Creditreform and HSBC

[wonderingwhatsnext]

I unfortunately went into default on an unsecured HSBC loan with a balance a bit over £10k. I've now received a formal payment summons from a Creditreform branch in the country I live. I was kind of expecting them to catch up with me eventually, but what's got me puzzled is that the payment demand is "only" for £500 plus accrued interest. That's not even enough to cover the payments I've missed since I went into default. Has anyone experienced something similar?

[cerberusalert]

Moved to The Overseas Debt Forum.

[cerberusalert]

Have a read of; http://www.consumeractiongroup.co.uk/forum/overseas-debt/250889-can-i-sued-overseas.html

[wonderingwhatsnext]

Thanks for the information.

The thing that actually has me puzzled is that they're demanding payment for a fragment of the actual debt. Just seems strange they're not requesting payment for the full amount since that's what was demanded by HSBC and the UK DCAs who were trying to collect before it was passed to a local agency. Has anyone experienced anything similar?

[palomino]

I'm speculating here, not knowing which country you're in.

 

Perhaps they're trying to establish a legal liability before going for the jugular.

[cerberusalert]

There's been cases of this here in the UK & it seems as if they're trying to recoup what they paid for the debt and collection fees.

 

As you will have read in the link I gave, they cannot obtain a CCJ against you in the UK if you are not resident & they would find it too costly to try and pursue in the land of Toblerone, even more so because your agreement is subject to CCA 1974 and therefore UK jurisdiction.