Can an old debtor chase after a ppi claim?

shayshay

Hi, had three smallish loans back in 2004. Not massive amounts, was a TV, fridge etc.

Been doing the PPI claim and it’s come back successful for £300 from HSBC who have taken in all HFC. They are requesting proof of ID including address etc. This has all come from the Claims Guys.

When I moved back down south in 2005 many of my debtors followed however HFC didn’t and as a result never did chase for the rest of the money so go
over the enforceable six year period, however if I provide them with my details am I subject to them trying to chase again because I have instigated contact (I haven’t as of yet, it’s been the claims company)?

[Deleted User]

They can't chase for the debt, but they will offset any redress against the amount outstanding.

You will need to pay the claims company out of your own pocket - about £75.  Now the complaint has been upheld, it'll be too late to pull out.

[Deleted User]

shayshay said:When I moved back down south in 2005 many of my debtors followed however HFC didn’t and as a result never did chase for the rest of the money so goover the enforceable six year period, however if I provide them with my details am I subject to them trying to chase again because I have instigated contact (I haven’t as of yet, it’s been the claims company)?

They won't "chase" you for the debt, but any PPI redress is likely to be offset against this unpaid debt. If the amount owed exceeds or equals  that being refunded you'll receive nothing at all  I'm afraid. There is no "enforceable six year period" for this since they won't have to take you to court to retrieve the monies. If the amount owed is less than that being refunded then you'll receive the difference. 

In addition, did you inform the Claim Company that you had outstanding debt with this lender? If not, you could end up receiving nothing personally other than a bill from the Company for your "successful" complaint. 

shayshay

Wasn’t even one of the companies that I was aware they were chasing. Swings and roundabouts. Thank you.