outstanding debt with HSBC

[stigweazel]

Hello.

Back in 1998 i took out a small loan with HSBC and due to unforseen circumstances i lost my job and home and few a few years was made homless. I stayed with relatives abroad and came back to England in 2003.

I have just received a letter from a debt collector service saying they are acting on behalf of HSBC to recover the debt to their client.

I was told that after a period of seven years that the debt is written off, is this true?

i have had no contact with the bank sincw then untill this letter i received from the collectors.

Any advise on this matter will be gratefuly received.

Regards Dave

[princess81]

Hi, debts dont get written off but if you have made no payments and no contact with the creditor and they have made no contact with you for 6 years (since last payment or contact not from the date of the loan) they are banned from chasing you, but if you act on any letters or phone calls etc the debt can become active again and they can start to chase you. My advise is to ignore this letter take a note of the return address on the back of the envelope and if you get anymore letters like this write not at the address and post it back. If you need any more info I am happy to help.

[factor-fiction]

But you do owe the money don't you?
If someone borrowed money off you then disappeared fora few years would you just smile and say" oh well, never mind"? Don't think so.