PPI IVA (HSBC) Help

ladshead

Hi there,

In a nutshell I was discharged from my IVA in February. I had a large HSBC loan which was included in the IVA. I tried to reclaim PPI and they told me to get stuffed basically.

However, I had 3 earlier loans with HSBC that also included PPI but which were NOT included in the IVA.

Am I able to make a successful claim for these other previous loans?

Thoughts and experience appreciated x

[Deleted User]

ladshead wrote: »

Am I able to make a successful claim for these other previous loans?

You can make a mis-selling complaint about the PPI, but if successful the Bank still have the right to off set any redress against any amounts written off as part of your IVA.
In what manner did HSBC decline your earlier complaint? Did they just reject on the basis it was not mis-sold or did they off set so you received nothing personally?

ladshead

They declined it on the basis that I had put the loan into the IVA arrangement. The earlier three loans that I have not yet complained about were not put into the IVA though, they were repaid.

[Deleted User]

Complain then, if you have valid complaint reasons. What do you have to lose?

-taff

They can still use the redress any any amount that they wrote off your IVA loan though

[Deleted User]

-taff wrote: »

They can still use the redress any any amount that they wrote off your IVA loan though

Yes, just as I said at post#2:p

ladshead

I want to add that HSBC sold the debt to Max Recovery and I have written confirmation of this. I spoke to Max Recovery today who said that they wouldn't touch any PPI it either goes to my IVA supervisor (who have sent the ombudsman a letter of no further interest) or it comes to me

magpiecottage

The fact that you are in an IVA should not prevent you from complaining about PPI - even if it covered the same loan. HSBC also got told by FOS that there were circumstances in which a set off was not permitted earlier this year.

Therefore suggest you complain to FOS about the rejected complaint and that you make separate complaints about the other loans.

ladshead

I have complained to the ombudsman and they asked for a letter from my IVA supervisor to say they were no longer interested in my financial affairs which I have given them. The debt was also sold to Max Recovery. Can HSBC give the PPI to them?

magpiecottage

ladshead wrote: »

I have complained to the ombudsman and they asked for a letter from my IVA supervisor to say they were no longer interested in my financial affairs which I have given them. The debt was also sold to Max Recovery. Can HSBC give the PPI to them?

Probably not. See here.


Even if they can, that would at least help to get the DCA off your back.

I would go back to FOS and ask for a decision.