PPI Reclaiming Discussion part 4

robertshawcameron

Hello,

After a protracted letter exchange, HSBC finally agreed to make a settlement regarding the misselling of PPi on a Graduate Loan. They made an offer in writing, which I accepted in writing. They have payed the remainder of loan and closed the account and made an additional payment of around £1500 and the money was put into my bank on Tuesday. On Wednesday they called and said they made an error in the calculation and that it should be around £113 and can they have the money back!

I have said no, not yet, put it in writing and I'll take legal advice.

Do I have to pay it back do you think?

di3004

robertshawcameron wrote: »

Hello,

After a protracted letter exchange, HSBC finally agreed to make a settlement regarding the misselling of PPi on a Graduate Loan. They made an offer in writing, which I accepted in writing. They have payed the remainder of loan and closed the account and made an additional payment of around £1500 and the money was put into my bank on Tuesday. On Wednesday they called and said they made an error in the calculation and that it should be around £113 and can they have the money back!

I have said no, not yet, put it in writing and I'll take legal advice.

Do I have to pay it back do you think?

Hi there & welcome

Did they let you know the amount on the offer in writing?

If so and you agreed, they should also accept that you agreed to the amount they offered.

I would otherwise ask for a detailed written breakdown of the amount that was owed to you and see if it works out to what the offer was.

I am not absolutely sure on what rights you or the banks have on this matter, but if you post about this on a separate thread below, I'm sure someone will have the answer for you. (Stay within these reclaiming threads).
And you will need to give it a subject, something like "Can banks ask for money back?"

Hope this matter sorts out soon and well done on your success anyway.;)

Gary_SSS

thanks very much for the reply - There are no arrears on the account - im going to call them up on Tuesday and find out - was kinda counting on getting the money back

l1sa

hi can anyone tell me if i win my ppi claim with hsbc will they use the money to pay off a loan i have or pay me direct as the ppi i am claiming for is for an old loan which i paid off early 3 yrs ago.

di3004

l1sa wrote: »

hi can anyone tell me if i win my ppi claim with hsbc will they use the money to pay off a loan i have or pay me direct as the ppi i am claiming for is for an old loan which i paid off early 3 yrs ago.

Hi and welcome

I assume if your actually making a reclaim on a closed account, then that refund should be awarded to you.
Mine although different banks, I had a few with Lloyds, and the main of them were refunded directly to me because they were closed, I also made a reclaim on an ongoing account and that one they did use towards the loan account.
They should be treated as separate accounts.

I have another 2 ongoing with them which are again on older closed loans, and if successful I am aware these will also be refunded to me direct too.

Good luck.;)

l1sa

i hope this is the case as they are seperate accounts, never known them to be under hand when it comes to theses things they awarded my bank charges back a few years ago within a week of writing the letter i had the money in my bank account but with so many people putting claims in they do seem to be doing things they wouldn't usually do.

well done on your success and good luck with the rest

di3004

l1sa wrote: »

i hope this is the case as they are seperate accounts, never known them to be under hand when it comes to theses things they awarded my bank charges back a few years ago within a week of writing the letter i had the money in my bank account but with so many people putting claims in they do seem to be doing things they wouldn't usually do.

well done on your success and good luck with the rest

Cheers and all the best with yours too.;)

Yes I know what you mean.
But I'm sure all will be ok as the account your reclaiming on is no longer active, the refund should be yours totally. x

bflare

went something like this......

"Regarding the sale of PPI on your overdraft, i can confirm that PPI was not included in the overdraft application therefore your complaint as not been up held"


Am a bit confused there due to the fact that Overdraft was mentioned????? It does say i have 8 weeks to complain or alternatively i can contact the financial ombudsman.



Any help????

di3004

bflare wrote: »

went something like this......

"Regarding the sale of PPI on your overdraft, i can confirm that PPI was not included in the overdraft application therefore your complaint as not been up held"


Am a bit confused there due to the fact that Overdraft was mentioned????? It does say i have 8 weeks to complain or alternatively i can contact the financial ombudsman.



Any help????

Hi there

Are you saying that you made a reclaim on loan or credit card ppi, and nothing about an overdraft, and they just sent a letter back assuming your making a reclaim on overdraft ppi?

If this is the case I would write back to correct them on this, ask them where they got the overdraft issue from.

Sorry if I have misunderstood.

Footiemad_2

Gary_SSS wrote: »

Hi there all,

I received a letter today to say mt PPI claim had been successful - im owed £2900 but they have taken it off my loan instead of paying me? Is that right???

Well done on winning your claim.:money::money: