PPI Reclaiming Discussion part 4

tiggrae

bugsy161 wrote: »

Hiya Di,

Do you have any instances where a bank has paid the same redress twice?

Yes, I have - some banks pay the premiums and interest payable back separately

kenf2210

hi,just to say i recieved a letter this morning from hsbc about my ppi claim and same again still investigating,ive had four of these letters but this latest one also says there will be no decision untill the court case is over,i knew this is what they where holding out for,dont know what to do now just wait or what ??? any advice.and my egg ppi have not got back to me but ive won that one as they said its been calculated up how much they owe but i got that response 2 weeks ago

swaggerman

Hi Guys ,

Long time fan of the site and reading the forums but never posted. I need some help please.

In 2003 I took out a 5x year graduate loan with HSBC. When taking out the loan I was told I needed the insurance with the loan, I had no idea I could refuse this.

At the time I was not working, I was just out of Uni and used the loan to pay off credit cards and overdraft’s

After reading all the research and cases on re claiming PPI insurance, I want to take it further but have been afraid to in case they recall my loan or close my account.

WELL NO MORE, I was only 23 at the time, had no money, and no job, they shouldn’t have given me a loan not to mention put an extra 2.5k in insurance fee’s in for good measure.....

But now the complicated bit.... I don't have the original paperwork and since then I have refinanced the loan twice, (which I have the paper work for ). So that’s 3x loans in total which they have added insurance on each time.

I think I have just been insurance for the last year!

Looking at the reclaim questionnaire I need to include as much detail as possible, can I request the original paperwork from HSBC ? And do I need to include the other 2x loans where they miss sold me insurance?

I feel like HSBC has ruined my life sometimes, they shouldn’t have sold me that loan in the first place, the PPI is laughable and then to actively pushed me in to refinancing the loan twice is just un responsible.

I know I have a huge part in this by accepting the money but I have got my finances and life on track and all I want is for HSBC to take responsibly for selling me something I could not afford or need in the 1st place.

Thanks in advance.

di3004

kenf2210 wrote: »

hi,just to say i recieved a letter this morning from hsbc about my ppi claim and same again still investigating,ive had four of these letters but this latest one also says there will be no decision untill the court case is over,i knew this is what they where holding out for,dont know what to do now just wait or what ??? any advice.and my egg ppi have not got back to me but ive won that one as they said its been calculated up how much they owe but i got that response 2 weeks ago

Hi there

What was the date on their letter?

I know the court case started Tuesday 25th and ended yesterday and no decision has been made yet, so wonder if they mean on the letter you received after the court case that ended yesterday perhaps?
I would give them a ring and make sure on this.;)

di3004

swaggerman wrote: »

Hi Guys ,

Long time fan of the site and reading the forums but never posted. I need some help please.

In 2003 I took out a 5x year graduate loan with HSBC. When taking out the loan I was told I needed the insurance with the loan, I had no idea I could refuse this.

At the time I was not working, I was just out of Uni and used the loan to pay off credit cards and overdraft’s

After reading all the research and cases on re claiming PPI insurance, I want to take it further but have been afraid to in case they recall my loan or close my account.

WELL NO MORE, I was only 23 at the time, had no money, and no job, they shouldn’t have given me a loan not to mention put an extra 2.5k in insurance fee’s in for good measure.....

But now the complicated bit.... I don't have the original paperwork and since then I have refinanced the loan twice, (which I have the paper work for ). So that’s 3x loans in total which they have added insurance on each time.

I think I have just been insurance for the last year!

Looking at the reclaim questionnaire I need to include as much detail as possible, can I request the original paperwork from HSBC ? And do I need to include the other 2x loans where they miss sold me insurance?

I feel like HSBC has ruined my life sometimes, they shouldn’t have sold me that loan in the first place, the PPI is laughable and then to actively pushed me in to refinancing the loan twice is just un responsible.

I know I have a huge part in this by accepting the money but I have got my finances and life on track and all I want is for HSBC to take responsibly for selling me something I could not afford or need in the 1st place.

Thanks in advance.

Hi and welcome

Do you have the account numbers of the loan account?
If so they will do, and do not worry about any of the paperwork right now. You can still continue to make a reclaim.

You can try tracking numbers down for example, if you bank online and still with the same bank when you were paying your loan monthly repayments, this should allow you to go back about 7 or 8 years online, the account number is normally shown next to the monthly repayments.

You do have a excellent case here in my opinion, the policy was totally worthless to you and was obviously mis sold, write as much as you can on the questionnaire and remember to keep a copy as well.

However, if you decide to want to request for your account details, you can send them a subject access request (SAR), there is a letter template for this on link below, you enclose £10 cheque or postal order, they have 40 days to comply, if all with the same loan business write all account numbers that apply of give them as many details as possible in order for them to track down your data.
You only require one SAR request for the account details that should cover everything you have taken out with them.
https://forums.moneysavingexpert.com/discussion/1475553

On the reclaim, they normally have 8 weeks to come back with a decision, but they may write and ask for more time, but should keep you updated on your progress of your complaint.

Good luck and please keep us posted, cheers.:)

kenf2210

hi,ive just checked the letter and its dated 24th jan

di3004

kenf2210 wrote: »

hi,ive just checked the letter and its dated 24th jan

Hiya

So maybe they did mean after the case ends this week.
Give them a call at your next convenience, they should be able to let you know, just in case, good luck.;)

kenf2210

hi again,you said that theres been no decision yet on the court case,so i think hsbc are going to wait untill there has been a decision before they pay me anything thats what the letter sounds like to me,but yes i think i will phone them.

fingers crossed they lose

di3004

kenf2210 wrote: »

hi again,you said that theres been no decision yet on the court case,so i think hsbc are going to wait untill there has been a decision before they pay me anything thats what the letter sounds like to me,but yes i think i will phone them

Hiya, yes give them a ring anyway, just to be sure, hope they're open today, please let us know when you do know what is what with them, that would be cool, thank you.;)

dan323007

Hi everyone, I'm new to the site so please be gentle.

I took out a loan with HSBC in 2005, as my credit rating was not fantastic at the time I was told the only way they could approve the loan was as a 'Managed Loan'. One of the conditions was that I had to take protection. Is this legal? Can they force you to take protection and do I have any come back?

Thanks in advance,

Danny.