Urgent Reston/Arrow/HSBC Credit Card

[citiciti]

I have now got a letter from Reston saying
'We act on behalf of Arrow Global who has referred your account to us for legal action. This means that we are instructed to issue court proceedings against you.

The purpose of this letter is to explain the position to you and to suggest a possible way that legal action can be avoided......'

'Our client is to ready to consider repayments by installments blah blah.......'

Facts
Yes I had a HSBC credit card balance of 1800, I kept paying 200 every month for years but mostly interest got deducted as my APR was sky high due to late payments and missed payments etc I think. Last payment was Jan or Feb-2014, after which I didn't have anything to pay and stopped. I then started getting letters from Arrow that I kept ignoring as I was out of work.
This loan or credit does not show on my Experian credit report surprisingly.

Last week I got this letter from Reston but am worried I don't have money to repay and really cant have a CCJ for various reasons. Last date mentioned on letter is today to take action.

I was going to call them but then last night found these forums and am still trying to understand what to do.

Please can you suggest what letter should I send to whom HSBC\Reston\Arrow? Should I send prove it or CCA or something else. Sorry the jargons are bit too much for me right now as I am still trying to understand everything.

[Debt Camel]

Re: Urgent Reston/Arrow/HSBC Credit Card

When did you open the account?

Did you have your credit limit increased after you had missed a lot of payments?

Are you currently working?

Do you have a lot of other debts?

[warwick65]

Re: Urgent Reston/Arrow/HSBC Credit Card

Send a CCA request , Royal mail signed for post with the £1 statutory fee , either cheque or postal order.
If it is a cheque , does someone else have a chequebook who could write one for you
The CCA request can be signed digitally ie a fancy font on your PC

After reading a post on here today i would be loathed to sign anything at all in my real handwriting

http://legalbeagles.info/forums/show...y-of-Agreement
That is for the CCA request.

Does the letter say they will issue a court claim within a set time period, I suspect not from what you wrote but just checking as if they have you need to alter tack slightly.

BTW I always keep copies of all letters and cheques /postal orders as well as any Royal mail reference slips and print out proof of deliveries
I have a whole drawer of a filing cabinet at home full but they have come in very useful

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

When did you open the account?

Did you have your credit limit increased after you had missed a lot of payments?

Are you currently working?

Do you have a lot of other debts?

I don't remember about credit limit but its possible.

No I do contracting and currently nothing going on since sep-16, market isn't very good so hardly making ends meet.

I have one other debt but no one is chasing for it as yet.

- - - Updated - - -

Send a CCA request , Royal mail signed for post with the £1 statutory fee , either cheque or postal order.
If it is a cheque , does someone else have a chequebook who could write one for you
The CCA request can be signed digitally ie a fancy font on your PC

After reading a post on here today i would be loathed to sign anything at all in my real handwriting

http://legalbeagles.info/forums/show...y-of-Agreement
That is for the CCA request.

Does the letter say they will issue a court claim within a set time period, I suspect not from what you wrote but just checking as if they have you need to alter tack slightly.

BTW I always keep copies of all letters and cheques /postal orders as well as any Royal mail reference slips and print out proof of deliveries
I have a whole drawer of a filing cabinet at home full but they have come in very useful

I have typed the CCA and will do a recorded delivery, however I don't understand this this about signing digitally, how do we do that, please help.

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

Send a CCA request , Royal mail signed for post with the £1 statutory fee , either cheque or postal order.
If it is a cheque , does someone else have a chequebook who could write one for you
The CCA request can be signed digitally ie a fancy font on your PC

After reading a post on here today i would be loathed to sign anything at all in my real handwriting

http://legalbeagles.info/forums/show...y-of-Agreement
That is for the CCA request.

Does the letter say they will issue a court claim within a set time period, I suspect not from what you wrote but just checking as if they have you need to alter tack slightly.

BTW I always keep copies of all letters and cheques /postal orders as well as any Royal mail reference slips and print out proof of deliveries
I have a whole drawer of a filing cabinet at home full but they have come in very useful

Only place the letter mentions court is this sentence

'We act on behalf of Arrow Global who has referred your account to us for legal action. This means that we are instructed to issue court proceedings against you.'
'The Purpose of this letter is to explain the position to you and to suggest a possible way that legal action can be avoided.'

It also says 'our client may be prepared to accept a short settlement of the balance dependent on your circumstances. If you think your financial circumstances do allow to pay a substantial lump sum then please contact us.'

- - - Updated - - -

This credit card is from 2004, however I paid it all up in 2008 but circumstances changed and I again used the balance in 2010 I think.

