Reclaiming PPI from HSBC with loan still running...

amersall

NixiBean wrote: »

Sorry, to clarify I the PPI amount I quoted includes the interest for the PPI element of the loan. 8% compound interest added brings the total reclaim to £2389.12.

By my calculations this would pay off the loan and give me £70 change I suppose it would be depend on what final settlement figure they give me...

But at least you would have saved the monthly loan payment for the next 14 months. That is a nice amount.

NixiBean

Just a little update. Now that HSBC have got ?16 weeks to respond to my complaint, I'm guessing that I'll have made a further 3 payments before I have any more information about the situation.

Has anyone else had any recent success with them? I know someone on this thread's friend has.

Nix xx

marshallka

NixiBean wrote: »

Just a little update. Now that HSBC have got ?16 weeks to respond to my complaint, I'm guessing that I'll have made a further 3 payments before I have any more information about the situation.

Has anyone else had any recent success with them? I know someone on this thread's friend has.

Nix xx

You should always continue making payments for PPI even when complaining. Nothing is 100% that it will get upheld.

Emma2588

Hi All

Please could any1 kindly share the email addresses of ppi dept and CEO of HSBC. My other half has had a claim in since Oct 2010 but not had anything since ack letter. He is about 2 give up but not letting him, told him that's what the banks want people like you 2 give up on money that is yours!

Thanks in advance.

fedupofbankers

HI
I am just about to get £3800 back off HSBC and have my loan re-done. Let me tell you of what has happend with the rearrangement.
Had to go into HSBC branch today and they had an email they had been sent for them to follow. They only people who are ment to be rearranging these loans are mangerial employees as it is stated on the email the branch received. IF your loan has less than 12 months or £1000 it has to be set up as an "other loan" apposed to say a personal loan. They do a credit check and there is no way round this but even if it is rejected the manager has to overide this.
I waited 2 hours today and still it is not finished have to go back tomorrow to get the last bit done. I would make sure you have enough time and make sure it is a manager who is dealing with you as, as i found out today it takes a long time otherwise.
HSBC are far from prepared for the the rearrangement of the loans and i my opinion have the worst customer service i have ever dealt with.
Lastly make sure you make time for the rearrangement as you can not get your money until you have had this done. But also as people have also said keep paying the monthly installments as it is more money for you and even after the ppi is taken off you get a reward as i will get £500 when mine is finished in 10months.

LouisJK

#26

fedupofbankers



Thats great news well done. Can I ask about your claim, what did you claim mis-selling against?. Did you agree to it, ie tick any boxes? You see am worried that because I ticked the box saying I agree to taking out ppi, I may get rejected even though I really didnt know I had it, would never had agreed to a single premium policy if explained how it worked, and was not allowed to cancel without renewing at a higher rate of interest.:(

NixiBean

marshallka wrote: »

You should always continue making payments for PPI even when complaining. Nothing is 100% that it will get upheld.

The issue is more that I was unsure whether it would look bad if I was reclaiming whilst not cancelling my PPI.

Cancelling wouldn't make any difference to me due to change of circumstances, they wouldn't pay out anyway as my employer would pay me sick pay (and I am going to be on maternity leave for most of the remainder of my loan). I couldn't stop my PPI payment without stopping my loan anyway thanks to frontloading...

NixiBean

Emma2588 wrote: »

Hi All

Please could any1 kindly share the email addresses of ppi dept and CEO of HSBC. My other half has had a claim in since Oct 2010 but not had anything since ack letter. He is about 2 give up but not letting him, told him that's what the banks want people like you 2 give up on money that is yours!

Thanks in advance.

I haven't got any real answer for you as I don't know any email addresses sorry, but I would advise to write again to the bank as they should be dealing with your OH's claim now whilst holding new claims. Failing that you could try the FOS route but I have no experience of this.

Don't give up. About time the thieving so & so's returned some money to the people they have ripped off after making all the long term claimants wait so long.

NixiBean

fedupofbankers wrote: »

HI
I am just about to get £3800 back off HSBC and have my loan re-done. Let me tell you of what has happend with the rearrangement.
Had to go into HSBC branch today and they had an email they had been sent for them to follow. They only people who are ment to be rearranging these loans are mangerial employees as it is stated on the email the branch received. IF your loan has less than 12 months or £1000 it has to be set up as an "other loan" apposed to say a personal loan. They do a credit check and there is no way round this but even if it is rejected the manager has to overide this.
I waited 2 hours today and still it is not finished have to go back tomorrow to get the last bit done. I would make sure you have enough time and make sure it is a manager who is dealing with you as, as i found out today it takes a long time otherwise.
HSBC are far from prepared for the the rearrangement of the loans and i my opinion have the worst customer service i have ever dealt with.
Lastly make sure you make time for the rearrangement as you can not get your money until you have had this done. But also as people have also said keep paying the monthly installments as it is more money for you and even after the ppi is taken off you get a reward as i will get £500 when mine is finished in 10months.

Surely if they have to return the loan to where it would be without them having added PPI then having to re-arrange it to the cost of a hit on your credit score is a disadvantage? Does anyone know either way.

I wont be rearranging my loan with them if I am successful in my reclaim as it should be enough to clear the remaining amount and set me free :T to use the repayments to pay off my OD (and pay for baby related expenditure). And I am certainly not taking a hit on my credit rating for a loan I would have been repaying anyway.

To be quite honest with you, once I have straightened out and paid what I owe HSBC I am getting out of there. Most of my family bank with First Direct (I know, I know they're just HSBC in sheeps clothing) however they have nothing but praise for them...

I have major issues with HSBC's consistency as both myself and Hubby have banked with them for years and his treatment has always been different to mine. His experience of the fraud department is based on his spending patterns etc they have declined payments (which were genuinely fraudulent) before they hit his bank account. On the other hand they have let fraudulent transactions pass through my account when my spending patterns clearly show I was on the other side of the atlantic in my home town (I know they can't work miracles). They then cancelled my card with no warning to prevent further fraud and after much upset stated they had tried to contact me on my mobile and left a voicemail FOR SOMEONE ELSE. How incompetent!!!

Anyway, enough ranting :rotfl:

NixiBean

LouisJK wrote: »

#26

fedupofbankers



Thats great news well done. Can I ask about your claim, what did you claim mis-selling against?. Did you agree to it, ie tick any boxes? You see am worried that because I ticked the box saying I agree to taking out ppi, I may get rejected even though I really didnt know I had it, would never had agreed to a single premium policy if explained how it worked, and was not allowed to cancel without renewing at a higher rate of interest.:(

I know this wasn't aimed at me, however what happened with me is I agreed to it over the phone as I was told I was showing as an "amber" risk for them lending me the money and it was implied taking out the cover would improve my chances of being approved. However I then had to sign for it at the bank when they completed the documentation. I did so because of what I was told during the phone call and no one at the branch explained about the PPI in detail or gave me a different impression other than that it was necessary.