Looking for ways to get problem with offset PPI resolved.

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Garydm82

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Post by Garydm82 » Fri Oct 14, 2016 10:52 pm
just started my 5th year having paid £34000 of my £30500 debt! Been told by the solicitors dealing with PPI through IVA company that i had £8050 back in 2013 from HSBC. The debt company have offset the money on their annual statements since 2014. The problem i am having is that HSBC are trying to offset debt on an account that was paid up in the 90's.
This is slowly my end date for finishing right down. My question is how are they able to do this, if the account was paid up in full, and why is it taking the debt company so long to resolve.
I am paying the Supervisor an addition 15% every month, yet he/she does nothing to get this matter resolved. Are you able to provide any assistance of possible avenues to use to get this resolved? They are saying that they cant even ask the creditors as to whether they even want me to pay stat interest, because of the PPI issue with HSBC, in the mean time i continue to pay £1100 every month.The way this is going this matter will not be resolved and i would have gone full term, then what happens?
 
 

kallis3

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Post by kallis3 » Sat Oct 15, 2016 8:52 am
Hi,

Bear in mind that you will always owe the full amount of the debt plus fees and statutory interest until the end so you will pay more across and your end date should remain the same.

I have no idea about the PPI unfortunately but hopefully someone more knowledgeable than me will be along.
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
 
 

Foggy

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Post by Foggy » Sat Oct 15, 2016 10:03 am
This is a common stance with HSBC who are particularly anti-IVA and always try to offset PPI rather than pay it over. It is beyond the control of your IP ... and beyond his powers to resolve. Ultimately it will require the Ombudsman to intervene and, possibly, a protracted court case.

Your IP could possibly deal with this by taking an assignment of PPI -(basically you giving him the rights over any PPI refunds) and agreeing with the creditors that the IVA be brought to a conclusion by excluding this particular refund and undertaking to distribute it to the creditors once sorted.

In the meantime they can also ask the creditors about statutory interest -- it has nothing to do with the PPI issue.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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