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Hello

I have had a letter from payment services bureau (HSBC credit card)stating that following internal re-organisation the day to day management of my account would be handled by them. They have accepted the DMP proposal, does this mean they are a sub division of HSBC or has the debt been sold to them. If it is the latter then would the 40p in the pound min devidend adopted by HSBC no longer be 'set in stone'?

Thanks in advance

LILY

Lily

I suspect that this is just the collections arm of HSBC, but it would do no harm to ring them and ask. If the debt has been sold, ask them whether they have a minimum dividend criteria in IVAs.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Melanie

Thank you, I never thought of that, mind you speaking to HSBC comes from the do not enter part of my brain. I will though.

Thanks again

LILY