Reclaiming PPI from HSBC - Quick question

di3004

Pleasehelp? wrote: »

Morning,

Had a reply finally last week from HSBC, they sent quite a lengthly letter saying complaint had been investigated and that basically they can not support my complaint. They said that the PPI policy document stated I had 30 days to cancel the PPI and I did not take it up within the time frame to cancel. They also confirmed that if I was to die, the loan would be paid off in full (but I still don't know if my daughter would be liable to pay it if I hadn't taken out PPI???). Also that all staff have adequate training etc. As a result, they wont be refunding any of the premiums I have paid or cancelling the PPI.

It was also stated in the letter, that if I had any other information then to please forward to them for futher consideration, as they did not wish for the complaint to be escalated to the Guernsey Financial Services Commission(GFSC) (who regulates the HSBC branch in Guernsey).

Not sure what to do. Am I entitled to help from Financial Ombudsman? Although I took the loan from HSBC in Guernsey, all correspondence has been with the complaints department in the UK.
Do you think it is worth speaking to Ombudsman anyway? Or should I complain to GFSC?

PLease help!!

thanks

Hi there

Sorry to hear this but do not hold back.

The letter they have sent is a standard one, everyone mostly has 30 days to cancel but have still been successful with the reasons they have.

If this ppi only covered the one and not the other then there is a case straight away, because the other that is not protected would still be liable to pay out for the loan.

Was this also a cover that only protected 5 years of the loan?
And the loan was for longer?

They have now stopped selling these type of policies and they are a costly rip off, lots have been successful in reclaiming back the ppi due to the unfairness of having to continue to pay for the ppi past the 5 years on the loan even though there is no cover after that 5 years to protect.

It seems they did not take the complaint into proper consideration, and only thought of themselves.

The FSA are punishing banks who reject genuine complaints and not for investigating them properly, so if you feel this is the case for you, write back to that address they have stated and give all these reasons as stated.

Make them aware that if you do go further for example such as with the FOS, if successful, they will be liable to pay out further charges to the FOS, and you will also be requesting for further redress for the distress and inconvenience they have caused.

You need to keep on that them.

Good luck with this.
However, if you want some advice from the FOS first before you go any further, they may even offer to write on your behalf on request.;)
http://www.financial-ombudsman.org.uk/contact/index.html

Hope this helps.

Pleasehelp?

Thanks for your help! I have written back to them following the template and basically saying that how the information which they have responded with in their letter, was not how I was sold the PPI and that the information given to me at the time of taking out the loan was incorrect, which to me seems as though the sales manager hadn't been given adequate training, if she had I wouldn't have been told the information and that it was a form of scaremongering.

Also added the bit about them being liable for further charges and about inconveniece etc like you suggested.

Fingers crossed you'll hear something more positive back from me!

thanks again for your help

di3004

Pleasehelp? wrote: »

Thanks for your help! I have written back to them following the template and basically saying that how the information which they have responded with in their letter, was not how I was sold the PPI and that the information given to me at the time of taking out the loan was incorrect, which to me seems as though the sales manager hadn't been given adequate training, if she had I wouldn't have been told the information and that it was a form of scaremongering.

Also added the bit about them being liable for further charges and about inconveniece etc like you suggested.

Fingers crossed you'll hear something more positive back from me!

thanks again for your help

Fantastic :T and the very best of luck.;)

deanofrancisco

hi
just to let you know i am in the same boat as you with HSBC , had the same letter from them not upholding my complaint , although i had a corneal transplant before having both PPI S , so i wouldnt have been covered , i didnt want the cover and was told i had too , and i also get full pay when on sick .I personally think that they have so many complaints , they are sending this draft reply , hoping people will leave it at that . But i am not leaving it at that and will be going all the way as i am owed in excess of £8-9,000
best of luck
dean

halphy

Good Luck to both of you, I complained to Hsbc, mines going back to 1999, theyve written twice saying theyre still investigating, dont know if thats good or bad!

di3004

deanofrancisco wrote: »

hi
just to let you know i am in the same boat as you with HSBC , had the same letter from them not upholding my complaint , although i had a corneal transplant before having both PPI S , so i wouldnt have been covered , i didnt want the cover and was told i had too , and i also get full pay when on sick .I personally think that they have so many complaints , they are sending this draft reply , hoping people will leave it at that . But i am not leaving it at that and will be going all the way as i am owed in excess of £8-9,000
best of luck
dean

The best of luck to you too Dean.:);)

-BA-

I hope OP doesn't mind me tagging along with in this thread. I too put my complaint to HSBC over my grad loans (two as I refinanced the first) and received the same first letter as the OP stating they were investigating. I then received a second one the other day stating that they have not yet completed their investigation and will get back to me in another 4 weeks. Should I accept this or start to push back?

deanofrancisco

hi
just to let you know , i recieved two letters from HSBC

deanofrancisco

just to let you know and give you some idea of timescale , i recieved exactly the same type letters as you and after a few phone calls i got my claim not uphold letter after 9 weeks .

halphy

-BA- wrote: »

I hope OP doesn't mind me tagging along with in this thread. I too put my complaint to HSBC over my grad loans (two as I refinanced the first) and received the same first letter as the OP stating they were investigating. I then received a second one the other day stating that they have not yet completed their investigation and will get back to me in another 4 weeks. Should I accept this or start to push back?

How long has it been in total since you wrote to them? Im going to give them what they say in the letter and see what they come back with