61.
          They were out to get me!! But now it's too late!!

          Comment


          • #6
            Re: Hsbc Credit Card

            Sound advice above, I have been to court for none-payment of credit card not a nice situation at all.

            unenforceability merely means that they cannot take you to court there is nothing stopping them to still chase the debt via DCA's which no doubt will be a bad experience in its self.

            If this does end up in court any judge will be far kinder to your situation if you was paying something and took advice and/or payment plan via cccs or payplan.

            As they say it is far better to mitigate than litigate

            Good Luck
            If you think nobody cares if you're alive, try missing a couple of payments.

            sigpic

            Comment


            • #7
              Re: Hsbc Credit Card

              Have a look a DifferentJudge's thread, not sure what Section it was though.

              And it should also be remembered that unenforceability an only be used as a defence, which by it's very nature means that you have to be taken to Court and therefore run the risk of losing.

              If people have pots of money.nothing to lose and are willing to be guinea pigs then fine. Otherwise I don't think we should encourage it, especially as LIPs. (Litigants In Person, Rich)

              Purely my personal opinion based on the fact that principles don't pay bills and martyrs are usually dead.
              Is no longer here

              Comment


              • #8
                Re: Hsbc Credit Card

                Wendy B, I am not saying unenforcability should be used as a get out of free card.
                The credit consumer act states that all forms have to be set out in a prescribed way to be legal, are you saying that the banks are allowed to not comply with the act and we should still pay them when they cut corners to suit themselves? The advice I gave as I stated was in my case (which is working for me) I also advised to read other posts on here. I know it wont make the debt go away either.
                I personally contacted all my creditors before I put any accounts into dispute, and guess what, they didnt want to know! So now I play them at their game, within the law set out by the consumer credit act.
                Now after some time HSBC have offered to reduce my balance by 50%, methinks that they know that they are onto a losing battle, they dont offer that much just out of good will.
                Dont give them a breakdown of your income and outcome, only the judge has a legal right to do that.
                Court and CCJ can be a long time down the road as well and debt collectors use those as scare tactics to make you pay.
                My advise again is look on here at all the posts and make up your own mind. Everybodys situation is different, I personally can put up with letters and phonecalls and they wont get a penny from me. Its gonna be the other way round. In a fairy tale world the Banks would do it all properly and forums wouldnt be needed, but in real life they dont do it to the rules because they think they are above them and thats why we have need of these forums!

                Comment


                • #9
                  Re: Hsbc Credit Card

                  Well that told me didn't it.

                  I know Court and CCJ can be a long time down the road, but then paying off costs of 6k+ if you lose could take a hell of a long time too. And sometimes N1s are issued at the drop of a hat, depending who the creditor is.

                  You're right, everyone should make their own mind up but the pitfalls should be pointed out on forums too.
                  Is no longer here

                  Comment


                  • #10
                    Re: Hsbc Credit Card

                    I can see what you are getting at, but they still have to produce the original in court or the judge will dismiss the case. If they can produce the original it still has to be an executed agreement as described in the consumer credit act. The judge should adhere to this and not have his own view on it, thats up to the high court to address.

                    Comment


                    • #11
                      Re: Hsbc Credit Card

                      Yes but that's just it, they are supposed to produce the original in Court, but people have lost cases recently where a recon has been allowed in Court and the case wasn't dismissed. Wrong, yes, but it happened nonetheless.

                      Sorry I can't quote you the cases as I am crap at remembering them, but I'm sure someone will be able to find them.
                      Is no longer here

                      Comment

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