HFC Bank: What Happened and How to Check an Old Account

A debt letter can be worrying. Keep the correspondence, check the creditor and balance, and note any response deadline. Free independent debt advice is available.

In this article, we’ll:

•  Explain what happened to HFC Bank Ltd.
•  Help you find out if you still owe money to HFC Bank Ltd.
•  Discuss what to do if you can’t afford to repay your debts.
•  Talk about how to manage your debts.
•  Guide you on where to get professional help.

If dealing with debt is affecting your wellbeing, seek support and tell the firm about any communication or accessibility needs. A debt adviser can help you decide what to do next.

Our team has faced these same issues. So, we’re here to help you make sense of things. Our aim is to give you the information you need to deal with this situation in the best way possible. 

What Happened to HFC Bank Ltd?

HFC Bank Limited entered members’ voluntary liquidation on 13 January 2017. Companies House records show it was dissolved following liquidation on 29 April 2026.

For legacy-account correspondence, check HSBC’s current HFC Bank information page or the verified administrator of your particular account. An old liquidator’s address is not a general payment route.

Historical company number: 01117305.

HSBC’s HFC customer-services number: 0370 0100453. Confirm the current contact route through HSBC’s official website.

HSBC publishes [email protected] for other HFC legacy queries, including charging orders.

Current account information: HSBC’s official HFC Bank information page at https://www.hsbc.co.uk/hfc-bank/.

HFC Bank was a lender. It should not be described as a bailiff or as several invented companies ending in “Ltd. Limited” or “Debt Collection Agency”. Check the actual creditor and collector on your documents.

» TAKE ACTION NOW: Fill out the short debt form

Do I Still Owe Money to Them?

A lender’s liquidation does not by itself cancel a borrower’s debt. Check the current creditor, balance and any legal defence before making payment.

Members’ voluntary liquidation is a process used for a solvent company. It is not evidence that HFC had failed or was about to become insolvent.

Account transfers can happen before or independently of liquidation. The actual transfer documents and the bank’s official account information matter.

HSBC states that in February 2013 HFC agreed to sell part of its secured-loan portfolio to Sancopia Portfolios No 1 SARL, with remaining accounts transferred to HSBC Bank plc.

HSBC states that those remaining accounts are now held by HSBC UK Bank plc. An individual account may subsequently have changed owner or administrator; verify its present status rather than assuming all former HFC debts go to one of two payees.

Typical Debt Collection Process

When the debt transfer occurs, it’s common for the new creditors to initiate contact by calling or sending letters. This is part of the debt collection process.

Here’s a quick table that will help you better understand the debt collector timeline. For more information, be sure to check out our specialized guide.

The creditor, or solicitors acting for it, may bring a court claim if entitled to do so. Only the court can issue a judgment. A claim form is not a CCJ: respond within its deadline, as judgment can be entered in default without a hearing. Contact or a payment offer does not guarantee that a creditor will not bring a claim.

What Do I Do If I Can’t Afford to Repay My Debts?

If you cannot afford the claimed payments, obtain a complete account statement and free independent advice before agreeing to a new arrangement.

If that’s your case, and you can’t afford to repay your unsecured debts, you may need to consider a debt solution.

There are several solutions for unaffordable debts in the UK, so we recommend speaking to a debt charity to get some free financial advice. Their advisors will be able to walk you through your options in detail and find the best debt solution for your finances.

We have linked some charities that offer these services for free in the next section.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal insolvency arrangement managed by an insolvency practitioner. Your proposal sets out payments, any assets involved and fees. Once approved, it binds the creditors and debts covered by it and restricts recovery action; it is not a blanket ban on necessary correspondence.

Many IVAs involve payments for five or six years, but the agreed term varies. Qualifying unpaid debt is normally released only on successful completion. An IVA affects your credit record, may involve assets or home equity, and can fail if its terms are not met.

IVA suitability depends on your debts, affordable contributions or available assets, fees and creditor approval. There is no universal rule that you must owe several thousand pounds to more than one creditor. Get independent debt advice and compare other options before agreeing to an IVA.

Trust Deed

IVAs are not available in Scotland. A Scottish money adviser can compare a protected trust deed, the Debt Arrangement Scheme, sequestration and informal arrangements; a trust deed is not compulsory.

A protected trust deed is a Scottish insolvency arrangement, usually lasting at least four years of contributions. It can discharge qualifying unpaid debt on successful completion, but fees apply and your home or other assets may be at risk. Covered creditors cannot pursue payment outside it, but can still send required documents.

Debt Relief Order (DRO)

In England and Wales, a DRO may suit an eligible non-homeowner with low surplus income, limited assets and qualifying debts within the £50,000 limit. Detailed income, asset, vehicle and residence rules apply. An approved debt adviser checks eligibility and submits the application to the Insolvency Service.

During the usual 12-month DRO period, recovery of listed qualifying debts is restricted and you generally do not pay those debts. Ongoing bills and excluded debts still need attention. Creditors may send statements and other permitted correspondence.

A DRO normally lasts 12 months. If it remains in force, the qualifying debts listed in it are normally discharged at the end. You must report relevant changes and continue paying ongoing bills and excluded debts, such as court fines and student loans.

Bankruptcy

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration

Scotland’s Minimal Asset Process is a form of bankruptcy for people meeting specific debt, income and asset conditions. It has consequences for credit and finances and should be assessed with an approved money adviser. See related guidance, Minimal Asset Process guide.

References

1. Indebted Debt Collection Survey
2. StepChange Personal Debt Statistics in Scotland 2022