[warwick65]

Re: Urgent Reston/Arrow/HSBC Credit Card

Hi

thats good, it doesn't sound like a letter before action but watch out if you get one that has those words or letter of claim in them.

The date of the agreement is good, it doesn't matter if the balance went to 0 every month , its the date of inception that is the important bit


When I say sign digitally i mean use a fancy font and type your name

Warwick

There aren't many fancy fonts on here but on word there are things like

Chalkduster ( it looks quite good when used)

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

Hello,

Thanks warwick65, Thanks for your reply.
My husband was just with Citizens Advice and the lady there just scared us saying we should first call the solicitors and tell them not to go to court just yet or agree a repayment plan with them.
She says once it goes to court that's it and everything gets recorded etc and we would end up paying court costs of both parties. However from what I read even if I went to Court and got a CCJ we can pay that and CCJ wont get recorded.
Please could someone elaborate the worst case scenario if Restons does go to court. We are very worried lot as we just cant have CCJ, we work such that we get vetted and don't want to spoil so much of years hard work.

Thanks

[Diana M]

Re: Urgent Reston/Arrow/HSBC Credit Card

This loan or credit does not show on my Experian credit report

Can you just confirm whether it was a loan or a credit card or did you have both and HSBC amalgamated them before they were sold to Arrow?

The answer to the second part of your question is that the CRA file entry will be removed six years after the Default was registered - that's probably why it's not showing now.

Di

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

Hello Diana,

This is just a credit card balance, we did have the loan but we paid it off at the same time I first paid off full credit card balance, thankfully never took another loan. Unfortunately did use credit card again and used all of the balance. I can confirm I did make payments to HSBC till Jan-14. I might have stopped payment for a while before that but resumed paying untill Jan-14. So not sure about being in default for 6 years.

Thanks,
Citiciti

[Diana M]

Re: Urgent Reston/Arrow/HSBC Credit Card

I can confirm I did make payments to HSBC till Jan-14. I might have stopped payment for a while before that but resumed paying untill Jan-14. So not sure about being in default for 6 years.

If you breach the contract (e.g. don't pay the minimum amount each month) then you can be defaulted even if you go on paying token amounts afterwards. You can only be defaulted once so if you stop paying eventually you don't get defaulted again.

I hope that makes sense.

Di

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

Thanks Di, so does it mean we would be statue barred then and can prove that in court or because we made payments after we reset the date??

[Diana M]

Re: Urgent Reston/Arrow/HSBC Credit Card

No I'm afraid it won't be Statute Barred until January 2020 because your last payment was made in January 2014.

Di

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

Thanks Di, please could you also answer one other Q that came from my discussion with citizens advice bureau. If we do end up in court or end up with CCJ what do we have to do to not declare it in any form that asks about CCJ. My question being to understand worst case scenario. I really can't declare a CCJ in my future jobs and we also plan to buy a house.

[Diana M]

Re: Urgent Reston/Arrow/HSBC Credit Card

My husband was just with Citizens Advice and the lady there just scared us saying we should first call the solicitors and tell them not to go to court just yet or agree a repayment plan with them.
She says once it goes to court that's it and everything gets recorded etc and we would end up paying court costs of both parties. However from what I read even if I went to Court and got a CCJ we can pay that and CCJ wont get recorded.

How much is this debt? You would only have to pay the Claimant's legal costs if you lost the case and the claim had been allocated to the Fast Track (or Multi Track) because the debt is over £10k.

However in theory you would still have 'got' a CCJ even if you subsequently pay it off, so I'm not sure how you would answer any question which asks "have you ever had a CCJ" but if the question is "do you have a CCJ" then the answer could be No if you've satisfied it.

The second part of your post refers to not having a CCJ recorded on your credit file if you pay it. That would only apply in the event a payment for the full amount was made within 28 days of the CCJ.

Di

[citiciti]

Re: Urgent Reston/Arrow/HSBC Credit Card

How much is this debt? You would only have to pay the Claimant's legal costs if you lost the case and the claim had been allocated to the Fast Track (or Multi Track) because the debt is over £10k.

However in theory you would still have 'got' a CCJ even if you subsequently pay it off, so I'm not sure how you would answer any question which asks "have you ever had a CCJ" but if the question is "do you have a CCJ" then the answer could be No if you've satisfied it.

The second part of your post refers to not having a CCJ recorded on your credit file if you pay it. That would only apply in the event a payment for the full amount was made within 28 days of the CCJ.

Di

Debt is for 1800 pounds, if we pay the CCJ in 28 days would that not be taken off CCJ register and hence cant be tracked??? Is claimants legal costs too much usually?