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Refund from HSBC being used to reduce my mortgage can they do that??
Jaydavies42
Posts: 4 Newbie
Hi all
Yes won my case but HSBC have decided to reduce my mortgage arrears with them. I heard of setting a side rule but can they do this with my refund?
Yes won my case but HSBC have decided to reduce my mortgage arrears with them. I heard of setting a side rule but can they do this with my refund?
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Comments
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If you are in arrears, defaulted or had amounts written off then the lender can use any redress against your debt.
So, the answer is yes. They can.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Why would you not want them to?0
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Would prefer to choose how I spent my money not dictated to by a bank that mis sold ppi to me0
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Great, stay in mortgage arrears then. that'll show em!0
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Would prefer to choose how I spent my money not dictated to by a bank that mis sold ppi to me
If you had paid the debt as you agreed to then you would have got the refund. Problem is that you havent paid them. So, they dont have to pay you directly but use it against the debt.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Isn't it obvious, _Andy_? You know the old saying, better to have your house repossessed, but have some money that you never really missed in the bank...0
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Point taken guys but almost caught up with the arrears now with repayment plan both sides were happy with, still this should clear it and them-some!0
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