HFC Claim

deanh1 · 30 October 2012 at 10:54PM

I have filed a claim with HFC relating to a personal loan from 2001.

The loan was for five years, however in 2006 i entered a DMP with Payplan. The repayment amount included PPI and so as Payplan distributed the funds, a shar of the reduced payment would also have included PPI.

There is still an outstanding balance for under £30, and then the whole loan is paid off including PPI. This account is no longer being handled by HFC and is being dealt with by Clarity Credit Management.

Another creditor in my DMP is HSBC.

As my loan was with HFC prior to being taken over by HSBC and the debt is being handled by neither HFC or HSBC, is it right that any refund i am awarded will come direct to me rather than being kept by HSBC to offset any debt i have with them?

I have submitted a copy of the signed PPI and loan agreements and have received notification that my claim will be dealt with in 6 weeks with a decision in 8 weeks.

di3004 · 30 October 2012 at 11:24PM

Hi there

I do not know for sure the correct answer on this, but I it seems that with some if debt is sold on, where the original business have nothing more to do with it, then the refund has been refunded directly to the customer.

But as said, I am not absolutely certain and I'm sure someone will know the answer on this, and will hopefully respond soon.

The best of luck.

funlovingprincess · 31 October 2012 at 2:18PM

deanh1 wrote: »

I have filed a claim with HFC relating to a personal loan from 2001.

The loan was for five years, however in 2006 i entered a DMP with Payplan. The repayment amount included PPI and so as Payplan distributed the funds, a shar of the reduced payment would also have included PPI.

There is still an outstanding balance for under £30, and then the whole loan is paid off including PPI. This account is no longer being handled by HFC and is being dealt with by Clarity Credit Management.

Another creditor in my DMP is HSBC.

As my loan was with HFC prior to being taken over by HSBC and the debt is being handled by neither HFC or HSBC, is it right that any refund i am awarded will come direct to me rather than being kept by HSBC to offset any debt i have with them?

I have submitted a copy of the signed PPI and loan agreements and have received notification that my claim will be dealt with in 6 weeks with a decision in 8 weeks.

Hi there - I filed a claim against HFC which they agreed to pay out on, they automatically deducted what was still outstanding of my debt, paid it off and then transferred the remaining money to a bank account of my choice

Hope this helps!

deanh1 · 31 October 2012 at 11:27PM

Thanks for the reply but it doesn't really answer my question. The debt remaining is £30 which is with clarity who bought the whole debt from Hfc which would include a percentage for ppi, so If they want to clear the thirty quid that's fine, but still don't know the answer whether because they are now owned by HSBC,they will pay it off my HSBC debt too!!

If that makes sense