Hi, I applied to HSBC to try to reclaim PPI. Have emailed GT and am waiting for a reply

[Bazza5070]

Hi, I applied to HSBC to try to reclaim ppi on a credit card I had that was part of the IVA. My IVA completed April 2012, I have the completion certificate. I wasnt going to bother claiming but a financial person said I should. HSBC have asked that I get permission from Grant thornton to proceed stating they have no interest in this claim.I have emailed GT and am waiting for a reply.

[MerlinL14]

This is an asset that was available during the term of the IVA, whether you knew about it or not. There have been no 'rules' laid down for IVAers with regard to PPI claims post IVA. Creditors will pass it back to the IP to make that decision and it is just a matter of who your IP is at to whether you get the claim post IVA or not.

[Bazza5070]

thanks for reply, its Grant Thornton so will wait & see, will keep you posted

[Foggy]

It will be interesting to see how this pans out -- but I have my suspicions that GT will want the money ( I wonder if Jerry Maquire works there ? )

[TheArtist]

Foggy, am I being thick? Who's that?

[Bazza5070]

thanks for reply, i am assuming they will and will probably take for ever to sort out. Have emailed but they have 10 days to reply.

[Foggy]

Jerry Maguire was a Sports Agent who developed a soul in the film of that name. He was played by Tom Cruise and one of the memorable catch phrases was SHOW ME THE MONEY (shouted):


Rod Tidwell: It's something very personal, a very important thing. Hell! It's a family motto. Are you ready Jerry? I wanna make sure you're ready, brother. Here it is: Show me the money. Show! Me! The! Money! Jerry, it is such a pleasure to say that! Say it with me one time, Jerry.
Jerry Maguire: Show you the money.
Rod Tidwell: No, no. You can do better than that! I want you to say it brother with meaning! Hey, I got Bob Sugar on the other line I bet you he can say it!
Jerry Maguire: Yeah, yeah, no, no, no. Show you the money.
Rod Tidwell: No! Not show you! Show me the money!

[Bazza5070]

well done TheArtist for completing..best of luck for the future

[TheArtist]

Thank you Bazza and......er....thank you Foggy

[TheArtist]

Apologies Bazza for digressing but FOGGY you crack me up sometimes!!!:)

[Foggy]

I try, TA, I try

[MelanieGiles]

How does Merlin know that this was an asset captured under the terms of the IVA I wonder?

It may well not have been - but it is standard HSBC procedure to ensure that confirmation of this is received from the former IP.

[Bazza5070]

ok thanks Melanie, obviously im hoping Grant Thornton say its down to us to pursue on our own, but HSBC can still send the cheque to GT I understand even if they agree I am owed anything

[MelanieGiles]

They will only send the cheque to GT if GT say they have a rightful claim over the monies. And don't forget that you will have to personally pay income tax on an interest received within the payment, so make sure that you get that element of the monies out of the claim so you can correctly account for any tax due to HMRC.

[Foggy]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

They will only send the cheque to GT if GT say they have a rightful claim over the monies. And don't forget that you will have to personally pay income tax on an interest received within the payment, so make sure that you get that element of the monies out of the claim so you can correctly account for any tax due to HMRC.

GT tell me otherwise, Mel. I queried the tax position with them and they say they will deal with HMRC regarding any tax liability (not sure how, as they don't know my tax status).