Ppi can the bank keep my claim money?

[sarahjohn12]

Can the bank keep my PPI money?? *** WON ****

Hi,

 

I have made a successful claim against HSBC group for PPI charged to me on three loans

 

Loan 1 was settled (PPI Charged)

Loan 2 was settled (PPI Charged)

Loan 3 fell into arrears and still has money outstanding but is being paid off monthly via a debt agency im sure the debt was sold on ( not sure how to find this out for definate )

 

the company i used are stating in their letter tht if i agree to the settlement of 6149 that it will be taken off the the outstanding balance from loan 3 , so i presume that they are saying that the ppi money owed to me for loan 1 and 2 will not be paid to me and in fact ppi money owed for loans 1, 2 and 3 will go towards paying off the oustanding debt of Loan 3

 

Is this correct?

Loans 1 and 2 were seperate to loan 3..

 

Slightly confused but advise would be appreciated.

 

Thanks

[ims21]

They can only set off against notified arrears or, if the account has been terminated and a debt remains then yes they can set off.

 

You say you made successful claims and then go on to say that you used a claims company?

 

If the latter you will of course have the claims company fee to pay as well.

[sarahjohn12]

They can only set off against notified arrears or, if the account has been terminated and a debt remains then yes they can set off.

 

You say you made successful claims and then go on to say that you used a claims company?

 

If the latter you will of course have the claims company fee to pay as well.[/Quote]

 

 

NOTIFIED ARREARS? what do you mean by this, Sorry im kinda really confused with it all. i don't think im in any arrears as a direct debit comes out of my bank every month to pay it and has done for the past i dont no how many years. ( i havent received any statements from hsbc for well over 4 years )

and yes i used a claim company but have not accepted what the bank as offered them for me yet and im under the understandng that i wont get charged unless i accept.

can i dispute the set off ??

Edited November 8, 2012 by ims21

[ims21]

Loan 3 is in arrears and is with a Debt Collection Agency so it is pretty much certain that it is in arrears as far as the original agreement is concerned.

 

The fact that you are making regular payments to a DCA doesn't alter this but does throw up some more questions (see below)

 

The only way of disputing the set off will be if you are in severe financial hardship.

 

With the DCA bit, which DCA is it?

 

Have they bought the debt or are they collecting on behalf of the lender?

 

Your credit file should show you how the owner of the debt is. Can you check it please....Noddle is free

 

https://www.noddle.co.uk/

[sarahjohn12]

it actually ssays im paying HSBC the debt so i suppose i cannot dispute the set off and if i accept the offer id in addition have to pay the 2k to the company ive gone through

[ims21]

So HSBC still own it.

 

Have you received statements which are showing that the amount due is reducing?

 

Which DCA have you been paying?

[sarahjohn12]

No i haven't received a statement for a very long time. i just seen on that website u gave me that the debt is reducing. and i have been paying a company called moorcroft.

[ims21]

I would be demanding an up to date statement from the original creditor to ensure that the payments you have been making have actually been going to the account.

 

I would also be looking to drop Moorcroft from the equation, cancel the direct debt to them and pay the original creditor direct.

[sarahjohn12]

i didnt think i was allowed to do that! but will surely look into it. sp what would your advice be to do with th ppi? i suppose there is nothing i can do if they want to pay it against my oustanding debt ?

 

Would i be able to make a claim again but cut put the middle man. I wouldnt mind so much and would accept the 6k if i then didnt have to pay an additional 2k to someone else.

[ims21]

First thing I would do is check the T&Cs of the claims company. It may be that you are liable for their fee if they get you an offer but you reject it.

 

Yes you are under no obligation to pay a DCA if they do not own the debt....always pay the creditor themselves.

 

You might take the view that at least the £6k is reducing your indebtedness.

 

Having said that, if these loans defaulted then there may be some unlawful charges on there as well which you can claim back ( and if so do it yourself this time )

[sarahjohn12]

there is no charge unless i accept the offer. which i dont think i will be as i most certinaly dont have the 2k to pay them. What would you class as finacial hardship in order to be able to disputing the ''setoff' and would i be able to reclaim but do it myself this time ?

[ims21]

To claim hardship you would need to set out your financial situation to the lender so that they can see what the nature of the hardship is. If they refuse your claim for hardship then you can ask fos to have a look at it.

 

I would suggest there is a problem with claiming again yourself. This current complaint has a time limit of six months to refer it to fos and so I would think that any new claim that you might put in yourself in that time period will trip the lender's alarm. They will then automatically see this as the same claim which has been made by the claims company.

 

I think this may be very difficult for you to "evade" the claims company.

 

Shame that you decided to use one in the first place really.

[sarahjohn12]

who is the FOS ? and would the claims company im dealing with now set out my finacial situation to the lender or is this something i need to do myself ? sorry for so many questions

[ims21]

fos is the Financial Ombudsman Service.

 

The CLaims Company may be able to help you....give them a try....might as well get them to work for their money.