HFC would I be wasting my time.

[ATRO]

Hi All,

 

Will try and cut a long story as short as possible.

I have had several loans & credit cards over the years and never had an issue paying for any of them

 

however it transpires I took out a loan with HFC in late 98,

my wife and I split in late 02 and this is when I started struggling to make ends meet.

 

HFC put a default on my credit file (rightly so it seems) and then at a later date I had a DCA chasing me for the outstanding,

thanks to the help of the CAG forums it was proved to be statute barred.

 

Fast forward to today, my credit file is ship shape, me and my new wife (we met a few years ago) are building a decent life for ourselves but money is tight,

isn't it for everyone at the moment?

 

She received a claim form from Santander through the post for mis sold PPI which we duly filled in and sent back

(it was for a loan that she had taken out shortly before we met and we paid off around 18 months ago).

It was front loaded PPI and it seems like she has a reasonable case, we will see.

 

This got me thinking and I started sending SAR letters to all of my old creditors

(all were paid off barring the 1 HFC account) as I hadn't got many documents anymore.

I also sent an SAR to HFC as I had a loan prior to the statute barred one that I did pay off.

 

My question is this,

if I have a case with the HFC one and the claim is upheld would it just be offset against the defaulted loan?

I don't have a problem with this particularly but if it is then I don't see much benefit in putting much effort into that one,

however it would be a reasonable sum and if I claimed PPI on both it would more than outweigh the debt I had left.

 

I was young and naive and the defaulted loan was called "personal loan plus"

which meant they charged astronomical interest and after the years of paying I had paid far more than the original loan amount and still owed more than the original.

It was like a sub prime credit card interest rate.

 

Much point in chasing HFC, or let sleeping dogs lie?

[dx100uk]

you would NOT be wasting your time

pers i'd sar HFC

 

it been known that info from as far back as 1993 has been gotten

 

then you can claim on ALL accounts with them, there is NO time limit!!

 

as for the offset

 

they can only offset on NOTIFIED arrears.

 

dx

[dx100uk]

ims21 and myself BOTH had these types

 

dx

[ATRO]

Thanks for the advice, the SAR is in the post with them however I am expecting them to say all records have been destroyed.

 

I do have a few example statements from them but I guess the next step would be to SAR my own bank to get all my historic statements? When we split up a lot of paperwork was lost/destroyed.

 

Fingers crossed! Thanks again!

[ATRO]

Received a letter today basically saying the following:-

 

We confirm the above account has been closed over 6 years.

 

HFC Bank retains account information and documentation for a period of 6 years after an account has been closed. This is done to ensure HFC Bank complies with certain laws and regulations, including The Data Protection Act and The Proceeds of Crime Act.

 

Should you have any queries, please do not hesitate to call.

 

They have enclosed my £10 cheque too.

 

I did ask them on the SAR if my data had been destroyed for certificates but seems they have ignored this request.

 

Do I call, or send another letter insisting on destruction certificates again? If so, do I need to enclose the cheque again?

 

Sorry to be a pain.

[ims21]

Hi

 

If it were me I would send the failed SAR letter and the £10 payment again.

 

Tell them that if they maintain your data has been destroyed, you want to be satisfied that this is the case and that you want the date of destruction, the method used and the person who authorised the destruction.

 

You could also slip in a line that failure to provide a satisfactory response will be deemed as avoidance of their duties under the DPA and that you may take legal action to force compliance.

 

ims

[ATRO]

Hi Great, thanks for the advice, will do that now.

[ATRO]

As a matter of interest, what if the organisation couldn't prove method of destruction for whatever reason?

[ims21]

Hi

 

Well you could lodge a formal complaint with the ICO. A quicker solution would be to issue in court for non compliance with the DPA (which a few members have done) and the court would force them to either send you your data or divulge the destruction information.

 

ims

[ATRO]

Thanks again, I look forward to their dodging tactics, it begs the question why they didn't divulge destruction info when I detailed I wanted that in my SAR.

