Recaliming when the account is with debt collectors

wayned

Hello,

Looking for some advice, I have been notified by a recalaiming agent that they have negotiated £ 5678.00 from HSBC for mis sold PPI. My bank account which was associated with the loan ( HSBC account, HSBC loan ) is currently with DG Solicitors - I hit some money problems due to work circumstances
My agent has confirmed they are sending payment to the acc the PPI is accociated with. Is this right? If so, I will end up with an invoice from the agent of 25% of the value, plus will HSBC take the money and offset it agianst the debt I have with them?Hope this all makes sense, I am just worried that I will have the agents costs and no money to pay them

Wayned

dunstonh

If so, I will end up with an invoice from the agent of 25% of the value, plus will HSBC take the money and offset it agianst the debt I have with them?

That is correct. This is why you must never use a claims company if you are in arrears, defaults or have amounts written off. The bank is allowed to offset the redress payment against those. In the meantime you end up with a bill for a percentage of the redress payment. You can often end up seeing no redress and getting hit for a bill for many thousands of pounds.

Sorry.