Just thought i'd let people of my progress, seems an age since my first letter to hsbc.
HSBC have responded - have to say they really are sending threatening letters to try to stop you taking further action:
"Further to our our later dated x, I have now completed my investigation into the issue you raised."
<cut a few bits out>
"Having taken the opportunity to review the records we hold in relation to this matter, I regret that I am unable to support your compliant.
It has been brought to my attention that you have entered into an Individual Voluntary Agreement as of X at X County Courts, ref X an the above Personal loans and therefore associated Personal Loan Protection Plans were included in the order.
Accordingly, I can only state that it is our understanding that you no longer have a right to complain about either your Personl Loans or the above detailed Personal Loan Protection Plans.
I am also instructed by our legal department that all future correspondence with regard to your Personal Loans and the associated Personal Loan Protection lans should be restricted only to the Insolvency Practitioner representing you who current has the sole right to complain.
As you admitted your debt, we do not consider a compliant now would be successful or possible. In the unlikely event that compensation was payable only your trustee would have the benefit of it.
If the Insolvancy Practitioner was to complain on your behalf and, as a result an offer was made it would be paid to the Insolvancy Practitioner to distribute as he saw fit amongst all the creditors included in the hearing.
You may wish to pursue this option further however, as previously stated, this is as far as this team can take matters; we consider the matter closed and do not propose to enter into further correspondence with any party other than the Insolvency Practitioner.
In the circumstances, we are no longer treating this matter as a formal compliant. As such, we would urge you take immediate independent legal advice as to your position.
I am further instructed to inform you that any proceedings issued against the Bank will be strenuously defended.
"
They did put a paragraph about the ombudsman at the bottom - I'm applied that they have responded in this way as they are effectively trying to scaremonger me not to responding!!
So basically I'm going to get the ombudsman involved and explain just because I'm in an IVA doesn't mean I can't make a claim. I fully understand that it will be classed as a windfall and will be declaring it mel and her team. I will send a copy to mel Tuesday but seems unfair that they won't deal with me direct as that seems unfair.
Even if you make a claim fingers the money will go across to your IVA.
Personally speaking I wouldn't bother with it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Fingers - that what the IVA offers - it restricts previous creditors contacting you, and well you contacting them - all queries /problems with creditors should be address through your iVA company.
As much i hate to agree with HSBC - it does indicate in the letter it will open discussion up with your IP directly if required.
Fair enough can see why now forgot about the protection bit. I understand about the windfall etc, just means my creditors get higher return and gives me a peace of mind hsbc didn't get away with it.
I'll have to speak to mel's team tuesday and see what the next move is, i think the odbudsmans is best route. My reasoning that it's best that i deal with it - is i know the exact history etc.
Why obmnubusman? - i appreciate that you want to pay as much as you can back - but to go down a route that will take months to resolve - but will gain you nothing in return. You may find your case is bounced back as - the whole debt etc is being dealt with by a 3rd party
If your IVA company want to persude a PPI case - then let them deal with that - and take the "strain".
Last edited by ginger3232 on Fri Aug 26, 2011 6:39 pm, edited 1 time in total.
HSBC may well keep the money to offset against their own debts - it does mean the others will get more but so will HSBC.
Speak to Mel about it - she will want to deal with this off forum I think.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
have to agree with the others here.
why would you put so much time and energy into pursueing this.
it seems to me that anyone in an iva must have been in a considerable amount of debt, because of this our creditors have already lost out on money that is rightfully theirs, and to me it seems immoral tomake a claim against them.
kat
IVA accepted 6th May 2011, Full and Final accepted 17th April 2012.
I have to support fingers here. I was bullied by HSBC into taking PPI 5 years ago and the tactics were shocking. I had been fighting for 18 months before I entered an IVA. It has been with the Ombudsman and they were waiting for the judgement and appeal result. They are now dealing direct with HSBC.
I have asked them to carry on for me even though I understand the money will go to HSBC. This will lessen the debt owed to them but increase the dividends to others.
With me this is a principle thing. The F.Omb told me my story is not unique and some stories are appalling.
So if you feel as strong as I do then you should continue via your IP.
I've never taken out PPI thankfully, but I would let it go now. I'm being allowed to write off part of my debts and I'm happy with that.
HSBC were a nightmare for me and hubby and I wouldn't touch them again if they offered me a million pounds to open an new account but I couldn't be bothered to pursue them for anything.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Kazzafunk - i fully agree in what you say - and if someone was not in an IVA - i would fully support them all the way, however when in an iVA - the person is not likely to gain anything financial out of this. Sometimes you have to bite the bullet and walk away and ask yourself is extra stress /time worth it ??
At the end of the day and IVA - hopefully we all walk away a bit wiser and a promise than we never touch any of our ex creditors again.
Only the OP knows the full facts/information - and only they can decide whats right for them.
Take what you say ginger - no stress for me now though as I did all the hard work prior to the IVA. Just have to wait for a decision from the Financial Ombudsman. HSBC - don't care, they'll just be saying yes then paying it off their debt.
As the FO had done so much work prior to June then they may as well carry on.
