www.iva.co.uk

Hi,

I completed and have received certificate mid August. Then out of the blue today the financial ombudsman called me re compliant re hsbc ppi I started nearly a year and half ago. Id suspect it will go on another 3 months minimum before i'll hear the result anyway from them.

However, my question is as everything is now settled can HSBC still offset the debts if they do pay out? ie. they have had there full repayment as per original iva agreement. Otherwise, they would not have had a high as dividend paid to them from closure of iva I believe.

I do realise it is also a grey area and i'll need to inform Melanie if they do pay the ppi. I have high hopes that I can try to keep it but its a long shot even if they pay and then further if i'm allowed to keep it.

Hi, firstly sorry your post appeared to slip through the net. I don't personally know the answer to your post but have bumped this up in the hope someone else will.

The chances are that HSBC will attempt to offset -- they have in the past and, I gather, a few IP's have tried to challenge this -- but, until someone takes them to court or the FO sticks his neck out, there will be no resolution.

They may still be able to offset the monies against the debt which was included into the IVA fingers, and they are sure to be in touch with me about their position in due course.