PPI Claim with HSBC

ramsdenrik

A bit of background I was in an IVA many moons ago way back in 2004 which I ended after just a year.

I recently made a claim with HSBC for PPI reclaim they have replied back stating that:

Our records show that you have entered into and IVA.

Whilst you have given consent, without reviewing the terms of the IVA, we have no way of ascertaining you have given/ assigned your right to complain to the IP and whether the IP is aware of your claim.

In the circumstances we cannot release information unless we receive appropriate written confirmation from the IP that they are aware of the claim.

Obviously a stall tactic and I am not put off that easily.

I have spoken to Freeman Jones who supplied the IVA and they have said I need no permission as it ended so long ago and even if I had gone full term after 6 years they would have nothing to do with the claim anyway, they kindly offered to send Certificate of completion and said to forward to HSBC and that would be enough to get the claim rolling again.

Can anyone enlighten me as to if this is going to be the end of the battle or will HSBC hit back with something else?

Any advice would be much appreciated.

This is what I have planned to send back.

Thank you for your letter dated XXX August 2013, You have informed me that you cannot continue my claim as you are not sure if I have received permission from my IP.

I was only in my IVA for a short period of time and it was completed early.

I have spoken to the Freeman Jones today who supplied my IVA and they are unsure why you feel I would need their permission to pursue the claim as clearly 6 years has passed since the IVA was started anyway so there would be no way the IVA was live.

They have stated that I would not need to receive permission from them to pursue a claim, however they have kindly offered to provide the letter of completion to forward onto you and have advised this is all I would need to continue my claim with HSBC.


Again any input into the return letter would be appreciated.

dunstonh

Obviously a stall tactic and I am not put off that easily.

Its not. It is the correct action by them as you may not be legally entitled to the proceeds. Some IVAs pass the rights to the IP.

Can anyone enlighten me as to if this is going to be the end of the battle or will HSBC hit back with something else?

If the IP confirms they have no right over the proceeds then it should come to you unless there was a debt left unpaid with HSBC as part of the settlement of the IP. In these cases, they can use the capital element of the redress payment against the amount written off. Some banks will do this. Some banks wont.

I have spoken to the Freeman Jones today who supplied my IVA and they are unsure why you feel I would need their permission to pursue the claim as clearly 6 years has passed since the IVA was started anyway so there would be no way the IVA was live.

If Freeman Jones really said that then it says more about their inability to know what they are doing than HSBC. I suggest you dont put that in your letter as HSBC are correct in checking.

ramsdenrik

dunstonh wrote: »

Its not. It is the correct action by them as you may not be legally entitled to the proceeds. Some IVAs pass the rights to the IP.



If the IP confirms they have no right over the proceeds then it should come to you unless there was a debt left unpaid with HSBC as part of the settlement of the IP. In these cases, they can use the capital element of the redress payment against the amount written off. Some banks will do this. Some banks wont.



If Freeman Jones really said that then it says more about their inability to know what they are doing than HSBC. I suggest you dont put that in your letter as HSBC are correct in checking.

Thanks for your reply, the IVA finished in late 2005 so 8 years have passed since it ended, HSBC also sold the debt onto Max Recovery during the application for the IVA.

-taff

definitely sold it on or passed it ot them for recovery? It makes a difference.

dunstonh

If it was sold on then its unlikely HSBC would offset it. However, are you sure it was sold on. Many lenders employ third party collection companies to do the collection work but do not actually sell the debt on. In those cases, they can offset.

ramsdenrik

dunstonh wrote: »

If it was sold on then its unlikely HSBC would offset it. However, are you sure it was sold on. Many lenders employ third party collection companies to do the collection work but do not actually sell the debt on. In those cases, they can offset.

I am pretty sure it was sold on it was a long time ago it didn't appear as HSBC on my credit file as a default it was Max Recovery, do you guys think sending in the letter that Freeman Jones have provided is enough, I am claiming for 3 accounts one was included in the IVA and 2 are older accounts that have nothing to do with the IVA.