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You will need to check the terms and conditions of the contract you signed with the PPI company. Often there is a clause to say that if you take over and make a claim yourself they are still entitled to their "share". They do this because people try to use the PPI companies to find claims for them and then "sack" the company and do the claim themselves.
What you need to determine is exactly at what date the bank decided to pay you out and what prompted them do so? I.e. was it a delayed response to the original letter from the PPI company.
I see you've requested a phone call, I can speak if you wish but I can help you on here and that way it won't cost you any more money.
Yes, that's fine - I haven't accepted the call so you won't be charged.
So on from my previous message. If you contacted HSBC yourself to make a claim and it is after you ended your contract with the PPI company then their claim might be invalid.
It all comes down to the terms and conditions you signed up to.
If the PPI company want to pursue this they would have to take you to the County Court by issuing a Small Claim. They would have to prove that you are contractually obliged to pay them.
Send them an e-mail and ask for a copy of your contract. If they want to pursue you for the debt then you will have to produce it at some point.
Did you ever pursue a claim yourself? I.e. did you actually write to HSBC asking to claim?
Yes if you can get through to HSBC and get them to reply in writing then that would be helpful.
But - you still need to review the Ts&Cs you signed up to with the PPI company.
According to their website it says this:
Terminating this Agreement:
You are entitled to cancel this agreement at any point within 14 days of signing it and incur no charge. In addition, even after the 14 day cooling off period, you are entitled to cancel this agreement at any point and will incur no charge unless your Lender has offered a financial benefit. If you cancel after your Lender has offered a financial benefit our charges remain 24% (inclusive of VAT) of the financial benefit.
So the question is whether HSBC offered you the compensation before or after you cancelled with the PPI company.
Still - I'd request a copy of your contract to be sure.
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