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Bank agrees PPI
Delboy10
Posts: 1 Newbie
I had a letter today from HSBC informing me that they have upheld my complaint and they intend to refund me the PPI that I had paid with interest.
However they have also informed me that I have an outstanding debt with them dating back ten years.
This is the first that I have heard of this debt.
In the the letter they state that I have the option to use the remaining redress to reduce this.
Attached to the letter is a form to fill in. Which gives me the option to tick a box giving permission to use my refund to reduce the outstanding debt, or provision for my banking details for them to make payment to me.
My question is what should I do?
However they have also informed me that I have an outstanding debt with them dating back ten years.
This is the first that I have heard of this debt.
In the the letter they state that I have the option to use the remaining redress to reduce this.
Attached to the letter is a form to fill in. Which gives me the option to tick a box giving permission to use my refund to reduce the outstanding debt, or provision for my banking details for them to make payment to me.
My question is what should I do?
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Comments
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I'd be surprised if the debt wasn't offset but maybe there is some reason like the debt was sold on and no claw back available so they are offering OP the chance to repay the money they didn't pay back 10 years ago in the hope they agree.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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