PPI Reclaiming Discussion part 4

di3004

marshallka wrote: »

Well todays the day that I am getting my call about my complaint against the insurer and to see whether its something that FOS says I can make. I am still finding it hard to understand as to why "unfair rebate" is NOT a complaint that you can win with. Its annoying as it was FOS that guided me to this in Sept/October last year and then they say "sorry, you cannot make that complaint???" or at least "you can but you will not win"... Its then taken them from September to July to tell me this. I just hope I get my call from them. I know that unfair rebates are complaints though although there is no ruling as to what is fair but surely they cannot say that being charged over 4K at settlement for an insurance policy no longer of use is fair. The least they should do is offer a pro rata rebate of 78% i thought.

Just hope I am posting later with a smile or its all been for nothing.

Hi Marshallka

We wish you all the luck in the world, you deserve this so much and have worked very hard on this one, I hope they sort this out in your favour and a distress payment on top of this as well.
Fingers crossed.:A;)XXXX

di3004

showergirl wrote: »

Nassie has rang A&L this morning, and has been told that no one has looked into her claim.

Yet she is suppose to have a respnse by the 24th of July which is Friday

Blimey, this is just not on, telling her one thing and doing another, well not even started looking at nassie's complaint yet......:eek:, they have better move on quick then hadn't they? Good luck to nassie xXX

shakattack

Good Morning All,

I have recently (on 7th July) ssent my ppi reclaim for my HSBC loan, after reading some of the success stories on this forum, thought I'd give it a go, When I applied for the loan in december 2004 I already had an existing loan for approx 4900 and I needed £10k more for a wedding. I did a web chat with the HSBC person who gave the whole quote and at no point in the web chat did he mention that the ppi was an optional payment and it was made that it was compulsory. (luckily i saved the web chat!)

The total loan amount came to £14,900, but the amount that was drawn down in my account to repay was approx £21,400, so just over £6k for the ppi! My monthly repayment are £365.29 and I only have 5 repayments to go.

My question to the various forum members is what are HSBC likely to do with my ppi claim that I have only 5 repayments left to make? Will they just write the balance off? or repay me the whole ppi amount plus 8% interest? So that when I do eventually recieve correspondence from HSBC I know what to reply back to them with.

Anyone who has had HSBC success please get back to me

Many thanks apologies for the long winded message!

Sam

di3004

marshallka wrote: »

I have done an email to the FSA (don't know how to send this though) about the way they have treated the "settling early" of the fine imposed on Alliance and Leicester where they got a 30% reduction in the amount and yet when we have settled loans early we are then penalised for doing so.

Do you think I should send this? Is it just me here or is this very unfair???

Here is what I was going to send to them

I just wanted to know why it is that when you fined Alliance and Leicester for the PPI they were selling you gave them a 30% reduction for settling their fine early and yet these firms actually charged us a penalty (unfair penalty) when we settled early using the rule of 78 etc in both loans and PPI. Why is one rule for one and one for another?

This looks good Marshallka, yes send it.;)

di3004

shakattack wrote: »

Good Morning All,

I have recently (on 7th July) ssent my ppi reclaim for my HSBC loan, after reading some of the success stories on this forum, thought I'd give it a go, When I applied for the loan in december 2004 I already had an existing loan for approx 4900 and I needed £10k more for a wedding. I did a web chat with the HSBC person who gave the whole quote and at no point in the web chat did he mention that the ppi was an optional payment and it was made that it was compulsory. (luckily i saved the web chat!)

The total loan amount came to £14,900, but the amount that was drawn down in my account to repay was approx £21,400, so just over £6k for the ppi! My monthly repayment are £365.29 and I only have 5 repayments to go.

My question to the various forum members is what are HSBC likely to do with my ppi claim that I have only 5 repayments left to make? Will they just write the balance off? or repay me the whole ppi amount plus 8% interest? So that when I do eventually recieve correspondence from HSBC I know what to reply back to them with.

Anyone who has had HSBC success please get back to me

Many thanks apologies for the long winded message!

Sam

Hi Sam

They all vary to one company to another, but what they "may" do is pay what is left to pay on your finance and the rest of it they then should refund direct to you.
Hopefully the ones who have had cases with HSBC will post up on this for you soon, good luck with this.;)

showergirl

di3004 wrote: »

Blimey, this is just not on, telling her one thing and doing another, well not even started looking at nassie's complaint yet......:eek:, they have better move on quick then hadn't they? Good luck to nassie xXX

They have until friday to give her a response.

I have been on to the FSA this morning and reported this

marshallka

di3004 wrote: »

This looks good Marshallka, yes send it.;)

Don't know who to send it to though as the complaints about the FSA have to come under the FSMA etc and I just really want to give them food for thought. I will have another look on their site and try and find another way of contacting them. I don't want to send this to Money made clear etc as I think it will get binned.

It IS wrong when they say to this firm "settle early and we will reduce your amount you owe us" but when we do it they allow the firms to charge extra in penalties. Where is our protection? How I look at it A and L would not have had the money for settling this early if they had not robbed everyone of their PPI, it was peanuts to what they actually made in their sales.

If we had our money back earlier from these robbers then we would also be able to settle our debts earlier and not incur interest charges on credit cards etc.

di3004

showergirl wrote: »

They have until friday to give her a response.

I have been on to the FSA this morning and reported this

Good one Showergirl.:T, well hope they deal with it by then, fingers crossed, your a good mate to nassie. XX

di3004

marshallka wrote: »

Don't know who to send it to though as the complaints about the FSA have to come under the FSMA etc and I just really want to give them food for thought. I will have another look on their site and try and find another way of contacting them. I don't want to send this to Money made clear etc as I think it will get binned.

It IS wrong when they say to this firm "settle early and we will reduce your amount you owe us" but when we do it they allow the firms to charge extra in penalties. Where is our protection? How I look at it A and L would not have had the money for settling this early if they had not robbed everyone of their PPI, it was peanuts to what they actually made in their sales.

If we had our money back earlier from these robbers then we would also be able to settle our debts earlier and not incur interest charges on credit cards etc.

Yes I agree.;) They have caused this debt in my eyes.

I don't really know the best organisation to send this to either

pinknico

I dont think a company should get a reduction on their fine until they have paid everyone back their money and stop messing customers about.