Debt written off? & PPI on HSBC credit card

[LondonE3]

Hi

 

new poster and any information is greatly appreciated.

 

Had a credit card debt with HSBC which become statute barred last year.

 

Earlier this year I received a phone call from a collection agency about the debt and after explaining it was statute barred and didn't want to discus it with him he said ok he'll check.

 

A few week later HSBC sent me a statement saying the account balance was now zero so I'd assumed they'd written off the bebt.

 

Today I've received a letter from HSBC stating they have upheld my PPI complaint for mis-selling on the credit card and they would redress the funds to me.

 

My question is

as the last statement said the account balance was zero and there was no mention in the letter about offsetting the money they owe me for any money I did owe them previously - would they still look to not pay the funds directly me?

 

Thanks

[dx100uk]

If they've sold the debt they can't offset

[LondonE3]

Hi

 

has anyone had a PPI redress payment offset?

've just had a complaint upheld and sent off the Payment Instruction form etc.

 

Would the bank tell you in the offer letter they will offset the money or would it go through with processing the payment, withhold the money and then notify me?

I'm keen to know if I'll recieve the funds or if HSBC will offset at the last minute - I have more serious debts I'd like to take care of with the money.

 

The PPI was for an HSBC credit card with an almost 8 year old debt and the last statement I had earlier this year showed balance zero - this was couple of weeks after I'd received a call from a debt collector and told them not to call me as the debt is statue barred.

 

Thanks

[dx100uk]

again it depends upon who now owns the debt

I would suggest that if the original crditors entry on say a cra file or a recent statement stated £0

when you knew there was an outstanding balance

that that indicates the debt has been sold on

hence the call from a no powers DCA

 

 

if that's the case

they cant off set and the PPI must goto you.

if the original creditor still owns the debt then they can offset

but not the 8% stat int part of any refund.

 

 

dx

[LondonE3]

Thanks d

 

I'm prepared for HSBC to take what is owed but you say I should still get the 8% interest?

[renegadeimp]

Before you accept any offer, get all statements and ensure its correct.

[dx100uk]

you need to nail down who owns this debt

[LondonE3]

I'm on it

cheers