Hsbc ppi how long and how successful?

Katielouisexxx

Hi everyone I'm new to this!
Just wanted to here how people are getting on with Hsbc ppi claims and how long they are currently taking? is it the full 16 weeks?
I first wrote to them in may and it's about a personal loan I took in 2005. I took it in branch and looking back I didn't need it as I could have took income protection for much cheaper as I got sick pay from work and also had life cover. The guy was also very pushy which is also in my complaint and of course didn't suggest any alternative cover or the option to get some independently. I was also paying double interest!
Just wondering how likely it is to succeed and when might get a response....
Thanks

dunstonh

Just wanted to here how people are getting on with Hsbc ppi claims and how long they are currently taking? is it the full 16 weeks?

Success if relative to the reason. If you have a valid reason for complaint then it will likely be upheld. If you dont have a valid reason then it will likely be rejected.

PPI is not one issue (although there is one major area that stands out - single premium). Timescale on new complaints is likely to be around 12 weeks.

I first wrote to them in may and it's about a personal loan I took in 2005. I took it in branch and looking back I didn't need it as I could have took income protection for much cheaper as I got sick pay from work and also had life cover.

The fact you could have got it cheaper is not a complaint reason. If you had 6 months full pay, 6 months half then you have grounds there potentially. However, if your sick pay was more like 3 months then you wont. Life assurance cover is largely irrelevant as very few people adequately cover the life assurance needs fully. So, you would have to be in the minority there.

The guy was also very pushy which is also in my complaint and of course didn't suggest any alternative cover or the option to get some independently.

They are pushy. Its a sales process and they are allowed to be. They are also not required to suggest alternative cover or give you the option to get some independently. Indeed, it is against their remit to do so. They are tied agents of the insurer. Not independents. Those reasons would not result in an upheld complaint.

I was also paying double interest!

What do you mean by that? Why would you end up paying double interest?

If you mean the PPI was added to the loan and you were paying interest on the PPI then you have good grounds there and that is the most common uphold reason.

Katielouisexxx

Sorry for my initial post being a bit niave I dont really know too much about all this and thanks for your informative reply.
I'm pretty sure that's what my sick pay would have been yes full pay for 6 months and half for 6 months, I worked for a good law company at the time and that sounds familiar.
And sorry yes that's what I meant the total insurance cost was added to the loan at the beginning and interest charged on the total.
Well thanks again and I'll keep my fingers crossed for a good reply soon!
Anyone had a reply of Hsbc recently? How long did yours take?

cord123

I put my claim in at the beginning of April, they then said that there was a dedicated team now doing the claims so had to fill a form in, that was about a month ago... should I have recieved a letter to say that they have received that information?
This is for a Credit card?

I had just joined HSBC as counter staff when they suggested I get one.... I was told that I need PPI as it would be stupid to get it without...I bought my car on the card and paid off over a few years.... my complaint is that a) I worked for them so they would have known that I was entitled to sick pay, reduncy money etc.... also I still lived with parents and had no other bills so if I lost my job/was sick, my parents could have covered the cost of the minimum payments easily. I feel that they just preyed on the new, young staff (I was just 18!) to get an easy sale.... me being me (now not as niave!) thought that they were doing the best for me.... now I just feel that I paid out for something I didnt need!
Fingers crossed eh!
Good luck!

dunstonh

I'm pretty sure that's what my sick pay would have been yes full pay for 6 months and half for 6 months, I worked for a good law company at the time and that sounds familiar.

You may well get asked what your sick pay is and asked to prove it if that ends up being the only area of complaint being looked at. So, it would be a good idea to find out. Not only that, it is something you ought to know.

Katielouisexxx

I would have thought you should have yes I have received 3 letters from then now. The first being with the form asking me to complete and return, the second being saying it was taking more than four weeks and if it was to extend beyond 8 they would let me know and the third being informing of the Fsa extension and that I would have a reply within 16 weeks.

If I do get asked I'll have to look into that as I haven't worked for them for a few years now. Hopefully they may uphold my compaint on the basis of the double interest.

Katielouisexxx

Just to update my complaint was upheld and I finally received an offer 17 weeks and 2 days after original complaint was received. I sent back accepting Friday and am now awaiting payment. Just hoping it's not another 17 week wait lol!

turbo.jet

Hi

I've been scouring these forums trying to find out how long it usually is between sending an offer acceptance letter back to HSBC and getting the money?

Have you got your money yet? You sent your offer on the 9th of September so I'd have hoped so!

I'm trying to work out whether I am facing another month of debt repayments or not.

Thanks.

SuzyG

Hi,

I put in a claim for mis-sold PPI from HSBC just over a year ago with a company called Aims Legal.
I received a letter from them (Aims) back in August this year saying they had been in contact with the FOS and were in the process of settling out of court, also that if HSBC contacted me regarding the claim I had to inform them about it.
They could not give me an estimated figure or a time scale.
I think the 16 weeks and 12 weeks turn around estimate is nonsense, has anyone else had a similar experience?

Suzy

Sarah-Lou83

I also have been waiting over a year for my PPI claim with HSBC.
I did through a company called Lewis Waterman and I have received an email today saying that HSBC are taking 18 months to deal with their PPI claims??

Has anyone heard anything similar?
Thanks

Emma867

I made a call to HSBC callcentre and they gave me an address for HSBC Regulated Sales Complaints based in Bristol. I sent off my complaint, complete with Ombudmsan questionnaire and signed policy infomation.

I had a letter 4wks later acknowledging my complaint and to advise it was being investigated. Last week (near on 8wks since original letter) I got a letter making an offer. The offer has been accepted and I have sent the acceptance letter back to HSBC Bristol.

Can expect funds back into my account in the next 4 weeks.