HSBC/HFC Bank PPI

Waltzerman

Received a letter from HSBC that claims they have been trying to get in touch with me since 2014. They are offering £4000 for full and final settlement of a PPI mis-selling by HFC Bank. HSBC took over HFC Bank when it went bust.  Letter asked for me to send in documentation and bank details to pay me the compensation. Initially queried it as possible scam but was able to clarify that this was genuine. Documentation sent and acknowledged. 

Original loan was completed some 10 years ago and paid in full. No money received from HSBC so chased to be told money outstanding on loan so used to redress this. Original letter did not state this and also asked for my bank details as well to pay the compensation. On asking they were very sketchy and am not able to get any further information from them.

Has anyone experienced anything like this and could offer any advice?
I have Filed a complaint with the FSO has anyone had any dealings with them all the reviews I have seen seems that they offer a very poor biase service?

As always thanks in advance

Andy

sparelogin

They're correct in applying the redress to the unpaid debt.

FOS won't overturn it.

Waltzerman

Get and understand that but as I said said in original post the loan was paid in full so no unpaid debt ( do wish people would read full post!!!) advice on how to move this forward as HSBC are being very obstructive.

dunstonh

Waltzerman said:

Get and understand that but as I said said in original post the loan was paid in full so no unpaid debt ( do wish people would read full post!!!) advice on how to move this forward as HSBC are being very obstructive.

get and understand that the tone you use in posts will impact the willingness of people to help you.

sparelogin's response was not unreasonable seeing as you said HSBC are using it for outstanding debt.   You just said it was completed and paid in full.  However, that terminology is often used by people who paid reduced amounts in full and final settlement.  In those cases, the amount reduced is still a debt outstanding and allowed to have PPI redress set off against it.

If you contest that the full amount was repaid and no reduction took place then you tell HSBC that.  If you cannot agree then you use the FOS.  Just as you say you are doing.

I have Filed a complaint with the FSO has anyone had any dealings with them all the reviews I have seen seems that they offer a very poor biase service?

It is FOS, not FSO.   The FOS is ever so slightly biased to the consumer as it considers things that the courts would not.  However, apart from that, it is an unbiased arbiter of complaints.     

Looking at reviews is pointless, as it is in so many areas.  High scoring reviews are often placed at or near point of purchase when the person feels good about it but in reality, hasn't had a chance to say whether something is good or not.     Some firms heavily push for positive reviews.    The FOS does not force reviews and has nothing to offer at point of sale.    Most people who get a positive outcome will not leave a review and many that get a negative outcome will only post a negative review.
A lot of people don't seem to understand that the FOS is not a consumer champion that belives the consumer could be wrong.   It is unbiased and looks at the available information and evidence to decide whether a decision is fair or unfair.    It has to deal with consumers trying it on and telling lies and time wasting cases put in by CMCs when there is no hope of success but the consumer is being told by the CMC that they have a good chance. When the FOS rejects, the CMC tells the consumer the big bad FOS is wrong but there is nothing they can do.    On goes a negative review.

sparelogin

I read the full post. You just didn't write it very well, with lots of typos and errors, but I chose not to pull you up on that.

The redress can be used against any outstanding debt with them. So you'll need to ask them for details of which debt they are referring to.

Waltzerman

dunstonh said:

Waltzerman said:

Get and understand that but as I said said in original post the loan was paid in full so no unpaid debt ( do wish people would read full post!!!) advice on how to move this forward as HSBC are being very obstructive.

get and understand that the tone you use in posts will impact the willingness of people to help you.

sparelogin's response was not unreasonable seeing as you said HSBC are using it for outstanding debt.   You just said it was completed and paid in full.  However, that terminology is often used by people who paid reduced amounts in full and final settlement.  In those cases, the amount reduced is still a debt outstanding and allowed to have PPI redress set off against it.

If you contest that the full amount was repaid and no reduction took place then you tell HSBC that.  If you cannot agree then you use the FOS.  Just as you say you are doing.

I have Filed a complaint with the FSO has anyone had any dealings with them all the reviews I have seen seems that they offer a very poor biase service?

It is FOS, not FSO.   The FOS is ever so slightly biased to the consumer as it considers things that the courts would not.  However, apart from that, it is an unbiased arbiter of complaints.     

Looking at reviews is pointless, as it is in so many areas.  High scoring reviews are often placed at or near point of purchase when the person feels good about it but in reality, hasn't had a chance to say whether something is good or not.     Some firms heavily push for positive reviews.    The FOS does not force reviews and has nothing to offer at point of sale.    Most people who get a positive outcome will not leave a review and many that get a negative outcome will only post a negative review.
A lot of people don't seem to understand that the FOS is not a consumer champion that belives the consumer could be wrong.   It is unbiased and looks at the available information and evidence to decide whether a decision is fair or unfair.    It has to deal with consumers trying it on and telling lies and time wasting cases put in by CMCs when there is no hope of success but the consumer is being told by the CMC that they have a good chance. When the FOS rejects, the CMC tells the consumer the big bad FOS is wrong but there is nothing they can do.    On goes a negative review.

Thank you for some of the points you make and the advice given.

If people do give advice it should be on the facts laid out in the original post and not based on there opinion or interpretation of the facts.

Waltzerman

sparelogin said:

I read the full post. You just didn't write it very well, with lots of typos and errors, but I chose not to pull you up on that.

The redress can be used against any outstanding debt with them. So you'll need to ask them for details of which debt they are referring to.

Ah thank you so much for that you are too kind, hadn't realised the grammar police were out today to pick someone up for grammar typos and errors, maybe you could mark my post and maybe a teacher "see me" at the end?

sparelogin

Do you honestly think it would help?

brettcta

What would really help here is someone who currently works in PPI for HSBC and deals specifically with this sort of thing on a daily basis. The rude OP might be putting them off helping though.