Hi, Hope someone can help here? My background is simple. I am on a DMP with Payplan repaying £44k of debt. £2900 relates to HSBC debt which is now been sold on to Metropolitan Collection Services. The original debt was near £4k In 2009 I wrote to HSBC asking for a refund of bank charges. Between 03/04/08 and 06/03/09 they charged me a total 0f £650 in bank charges. I was going through severe financial difficulty. My wife fell pregnant and with complications couldnt work, then fell quickly pregnant again and could claim any maternity allowance. I racked up these charges and a large overdraft with HSBC which was rolled up into a managed loan. Interest was 16.9%! But i was desperate so went with it. Some time later (2011) i entered my DMP and now pay the agency through paypln. Whilst clearing out some old paperwork, I stumbled across a letter detailing the charges and that HSBC wouldnt pursue this further. THis was dated 19th June 2009. At the time I didnt pursue it any further because of all my other debt issues. I am now wanting to take this up - I have succesful PPI claims across a number of my debts which is reducing the outstanding debt balance significantly (approx £5k to come off!) - With interst the £650 would be around £900 - a third of my outstanding balance. I cant find anything anywhere on how to pursue this further - its clear i was in financial hardship but at the time they didnt want to listen. Can someone please please please help? If needed i can upload the letter Edit - would the money be paid to me as the accounts close and with an agency if succesful?

thanks all - your advice so far has been great. Does anyone else have any experience of Welcome sending a secured loan to a DCA?

so - what happens if they dont and are in default of my request?

Thanks for the advice andy. I will look to clarify this ASAP and come back with the details. In the meantime, does anybody have any experience of Welcome sending an account to 3rd party collection? and if so what happens? In a way i am inclined to let a 3rd party have the account as hopefully it will freeze interest/charges and let me find a more suitable repayment plan whilst also reducing the debt with payments made, instead of paying and the balance increasing!

I am unsure if it is regulated by CCA 1974 - I cannot find my t+c's for the original loan. I guess i would need to request a copy of the original agreement - Is there a letter template for this? Re Land Registery - all i have is what i received at the time i took the loan out in 2008 which is the charge against our property. Nothing since.Welcome have not pursued judgement atm - I have been told that they 'no longer pursue legal action' and 'dont repossess' homes and that they are looking at forwarding accounts to debt collectors to call in the o/s balances. My worrys is could a debt collection agency force me out of my home?

Hi Sorry to be pushy but has anyone any advise they could offer?

Will do - any assistance is greatly appreciated!

Daz - been in your position previously and in short - not a chance. Nobody appears to be lending mortages unless you are A1 with at least 15% deposit. Its killing the market!

Hi AllI am new here so your advice is much appreciated. I have read various other peoples threads and have picked up some useful advise along the way but your expertise here will be much appreciated.Firstly, to give the background. I have £45k in unsecured debt relating to numerous payday loans companies, cheque cashing places, pawnbrokers etc (approx 100 creditors) and am paying this back via a DMP through Payplan @ £185. I have two secured loans (Welcome Finance - more later, 1st Stop Finance) and a Mortgage with Birmingham Midshires.My finances havent been great since 2008 - my wife has had two bad pregnancies meaning she cant work and is having a similar issue with a 3rd pregnancny now - hence the payday loan debt in the past (gotta admit it was foolish!)I have re-negotiated our mortage with BM to interest only for 12 months after struggling to pay it at full price (£845/month) and they have consolidated my arrears. 1st Stop have suprisingly been helpful and re-wrote my loan over an extra 3 years saving me £150/month in the short term although it will cost me more to pay off over the long term. My car finance ends in 12 months and i am up to date with that so have no issues ther.Then there is Welcome Finance. And Ahmed in particular. Up until Jan 2011 i paid my secured loan for 3 years without missing a payment. Then i explained my situation and debts then and agreed payments would reduced to £90/month from £198. Obviously interest was not froze and arrears and charges accruedOver the last few months i have missed several payments. (3 out of the last 7) Welcome are now harrasing me at work to start making full payments. They no i cant afford this. I have sent them an income and expenditure detailing this. They say the money i pay to payplan should be paid to them. I have explained that all others have co-operated and i am barely paying my unsecuured creditors £1/month. They have now threatened to pass this to collectors. This is unknown territory for me as with the loan being secured i am unsure as to what they will do and would appreciate advise. I have been told several times verbally by Ahmed that they will not re-pocess peoples homes as they are basically up sh*t creek. But what will they do? Part of me thinks let it go to collectors and see if i can negotiate a new lower repayment plan but with it being secured i am scared the collectors will go for my home, not that there is any equity in it. I am refusing to send further income/expenditures in as requested as they already have it. The position as of today is that i need to provide a full breakdown of all my income/expenditure + proofs + statements by next week or £3k in interest and charges are added to my £10k loan making that loan balance £15k despite payment £7200 over 3 years! ! ! ! !I am unsure if i took PPI as it was done through an agent. I also have Land Registery documents from Welcome so know they have a charge over the property.Your help is much appreciated.Thanks