[dx100uk]

sadly hfc never will

 

it would be nice to get them against the wall.

if your bowse my posts on hfc

 

somewhere there is a detailed account of how they spent months shedding everything they could when

the ppi storm stated to break

 

they PPI fleeced 100'000's of borrowers

 

dx

[ATRO]

Surely though if they don't produce then they can face fines/prosecution?

 

At this stage I don't expect a penny from them, however I'm happy enough to be a nuisance for as long as I possibly can be.

[ATRO]

Bit of a find!

 

Had a rut around and found 3 years worth of photocopied statements for the second HFC loan, these were supplied by the DCA when I had SAR'd them.

 

If I manage to recover all my old bank statements could I then use these statements to work out how much of each payment made was PPI and build my case from that?

 

Or secondly if bank can't produce all old statements could I claim the PPI from these 3 years worth of statements and could that be used as my case?

 

Would I send this claim to HFC or bypass them as they're being obstructive and submit it straight to the fos?

 

Sorry for all the questions, HFC made my life a misery when I was going through a tough period in my life and I just want to serve them a little bit back.

[dx100uk]

if these are for the plus one thats useful. yes you can,.

 

as for the route

 

you should go thru hfc then get a final response.

 

however as we know ims won so they do refund on these oes.

 

dx

[ATRO]

Smashing, cheers, will await what bank sends me as I sent them an SAR for a loan I had a good few years ago.

 

At some point I will be adding threads in other areas as I have a few other SAR letters awaiting responses.

[ATRO]

On the personal loan plus would it be compound interest?

 

Just used the compound calculator and for £750 worth of monthly PPI charges from 98-01 it would equate to £14k, would this be right? Or would it be the 8% interest rate?

 

Also, if they come up with nothing else from my SAR would my case be enough to throw in the photocopied statements and build my case from that, i only ask as there are a number of statements missing, can you claim what is there in black and white if you can't build the whole account?

 

Checked the CCA for this one and it states ppi is OPTIONAL, however it is a pre crossed box.

Edited May 7, 2012 by ATRO

[dx100uk]

ideally the third one here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

and yes use any statements you have too.

 

dx

[ATRO]

Ahh right, that makes more sensible figures.

 

Thanks again dx, its still worth going after but I'll hold off until they give me a second response to the SAR.

[ATRO]

After a bit to-ing and fro-ing I'm awaiting HFC coming back to me with the SAR, if that shows nothing more than the few years of statements I have i could do with some advice please.

 

This was defaulted in 2004, would it be the FOSCI sheet and closing date be the default date or charge off date or neither?

 

Even though some of the statements have missed payments do I still put that months PPI charge in? Obviously there were other payments that I don't have records of due to the missing statements but I guess not much I can do about that.

 

Lastly, would it be worth starting a seperate claim for charges also or incorporate both into 1 sheet?

 

Thanks for any advice given!

[dx100uk]

sep claims always.

 

tes use the fosci sheet

it should do it for you

 

even the mising months.

closing date [last ppi payment]

then 8% from that date to today usign the statint sheet.

 

dx

 

 

dx

[ATRO]

Thanks dx, I will start cobbling what I have together.

[ATRO]

Right, received SAR back yesterday.

 

Nothing about oldest loan but have all account activity on the personal loan plus.

 

Its absolutely obscene the amount of PPI and charges (will start another claim for them once PPi one is in), its no wonder I got this account in such a mess!

[ATRO]

edit

Edited June 23, 2012 by ATRO

[ims21]

If this goes to fos, we have seen a couple of cases recently where they have sided with the bank and agreed with a set off against a sold debt .This is being challenged.

 

This goes against the recognised case law on the subject which fos do not seem to feel that they need to take on board.

 

Let's see what they do in this case before we get too worried about it though.

[ATRO]

Cheers ims the actual claim is larger than the sold debt, by around £2k, so even if they were to offset there is some redress to be made.

 

But as you say, we'll cross that bridge when we come to it.

 

Just totted up all payments made, for an original loan of £5k I made over £10k worth of payments and the charged off amount was still more than the original loan amount!!!