Enforcing overdraft

[1fifthavenue]

Hi all just after some advice about possible outcomes.

I have an old overdraft with HSBC (defaulted October 2009 so not quite statute barred). This debt has been sold to MKDP

In the past I have requested a copy of an agreement (although now understand that CCA doesn't apply to overdrafts)

A large proportion of the debt (1000 out of 1500) is due to interest and charges. I have been in financial hardship and was in difficult circumstances at the time.

I've recently asked for copies of the terms and conditions relating to the account as I dispute the charges have been applied correctly or fairly. HSBC sent a final position letter. I've asked MKDP for the Ts and Cs and they've said they will go back to HSBC - this was in MAY/JUNE! and I have still heard nothing.

Should I bother to chase?
The debt will be statute barred in 6 weeks, is that enough time for MKDP to bring about a claim?
Can they put through a claim without the Ts and Cs? If there is no 'contract' and no one can provide me with the terms applicable to the account, how can they say the charges are fair, accurate and payable.

Any advice would be greatly appreciated.

Thanks
Muriel

[FlamingParrot]

Re: Enforcing overdraft

Welcome aboard

Hi all just after some advice about possible outcomes.

I have an old overdraft with HSBC (defaulted October 2009 so not quite statute barred). This debt has been sold to MKDP

In the past I have requested a copy of an agreement (although now understand that CCA doesn't apply to overdrafts)

A large proportion of the debt (1000 out of 1500) is due to interest and charges. I have been in financial hardship and was in difficult circumstances at the time.

I've recently asked for copies of the terms and conditions relating to the account as I dispute the charges have been applied correctly or fairly. HSBC sent a final position letter. I've asked MKDP for the Ts and Cs and they've said they will go back to HSBC - this was in MAY/JUNE! and I have still heard nothing.

MKDP wouldn't have any paperwork so they'd have to go back to HSBC who would be in no immediate hurry to find the paperwork, having sold the account and written it off for tax purposes.

Should I bother to chase?

Not unless you hear from them first.

The debt will be statute barred in 6 weeks, is that enough time for MKDP to bring about a claim?

How can you be so sure? If you are going by the date on your credit files, you should be aware that it's not when the clock starts running. With an overdraft, the date would be when HSBC issued a final demand recalling the overdraft, provided no further payments or written acknowledgments were made after that.

Can they put through a claim without the Ts and Cs? If there is no 'contract' and no one can provide me with the terms applicable to the account, how can they say the charges are fair, accurate and payable.

Any advice would be greatly appreciated.

They can issue a claim without anything, there's no requirement to attach any documents to claims issued electronically via the bulk centre, and many creditors issue claims hoping to obtain default judgment when the defendant fails to respond to the claim. :mad2: :mad2: :mad2:

Having said that, once a claim is issued you have the right to ask for the documents they intend to rely on and if they can't supply them, they may end up having to discontinue the claim. ray: ray: ray:

MKDP are not amongst the best organised debt purchasers: https://consumercreditlitigationandd...lp-lose-again/ :grin: :grin: :grin:

[1fifthavenue]

Re: Enforcing overdraft

Welcome aboard


MKDP wouldn't have any paperwork so they'd have to go back to HSBC who would be in no immediate hurry to find the paperwork, having sold the account and written it off for tax purposes.

Not unless you hear from them first.

How can you be so sure? If you are going by the date on your credit files, you should be aware that it's not when the clock starts running. With an overdraft, the date would be when HSBC issued a final demand recalling the overdraft, provided no further payments or written acknowledgments were made after that.
They can issue a claim without anything, there's no requirement to attach any documents to claims issued electronically via the bulk centre, and many creditors issue claims hoping to obtain default judgment when the defendant fails to respond to the claim. :mad2: :mad2: :mad2:

Having said that, once a claim is issued you have the right to ask for the documents they intend to rely on and if they can't supply them, they may end up having to discontinue the claim. ray: ray: ray:

MKDP are not amongst the best organised debt purchasers: https://consumercreditlitigationandd...lp-lose-again/ :grin: :grin: :grin:

Thanks for the reply

6 weeks is the date of default on my credit file, however there have been no payments made to the account since January 6 years ago, and the only transactions were failed DD's and charges and interest being applied.

Fingers crossed they may leave me alone!

Would it be worth pursuing a hardship claim for the charges or would this be an admission of the debt?

[FlamingParrot]

Re: Enforcing overdraft

Thanks for the reply

6 weeks is the date of default on my credit file, however there have been no payments made to the account since January 6 years ago, and the only transactions were failed DD's and charges and interest being applied.

You mean January 2009? Failed transactions and charges do not reset the clock. With overdrafts it's a little tricky to establish the exact date unless you had a copy of the final demand issued by the bank as O/Ds are payable on demand. With small O/Ds the banks may not recall them for a long time, however, if a default was recorded on your credit file it can be assumed it would have been recalled before they did.

Fingers crossed they may leave me alone!

Would it be worth pursuing a hardship claim for the charges or would this be an admission of the debt?

I'd rather leave the whole thing slip quietly into a statute-barred coma.

[pawlik]

Re: Enforcing overdraft

Hi all just after some advice about possible outcomes.

I have an old overdraft with HSBC (defaulted October 2009 so not quite statute barred). This debt has been sold to MKDP

In the past I have requested a copy of an agreement (although now understand that CCA doesn't apply to overdrafts)

A large proportion of the debt (1000 out of 1500) is due to interest and charges. I have been in financial hardship and was in difficult circumstances at the time.

I've recently asked for copies of the terms and conditions relating to the account as I dispute the charges have been applied correctly or fairly. HSBC sent a final position letter. I've asked MKDP for the Ts and Cs and they've said they will go back to HSBC - this was in MAY/JUNE! and I have still heard nothing.

Should I bother to chase?
The debt will be statute barred in 6 weeks, is that enough time for MKDP to bring about a claim?
Can they put through a claim without the Ts and Cs? If there is no 'contract' and no one can provide me with the terms applicable to the account, how can they say the charges are fair, accurate and payable.

Any advice would be greatly appreciated.

Thanks
Muriel

Hi Muriel

Have you managed to get HSBC response regarding T&C's in writing? I have made a request over the telephone after doing a SAR but there seems to be a reluctance to provide this response in writing....

[1fifthavenue]

Re: Enforcing overdraft

Hi Muriel

Have you managed to get HSBC response regarding T&C's in writing? I have made a request over the telephone after doing a SAR but there seems to be a reluctance to provide this response in writing....

Hi

Yes I have, they have provided it to me as part of their response that they do not keep copies and I should have kept them on the basis that they would have been provided at the time!

[Huxie]

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