Author Topic: Can anyone point me in the right direction?  (Read 1350 times)

atram

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Can anyone point me in the right direction?
« on: Jan 26, 2012, 05:18:39 PM »
Hi, I am looking for legal debt assistance, but so far am unable to find the right kind of solicitor or company to advise me. [/size]I am currently on a debt management plan, which includes an overdraft on my current account. The bank account was solely in my name for a number of years, however my husbands name was added to the account when he moved to the UK whilst he was setting up his own banking arrangements. When I became in financial difficulty and knew I would need to go on a DMP, I tried to have his name removed from the account. The bank said the only way to remove him was to pay off the overdraft and close the account which I could not do. As a result of this, he now has a terrible credit score as they have marked him as defaulting on this account. He was not credit checked to be added to my account, and this debt was not run up by him, and the overdraft was in fact already at it's limit when he was added to the account. We are now in a position to borrow money from a family member to pay off this debt in full. However I am only willing to do so if the default is completely erased from his credit account. I have spoken to experian who say that I should seek legal advice, as the bank should have let me remove his name from the account at the time I requested to.I have spoken to HSBC who told me to speak to the company who now owns the debt. The other company have said that if we pay the debt off in full then they will inform HSBC, who will mark it as satisfied on the credit report, although the default will still show up. I believe that they have the power to completely erase the default if they want to, at least from my husbands credit file. Is there any solicitors out there that anyone can recommend that can help me negotiate with them? I have made enquiries to my local solicitors and no one seems to deal with this type of issue. Or is there another way I should go about dealing with this?Thanks!

James Falla

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Re: Can anyone point me in the right direction?
« Reply #1 on: Jan 27, 2012, 12:57:50 PM »
Hi there atram
 
Unfortunately by adding your husband's name to the bank account he became liable for the outstanding debt and thus party to its non payment. If this was not properly explained to you by HSBC at the time when you added his name and you wish to complain the best thing to do is rite a formal letter of complain to HSBC. You then need to escalate your complain to the financial ombudsman.
 
In the short term the best thing to do is actually pay off the outstanding debt. Once this is done I am sure HSBC will be more willing to help resolve the problem.
 
 
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Simon Wyllie

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Re: Can anyone point me in the right direction?
« Reply #2 on: Feb 14, 2012, 06:41:27 PM »
Hello atram.
 
I'm afraid I'm not sure that HSBC will choose to remove this default notice, and I doubt that there is much you'll be able to do to force this.
 
By all means consult with a solicitor to clarify your position, but I think this will come down to negotiation with the bank rather than pushing them legally to do it.

James Falla

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Re: Can anyone point me in the right direction?
« Reply #3 on: Feb 15, 2012, 06:39:45 PM »
I agree Simon. But as I said previously I think that HSBC will be unwilling to negotiate unless the outstanding overdraft balance is paid in full and the facility closed.
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