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  • FIRST POST
    • 1984jane
    • By 1984jane 5th Sep 17, 9:22 PM
    • 8Posts
    • 1Thanks
    1984jane
    Beneficial Finance PPI
    • #1
    • 5th Sep 17, 9:22 PM
    Beneficial Finance PPI 5th Sep 17 at 9:22 PM
    Hi everyone, this is a real long shot but I'd be grateful for your thoughts on what I should do.

    I took out a loan with Beneficial Finance in the early 2000's (they approached me after I purchased a laptop and offered to help me consolidate the debts I already had) Being young and naive at the time (I was at University) I decided to do it and I eventually paid it off. Unfortunately it was so long ago that I literally have nothing about the loan at home.

    With all this talk of being mis-sold PPI, I'd love to know if Beneficial Finance had done this to me, as I feel like I would've agreed to it at the time. Unfortunately I wouldn't even know how to go about contacting them now, let alone making a case for possible compensation.

    Would I be wasting my time in persueing this or is it possible to find out with literally no information to use apart from my name and address?

    Thank you in advance!
Page 1
    • -taff
    • By -taff 6th Sep 17, 6:19 AM
    • 7,113 Posts
    • 5,111 Thanks
    -taff
    • #2
    • 6th Sep 17, 6:19 AM
    • #2
    • 6th Sep 17, 6:19 AM
    HFC bank. Send a SAR and £10.
    If you paid PPI and were a student and not working more than 16hrs a week, automatic missale.

    However, there may be no records left, as they are not rquired to keep them forever, there may be none left because your acount was closed and there is no need for them to keep them etc.
    • 1984jane
    • By 1984jane 6th Sep 17, 6:30 AM
    • 8 Posts
    • 1 Thanks
    1984jane
    • #3
    • 6th Sep 17, 6:30 AM
    • #3
    • 6th Sep 17, 6:30 AM
    Forgive me for sounding silly, but what's an SAR? X
    • societys child
    • By societys child 6th Sep 17, 9:43 AM
    • 4,809 Posts
    • 5,236 Thanks
    societys child
    • #4
    • 6th Sep 17, 9:43 AM
    • #4
    • 6th Sep 17, 9:43 AM
    SAR = Subject Access Request. It costs £10.

    See the "sticky" at the top of this forum. Link:
    http://forums.moneysavingexpert.com/showthread.php?t=4930295

    • bluebirdblogger
    • By bluebirdblogger 19th Oct 17, 1:46 PM
    • 5 Posts
    • 0 Thanks
    bluebirdblogger
    • #5
    • 19th Oct 17, 1:46 PM
    • #5
    • 19th Oct 17, 1:46 PM
    Hello,


    I have sent HSBC bank a SAR including the £10 cheque for 2 individual HFC loans I held and have paid off, one dating from 2005 and one from 2006.


    They have written back to me to state that as the agreements were so long ago and due to DATA protection they no longer have the original agreements so are unable to provide me with them.


    What's my next step here please as I believe I have valid PPI claims on both.


    Thanks
    • Moneyineptitude
    • By Moneyineptitude 19th Oct 17, 2:16 PM
    • 18,731 Posts
    • 9,983 Thanks
    Moneyineptitude
    • #6
    • 19th Oct 17, 2:16 PM
    • #6
    • 19th Oct 17, 2:16 PM
    What's my next step here
    Originally posted by bluebirdblogger
    Did you request just the Agreements or for all info they've kept? Did they say they have no information at all?

    If they have no record of PPI on these loans you'll have to give up...
    • bluebirdblogger
    • By bluebirdblogger 19th Oct 17, 2:53 PM
    • 5 Posts
    • 0 Thanks
    bluebirdblogger
    • #7
    • 19th Oct 17, 2:53 PM
    • #7
    • 19th Oct 17, 2:53 PM
    Hi,


    I requested all information that they held regarding these loans including the original agreements.


    (I have searched high and low and cannot find them sadly).


    The letter says due to the time passed they no longer have copies of the agreements and due to DATA protection are not expected to retain them for this period of time.

    They have basically washed their hands of it as the loans are old and HFC no longer exists, am I really out of options?
    • Moneyineptitude
    • By Moneyineptitude 19th Oct 17, 2:59 PM
    • 18,731 Posts
    • 9,983 Thanks
    Moneyineptitude
    • #8
    • 19th Oct 17, 2:59 PM
    • #8
    • 19th Oct 17, 2:59 PM
    They have basically washed their hands of it as the loans are old and HFC no longer exists,
    Originally posted by bluebirdblogger
    No, they've just complied with Data Protection guidelines and destroyed the records as they are older than six years.

    If you cannot find anything in your own archive, any "complaint" you might make has therefore ended before it's begun.
    • bluebirdblogger
    • By bluebirdblogger 19th Oct 17, 3:10 PM
    • 5 Posts
    • 0 Thanks
    bluebirdblogger
    • #9
    • 19th Oct 17, 3:10 PM
    • #9
    • 19th Oct 17, 3:10 PM
    Hi,


    You seem to be suggesting my complaints aren't valid due to time passed? Not sure why I seem to be the one in the wrong here?


    The reason these "complaints" were raised was because I was sent two individual questionnaires to complete by HSBC as due to them completing due diligence it appeared I was one of the many who may have been miss-sold PPI on the loan agreements with HFC Bank.


    I sent the SAR and that was their response, given THEY initiated this procedure only to then say they cannot provide me with information is it really the case that I am without options here?
    • TrickyDicky101
    • By TrickyDicky101 19th Oct 17, 3:27 PM
    • 2,797 Posts
    • 1,812 Thanks
    TrickyDicky101
    Your complaint will be rejected because neither you nor HSBC have recorded evidence that you had PPI on any loans with them as Moneyineptitude stated.

    If neither of you have such documentary evidence, is it any surprise that they won't be making any payout?

    If that was the case, what would stop me going to HSBC (who I am not a customer of) and claiming that 28 years ago I had missold PPI of £50k with them and I'd like a cheque in full settlement (with interest)?
    • Moneyineptitude
    • By Moneyineptitude 19th Oct 17, 3:34 PM
    • 18,731 Posts
    • 9,983 Thanks
    Moneyineptitude

    You seem to be suggesting my complaints aren't valid due to time passed?
    Originally posted by bluebirdblogger
    On re-reading your last post:

    Did you fill in the PPI questionnaires and send them before the SAR? If not, what did you need the SAR for?

    It sounds to me like both you and the bank may have misunderstood what was required.

    You didn't need a SAR and the bank have misinterpreted your request and thought you wanted the ORIGINAL agreements.

    They don't have the originals, but if they've written to you in the first place then clearly they still have records of your PPi.

    Just fill in the questionnaires and send them to the Bank.

    It was and is that simple.
    • bluebirdblogger
    • By bluebirdblogger 19th Oct 17, 3:36 PM
    • 5 Posts
    • 0 Thanks
    bluebirdblogger
    Hi,


    I have obviously misunderstood what was required so thank you very much for clarifying, I'm sorry to waste your time with unnecessary posts.


    Appreciate your help.
    • bluebirdblogger
    • By bluebirdblogger 19th Oct 17, 3:39 PM
    • 5 Posts
    • 0 Thanks
    bluebirdblogger
    The query was prompted by contact from them hence my question, ineptitude has clarified my SAR request was unnecessary but thanks for responding, appreciate it.
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