HSBC HFC Restons refund

Gig1968 · 5 July 2017 at 5:29PM

Hi
Just wondered if anyone had received a letter from HSBC, with regards to a refund on an old HFC bank loan.
The loan was passed to a debt collection company Restons.

[Deleted User] · 5 July 2017 at 5:30PM

More detail needed.

Gig1968 · 5 July 2017 at 6:26PM

Many moons ago. I took out a loan from HFC. I failed to repay so my debt was bought by Restons solicitors. A charge was then added to the debt when passed from HFC to the debt collectors. On the 24th Jan 2017, the FCA published a statement saying that HSBC now owners of HFC had agreed a redress of the excessive debt charge added for the collection, for the years 2003 to 2009. I believe the figure for Restons is 16.4 per cent of the sold debt. The number of customers affected if I remember was 6000 and HSBC had made a provision of some 4 million pounds to settle this. HSBC agreed with the FCA that it would contact customers directly. This is why I wondered if anyone else had received a letter from HSBC recently.

aj-1308 · 11 April 2019 at 10:26AM

Hi, Did you manage to resolve this? I tried to contact Restons but as the information is more than 6 years they cannot help.

Mandy2706 · 19 April 2019 at 1:17PM

I have received a letter from HSBC re the HFC and Restons issue.

Letter starts -
You may be entitled to a refund if you held a Store Card, Credit Card or Loan provided by HFC Bank

We've identified an issue that affects some customers who had a store card, credit card or loan provided by HFC Bank. We're writing to you regarding this matter, as HFC Bank is now part of HSBC UK Bank plc.

We believe you held a credit card with HFC Bank that was referred to Restons Solicitors Ltd, who may have applied a Debt Collection Charge to your account. If this happened, you might be due a refund.

What action do you need to take?
If you believe you were affected by this issue, please send us evidence that this charge was applied to your account. We'ff also need to verify your identity to make sure you're the owner of the account. If you didn't pay a Debt Collection Charge, you don't need to take any action.

It then details what the charge is and then how to provide evidence along with a reference number to quote.

Evidence is..
a letter from restons that's shows the Debt Collection charge applied
A statement of account from Restons which shows a Debt Collection Charge being applied
Any Court documents that show the amount of the Debt Collection Charge applied to your account

The says

Once we've confirmed that a Debt Collection Charge was applied to your account and verified that you're the owner, we'll write to you within 28 days with any refund due to you.

If you don't respond with evidence of a Debt Collection Charge, we won't be able to investigate whether a refund is due to you. We won't be able to provide you with a refund if we're unable to confirm that you are the owner of the account.

Now my problem is that I no longer have the records of this as it is all paid off and is longer than 6 years ago. I have not kept any of the correspondence and can't even remember how much it was for - I do however, vaguely remember paying Restons each month a considerable amount if memory is correct but even my bank statements back to 2012 do not have the info as it was prior to this.

What can I do to check this? Will anyone have the info? Surely if the Ombudsman has instructed them to refund they should have been made to retain all info and why has it taken this long?

cria28 · 23 April 2019 at 6:21PM

Just wondered if you managed to get anywhere with this as I am in the same position. I have had the letter too but am unable to provide evidence!
Cath

Dsa · 25 May 2019 at 9:55PM

Hi there ,I also received a letter but had no paperwork .
So I rang and gave them information and there now reviewing my case ,so give them a ring with any information you have and will let you no when I receive a reply

Mandy2706 · 30 May 2019 at 10:51AM

Further letter today.

Now says if you don't; have any paperwork but believe you paid a Debt Collection Charge please till contact us, as your recollection of events during the time of your credit card was passed to Restons will also be used to help our investigations.

Then gives a phone number or email address and also a form attached to send via post.

I am going to email them - for the life of me can't remember which credit card it was but back then but think it might have been MBNA. I know I was paying over £200 a month to them for over a year if not more as they wouldn't take anything less and were really horrid to deal with.

maxnow · 31 May 2019 at 10:07PM

me too got same letter today , whats did you made action ?

penfold2019 · 12 June 2019 at 11:58AM

I received a letter back in April and disregarded it as I thought it was PPI! They sent another letter last week and have said I am due a refund (they have not asked for evidence). I phoned to do the identity check and then gave my bank details and they said they will be in touch to make the refund in the next 14 days. No idea how much, can't even remember how much the loan was for. I believe they will also be paying 8% interest on the refund amount.

Would be curious to know if anyone has received their refund?

Dsa · 17 June 2019 at 2:46PM

Well Ian still waiting ,it's been 3 months since first contact lol .

HSBC HFC Restons refund

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