Laddie18 & the saga of the managed loan

[laddie18]

Hi Everyone,

 

I have had a managed loan ith HSBC for the last few years. Due to wife loosing job, baby been born, mortgage going up etc i fell behind to the tune of 6 months payments. The bank charges, due to the loan not being paid are £193 and i owe a total of £1781.

I contacted the bank on June 10th and spoke to a line manager who agreed to park the account and would accept £45 per month for 3 months.

I was called by an advisor on July 03rd who could not find any record of the call - unfortunatley she couldnt do anything about it but would get someone to call me back from the managed loan department - they did on July 10th!

The guy that called on July 10th (obviously new, obviously reading from a script!) went through an income / expenditure form and concluded that i couldnt afford anything and the best thing was that the HSBC made me insolvent!! I asked to speak to a line manager (David) who apologised and agreed to the £45 per month payments again for the next 3 months.

I received a letter on the 15th acknowledging the call and saying if the payments were not satisfied further action would be taken - i have not missed a payement since the beginning of June (3 x £45 payments - original loan £30 per month).

Imagine my suprise on 08th August when i received two letters for the HSBC DEMANDING repayment. the first for the bank account £193 giving me 7 days to pay in full. The next letter for the bank account £193 and the managed loan £1588 giving me 28 days to pay in full (which one do i believe?)

 

I spoke to them again today and they have advised there is nothing they can do, even though i have a letter acknowledging the agreement! and they are going to take me to court.

 

Does anyone have any advice as to what i do next? i have told them i will carry on paying the £45 per month.

 

Thanks in advance:cry:

[freakyleaky]

Hi Laddie. If I were you I would write to them explaining that you had an agreement to pay £45 per month and you have stuck to that agreement and would like to continue with it. Enclose a copy of the agreement letter.

I can't see why it would be in their interest to take you to court and make you insolvent rather than receive the £45 PM that you have offered.

[laddie18]

Thanks freakyleaky,

 

I have decided to go and see my local bank manager so that i can put my points across to him. if i get no joy i will write a letter to the complaints dept at the HSBC and forward my complaint on to the the financial ombudsman.

 

Laddie

[johnnymitch]

Hi laddie,

 

Just a word of advice if I may - if you go and see the Bank Manager only take a copy of the agreement with you - that way you'll have the original safe to produce in court if need be. I would also take a notebook and write down any points that are discussed along with the outcome. That will also come in handy for production to FOS ,FSA, etc.........

 

If I'm preaching to the converted then my apologies, laddie

 

Best of luck

Let us know how you get on, if you will........

johnny

[freakyleaky]

Good luck Laddie and let us know how you get on.

 

(Johnny, where is the castleman lately??)

[johnnymitch]

(Johnny, where is the castleman lately??)

 

I think he must be off swanning on holiday freaky, - but could certainly use him - things are hotting up around here.......LOL!

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