PPI reclaiming - Help!!!!!

tayworth83

Hi

I am after some help in reclaiming PPI that I was missold when I took out a loan back in 2001 with HSBC. They basically said the PPI was compulsory if I took out the loan.

I topped up the existing loan 3 times all with PPI Insurance until I got wise to it a number of years ago and cancelled the PPI. I settled the loan 3 years ago when we got a mortgage.

The problem is I have none of the agreements, apart from the last one when the PPI was cancelled. I have the account numbers for both the loan agreements and the PPI Insurance.

I have looked through page after page on here and am confused as towhere to start. Do I just send a letter to HSBC asking them to refund the PPI on my loans or do I need to get copies of the agreements before I even start. When do you have to fill in the FOS questionnaire??

Please help!!!!

Thanks

Karen xx

amersall

tayworth83 wrote: »

Hi

I am after some help in reclaiming PPI that I was missold when I took out a loan back in 2001 with HSBC. They basically said the PPI was compulsory if I took out the loan.

I topped up the existing loan 3 times all with PPI Insurance until I got wise to it a number of years ago and cancelled the PPI. I settled the loan 3 years ago when we got a mortgage.

The problem is I have none of the agreements, apart from the last one when the PPI was cancelled. I have the account numbers for both the loan agreements and the PPI Insurance.

I have looked through page after page on here and am confused as towhere to start. Do I just send a letter to HSBC asking them to refund the PPI on my loans or do I need to get copies of the agreements before I even start. When do you have to fill in the FOS questionnaire??

Please help!!!!

Thanks

Karen xx

Hi there, if you have account numbers you can put your claim in for mis sell.Look here to see if any reasons apply to you.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#checklist
Put all account numbers on for each loan and state that each one was rolled over onto the next.
You can use the fos template off the site, or if you prefer you can write a letter in your own words, saying you were mis sold the ppi because, and give your reasons, and that you want ppi paid to date to be refunded to you with interest. Give them 8 weeks to reply and keep us posted.
Just to let you know the banks have put a hold on some claims but still put your claim in and if you dont hear anything after 8 weeks then go to fos.Post this letter recorded delivery, then you have proof.Good luck with this.

tayworth83

Thanks for your advise Amersall, could I do it via email as I use internet banking??

amersall

tayworth83 wrote: »

Thanks for your advise Amersall, could I do it via email as I use internet banking??

That is a good idea, send the email to their complaints department,give it a go and see what they say.

tayworth83

Hi

I sent an email to HSBC on the 12th November 2010, I hadn't heard anything so chased them last week and I have now received a letter from them saying they haven't got back to me within the specified 8 weeks and given me the details of the FOS.

Should I contact FOS now by filling in the forms or should I wait until I hear from my bank??

Thanks

Karen xx

amersall

tayworth83 wrote: »

Hi

I sent an email to HSBC on the 12th November 2010, I hadn't heard anything so chased them last week and I have now received a letter from them saying they haven't got back to me within the specified 8 weeks and given me the details of the FOS.

Should I contact FOS now by filling in the forms or should I wait until I hear from my bank??

Thanks

Karen xx

Hi there, welcome back. have they asked for more time?, if they have then give them more time.

tayworth83

Thanks Amersall

It doen't exactly ask for them to give me more time, it says that someone is looking into it.

I will give them another couple fo weeks and then chase them again.

Thanks

Karen xx

di3004

Hi Karen

Good luck on your reclaiming.

Many receive these letters, and they must give you the option of the FOS, so its up to you on where you want to take this now, but it may be worth waiting a little longer and see what happens, say another few weeks, and if you still hear nothing, then move on to the FOS.
However, they all have large volumes of complaints, this includes the FOS which may also take some time, but the decision is yours of course.

Meanwhile, fingers crossed you will receive some good news in the post very soon.;)

tayworth83

Okay, so I have heard back from HSBC, they are telling me that they will not make a decision on whether I should be refunded until they know the outcome of the court case that is going on.

Does anybody know when this will be?? Is it worth me contacting the Financial Ombudsman??

Thanks

Karen xx

di3004

tayworth83 wrote: »

Okay, so I have heard back from HSBC, they are telling me that they will not make a decision on whether I should be refunded until they know the outcome of the court case that is going on.

Does anybody know when this will be?? Is it worth me contacting the Financial Ombudsman??

Thanks

Karen xx

Hi Karen

We have no idea on a definate timescale on the outcome for this, but hopefully there will be some news around Easter time, whether or not it will be anything to do with the decision though we do not know.
I have 2 waiting back as well, hope we get some news soon, good luck with yours.

tayworth83

Should I contact the FOS or wait to hear back from my bank??