HFC loan acc PPI awarded/withdrawn - Advice needed please

[sandpearl]

I had a letter from HFC stating that they were upholding complaint for mis sold PPI. Great I thought, but because they offered me a reduced settlement and it was more than the PPI, they will not uphold the complaint. They have also concluded that I have not suffered a financial loss by having PPI!!!!..Can anyone give me some advise, I do have a claim with them also for unfair charges/fee's on the account and I have a feeling that im going to get the same response as the PPI when that letter comes back.

[ims21]

Hi

 

OK so they upheld your complaint.

 

Can you give the details of this reduced settlement?

 

Has that settlement been paid?

 

The financial loss bit is, to me, rubbish. The overriding consideration is that you should be put back in a position you would have been in had the PPI not been added in the first place.

 

ims

[sandpearl]

Hi ims,

this account was settled 10 years ago. it was opened in 1999 through Curry's the balance was about £820.00 I had paid about £780 and the balance was still £800 O/S. My account was passed to Freddricksons who offered me £200 in full & final settlement which I accepted.

I wasn't working when I opened this account with curry's so I didnt need PPI and I also had life/ins policy's etc, but i was told I needed their PPI as it was a condition of the account.

[ims21]

Hi

 

So was it sold to Freds?

 

ims

[sandpearl]

I also think because the PPI was £115 over 2 years (not much, I know) and the short settled amount was £797!! (this was made up of their outrageous account fees/charges). I guess I thought the PPI is different.

[sandpearl]

It was passed to Freds for collection, but I did get my SARs and all the money that I paid to Freds was showing on HFC account

[ims21]

Ok

 

So if Freds were collecting on behalf of HFC then they obviously must have been taking instructions from their principal. If HFC authorised a full and final offer then they cannot now go back on that since it was agreed by all parties at the time. In my opinion they owe you that PPI money and cannot now say we are changing the terms of the F&F and keeping it.

 

If they had sold the debt to Freds then they have no say in it at all since they no longer have any interest in the account.

 

I would be writing back to them along those lines.

 

ims

[sandpearl]

Thank you ims for your advise. I will be writing to them again. It will be interesting to see their reply also for the charges I have asked for too.