HSBC Letter asking about PPI - I am post IVA

Cody

Dear Forum;

I had a lump sum approved and completed last year, for a variety of debts. Now living within my means and debt free!

I recently recieved a letter from HSBC with a questionnaire about PPI i took with them in the past. The letter acknowledges I have had (or am in) an IVA.

Basically I am wondering if anybody has recieved one of these letters before?

many thanks

Cody

UpToMyNeckInIt

Hi Cody,

Can you elaborate?

HSBC are notoriously hostile towards IVA customers past or present.

Are they implying that the will not pay you your refund because of the IVA, or insisting that it be paid into the IVA (despite the fact that this is concluded)?

Legal opinion on this subject is mixed to put it politely, some experts reckon that once you have your completion cert, you are entitled to keep any ppi windfall. Worryingly, some think that ppi is treated as a 'pre-existing' asset (albeit one that maybe you didn't think you had), and is there for claiming for the IVA pot, even after the CC has been issued.

Sadly, there seems to be no consistency between IVA providers, which hardly helps.

On that basis, I suggest speaking to your ex-IVA provider asking 'hypothetically' about the ppi situation.

Best of luck, and let us know how it goes.

Findlay1

I think I have received the same letter. It comes with a questionnaire and postage-paid envelope - it looks like they are willing to pay out at last.

Trouble is, I do not trust HSBC. At all. & would be grateful if someone could confirm that all is kosher.

I took out a large loan with HSBC in the bad old days, over the phone. It nearly destroyed me - I made it through thanks to this website (and that knighthood for Martin Lewis is long overdue); all is paid off now and I am an awful lot wiser.

I cancelled PPI half-way through and tried, unsuccessfully, to reclaim the remainder. But all this is years ago - so why this letter now? Any pending legal actions?

Thanks a lot
Findlay

bandicoot421

Hi Cody, see my thread IVA & PPI from 3/04/13, i sent off forms from Banking obudsman using Lloyds site, they are all the same, if you have settled your IVA claim the PPI using the above form, not there questionaire, YOU HAVE SETTLED THE IVA WITH HSBC, THEY HAVE ACCEPTED, believe me i have now started a 'shotgun' approach to PPI and sent the same forms to all banking co i had loans, cards, account with, running at 5,250K in payback with £5 outlay in postage fees to date!

Cody

Hi Bandicoot;

I responded with their form, answering the basic questions, a lot of them 'can't remember'. I will look for your thread now.

For everyones information, the letter mentioned that it knew I was in an IVA and also had taken out PPI in the past. I am not sure if they realise (or that dept within hsbc realises) that my IVA is fully completed and exited, since it was a lump sum IVA. There was no mention or suggestion that they would expect any PPI to be returned to them...and surly that is just shifting money from one part of an organisation to another anyway?

Cody

Cody

Hi Bandicoot, I can' t find your thread, the link did not work. Could you tell me its title please?

Cody