Hsbc has offered £189? On a £5000 loan

Help_hsbc

Hi, I need some advice has anybody got any experience with hsbc. I have a loan of £5000. I'm still paying it I have about £1000 left. I made a claim myself using this website an template letter. I've recieved a measly offer of £189. I'm in arrears with the repayments. And they have offered tht money to the firm collecting the debt. Do I stand a chance of getting any money. Should I appeal to the ombudsman? What should I do any advice will be appreciated.
Many thanks

dunstonh

I've recieved a measly offer of £189. I'm in arrears with the repayments. And they have offered tht money to the firm collecting the debt.

It is probably correct. When the loan defaulted, the PPI premium paid would have been partly refunded for the shortened time of the loan. So, you wouldnt expect a full premium refund as part would already have been.

The bank should confirm the make up of the payment to verify this. (i.e. how much the premium was, how much was refunded previously etc).

Do I stand a chance of getting any money.

No. The lender is allowed to use the redress against any debt which is in arrears, defaulted or had an amount written off.

[Deleted User]

Help_hsbc wrote: »

I'm in arrears with the repayments. And they have offered tht money to the firm collecting the debt. Do I stand a chance of getting any money.

It was always going to be the case that any redress paid would be used by the Bank to offset your arrears.
Sorry, you'll get nothing personally.