HSBC and MSC

[Ash4096]

Back in 2010 after a serious accident I became disabled and was no longer able to work due to various spinal issues.

I fell in debt and one of the debtors was HSBC.

They referred the debt to MSC and I have been paying token payments ever since.

 

However I have never since received anything in terms of amount remaining, what I have paid or any correspondence at all.

I have tried calling the numbers that are on the initial agreement but the number is now invalid.

 

I can’t find no details of who to contact and have also written to an address in Birmingham and no response from that either.

I’m scared to stop making payments just in case of any further issues.

 

Does anyone know of any idea who I may contact or where I can find their contact details. 
 

Thank you 

[dx100uk]

MSC were hsbc's fake in house DCA.

they were disbanded many many years ago.

but your payment will still be going to HSBC off the balance.

 

what is the debt type please?

 

tell us the history of your banking with HSBC too, as they were well know for making people consolidate all your debts to them by making you take out 'managed loan' then dumping that balance back into your bank Account as an inflated OD balance and charging £100's in unlawful penalty fees.

 

dx

 

[Ash4096]

Hi DX
 

thank you for your reply. 
the original debt was an overdraft and I can’t remember the exact name of the loan.

The loan was like a CC. I had a limit of £7500 and was able to transfer moment into my account as and when needed then just paid the full amount when a statement was sent. I’m not sure but it may have been a bridging loan.

 

The bank account was opened in 1998 and the loan was taken out in 2002/3.

My accident was in 2009 and was unable to make any payments and token payments were set up in October 2010. Since then I have never received any statements or letter but I have been making token payments. 

they were not the only debtors in total there were 8 debtors.

4 were sent to Cabot, 2 to capquest which were all written off and now just have these 2 with MCS. 

[dx100uk]

can't hurt you to simply stop these silly payments that are running the SB date to infinity.

 

have you moved since taking this out or during your token payments period and not informed HSBC of your new address?

 

dx

 

[Ash4096]

Hi DX

 

no I haven’t moved still at the same address since the initial accident.

The last correspondence was in 2010 confirming the set up of the token payments.

Since then I’ve just made a payment of £1 to each account.

 

If I stop the payments I’m just worried HSBC will be back in my case again.

I’ve been debt free since the others were written off and no CC’s or loans ever since and want to keep it that way.

 

To be honest mentally I don’t want to be going through all the headache again.

It’s unlikely I’ll ever work again.

 

Thankfully the others were written Off due to health reasons.

Thank you again
 

[dx100uk]

would have been defaulted years ago so can never comeback to your credit file and hurt you.

 

i would stop all payments and send HSDC an SAr

get everything they hold on you

 

i suspect that you've been the victim of the managed loan syndrome which 100'000 of people were under HSBC's many guises like 1st direct etc etc.

 

they can't hurt you now.

 

use our enhanced google search box and type in managed loan

and get reading up.

 

dx

 

[Ash4096]

Thanks DX really appreciate your help