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Phoenix v HSBC

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  • Phoenix v HSBC

    Ok......we set up payment arrangement via CAB sometime last year @ £1 p/m for this account. We have been paying, maybe not £1 every month but we made it up when I actually remembered to take a trip to paypoint and pay :rolleyes:

    We have probably paid more than we should of.

    Received one envelope this morning containing two letters, one from HSBC and the other from Rockwell. (I like the last bit from Rockwell, preempting my response

    Hsbc states that Phoenix Recoveries (UK) LTD S.a.r.l. (PRUK) have now been assigned this agreement, acting in the name and on behalf of it's compartment Tessera Recoveries on 5/10/07.
    The owner of the debt is now PRUK.
    PRUK have now appointed Rockwell as their serving agent for the account.

    Rockwell say.....we give you notice blah blah, instructed by Phoenix Recoveries, Rockwell will now be administering the account.

    As a result, the FULL AMOUNT is now due on the account.
    Under terms of this assignment and as defined in the DPA 1998, we are now the data controller.
    We have the same rights as HSBC did to give info to credit reference agencies.
    We will comply with any request for a copy of the personal information that is held about you in our records.

    I know that the payment arrangement we set up via CAB was probably for a period of 12 months with a review. I'll dig out the letter.
    But surely they shouldn't just palm it off like this.

    This debt is a legit debt with no charges or other issues, apart from original agreement being an application form, which not an issue.

  • #2
    Re: Phoenix v HSBC

    The Banking Code:

    13.6 We may give information to credit reference agencies
    about the personal debts you owe us if:
    • you have fallen behind with your payments;
    • the amount owed is not in dispute; and
    • you have not made proposals we are satisfied with
    for repaying your debt, following our formal demand.
    The Banking Code Standards Board

    14.7 In other circumstances we may sell your debt. We will always choose reputable firms if we do this. Subscribers should follow a due diligence process when selecting any third party for debt sale. Any new contract entered into after March 2005 with such companies should ensure that the third party will comply with relevant legislation such as the Data Protection Act 1998, the Consumer Credit Act 1974, Office of Fair Trading guidance on debt collection and debt management, the code of the Credit Services Association and the Banking Code’s standards for handling financial difficulties contained in paragraph 14.1 even if the debt purchaser is not a subscriber. Subscribers should inform third parties of any relevant arrangements the customer is complying with at the time the debt is transferred. It is common practice for third parties taking on a debt to request a new statement of income, expenditure and assets to
    understand the customer’s most up-to-date position.
    And some very useful stuff, far too much to post here:



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