PPI Reclaiming discussion Part III

pinknico

marshallka wrote: »

Hi Pinknico, happy new year...:beer:

Hi Marshallka, Happy New Year to you , how is the DIY going?

di3004

hayjamdan wrote: »

hi guys wrote to capital one about policy been mis-sold as i do not recall ticking and signing for ppi got back a response today saying that questions are asked to determine eligibility for ppi products during the telephone call they say they have procedures in place to monitor the sale of ythe ppi over the telephone i ddont remember any telephone call. they said if i have any further questions am to write back to them within 4 weeks wat do u think of this i have already requested a sar so hopefully i will get that conversation they claim i had with them in the sar

Hi there

Yes if that call was made, then it should be disclosed within the SAR information, if its not there in either written form or disc recordings etc, I would question that then.
However the FOS will consider this as well if it went as far as them.;)

pinknico

hayjamdan wrote: »

hi guys wrote to capital one about policy been mis-sold as i do not recall ticking and signing for ppi got back a response today saying that questions are asked to determine eligibility for ppi products during the telephone call they say they have procedures in place to monitor the sale of ythe ppi over the telephone i ddont remember any telephone call. they said if i have any further questions am to write back to them within 4 weeks wat do u think of this i have already requested a sar so hopefully i will get that conversation they claim i had with them in the sar

I had the same problem with Capital One, told it had been brought over the phone etc. But they didn't have the phone call. Also they had been fined for mis selling over the phone so I queried how they could be sure I hadnt been mis sold without the phone call to listen to, they didnt answer just said "not mis sold" so have sent a complaint to the FOS.
Hope they have your recording ,what year was this?

Dave271

Hello everyone,

Firstly, I took out a personal loan plus PPI with HSBC 6 years ago and still have two to go. I experienced some financial difficulties last year and decided to try and reduce my monthly outgoings. This resulted in me using Martin's advice and claiming the ppi back on my loan.

The good news, I have just recieved a letter from HSBC informing me that my complaint has been been upheld and that a rebate of several thousand pounds has been agreed. I was obviously delighted with this until I read on...

When I read down the letter from HSBC I came across this statement: "I understand that the redress outlined above cannot be paid until my loan has been restructured without the personal laon protection" This has now worried me as my credit rating has fallen and Im concerned that the bank with not authorise a 'new' loan. This would result in me not recieving a penny? I see from the site that this is a standard letter as sent to other people claiming from HSBC.

Does my loan have to be restructured and what if it is not approved, where does this leave me in terms of the offer already made.

I would very much appreciate any advice on this or hear from anyone who has had similar experiences.

I have an appointment at my branch next week, but I would like to be armed with more information before I meet with them. Also can I do this at any branch as my previous experience at my local bank was not a positive one!

Many Thanks

Dave

di3004

Dave271 wrote: »

Hello everyone,

Firstly, I took out a personal loan plus PPI with HSBC 6 years ago and still have two to go. I experienced some financial difficulties last year and decided to try and reduce my monthly outgoings. This resulted in me using Martin's advice and claiming the ppi back on my loan.

The good news, I have just recieved a letter from HSBC informing me that my complaint has been been upheld and that a rebate of several thousand pounds has been agreed. I was obviously delighted with this until I read on...

When I read down the letter from HSBC I came across this statement: "I understand that the redress outlined above cannot be paid until my loan has been restructured without the personal laon protection" This has now worried me as my credit rating has fallen and Im concerned that the bank with not authorise a 'new' loan. This would result in me not recieving a penny? I see from the site that this is a standard letter as sent to other people claiming from HSBC.

Does my loan have to be restructured and what if it is not approved, where does this leave me in terms of the offer already made.

I would very much appreciate any advice on this or hear from anyone who has had similar experiences.

I have an appointment at my branch next week, but I would like to be armed with more information before I meet with them. Also can I do this at any branch as my previous experience at my local bank was not a positive one!

Many Thanks

Dave

Hello Dave and welcome.;)


Now in my opinion if they admit to mis selling this, I assumed you would have a choice in how you want the money to be funded.

If you would like this to be returned to you, write to them and tell them, see what they say, if your not happy with their decision on this write to them again until you receive a final response on this, as this case can also go to the Financial Ombudsman service as well if your not happy with the outcome of this.

Also write to them and request for a settlement figure (Quote) showing the breakdown of this, you will see what is what then, but personally if this was mis sold to you, this is not your fault and maybe these financial problems wouldn't have been so bad for you if you know what I'm saying, this does not help with the extortionate amount of PPI plus interest added with the loan.

Someone else may have some help here for you here hun, with a bit of luck if someone else has been through this actual situation they may also post up as well.

Good luck Dave, but please keep posting for help when required where we will be happy to help where we can.;)

Di

10past6

pinknico wrote: »

Hello 10past6,When you say "they" do you mean the company?

No, my OH signed and ticked the PPI box, Can't remember now as it was 2006 but when applying for the loan sure the advisor mentioned that had to take out PPI to be sure payments were covered in the event of illness etc, etc, although as I say, I'm not 100% certain on that.

hayjamdan

pinknico wrote: »

I had the same problem with Capital One, told it had been brought over the phone etc. But they didn't have the phone call. Also they had been fined for mis selling over the phone so I queried how they could be sure I hadnt been mis sold without the phone call to listen to, they didnt answer just said "not mis sold" so have sent a complaint to the FOS.
Hope they have your recording ,what year was this?

hi pinknico this was in 2004 i just wrote them to say i have requested a sar so if they have the details it should be sent to me so i will see what they have to say about that if they dont have it then i will write them and say what you said about them proving i was missold without that evidence thats if the 8 weeks isnt up by then.

di3004

10past6 wrote: »

No, my OH signed and ticked the PPI box, Can't remember now as it was 2006 but when applying for the loan sure the advisor mentioned that had to take out PPI to be sure payments were covered in the event of illness etc, etc, although as I say, I'm not 100% certain on that.

This post is for anyone requesting a SAR as well.

You still have a good chance here hun and this is one of the commonist mis selling tactics. (to be eligible for a loan you must take the PPI)......:eek:

Hopefully there will also be some interesting documents in the SAR, if you do remember anything and you feel it should have been included with the SAR and was not enclosed, then write back to them and tell them, tell them you believe that not all information was enclosed such as ???
And if they do not disclose this, you will not hesitate but complain to the ICO which is the Information Commissioners Office here:
http://www.ico.gov.uk/complaints.aspx

10past6

Thx di

We're on a DMP so funds are tight, we never sent the SAR due to the £10.00 fee, so at this stage we just sent a complaint letter asking them to investigate our complaint re the PPI.

We'll have the £10.00 at the end of January for the SAR if it's required.

di3004

10past6 wrote: »

Thx di

We're on a DMP so funds are tight, we never sent the SAR due to the £10.00 fee, so at this stage we just sent a complaint letter asking them to investigate our complaint re the PPI.

We'll have the £10.00 at the end of January for the SAR if it's required.

Good luck hun
Yes all these pounds can add up, I do fully understand.;)
With a bit of luck this will go in your favour anyway, the first letter can sometimes be standard fob off templates responses, but if that is the case then another letter will be required where we can try to make this even stronger if we have to.
Fingers crossed for you.;)

Di
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