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PPI and credit rating issue
Dear all,
I was hoping someone could help me with a rather strange situation I find myself in. A number of years ago my (then) wife and I seperated (Jan 2014) , then divorced. All the debts (with HSBC on personal loan and credit cards) passed to me, I then lost my biggest customer in the Ukraine (I was a self employed consultant) and ran into trouble because of limited income (plus my ex took all cash from the bank). I kept HSBC fully informed but it took some months to find a job (in Kazakhstan) and I was then able to repay in full the loans/cards/penalties to HSBC. I paid back approx £30k +in four months. I then got on with my life but later noticed an old credit card statement which mentioned an insurance payment, so I wrote to HSBC asking about PPI, lo and behold they made an offer of around £27k, which I accepted (was still working in Kazakhstan/Russia at this time). I then moved back to the UK in April this year. I have substantial savings, over £100k, but nof find I have a really poor credit score so am not even able to change phone contract (there's lots of errors, being slowly corrected but essentially HSBC recorded a default the month before I stated paying back all the money. So essentially I am being penalised for paying back the money rather than walking away so HSBC suffer no loss, recover all monies owed + profit, but I am screwed for ever. Fair play maybe, but with hindsight, HSBC knew that I as a customer had paid PPI (when did they actually stop collecting PPI payments?), I think they had started paying out PPI compensation by 2015/15, so in reality the money they refunded could have been used to pay the debt to them? but HSBC never mentioned having insurance at all, when I told them I had lost my income I did assume that I had insurance at that stage, and was actually quite shocked when they stayed silent. Has this happened to anyone else?
I was hoping someone could help me with a rather strange situation I find myself in. A number of years ago my (then) wife and I seperated (Jan 2014) , then divorced. All the debts (with HSBC on personal loan and credit cards) passed to me, I then lost my biggest customer in the Ukraine (I was a self employed consultant) and ran into trouble because of limited income (plus my ex took all cash from the bank). I kept HSBC fully informed but it took some months to find a job (in Kazakhstan) and I was then able to repay in full the loans/cards/penalties to HSBC. I paid back approx £30k +in four months. I then got on with my life but later noticed an old credit card statement which mentioned an insurance payment, so I wrote to HSBC asking about PPI, lo and behold they made an offer of around £27k, which I accepted (was still working in Kazakhstan/Russia at this time). I then moved back to the UK in April this year. I have substantial savings, over £100k, but nof find I have a really poor credit score so am not even able to change phone contract (there's lots of errors, being slowly corrected but essentially HSBC recorded a default the month before I stated paying back all the money. So essentially I am being penalised for paying back the money rather than walking away so HSBC suffer no loss, recover all monies owed + profit, but I am screwed for ever. Fair play maybe, but with hindsight, HSBC knew that I as a customer had paid PPI (when did they actually stop collecting PPI payments?), I think they had started paying out PPI compensation by 2015/15, so in reality the money they refunded could have been used to pay the debt to them? but HSBC never mentioned having insurance at all, when I told them I had lost my income I did assume that I had insurance at that stage, and was actually quite shocked when they stayed silent. Has this happened to anyone else?
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