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Hi,

 

I'm hoping someone can help me.

 

I took out a personal loan with HFC Bank in 2004 which after a year or so was passed to their debt collection agents and was settled in full around the end of 2009.

 

I have recently submitted a PPI claim to them to which they responded within 2 weeks stating they agree that I was mis-sold PPI and was due compensation

 

however according to their records I was still in arrears with them for almost the full loan amount

and in turn only offering me a very small settlement figure which would be used as redress against the arrears.

 

After obtaining a 'Settlement of Account' letter from their debt collection agents and forwarding this on to HFC Bank

I have now received a letter stating that they accept that I am not in arrears

 

however the settlement figure has remained the same despite their acceptance that the loan has been paid off in full.

 

Are they correct to offer me the same amount as before but this time as a payment rather then a redress

or should the settlement figure now take into account the full amount of what I have paid?

 

Many thanks in advance.

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typical ruddy HFC

 

they cant offset anyway

 

unless they have been regularly sending NOSIN letters

 

[notice of sums in arrears] they are stuffed.

as well as it prob being statute barred anyhow

 

have you got ALL thestatements?

 

did you do an FOS CQ?

 

did you do a spreadsheet to workout what you SHOLD be gettingback?

 

do not trust HFC.

 

they will fleece you blind

 

dx


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Hi dx,

 

Unfortunately I do not have any documents/statements etc.

i sent off the PPI claim in hope rather then expectation but was surprised to hear anything back.

 

I guess my questions boils down to whether despite me settling the loan in full with a debt collection agency

should HFC recalculate my PPI award to take this into account as the current offer only takes into account

what was paid directly to them before the debt company got involved.

 

As previously mentioned they stated I was in arrears however I now have a letter from them stating the balance is now £0

 

Thanks

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You say "passed to their debt collection agents".

 

Was the debt sold on or were the agents only collecting on behalf of HFC?

 

Your credit file should tell you the owner of the debt. If it was settled in 2009 it should still appear on there.

 

Who was the DCA?

 

What you should get back is the entire premium, any interest charges as a result of the PPI and 8% interest on each payment actually made running from the date of payment right up to the date of settlement.

 

If it were me I would SAR HFC for everything on the account including a copy of the agreement. That information will help you do some calculations.

 

As dx says, you need to watch HFC.


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