PPI Reclaiming discussion Part III

dreamer33

Borders wrote: »

Newbie to this site so apologies if this wrong.

Just wanted a bit of advice regarding an HSBC loan and PPI cover.

Wrote to them on November 5th and received the obligatory "dealing with your response and need more time" letter 4-weeks later.

However, between Christmas and New Year I received a 2nd letter stating they still need more time and will respond by January 27th.

I'm not a lucky person by any means and am reading that this means I won't be refunded because most people with HSBC loans seem to hear really quickly or at least by the 2nd letter that they've been successful.

Has this happened to anyone else and then they've gone on to be successful?

My claim covers the fact that I was pretty much pushed in to taking out the loan cover as my previous request had been refused because of the amount (15,000) and I didn't want cover as I have an 'outside' income protection plan. Second request for 13,000 was accepted but I was told to take the cover to help with application so did (this was all by phone). Went to local branch to sign on the dotted line and asked again about taking off the cover but was told face to face to take it as I'd have to reapply without cover and probably wouldn't get the loan. Have been in twice to local branch to ask for cover to be taken off (pay £76 per month) and have been told each time that I'd need to reapply for the loan and would probably get a different rate (higher of course) so wouldn't be saving myself anything and "better to leave things as they are".

Explained all this in my letter to HSBC.........do you think I have a good case. Have 2 years left to run and would really love a refund to either help pay off most of the remaining loan or (preferable choice....) pay off my credit card and pop a bit of money back in to the bank to pay off Christmas overdraft!!

Help appreciated and thanks in advance.

All companies are allowed to take 8 wks to respond to complaints. I would not worry to much about this. If you receive a final response from them by law they have to give you for FOS leaflet you can then complain to FOS. But who knows they may pay out before having to go there. Its the waiting thats the pain.

There are others in the success discussion that have claimed back ppi from HSBC.

What normally happens if you cancel the ppi then you do have to take out another loan but I don't think they are allowed to charged a higher interest rate, not 100% though.

corinne28

marshallka wrote: »

Yes, it is the broker you make your complaint to. You now have to take this to the FOS as you have received a final response which I take was from the broker???

What year was this loan taken out.??

Thanks Marshallka, I took it out 30/06/2004

dreamer33

Bye for now folks catch you later xx

marshallka

dreamer33 wrote: »

Morning everyone thank you marshallka, I see your feeling a lot better today and just awaiting you fire now:j

I could not sleep last night thinking about today. I've been a few times now and should be ok with it, but I feel really sick with nerves at the min, my OH normally comes with me but going it alone today as my appointment not until 11.40 and he been on nightshift,(not fair to wake him up).

To top it off we got roadworks and stuck in traffic this am going to school so kids where stressing me out, one saying going to get a detention and the other saying drop me off first, ohhhhhhhhh I had to tell them firmly to be quiet as they were stressing me out,(think I might invest in a helicopter if I win FF lol) they were fine in the end silly kiddies.

Much better today but just unusually tired now. :eek:

Will be thinking of you today then dreamer. Lets hope its a good outcome. You will be better later but then again its the waiting after thats the problem with biopsies. I just keep on ringing all the time asking for results. I am impatient as you know:o .

di3004

Borders wrote: »

Newbie to this site so apologies if this wrong.

Just wanted a bit of advice regarding an HSBC loan and PPI cover.

Wrote to them on November 5th and received the obligatory "dealing with your response and need more time" letter 4-weeks later.

However, between Christmas and New Year I received a 2nd letter stating they still need more time and will respond by January 27th.

I'm not a lucky person by any means and am reading that this means I won't be refunded because most people with HSBC loans seem to hear really quickly or at least by the 2nd letter that they've been successful.

Has this happened to anyone else and then they've gone on to be successful?

My claim covers the fact that I was pretty much pushed in to taking out the loan cover as my previous request had been refused because of the amount (15,000) and I didn't want cover as I have an 'outside' income protection plan. Second request for 13,000 was accepted but I was told to take the cover to help with application so did (this was all by phone). Went to local branch to sign on the dotted line and asked again about taking off the cover but was told face to face to take it as I'd have to reapply without cover and probably wouldn't get the loan. Have been in twice to local branch to ask for cover to be taken off (pay £76 per month) and have been told each time that I'd need to reapply for the loan and would probably get a different rate (higher of course) so wouldn't be saving myself anything and "better to leave things as they are".

Explained all this in my letter to HSBC.........do you think I have a good case. Have 2 years left to run and would really love a refund to either help pay off most of the remaining loan or (preferable choice....) pay off my credit card and pop a bit of money back in to the bank to pay off Christmas overdraft!!

Help appreciated and thanks in advance.

Hi there and welcome

Yes your in the correct place.;)

Now there are some who have been successful with these, don't know if you had the chance to check out the success & failure thread which is next to this thread, but maybe worth checking that out.

However, as the 8 weeks have gone by and your still waiting for a full investigation to take place, you should be entitled to take your complaint to the financial ombudsman service, they should have suggested this to you.

I am aware that HSBC were covered/regulated by GISC prior to the FSA who are regulators who had taken over GISC in 14th Jan 2005.

You could still continue with the FOS by either downloading a form form their website or you could ring for an hardcopy through the post, you could also send HSBC a copy and tell them you feel you have waited long enough for the complaint to be investigated and enclose a copy of the complaint form you sent to the FOS. (this is your choice, not unless you want to wait until the 27th of this month to see what they say first).

But sometimes by sending them a copy of the FOS complaint form can be a good thing where it will make them think and they may consider this in your favour, but its not guaranteed.

Here below is the link for the FOS, now when and if it comes to this, always enclose copies of all correspondence within the complaints form to the FOS and a final letter from HSBC if you do receive one.

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Good luck and please keep us updated where we will be happy to help step by step.;)

Di
x

marshallka

corinne28 wrote: »

Thanks Marshallka, I took it out 30/06/2004

I take it you had the final from the broker and who was the broker as this was 2004??

di3004

dreamer33 wrote: »

Bye for now folks catch you later xx

Good luck dreamer, hope all goes well and catch you later.:A xx

marshallka

dreamer33 wrote: »

Took my fizzies lol. Feeling rather sick, I've got the shakes

Don't take too many fizzies cause they will probably give you something at the hossie too and then you will be well spaced out...:eek:

marshallka

dreamer33 wrote: »

Bye for now folks catch you later xx

Come back on and let us know how you are...;)

pinknico

Loans.co.uk have been fined as well, I assume this is who your final response was from? Ring the FOS as they will give you a number on the forms they send out which means its not just hanging around in the in tray at the FOS waiting for a reference number.