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i am going to try and make a long story short!! in 2000 i took a £5000 loan from hsbc for a car. for the first 2 years i made the repayments no problem then i began working extra hours to gain day release from work to go to uni for my degree - so with the increase in childcare fees and rent etc etc my loan repayment was my single biggest expense and i knew i was going to head into trouble so before this happened i contacted the bank to see if i could get the loan extended by either 12 or 24 months to reduce payments - they immediately said no and wouldnt budge!! they said the only thing i could have was a managed loan but that they would put my credit card and overdraft in with the loan!! i argued that there was no need for this as there were no problems with either and it was just the loan payment i wanted to reduce but they would not have it any other way - so i had no choice but to agree to avoid default on the loan - so ten years to 2010 and i had paid almost £12000 back on this managed loan - i contact the bank and said i had paid far in excess of the original amount owed and far more on the credit card/overdraft had i of been paying them individually and hadnt they had enough money out of me! they ignored everything i had to say got default notices and threatening phone calls so i went to the FOS (what a mistake that was) after 3 years they only latched onto the PPI part of the claim and ignored me when i said hsbc taking the money for the managed loan was illegal as they did not issue me with a new set of terms and conditions for the managed loan - hsbc admitted to the FOS that they had no terms but were sure they would of sent me some and i would of signed them - i did point out that i had the original loan agreement and therefore if they had of sent me a new set i would of held onto them also!! in the end the FOS decided they did not have the legal knowledge to settle the issue over the non-exsisting terms but that they would get the bank to give me just under £2000 for the PPI but the bank would be allowed to take the outstanding balance of the loan - just under £1300 and send me the rest and the bank were paragons of virtue because they would be willing to take off my credit file all reference to this debt!!! i wrote a very angry letter to the FOS rejecting the offer as the bank have had enough money from me which they were not legally allowed to have in the first place!! so now to the crux of the matter - i have now recieved a letter from DG solicitors saying i have to contact them to avoid legal action - i want to write to them and tell them they will not get a penny from me and as hsbc broke the consumer credit act by not issuing me with terms and conditions and that i want all my money back and to take me to court as it will save me the trouble of issuing proceedings against hsbc - should i write such a letter? or should there be another avenue i should take? i would appreciate any advice before i answer these people
i am going to try and make a long story short!! in 2000 i took a £5000 loan from hsbc for a car. for the first 2 years i made the repayments no problem then i began working extra hours to gain day release from work to go to uni for my degree - so with the increase in childcare fees and rent etc etc my loan repayment was my single biggest expense and i knew i was going to head into trouble so before this happened i contacted the bank to see if i could get the loan extended by either 12 or 24 months to reduce payments - they immediately said no and wouldnt budge!! they said the only thing i could have was a managed loan but that they would put my credit card and overdraft in with the loan!! i argued that there was no need for this as there were no problems with either and it was just the loan payment i wanted to reduce but they would not have it any other way - so i had no choice but to agree to avoid default on the loan - so ten years to 2010 and i had paid almost £12000 back on this managed loan - i contact the bank and said i had paid far in excess of the original amount owed and far more on the credit card/overdraft had i of been paying them individually and hadnt they had enough money out of me! they ignored everything i had to say got default notices and threatening phone calls so i went to the FOS (what a mistake that was) after 3 years they only latched onto the PPI part of the claim and ignored me when i said hsbc taking the money for the managed loan was illegal as they did not issue me with a new set of terms and conditions for the managed loan - hsbc admitted to the FOS that they had no terms but were sure they would of sent me some and i would of signed them - i did point out that i had the original loan agreement and therefore if they had of sent me a new set i would of held onto them also!! in the end the FOS decided they did not have the legal knowledge to settle the issue over the non-exsisting terms but that they would get the bank to give me just under £2000 for the PPI but the bank would be allowed to take the outstanding balance of the loan - just under £1300 and send me the rest and the bank were paragons of virtue because they would be willing to take off my credit file all reference to this debt!!! i wrote a very angry letter to the FOS rejecting the offer as the bank have had enough money from me which they were not legally allowed to have in the first place!! so now to the crux of the matter - i have now recieved a letter from DG solicitors saying i have to contact them to avoid legal action - i want to write to them and tell them they will not get a penny from me and as hsbc broke the consumer credit act by not issuing me with terms and conditions and that i want all my money back and to take me to court as it will save me the trouble of issuing proceedings against hsbc - should i write such a letter? or should there be another avenue i should take? i would appreciate any advice before i answer these people
Re: HSBC DG Solicitors
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