beneficial finance ppi claims

marco8

Help needed!!!! I have 2 ppi claims with beneficial finance (part of hfc, hsbc group). They have now been overtaken by hsbc. My worry is I currently am in debt with hsbc, will hsbc just use the ppi refunds from my 2 beneficial loans to pay off some of the debt???? Or is this not in there rights as the loans were taken out with beneficial finance

safestored4

At this stage you are pre-supposing that your claim for misselling will be upheld. If it is why should you worry that the refund will be offset against your present debt to HSBC? You surely want to honour this and pay it off.

marco8

It was forced ppi. I can remember been told if I didn't take the ppi I wouldn't get accepted for the loans. And the debt with hsbc was because I was going thru financial difficulties. It was charge upon charge. So I've only been paying back small amounts. I was gonna claim thru a ppi claim company. But found info on loads of people that have had The banks offset there claims. Then left with a large charge off the ppi claim company. Surely tho if my loans were with beneficial, hsbc can't just offset the lot?

marco8

I went with the ppi claim company because I have no documents on either loan. And the ppi company said that would be no problem. But now I'm thinking twice as I don't want to end up oweing the ppi claim company money too. I could of used that money to pay off our credit card and that would of put my family in a better financial standing

amersall

Cancel the claims co, put it in writing, tell them you owe money to the bank and they will take any redress from this debt and make sure they send you acknowledgement in writing, when you get the reply back, contact the bank yourself and ask if they can find you, if they can't, send a Sar request and ask for all info they hold on you, this will cost you £10 so enclose a cheque, they have 40 days to respond to you.
Do not make a claim with the bank until you have the confirmation letter from the claims co to say they are not dealing with your claim anymore.